College Savings Plans

13 Tax Mistakes Doctors Make That Cost Thousands

Tax mistakes are the most common financial mistakes physicians make. Errors, oversights and outright blunders cost thousands in unnecessary income taxes so a little tax planning goes a long way to save money for doctors.

If you want to catch mistakes before they cost you, check out the list below. By the way, the financial mistakes you see here are real: we have seen at least one doctor make every error on this list. (See Assumptions at the end of this article.)

1. Overlooking the Health Savings Account means overpaying taxes

A Health Savings Account (HSA) is a tax-advantaged savings vehicle that lets you make tax-deductible contributions, enjoy tax-deferred growth, and make distributions that are tax-free when used to pay qualified medical expenses. it’s also the best tax break you can get as a physician since it’s a permanent benefit.

Anyone who is covered by a qualifying high deductible health plan (HDHP) can contribute to a Health Savings Account. Many doctors don’t know they have a HDHP option or they don’t understand how HSAs work, so they stay the course with first-dollar coverage and lose the tax benefit.

This mistake costs doctors who are eligible for a family HSA plan $2,228 each year.

2. Spending your HSA makes healthcare less affordable in retirement

Health Savings Accounts are poorly understood by most physicians who often mistake them for FSAs (Flexible Spending Accounts). With the balance in a Flexible Spending Account, you must “use it or lose it” by the end of the year. With HSAs though, “using it” means you lose the power of tax-free compound growth. The smart move here is to invest the HSA balance and let it compound over time.

By making the mistake of spending your HSA each year, you throw away more than $390,000 in tax-free earnings over a 30 year period and that’s money you could have used to cover the cost of healthcare in retirement.

3. Skipping the 529 tax deduction is like skipping college

Section 529 college savings plans are tax-deferred accounts that can be used to pay qualified higher education expenses including college tuition, fees, room, board and the cost of a computer.

While almost every physician has heard about 529 plans, it’s no wonder they tend to skip the accounts altogether. The rules— including how much you can contribute, how much you can deduct, how many accounts you need and whether the deduction is granted to one taxpayer, one return or one account—all vary from state to state. Still, it makes sense to puzzle out the rules, especially in more expensive states where the top tax rate can run to 9%.

Physicians who pay taxes in Colorado, Georgia, Idaho, Iowa, Kansas, Louisiana, Maryland, Michigan, Mississippi, Missouri, Montana, Nebraska, New Mexico, New York, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Utah, Virginia, West Virginia, and Wisconsin all get a state tax break. In Oregon, the deduction is worth $455 per year. In New York, it’s worth $882 per family. In a handful of states—Colorado, New Mexico, South Carolina and West Virginia—the deduction is unlimited. Perversely, the state with the highest tax rate offers no deduction at all: thanks California!

 No matter where you live, 529 plan accounts can grow tax-deferred until you withdraw the money to pay for college, tax-free. Assuming a savings fate of $500 per month over 18 years, skipping the 529 plan is a mistake that can cost physicians over $90,000 in tax-free growth: enough to send one child to a state college for four years.

4. Believing you cannot contribute to an IRA leaves assets unprotected

Tax advisors often tell physicians “you cannot deduct an IRA contribution” which doctors mistakenly understand to mean, “there’s no reason to do an IRA.” It’s the first logic error in this two-part tax blunder.

Assuming annual household contributions of $11,000 over 30 years, the “tax arbitrage” opportunity—the way you can leverage your current high tax bracket against the lower tax rates you will see in retirement—is worth more than $168,000 to a physician family. The mistake is compounded by the fact that the alternative vehicle to hold these savings is often a taxable account where income and dividends are taxed every year.

When you combine this mistake with the fact that IRAs receive asset protection from creditors under the Bankruptcy Abuse Prevention Act, it’s easy to see how a well-meaning tax man’s casual comment can steer plenty of docs in the wrong direction. But there’s more to this story.

