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24 June 2020

10 Tips Doctors Should Follow When Purchasing a Home

Written by Barry J. Swaim, CFP®, Posted in Blog

How Savvy Doctors Make their Home Buying Experience a Positive One
10 Tips Doctors Should Follow When Purchasing a Home

Buying a home is a meaningful milestone, and many people feel that it is a signal of true success. However, if you fail to follow certain financial principles, your home purchase can quickly go from success to mess. The ten tips below are designed to help doctors have a positive home buying experience and find the property of their dreams.

1.     Get Organized

The process for a doctor to get approved for a mortgage requires a near-mountain of paperwork. You’ll have to provide quite a bit of documentation, so preparing it ahead of time will save you from frantically gathering documents when the time comes to apply for your mortgage loan. Here are a few items your lender will be sure to ask for:

  • · Proof of identification
  • · Two years’ worth of tax returns and W2s
  • · Three months of statements for checking, savings and brokerage accounts
  • · Proof of residency, if you’re matched to a residency program
  • · Debt statements for student loans, credit cards, and auto loans
  • · The source of your down payment, in certain scenarios

Gathering these items before you meet with potential lenders can save you time and anxiety, as well as help you secure the home of your dreams without unnecessary delays.

10 June 2020

Retirement Planning for Doctors and Dentists: Four Tips for Success

Written by Barry J. Swaim, CFP®, Posted in Blog

Retirement Planning for Doctors and Dentists: Four Tips for Success

Retirement Planning is always a complex process, but it presents some unique challenges for doctors and dentists. Although many of the basic principles remain the same for retirees from any industry, doctors and dentists often start saving later in life because of lengthy educational requirements, and they also tend to have significant student loan debt. These factors mean you’ll need to take special care in your financial planning so that you can enjoy the life you want for yourself while you’re still working, as well as set yourself up for the retirement of your dreams.

Here are four tips that help ensure doctors and dentists properly plan for retirement:

Tip #1: Pay Your Student Loans Strategically

Once you begin practicing and start earning real money, it’s tempting to throw extra payments at your student loan debt in order to dispense with it as quickly as possible. After all, it can often feel like an albatross around your neck. Before you start down this path, however, it’s important to step back and determine whether other strategies might be more financially savvy. For instance, you might qualify for a refinancing offer that lowers your interest rate, or maybe public service work qualifies you for loan forgiveness. These are important details to consider before you start paying more than your monthly loan payment.

06 May 2020

Saying Thanks to Frontline Workers: Freebies and Discounts for Our Health Care Heroes

Written by Barry J. Swaim, CFP®, Posted in Blog

These Companies Want to Thank You for Your Important Work
Saying Thanks to Frontline Workers: Freebies and Discounts for Our Health Care Heroes

Healthcare workers have always been our nation’s undercover heroes, working tirelessly in the service of others without much celebration of that fact. The COVID-19 pandemic has shined a light on this work, however, throwing into sharp relief the bravery, selflessness, and heroism America’s healthcare workers display every day.

If you or someone you know works in healthcare, the below list was compiled to share the way many companies are saying thank you for this important, life-saving work: through freebies and discounts. We hope you’ll find something on this list that makes you smile during this challenging time.

Our Special Offer

Let’s start with what we here at Accruent Advisors would like to offer to anyone working in the medical field in the Winston-Salem area: a complimentary 30-minute session with one of our financial advisors. We welcome you to ask us any financial questions you may have and receive our professional recommendations and advice free of charge. If you’re interested, please use this link to find a convenient time! We would love to speak with you.

10 April 2020

Scams Abound Amid Pandemic Panic

Written by Barry J. Swaim, CFP®, Posted in Blog

The following guidelines can help you protect yourself from these digital scams and stay clear of suspicious links you may come across in your internet travels.
Scams Abound Amid Pandemic Panic

Sadly, as is the case in any crisis, there are those among us who are looking to capitalize on cruelty and take advantage of heightened vulnerabilities. Hackers are trying to lure victims to click on COVID-19 related hyperlinks that contain malicious software and other computer viruses. In some cases, these scams look like official messages from the government and they send people to fake websites where their sensitive information can be stolen. 

The following guidelines can help you protect yourself from these digital scams and stay clear of suspicious links you may come across in your internet travels.

10 April 2020

Stay Connected and Focus on the Long Term to Withstand Coronavirus

Written by Barry J. Swaim, CFP®, Posted in Blog

Here are some things you can do to care for your body, your mind, and your perspective every day during this difficult time.
Stay Connected and Focus on the Long Term to Withstand Coronavirus

One unique challenge of the coronavirus pandemic is that it’s a global crisis that’s also affected each and every one of us in a very personal way. We’re all learning to balance our worries about huge topics like public health care and the economy with our own disrupted schedules and the daily needs of our loved ones.

Rule number one of good financial planning is: control the things we can control. We think that’s a good piece of advice for dealing with the coronavirus pandemic as well. Here are some things you can do to care for your body, your mind, and your perspective every day during this difficult time.

Move more.

26 February 2020

Your 2020 Financial Well-Being: Control What You Can Amid New Laws and Predictions

Written by Barry J. Swaim, CFP®, Posted in Blog

How to Tune Out the Talking Heads and Focus on Your Goals
Your 2020 Financial Well-Being: Control What You Can Amid New Laws and Predictions

 Between the upcoming presidential election and the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which became law in December, it’s easy to begin worrying about what 2020 will mean for your personal finances. We refer to these as exogenous factors. When your head starts to spin, though, remember to focus on the things you can control or endogenous factors.

