Let's face it: finances can be complicated. Whether opening a new investment account, saving for your child's college fund or rolling over a 401(k), sometimes you need professional financial help.
There is great unrest in the financial universe. The next disturbance in The Force is anyone's guess. Like the rebels in the forthcoming Star Wars film Rogue One, you seek a new hope. Fear not and reach for a promising investment future.
Creating and following a budget involves self-discipline and sacrifice, but will help you develop wise spending habits to better manage your practice’s finances now and into the future.
Financial wellness is central to retirement planning for everyone, especially doctors.
Numerous factors impact the health and vitality of the human body on any given day; the same is true with investing, numerous factors impact daily market performance.
Medicine and investing: Two games which are extremely tricky to navigate. Two games that leave physicians and investors at the mercy of vast information processing hubs: The human body and the market. While medicine has been perfected over the years, practice hasn’t always made perfect for investors. Unlike medicine, investing appears to have no standardized science behind it. And don’t forget every investor’s kryptonite: Volatility. Why? Volatility can drive irrational investment behavior.
Feeling the effects of regulatory and legislative implementations, shifts in practice ownership, and profitability demands, the healthcare landscape doesn’t look the same as it did 10 years ago. But what does all of this mean? Simply put, it means one thing: change. More specifically, change that can affect a physician’s key area of exposure: risk management in both their personal life and their practice.
Medicine and the human body, business and finance: two worlds whose separation is often displayed by the tradition of physicians sitting on one side of the table and business people on the other side. However, it is becoming an increasing problem that there are not many people sitting in the middle of the table; those who understand both the business of medicine and the human anatomy. Recognizing the need for hybrid physicians who can interpret both languages leads to more efficient practice management both professionally and personally.
Individual, business, and online reputation management oh my! A term that is regularly spoken in the public relations and digital marketing fields, the heart of reputation management is the influencing and/or control of an individual’s or business’s reputation; online reputation management measures the impact of your digital footprint. But while all this talk is happening about these areas of reputation management, why are individuals not speaking with their advisor about one of their most important aspects to reputation management: the reputation management of their legacy.
For some time now, models have been used in finance to determine what outcomes will arise from what inputs. With the ability to calculate formulas with specific values, in our field there may be no end to the continued tweaking of financial models in the hopes of finding that magic formula for financial success.