If you had to choose between a gift of $5 million today or one penny that would double in value daily for 31 days, which would you pick? If you chose the compounding penny option, you are the winner. That option would give you $10,737,418 in 31 days. … [Read more...]
Just for Doctors Newsletters
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Aug, 2019 Insurance Mistakes to Avoid
August 19, 2019 by
The insurance costs for malpractice, life insurance, disability, and overhead are significant, yet many doctors spend even more money on insurance, often without receiving any more benefits. With every doctor at the early stages of the career … [Read more...]
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Aug, 2019 Distributing Your Estate Assets Fairly
August 7, 2019 by
Most of us have a cavalier attitude about preparing our last will. We seldom set aside the time such an important document deserves to address the unique circumstances of our family, practice, and financial lives. Your lawyer may, as a reward for … [Read more...]
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Aug, 2019 The Challenge of Building Wealth
August 6, 2019 by
One would expect that top income earners like doctors never have to worry about saving for retirement, paying for college education, paying off a large house mortgage or treating themselves to a ski vacation in St. Moritz. Contrary to popular belief, … [Read more...]
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Jul, 2019 A Simple Strategy to Boost Your Investment Returns
July 24, 2019 by
One investor shared his strategy with the Globe and Mail’s finance columnist, Rob Carrick, the other day. It is worth repeating because it is both simple and smart. This reader proposes to use two-thirds of his funds to invest in the Vanguard … [Read more...]
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Jul, 2019 How Joint Home Ownership Leads to Messy Estate Fights
July 24, 2019 by
There always has been the rule that if real estate is owned as “joint tenants”, then the survivor of the joint owners will automatically become the sole owner. This right to survivorship will bypass any provisions in the testament. This principle … [Read more...]
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Jul, 2019 Using debt to create wealth
July 11, 2019 by
Even if you hate being in debt, it’s impossible to live without it. So why not accept the fact that you are likely to be in debt throughout your career. There will be student loans and a home mortgage at the beginning, practice purchase loans at … [Read more...]
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Jul, 2019 Why you would want a family trust
July 11, 2019 by
Here is a summary of the benefits you can enjoy by setting up a family trust. Maintain control. As the trustee, you have full control over the trust assets within the scope of the trust document. The trustee also controls the allocation of … [Read more...]
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Jun, 2019 Shareholder Loans-What you should know
June 26, 2019 by
The item on your corporate balance sheet that you should be most concerned about is the “shareholder loan” account. This loan account tracks cash advances to the shareholder(s) during the year. At the end of the corporate fiscal year, your accountant … [Read more...]
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Jun, 2019 Happiness: Fueling success and work performance
June 26, 2019 by
For untold generations we have been led to believe that if we work hard enough, we will be successful, and through success will come happiness. Dr. Shawn Achor, a Harvard professor in positive psychology, suggests in his book “The Happiness … [Read more...]
