Financial Clarity for Doctors

The stock market is a wild and unpredictable place sometimes!  In this episode of Financial Clarity for Doctors, hosts Rachelle Vanderzanden and Corey Janoff chat through stock market “bubbles” and whether or not we might be in one right now.   This episode covers:  The basics of a “bubble”.  An overview of the dot.com bubble from the late 90s/early 2000s.  Stock market performance and recovery times during and following this period.  The value of diversification.  Similarities and differences between the current stock market and the stock market during that period.  How to approach long-term investing in the wake of uncertainty.  We don’t have a crystal ball!  Realistically, we can assign valuations to any given company, but the stock is worth whatever price a buyer and seller can agree upon.  That’s part of the reason the stock market is unpredictable, and timing the market generally does not work well.  Instead, focus on your long-term goals and come up with an allocation that makes sense for you.  For more financial planning tips from Corey and Rachelle, you can reach out to them at [email protected]. They would love to hear your questions and ideas for upcoming episodes.  Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice. 

Let’s do a quick review of disability insurance!  In this episode of Financial Clarity for Doctors, hosts Rachelle Vanderzanden and Corey Janoff dive into the details of long-term disability insurance.  This coverage is very important for anyone who is still reliant on their income. Discussion topics include: When and why you need this insurance. Different kinds of disability insurance. Details of long-term disability including a breakdown of many common riders. A comparison of employer/group coverage vs. individual coverage. How to apply for coverage. When you may need to increase your coverage and when it’s okay to cancel it. No one likes paying for insurance, but insurance allows you to share some larger financial risks with a third party.  Disability insurance is a great example of that.  Most of us feel invincible until we’re not. For more financial planning tips from Corey and Rachelle, you can reach out to them at [email protected]. They would love to hear your questions and ideas for upcoming episodes. Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.

In this episode of Financial Clarity for Doctors, hosts Rachelle Vanderzanden and Corey Janoff discuss some potential complications of declining property values.  Don’t panic!  This may not even apply to you, but it’s good information to understand.  If your home is worth less than you expect:  If you purchased in the last couple of years and want to refinance, you may not be able to do so.  Many banks require a certain percentage of equity to refinance your loan.  Try to get the details of refinancing before you buy!  You won’t be able to borrow against the value of your home unless you have enough equity.  If you need to sell, you may end up actually paying money to get out of the house.  For example, if you purchased a home for $900,000 and paid 10% down but your home is now worth $800,000, the proceeds from the sale may not be enough to pay off your mortgage and pay the closing costs on the loan.  If you’re staying put, it may not be a big deal at all!   Generally, the longer you plan to stay in a home, the less likely you will be hit with some of these problems.  You probably will have much more equity in a home you’ve lived in for ten years than one you lived in for three years.  For more financial planning tips from Corey and Rachelle, you can reach out to them at [email protected]. They would love to hear your questions and ideas for upcoming episodes.   Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice. 

Let’s go back to macroeconomics class!   In this episode of Financial Clarity for Doctors, hosts Rachelle Vanderzanden and Corey Janoff discuss the basics of inflation.  Why do prices continue increasing?  We’d rather pay 25 cents for milk too!  Unfortunately, capitalism and supply and demand make price stability pretty much impossible.  And that’s not always a bad thing.  Some Basics on Inflation:  Generally measured in the United States by something called the Consumer Price Index (CPI) which tracks the costs of goods and services.  Sky-rocketed coming out of covid times with supply chain issues, cheap money (low interest rates), a tight labor market which generally means higher pay, and stimulus funds.  Lots of demand because people had money, but supply was low, so prices went up.  Now hovering around 3%, but still dealing with the effects of large increases over the past few years.  Wages generally increase over time, which is another upward pressure on price through supply and demand.  The Federal Reserve has a dual mandate to keep inflation in check and keep unemployment low.  That does NOT mean zero inflation.  They have a target inflation rate of 2%.  One of the biggest ways they do this is by increasing interest rates, therefore making it harder for people to purchase things they would need to finance.  To protect against inflation:  Keep short-term savings in something like a high-interest savings account where you can earn interest.  Negotiate pay increases based on your cost of living.  Retirement money should be invested so that it has a chance to grow and outpace inflation – although we know this is not a guarantee, inflation is the bigger risk to long-term money.  Inflation is a part of the global economy!  We can’t get rid of it, so the best we can do is protect our personal finances as best we can from its effects.  Listen to the full episode to hear more.  For more financial planning tips from Corey and Rachelle, you can reach out to them at [email protected]. They would love to hear your questions and ideas for upcoming episodes.   Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice. 

Financial Clarity for Doctors spends a lot of time talking about how to balance your financial priorities and achieve your goals with the resources you have.  In this episode, hosts Corey Janoff and Rachelle Vanderzanden take some time to delve into those life goals.  We often ask clients, “What’s the fairy tale for you?”  Spending some time thinking about the things you’re working toward can be a lot of fun – and motivating!  Your goals can be anything!  Maybe for you it’s working less now and taking more time for family, friends, and hobbies now.  It could be longer-term traveling plans.  Someday maybe you’ll have the luxury of a trip that lasts a month or two instead of a week or two.  For some folks, it’s having that very special place to land with friends and family.  Beach house anyone?  A place in the mountains?  Others want to have the ability to make dreams come true for their children or even people they’ve never met.   Take some time to think about your own motivation.  It may help you find the balance between living for today and saving for the future.  For more financial planning tips from Corey and Rachelle, you can reach out to them at [email protected]. They would love to hear your questions and ideas for upcoming episodes.   Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.