Blog Posts

Few tasks in life can be as rewarding and challenging as being a primary caregiver for your loved ones. And caregiving comes in a variety of forms, from looking after ailing relatives to raising children as a stay-at-home parent. Whether you purposefully chose the role or life’s circumstances required you to fill it, you face myriad responsibilities that can distract you from managing your own financial life. To feel secure in your future and the future of those you care for, you need to make sure you safeguard your finances.

Whether you’re interested in buying a condo in your favorite vacation spot or are interested in rental income, it’s critical that you consider how the purchase fits into your lifestyle and financial picture. Owning a second home can seem glamorous and potentially offer you another source of income, but it can also be a time and money pit. Whatever your reasons for considering another property, here are some factors to consider before taking the plunge.

By Michael J. Searcy

Nope, we’re not talking about crashing markets or the end of the economic world here. We are talking about the name of a letter one of our clients has written to be given to his survivors. He has instructed them to only open it in the case of his death or incapacity. The purpose? To make things easier for his survivors and point them in the right direction of what needs to happen next. We talk about these things with clients on a regular basis but seldom do they actually implement this type of communication. Far too often it lands on the “good idea when I get around to it” list. This is understandable because who really wants to face their own mortality? We applaud this client for being proactive.

Are you or one of your children typing the knot soon? For any couple heading to the altar, financial matters can emerge as a major challenge. As much as you may love each other, there’s no guarantee you’ll be on the same page about money. In fact, it’s not unusual for a “spender” and a “saver” to join together in holy matrimony, only to find out they’re at odds over finances once the honeymoon is over.

By Michael J. Searcy

As you navigate through the financial stages of your life as a physician, careful planning not only prepares you for each stage, but also helps you maximize your time in each and fulfill goals along the way. The work-life balance for a busy physician can become lopsided when your priorities are not defined. We often hear physician clients who enter retirement say, “I wish I would have spent more time focusing on the things I love along the way.” Consider these goals and action items that are important during the 5 typical financial stages of life: