Money Meets Medicine Podcast
MMM #46: We Are in a Pandemic; Do You Have Your Financial House in Order?
There are so many unexpected things going on in the world right now. In the midst of all the uncertainty, it’s important to have some financially stability. Today we’re talking all about estate planning. While we’re in the middle of chaos it’s time to get your financial house in order.
What You’ll Learn:
In today’s episode of Money Meets Medicine, “We Are in a Pandemic, Do you Have Your Financial House in Order?,” you’re going to learn…
- All about why you need an estate plan.
- How to develop an estate plan.
- What to do if you want to donate to charity.
- How to make sure your kids are going to be okay!
- And more!
Quotes To Remember
“Estate planning is still extremely important, because if you’ve got other things like kids, that’s worth way more than any amount of money you’re ever going to make tenfold.”
“You might want somebody to have guardianship over your children, but you might not want that person to manage your finances. It doesn’t have to be the same person, which is interesting.”
“A will, at its most simple form is just a legal document that states your financial and your medical wishes. It’s going to ensure that that property that you have or personal effects or your medical status, it’s basically all cared for in a matter of your choosing.”
“A trust is an enforceable document that you’re crafting while you’re alive, that can, one, it can help reduce estate taxes, which we talked about is likely not the case, but it could plan for the care of your children.”
This Episode’s Sponsor
Shopping for disability insurance is complicated enough. Wondering if you are getting the best prices and discounts can make the process even more overwhelming. This is where Pattern can help! Recently, Principal Financial announced that their unisex discount is being eliminated at the end of 2020. This means the best pricing for most female physicians will disappear December 31st. Female doctors need to request their free quotes today to potentially save 50% or more. You can be confident you have the right policy at the best price possible when you request your disability insurance quotes with Pattern at thephysicianphilosopher.com/PatternInsurance
You might also be interested in…
As we head into the final months of the year, which is typically the time of year for open enrollment for benefits, lots of benefit questions inevitably arise – particularly in regards to spending accounts like HSA vs FSA.
Retirement funds are one of the biggest points of financial confusion for doctors. We want to provide some clarity and understanding so you can learn what you need to know to start making your money grow.
We’re going over five things about retirement accounts every doctor should know.
Have you ever felt like things are getting really heavy? And that you need to make a change? That is what we are going to do today on the show today. We are going to pull back the curtain and talk about things that have been going on in our lives. Often people don’t think about the lives of the people behind the YouTube videos or podcasts like this one, Money Meets Medicine. So today we are going to dive in and talk about hard decisions on this podcast Money Meets Medicine. Join us as we explore why resting in your personal and financial lives is essential for healthy success.