5. Failing to use a Backdoor Roth IRA makes retirement more taxing

A “backdoor Roth IRA” isn’t really a Roth IRA at all. It’s a Traditional IRA that receives a nondeductible contribution that is converted to a Roth IRA.

The physician family who contributes $11,000 to Traditional IRAs each year for 30 years ($5500 per spouse) and then dutifully converts those contributions to a Roth IRA will owe no income taxes to withdraw the money.

On the other hand, physician families who merely contribute to a Traditional IRA and fail to do the conversion will be forced to begin withdrawing the money at age 70½ and pay more than $90,000 in income taxes.

6. Ignoring Roth rules makes the Backdoor Roth (surprisingly) taxable

The rules surrounding IRA conversions are so complicated that many physicians wind up paying taxes for something intended to save them.

First, physicians need to understand there are two kinds of money in most IRAs: pre-tax money (that comes from 401k rollovers and previously deducted direct IRA contributions) and post-tax money (that comes from direct contributions that were not tax-deductible). You can think of this as “bad money” (pre-tax) and “good money” (after-tax). To effect a successful Roth conversion, you have to separate the good money from the bad (using a 401k rollover) or you will pay taxes on the bad money that is converted.

Second, doctors need to know that “IRA” means all of your Traditional IRAs, no matter where they are held, and your SIMPLE and SEP-IRA balances. The IRS sees all of these accounts as “your IRA” such that when you convert one, you are deemed to have converted a pro rata portion of all your IRAs.

Finally, even if you manage to separate the good money from the bad, you still need to handle your tax return correctly. If you fail to tell your tax specialist that you “converted a Traditional IRA with basis to a Roth IRA” or if someone fouled up Form 8606 of your tax return somewhere along the way, you are very likely to (unknowingly) pay unnecessary taxes which might conservatively be estimated at $3,600 for a physician family with two IRAs.

7. Rocking the wrong Roth makes doctors pay more tax now and less later

Did you know there are three Roths? It’s true. There’s the “front door” Roth IRA that’s right for interns, residents and hardworking but underpaid doctors who can contribute directly to a Roth IRA. Then there’s the backdoor Roth IRA that’s right for docs who cannot directly contribute to a Roth IRA. And finally there’s the Roth 401k that’s right for low earners but disastrous for high earners.

When you contribute to the non-Roth portion of your 401k, you are able to defer taxes into the future, when rates may be lower for you.

But when you contribute directly to a Roth 401k, you are essentially raising your hand to the IRS and saying, “please tax me now.” If you’re a high earner, you’ll pay an extra $6000 in taxes each year by rocking this Roth.

8. Underfunding your 401k is like giving extra money to the tax man

Sometimes it makes sense not to fund your 401k, like when there’s no employer match, when you’ve got a ton of high interest rate student loan debt and when you have zero dollars in your Emergency Fund. But for all but a few physicians, the best bet is to stuff your 401k as full as you can.

Even knowing this, many physicians fail to do so. Sometimes there’s a mix up and they fail to enroll. Other times they enroll but fail to contribute enough to get the match. And occasionally the contribution limits change but they have elected a flat-dollar contribution amount that’s never reviewed, resulting in a contribution gap.

To avoid paying an extra $6,000 to $8,000 a year in taxes, check your 401k account every year in September to see if you’re on track to make the maximum contribution by year’s end. If not, you still have time to fix it.

9. Working extra hard to pay extra taxes for self-employed physicians

Moonlighting, doing locums, researching, lecturing, teaching, acting as a contracted medical director and other sideline doctor gigs are a great way to pick up some extra cash—and extra taxes— if you overlook special deductions available only to self-employed physicians.

If you don’t have a 401k at work, you can easily set aside $18,000 in a tax-deferred self-employed retirement plan. Physicians who do have a 401k at work can establish a profit sharing retirement plan for their own business and contribute up to $36,000 in 2017. If you have a whole bunch of self-employment income, you can even establish a defined benefit plan and save even more. But doctors who didn’t know about these opportunities will likely pay somewhere between $2,000 and $9,000 in extra taxes.

