Financial Tips for the Rest of Us
by Nathan Schorsch, Head to Toe Financial Planning
It’s certainly no secret that I work with doctors, nurses, and other medical professionals as those are people I’ve been surrounded by my entire life. While I truly do enjoy serving that community and focusing my practice to that demographic, sometimes it’s nice to write up some advice for a larger population. Perhaps you’re in medical school or nursing school and need some tips that don’t focus on having completed your degree/residency. Maybe you’re not contemplating going into the medical profession at all and are looking for some good general advice. Either way, this is the blog post for you. Let’s dive in and I hope some of this advice gives you some things to think about.
Add a Little Superpower to Your Finances - The Emergency Fund
by John Chesbrough, Trail Financial Planning
An emergency fund is kind of like Violet’s superpower (from the Incredibles). Violet has a force field to deflect incoming bullets, giant mechanical squishers, or at times, her brother. She uses her force field to protect against the unknown and unexpected. In your finances, villain bullets come at you as a job loss, a tax bill, a trip to the emergency room, or even a wealthy friend getting married – “Hey, guess what? We’re having a destination wedding in the South of France in the middle of the school year!” To protect against the unexpected, you should have a cash force field – an emergency fund. A good emergency fund deflects, or at least softens, the pain and stress caused by unexpected financial hardship.
Money Alone Will Not Set You Free
Today, we’re taking on the idea of financial freedom – and how we suggest redefining it to better fit your life. With Episode #004 of Beyond Finances, we push back against the idea that the solution to all life’s problems can be found via financial independence. Life is not that black and white, and we believe striking a balance between living well today while planning responsibly for tomorrow may provide even more happiness than the traditional take on “financial freedom.”
What It Takes to Get to Financial Freedom
Is financial freedom just a matter of consuming less and being more frugal? We take a closer look to determine what it really takes to reach financial independence. In the last episode, we took a look at the idea of financial freedom — and also talked about some of the problems that the “financial independence/retire early” movement fail to address. We suggested a different way of thinking about financial independence so you can actually be present and experience life now — without sacrificing your future financial security and independence.
Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.
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