The Top Five Year-End Financial Planning Strategies

'Tis the season for year-end financial planning. Like most people, you're probably thinking about how to minimize your taxes for the upcoming year. While tax accounting is important, it's only one piece of the puzzle. As we close out the year, many other financial planning considerations exist. 

In this episode, Vestia's Partners and Financial Advisors, Lauren and Kameron, talk about year-end planning. They speak about the top five financial planning strategies that every physician should know. Lauren and Kameron also share their strategies and favorite tricks to save on taxes.

Key Takeaways

• [01:19] - The good news about the market today.
• [06:01] - The opportunities for doctors in a down market.
• [08:06] - How to plan for year-end taxes.
• [10:17] - The importance of having a CPA or an advisor.
• [15:45] - Lauren and Kameron's strategies for itemized deductions.
• [21:41] - Lauren's favorite tax-saving trick.
• [25:37] - Why cash is no longer worthless.
• [30:24] - Spending employer or self-employed benefits.

Quotes

[08:38] - "If you're a doctor, make sure you get an accountant. Don't do this on your own. Your time's way too valuable." ~ Kameron Helmuth

[13:48] - "I see many doctors who are borderline between the standard deduction and itemizing. If they were to have proactive conversations with their CPA or advisor, they could find great ways to save on taxes this year and maximize their tax return instead of just preparing and filing." ~ Kameron Helmuth

[36:12] - "We always tell our physician clients that their time and attention are better spent elsewhere. Having someone like Vestia, a trusted advisor who can steer the direction of what they need to do for year-end planning, tax accounting, and all of these things, is extremely critical." ~ Kameron Helmuth

Links 

• Crohn's and Colitis Foundation
• Marcus by Goldman Sachs
• Vestia Personal Wealth Advisors on LinkedIn
• Vestia on Facebook

Connect with our hosts

• Lauren on LinkedIn
• Kameron on LinkedIn

Subscribe and stay in touch

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• Spotify
• Google Podcasts

Financial advisors for physicians

Does your financial advisor understand our views? How to negotiate a job contract with a hospital? Or how to evaluate and finance a surgery center buy-in? With nearly 150 years of collective experience working with specialized physicians nationwide, Vestia Personal Wealth Advisors understands your challenges and your opportunities as a physician. Innovative tax strategies, proactive asset protection planning, physician mortgages, healthcare venture capital, and more. You have many competing priorities for your time, and planning for your financial health may not make the top of your list. With a shortened time window to save for retirement, the opportunity cost of financial mistakes can be high. Vestia can help you navigate the complex world of finance and make your life easier every day, starting now. Learn more vestiaadvisors.com.