10. Blowing up your retirement plan by overlooking the fine print

While this is a less common mistake, the consequences are dire. Small physician practices who lack a skilled business manager—often radiologists and ER docs—sometimes have an “everybody does their own thing” style of retirement plan in which everyone opens a SEP-IRA wherever they like and everyone contributes as much as they like.

In these cases, there is a de facto qualified retirement plan in place for the entire practice but there is no documentation and no one checking to make sure the contributions meet IRS guidelines. Occasionally these groups will hire a W2 employee and exclude them from the plan, which runs afoul of the rules surrounding “affiliated service groups.”

These situations are complex and often require an ERISA attorney and an accountant to straighten out the plan. Those who fail to get with the program run the risk of having their plan “disqualified” which leads to immediate taxation of the entire plan balance plus the payment of penalties, undoing all the tax savings from the plan. It’s impossible to estimate the cost of this mistake but know that the low end is on the order of tens of thousands of dollars.

11. Holding taxable bond funds in a taxable account

Although veteran investors know that a taxable bond fund generates income that causes state and federal income taxes, many physicians—even those under the care of financial advisors who should know better—own taxable bond funds in taxable accounts.

For example, a surgeon owns a joint account with her husband that holds $1.2 million in mutual funds, including $400,000 invested in corporate bonds. Those bonds yield dividends of approximately $13,000 this year. Their tax bill for these dividends is approximately $4,000, so only $9,000 remains of the return they garnered.

Had this couple purchased a tax-exempt bond fund that pays dividends of $11,000, they may owe no taxes. As a result, this couple would have an additional $2,000 this year and years to come.

12. Giving away tax benefits when donating to charity

When you give to charity, you can donate cash or you could donate securities. Since qualified charities are treated as non-profit organizations under the tax code, giving them appreciated securities means physicians not only receive a tax deduction but they avoid paying capital gains tax.

For example, a physician family owns mutual fund shares worth $50,000 for which they paid $30,000. If they donate the shares to charity, the charity can sell the shares to raise $50,000 cash and sidestep the capital gain. However, if that couple makes the mistake of first selling the shares, they will pay unnecessary capital gains tax of $2,000.

13. Just saying “yes” to stupid tax penalties

While many physicians assume the Internal Revenue Service is a bunch of jack-booted thugs intent on making life difficult, the IRS tends to be a little more understanding, particularly in the case of honest first-time mistakes.

If you have failed to file or failed to pay your taxes and it’s your first offense, you can ask for an “abatement” by writing a well-worded letter to the IRS asking them to waive the penalty. We all make mistakes but failure to ask for an abatement means sending good money after bad. Remember, if they say “no,” you are no worse off than if you hadn’t asked at all.

 

The biggest tax mistake physicians make is to think of taxes only at “tax time” when it’s too late to do anything about it. Most doctors file their personal taxes on a calendar year basis which means that you pay on April 15th for everything that happened between January 1 and December 31 of the prior year… after the fact.

To avoid making tax mistakes that cost thousands, start thinking about this year’s tax bill right now, and check in with your financial advisor and your tax specialist throughout the year to see what you can do to pay no more than what you truly owe.

ASSUMPTIONS: Federal marginal income tax rate of 33% (which kicks in at $230K for joint filers), a 20% capital gains tax rate, no state income tax, no Medicare surtax and a hypothetical 7% return. For post-retirement tax calculations, we assume a 25% federal marginal income tax bracket. These are conservative assumptions which means a few physicians will save less by avoiding the mistakes above but many doctors can save much more than what is demonstrated.

Physician Family College Planning Starts with Junior Year

Choosing a college is one of the most important decisions your family will make. This choice—about where they’ll spend the next four years and where you’ll spend somewhere between $100,000 and $260,000—has a huge impact on their lives. What they will learn, where they might live, how much they’ll earn… even who they might marry… it’s all up for grabs in this one decision.

So how do you choose the right college?

