Are adjustable rate mortgages right for you?

Physician Family Financial Advisors Podcast; Personal Finance for Doctors with Children

In this episode, Nate and Ben explore essential financial topics for physician families, including the management of inherited assets and considerations for insurance coverage. The conversation also touches on investment strategies and mortgage options relevant in today's climate.

Key Points:

- Consolidating Inherited Accounts: Consolidation of inherited IRAs and retirement plans can lead to simplified management and easier calculations for required minimum distributions (RMDs).

- Disability Insurance Considerations: Advisors recommend a careful assessment of the need for disability insurance, particularly as one approaches retirement. Canceling such policies should be done cautiously.

- Investment Strategy Awareness: The risks of engaging in new investment strategies—especially those focused on tax loss harvesting—are discussed. The hosts caution against solutions that generate losses rather than genuine growth.

- Managing Inherited Stocks: Holding onto inherited single stocks might carry sentimental value, but diversification is essential for long-term financial health. A stepped-up basis allows for potential tax advantages when selling inherited stocks.

- Adjustable Rate Mortgages (ARMs): The hosts explain ARMs as a viable option for home financing, highlighting their benefits in specific situations, particularly for those who do not plan to stay in their homes long-term.

- Impact of Financial Decisions: The importance of aligning financial strategies with long-term goals is emphasized, particularly for high-income professionals like physicians navigating their unique challenges.

Additional Resources:

Visit www.physicianfamily.com for more information on personalized financial planning and to schedule a consultation.

Disclaimer: This content is for informational purposes only and is not intended as financial advice.

ARE YOU GETTING ALL THE TAX BREAKS YOU REALLY DESERVE?

To find out, get your copy of The Overtaxed Doctor's Retirement Investing Checklist at https://physicianfamily.com/go

GOT A QUESTION?

Write to us at [e-mail].

NOTICE

Physician Family Financial Advisors Inc., a registered investment advisor, has reasonable belief that the information and content as a whole does not include any false or materially misleading statements or omissions of facts regarding services, investments, or client experience. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Information expressed does not take into account the specific situation or objectives of individuals and is not intended as recommendations appropriate for all individuals. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.