C’mon admit it – you have a guilty pleasure. You don’t need to be embarrassed; we all have them. There is nothing wrong with having them. In fact, as long as they are within reason, we encourage them as life is about relationships and experiences and sometimes a guilty pleasure is just what the doctor ordered.
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.
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.
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.