“Take a look inward way before you look outward,” urges Julia Surtshin, an independent college counselor in Portland, Oregon. Instead of asking, “‘What college can I get into?’ ask “What college out there meets my requirements?’” she advises. Take stock of your child’s strengths, their challenges and their expectations about college, then use what you learn to build what Surtshin calls a “thoughtful shopping list” of attributes that define the right school for your child.

While some parents may equate “the right college” with those schools that rank highly in the national polls. Surtshin urges parents to “ignore the rankings” since they give no indication about whether your child can succeed there. “Colleges are like onions. They have lots of layers, and to really understand them you’ve got to peel them back layer by layer,” she says.

To help parents build a list of possible schools, she considers these “layers” but she also keeps an eye on key statistical indicators. For example, the freshman retention rate (the percentage of freshmen who return as sophomores) can give you some idea of how well new students are served by the college. Surtshin’s alma mater, Columbia University, sports an incredible 99% freshman retention rate while the national average runs about 70%. Some schools have much lower retention rates which is “a bright red flag,” she says.

Cost may be one of the factors parents consider as they choose a school but a narrow focus on the price tag may lead parents to make a bad decision. For example, Surtshin says many families believe private colleges are too expensive but the reality is that “very few students pay sticker price.” While it’s true that the Ivy League schools do not offer merit-based aid, other private schools may offer so much aid that the actual cost of attendance falls in line with that of public in-state schools.

To get a good return on your college investment, your child needs to view college as “more than just an information transfer process,” Surtshin says. A student who finds a mentor, builds a network, conducts research, accepts internships, and pursues their passion will gain great value from their chosen school no matter where they go. However, “If all you do is just go to class and get good grades, you’re out of luck,” she warns.

“Ultimately, college success is about attending an institution that prizes you for who you are, supports your dreams and aspirations, and offers the environment, resources, and experiences to enable you to reach your goals,” Surtshin says.

Surtshin, who has 30 years experience helping families make this crucial decision, sees the college years as some of the most formative years of life. “The choice of college has an incredible impact on how students view themselves and their ability to navigate the world,” she believes.

If your child is a rising junior, now is the time to start the college selection process. Their activities this summer and their academic performance in the coming year figure greatly in how they are viewed by the colleges where they will apply.

You can reach Julia Surtshin at (503) 968-2544 or visit her on the web at www.collegeahead.us.

How to choose a 529 plan

While a 529 plan account may the best vehicle for a your family’s College Fund, making the right choice means you’ll need to understand the basics. As you do your financial planning for college, keep these thoughts in mind:

  • It’s not where your child goes to college, it’s where your family lives that matters: You can contribute money to any state’s 529 plan, regardless of where you live, and you can use the money from your account to send your student to any qualified college in any state. The state “brand” of your 529 plan is important for tax and estate planning reasons, but it does not limit your ability to make payment to the school of your choice.
  • It’s not the student’s money: When you open a 529 plan account, you’re going to open the account in YOUR name (or your spouse’s name) because you are actually the account owner. This may come as a surprise, but your student is only the “beneficiary” of the account, meaning they can only access the account by going through you.
  • This money can only be used for college: Distributions from 529 plan accounts for purposes other than Qualified Higher Education Expenses (QHEE) may result in taxes and penalties, so store only college money in the 529 plan, not money you may need for private K-12 education.

Now that you understand the basics, lets look at the steps you’ll need to take as you do your financial planning for college.