10 February 2020

Practicing Good Health and Financial Habits Will Lead to a Fulfilling Retirement

Written by Barry J. Swaim, CFP®, Posted in Blog

The most successful retirees are those who feel both healthy and secure.
Practicing Good Health and Financial Habits Will Lead to a Fulfilling Retirement

Many people think of their physical health and their financial security in terms of two separate goals, but the truth is they are very much linked. In fact, a recent study published by the Association for Psychological Science showed that whether or not an individual contributes to a 401(k) plan is a good predictor of their overall health. Those who contribute to a retirement fund are far more likely to take positive steps toward health and wellness than those who do not.

29 January 2020

Is Charitable Giving Part of Your Financial Plan?

Written by Barry J. Swaim, CFP®, Posted in Blog

Studies Show Philanthropy is on the Rise
Is Charitable Giving Part of Your Financial Plan?

For a growing number of people, an important part of financial planning is the ability to give back to meaningful charitable causes. In fact, according to Giving USA’s 2018 Annual Report on Philanthropy, individual giving is at an all-time high. As you consider whether charitable giving will play a role in your financial planning, read on for more on the state of philanthropy in the U.S.

16 December 2019

Giving the Gift of Financial Literacy to Your Loved Ones

Written by Barry J. Swaim, CFP®, Posted in Blog

This holiday season replace traditional gifts with one that will last a lifetime.
Giving the Gift of Financial Literacy to Your Loved Ones

As you make your list and check it twice this year, consider moving away from traditional, tangible gifts in favor of a lesson that will last long past the holiday season: financial literacy. It’s truly the gift that keeps on giving, and it’s appropriate for children, your friends, and even your parents.

Money Lessons for Kids

Even the straight-A students in your life likely aren’t getting much financial education at school. Teaching them money smarts from a young age will pay dividends in the future – figuratively and literally! Here are two common methods for teaching children smart money habits:

20 November 2019

Do We Inherit Money Beliefs from Our Parents?

Written by Barry J. Swaim, CFP®, Posted in Blog

Learn How Your Childhood Impacts Your Financial Outlook as an Adult
Do We Inherit Money Beliefs from Our Parents?

As children, we’re all like sponges. We pick up on our parents’ habits and values related to everything from sports teams to food preferences. And, whether we intend to or not, we often inherit our parents’ attitudes about money, too. We call this your money personality.

03 October 2019

What to Expect Financially When You're Expecting: Part IV

Written by David Klepeisz, CFP®, EA, Posted in Blog

In the final part of this series, we will cover savings goals and college savings plans.
What to Expect Financially When You're Expecting: Part IV

While tearfully saying goodbye to your little bundle of joy at college seems lightyears away, now is a good time to start putting some money away for college. Based on information compiled by Vanguard, the average cost of college has increased by 6% per year. Since I live in the state of North Carolina, I’ll use the University of North Carolina (UNC) for my example. UNC’s current posted undergraduate tuition cost is $20,100 per year. Projecting the current tuition cost increasing at 6% every year for a four-year degree, in 18 years, you could be paying $250,981 for a degree!

10 September 2019

How to Make Your Empty Nest Time a Prime Time in Your Life

Posted in Blog

The empty nest transition can be emotional, but it should also be exciting.
How to Make Your Empty Nest Time a Prime Time in Your Life

Time flies when you’re a parent. Just when you’ve wrapped your head around the demands and responsibilities of raising a child, you turn around and your little bundle of joy is ready to head out into the world.

This empty nest transition can be very emotional. And in some cases, like children who stay on your health insurance until age 25, the break isn’t as clean as it used to be. But this change should also be exciting! Here are some tips on how you and your spouse can stay positive and make the most out of all your new free time, all that new space, and hopefully, all that extra money.

21 August 2019

What to Expect Financially When You're Expecting: Part III

Written by Nathan Snow, CFP®, Posted in Blog


In this series we will cover things you should consider financially as you prepare for your new bundle of joy.

PART III: Health Insurance and Life Insurance: what to know and what to do

What to Expect Financially When You're Expecting: Part III

Our third article in the What to Expect Financially When You’re Expecting series centers around important things to consider surrounding two of your most important insurance coverages i.e. health insurance and life insurance. As is often the case, there are other insurance coverages that are important in this overall discussion, but health and life are two of the most important and the ones that you should spend time looking into as you await your new baby.

12 August 2019

Are You Taking Advantage of “The Longevity Effect” to Get a Greater Return on Life?

Posted in Blog

This generation of retirees is going to live longer than any in history.
Are You Taking Advantage of “The Longevity Effect” to Get a Greater Return on Life?

Today’s seniors are healthier, more active, and receiving better preventative care. And on top of that, a growing group of scientists is trying to harness technology and modern medicine to slow down the aging process.

Experts call the cumulative effect of these changes to life expectancy “the longevity effect.” They project that extending our years of healthy living can have tremendous benefits both to individuals and to society as a whole.

Let’s look at some of the cutting-edge advances in slowing biological aging, as well as what experts recommend folks can do right now to stay more than just young at heart.

22 July 2019

What to do When One person has more Debt than the Other in a Relationship

Posted in Blog

What to do When One person has more Debt than the Other in a Relationship

You’ve met the one. You plan to spend your life with this person, but there is a problem, they have a lot of debt. If you’ve worked hard to avoid or get yourself out of debt, it’s understandable that the idea of taking on someone else’s would be unpalatable at best. At worst, it could be a deal-breaker, as financial conflicts are a major cause for divorce.

  • 47% of couples report being financially mismatched, where one is a saver and the other a spender.[1]

Talking about money can be difficult in the best of times, so even figuring out how to start a conversation about a partner’s acquired debt can be hard. It’s important to work on the debt together, and know that you are not alone, only 23% of Americans report being “debt-free” and 38% report finances being a major issue in their marriage.[2] In this article, we will go over some simple steps to help you and your partner manage the debt, as a team.

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