It’s tax season! In this episode of Financial Clarity for Doctors, hosts Corey Janoff and Rachelle Vanderzanden dive into the horror and torture of filing your annual tax returns. We may not be accountants, but we can certainly commiserate.

In this episode we discuss:

• Some basics of taxation, including where your tax money goes and why it feels so challenging to tackle the filing process.
• A few ways to reduce your taxable income AND increase your savings through workplace retirement plans and things like Health Savings Accounts.
• Suggestions on how to stay organized to ease the process a bit.
• Encouragement to outsource tax planning to professionals if/when you feel overwhelmed.

Often paying your taxes is not too terrible, but the process of completing and filing your return can cause anxiety and fear. Our tax system is complicated, and it is not uncommon to feel like you’ve missed something. It may be worth a little money to offload that worry and concern. Listen to the full episode to hear more.

For more financial planning tips from Corey and Rachelle, find them on social media! LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance

Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.

Sometimes the world feels scarier than average. In this episode of Financial Clarity for Doctors, hosts Corey Janoff and Rachelle Vanderzanden, walk through some questions and discussions that have come up with clients who seem to be bracing for something scary to happen that will affect their portfolios.

In this episode we discuss:

• Current fears, including the growth of AI companies, geopolitical risk, housing affordability, and political tension.
• Past examples of market drawdowns, some short-lived, others that took a long time to recover from!
  • Covid downturn
  • Housing crisis
  • Internet bubble
  • Great depression
• How market cycles and economic/political cycles do not align as well as you may expect.
  • We cannot guess how the market will react to specific economic or political events.
  • The market recovered very quickly during Covid even though a lot of people were still struggling.
• How diversification can help insulate you from some risk but also help you feel more comfortable with your portfolio.

Trying to time the market could potentially be the biggest risk of all, especially if you sell when the market declines and you feel less comfortable investing. This may mean you’re in the market for the bad days and then miss the good ones! Try to remain consistent. Listen to the full episode to hear more about alternative investments that offer some downside protection.

For more financial planning tips from Corey and Rachelle, find them on social media! LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance

Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.

In this episode of Financial Clarity for Doctors, hosts Corey Janoff and Rachelle Vanderzanden, discuss one of the strategies used by many investors, dollar cost averaging. What is it? How does it work? Is it really better than investing lump sums of money? They may not be able to answer that last one for you, but learn more about it and decide for yourself!

Dollar Cost Averaging Basics:

• Investing equal amounts of money at equal intervals over time.
  • For example: Investing $1,000 on the first of each month.
  • When share costs are higher, you will purchase fewer shares; when share costs are lower, you will purchase more shares.
• Lots of this happens automatically!
  • When you invest in your retirement plan at work.
  • When you make your IRA contribution annually.
• On the flip side, many folks argue that instead of spreading out contributions, you are investing money as soon as you determine it is appropriate to invest that money. Three out of four years the stock market is up, so why not just invest sooner than later?
• Ideally, you are doing both. Investing money immediately on a periodic basis as you have extra funds from your paycheck, etc.

There are lots of considerations when deciding whether or not to dollar cost average. Things like how large a lump sum contribution may be, whether you are reinvesting money that has already been invested, and what your risk tolerance is. Bottom line, do what you need to do to get money into the market and try not to make emotional decisions based on the world and your perception of current stock market values.

For more financial planning tips from Corey and Rachelle, find them on social media! LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance

Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.