A physician earning $500,000 per year in W-2 income does not experience $500,000 in usable cash flow. Before a paycheck is deposited, federal income tax, payroll taxes, and state income tax significantly reduce that number. For many high-income physicians, the effective tax burden can approach 35 to 40 percent depending on location and deductions. That means approximately $180,000 to $200,000 may go toward taxes before lifestyle, savings, or investments are even considered. T

Financial planning is not only about building wealth. It is also about protecting what you have worked hard to earn and ensuring that your loved ones are secure, no matter what life brings. While not every financial risk can be eliminated, some of the most serious ones can be reduced with thoughtful planning and preparation. Common Financial Risks Families Face 1. The risk of children ending up in foster care or family assets going through probate. Without proper legal and fi

When people hear “life insurance,” they often think of it as something emotional, confusing, or even controversial. But at its core, life insurance is none of those things. Life insurance is just a tool. It is not magic. It is not a lottery ticket.And it is not an investment. Like any tool, life insurance works best when it is used for the right purpose. In the right hands, it can provide powerful protection for your loved ones, your assets, and your business. Here are three