What were some of the troubles and difficulties in 2023? Here is a discussion about some of the troubles I saw repeatedly in 2023. In preparing for the new year, it's good to look back and learn.

Troubles Of 2023

When the market goes down, what financial planning tasks help with the bigger picture? Knowing your budget, cash needs, and making sure you have the right amount of insurance are all critical components of a financial plan that's experiencing a reduction in asset valuation.
Additional Resources:
https://www.m-advisor.com/blog/financial-planning-for-savers-in-a-down-market-image

Financial Planning in a Down Market

With the springtime weather upon us, thunderstorms can intrude on our finances by damaging our houses. During storm season, it's important to understand how our homeowner's insurance policy works if our house gets hit by a storm. The wind & hail deductible is included in all our homeowner's policies, and it is often misunderstood.

Wind & Hail Deductible

When the market declines, what are some good investment responses? How do market fundamentals work in a down market? What should we do with our investments when the market declines? 

Investing in a Down Market

Time horizon is generally defined as the period of time for which a specific investment account will stay invested before being utilized. Many times, an investment isn't allowed to enjoy its full time horizon due to our own behavior with our money. Adjusting your view for a much larger time horizon, and adjusting it for all of your assets might provide a different perspective on your life and legacy goals. 

Time Horizon Adjustment

When you figure out you need an LLC, the question always looms: "What do I name the LLC?" Also, find out how to see what names are available and what names are already taken. This episode explores what kinds of LLCs and what uses of LLCs might be appropriate for what kind of LLC names.

Naming an LLC

We leave a different kind of legacy in various aspects of our lives. We leave a legacy for our spouses, our kids, and our clinics, among others. We'll explore some of the conversations and experiences that impact our legacy.

Legacy Buckets

Some investment assets warrant the formation of a holding company, usually for liability purposes. Real estate, private equity, and franchise agreements are great examples of these assets. Learn how a physician may structure a holding company, and let's take a deep dive into how it works.

Investment Holding Companies

For most physicians, purchasing disability insurance is an easy decision; however, there is one investment that disability insurance companies do not support. Wait, do your investments and disability insurance policies coincide? To some degree, yes. Here I give an example and explore a potential blind spot in doctor's income protection: unearned income. 

The Black Hole of Disability Insurance

I ran across a thoughtful quote credited to Confucius, and it made me think about it from several different angles. The quote is this: "We have two lives, and the second begins when we realize we only have one." This podcast examines this quote from a financial planning perspective and a bit beyond. Enjoy this episode, and maybe you can examine it from different angles in your own life, too!

We Have Two Lives...

So I was reading "Start with Why" by Simon Sinek, and there's a moment in the book where Simon gets to attend a conference with select business leaders, and the conference began with these two questions: 
"Raise your hand if you have reached many or all of your financial goals."
"And Raise your hand if you feel successful." (and many of the hands went down).

I wondered how this would apply to physicians. Many of us see physicians as being successful just by being a physician, but I wonder how many physicians, whether they have achieved a number of financial goals or metrics, actually feel successful. 

What is success for a physician?

Financial Planning for Physicians.

Registered Representative: Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA-SIPC. Investment Advisor Representative: Cambridge Investment Research Advisors, Inc. a Registered Investment Advisor. M Advisor is not an affiliate of Cambridge Investment Research.