The MDP Blog
Mark Schweiss CFP®, CPA, CFA joined the firm late in 2017. He humored me by answering a few questions so you could learn more about him.
Whether you make $40,000 or $400,000/year, prudently managing your cashflow is the single most important financial thing you can do. You know you should live within your means, but why is it so difficult? Learn how we help our clients finally gain control of their income/spending, while saving them time and stress along the way.
With all the negative press that St. Louis often gets around things like racial divide, a fractured city/county, the departure of the Rams, corporate exits and the like, we should be celebrating the startup revolution happening in our city. This startup culture has the opportunity to change St. Louis’ trajectory.
As a physician, your sole focus in your twenties (and likely into your thirties) was learning your craft--undergrad, med school, internships, fellowships, post docs, etc. You’ve given up countless hours with your nose in books and days on end at the hospital to become a physician. Now that you’re an attending doctor (or close to it), you’re hoping that the hard work will pay off for you financially. Unfortunately, though, many physicians fall prey to traps that will hinder them from flourishing financially once their income finally rises.
Would you rather have $1,000,000 or the sum of a penny doubled every day for 30 days? If you did the math, you know that the magical penny is the correct answer and by a long shot. By the end of a month, you’d have $10,737,418.24.
Are your employees among those who are uneasy about their finances? Whether you like or not, they’re looking to you for help. Even if your workforce is highly educated they still might have little to no personal financial acumen. Here are 3 ways you can help your employees with financial wellness to make them happier people and in turn, better employees.
As we approach the Monsanto-Bayer merger, it’s important to understand what you have and what you can expect to happen with your stock, options and Restricted Stock. Without a finance degree, it can be difficult to decipher your holdings. You might be embarrassed to admit you don’t understand what you have. Trust me, you aren’t the only one. Let’s unpack what you have and things you should think about as the merger approaches.
Sometimes we put off important things that aren't urgent. Financial planning should be moved up your list.
Whether or not to accelerate mortgage payoff is a question that crosses most homeowner’s mind at some point. It’s especially top of mind this time of year as you gather the documents to file your taxes and see how much you paid in interest last year on your mortgage. As I discussed this with a client recently, I thought it might be interesting to share my thoughts with you as well.
If you understand your "why" and reframe the idea of ‘retirement’, financial independence can be closer than you think.