  1. Find out if your state offers a tax advantage for 529 plan contributions. Colorado, Georgia, Idaho, Iowa, Kansas, Louisiana, Maryland, Michigan, Mississippi, Missouri, Montana, Nebraska, New Mexico, New York, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Utah, Virginia, West Virginia and Wisconsin offer state tax benefits for 529 contributions made by taxpayers in those states.
  2. Figure out how your state’s tax break works. Contact your tax specialist and ask these three questions:
    • “How much money do I need to contribute to my state’s 529 plan to get the maximum tax benefit?”
    • “How much will I save in taxes when I make my contribution?”
    • “What’s the deadline for making a contribution?” Some states will only allow you to deduct calendar year contributions from your tax return while others will allow you to contribute up until the time your return s filed (as is the case with IRA contributions). If you discovered this article in March, this means you might still have a chance to save taxes if you forgot (or didn’t know) to make a contribution last year.
  3. Research investment results for both in-state and out-of-state plans. If your state offers a tax break for 529 plan contributions, it might seem like a no-brainer to sign up for your state’s plan. But what if your state’s plan is dogged by poor performance? The cost of lower returns may outweigh the benefit of the tax break, so do a little digging and run a quick calculation.
  4. Calculate the performance gap. That’s the difference in total return between your in-state plan and the out-of-state plan.
  5. Think about the amount of money you will have in the plan. If you’re targeting a four-year private university at a cost of $200,000 per student, and your family has nothing saved today, the average balance between now and then will probably be about $100,000.
  6. Calculate the opportunity cost of using the in-state plan by multiplying the performance gap by the average amount you’ll have invested, like this:(Amount Invested) x (Performance Gap) = Opportunity Cost)
  7. Let the opportunity cost help you choose your plan. If the tax benefit outweighs the opportunity cost, consider using your state’s plan. But if the opportunity cost is much larger than the tax benefit, the out-of-state plan might be a better choice. I say “might be” because there’s one more thing you need to consider as you choose your plan: asset protection. Some state plans confer a measure of protection against the claims of creditors, and in some states this protection only extends to physicians who live in that state and contribute to the in-state 529 plan. The law on this issue varies from state to state, so you might want to seek legal counsel if you’re at all concerned about the protections your plan may (or may not) afford.

Choosing the right 529 plan is not as easy as it should be, but these steps will help you make the right choice for your family.

Lawrence B. Keller, CFP®, CLU®, ChFC®, RHU®, LUTCF is the founder of Physician Financial Services. Based in New York, he offers income protection and wealth accumulation strategies for physicians nationwide. Contact him at (800) 481-6447 or LKeller@physicianfinancialservices.com.

W. Ben Utley, CFP®, is an attending advisor with Physician Family Financial Advisors, a fee-only financial planning firm helping physicians throughout the U.S. to make a plan and get on track with saving for college and invest for retirement.

Section 529 plans: The best way for doctors to save for college | Ophthalmology Business magazine

You went to college, and your kids are going to college, too. But their education will cost far more when they attend than when you did. The College Board's recently released Trends in College Pricing report shows that the total average cost at in-state public colleges rose to an average $21,447 per year, while the average annual cost for private colleges rose to $42,224. Given that costs increased at a rate of 5.6% per year over the last decade, a young physician family with three children might expect college to cost about $1.2 million in the future. It's unlikely that your kids will qualify for substantial student aid and impossible for them to earn that much, so you'll need to do some financial planning to help them matriculate. When saving for college, a Section 529 college savings plan is the best vehicle for most physician families.

Three reasons to consider 529s

The tax benefits are a good fit for doctors. In many states, you get a tax deduction for making a contribution, including Colorado, Georgia, Idaho, Iowa, Kansas, Louisiana, Maryland, Michigan, Mississippi, Missouri, Montana, Nebraska, New Mexico, New York, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Utah, Virginia, West Virginia, and Wisconsin. No matter where you live, your account grows tax-deferred until you withdraw the money. Then, when you use the money to pay qualified higher education expenses (QHEE), the money can be withdrawn tax-free. Qualified higher education expenses include tuition, fees, books, supplies, equipment, andfor students pursuing a degree on at least a half-time basisa limited amount of room and board. The cost of a computer is not QHEE unless it's required by the school.

Section 529 plans yield one other valuable break: estate taxes. Contributions to the plan are seen as a completed gift by the estate tax code, so your contribution qualifies for the $13,000 annual gift tax exclusion amount. In fact, you can contribute up to $65,000 per child and then elect to treat the contribution as if it were made over a 5-year period. So a physician family with two children could move as much as $260,000 into the planand out of their estatein a single year.

Worried about getting sued? You might want to move a chunk of cash into a 529 plan to get some creditor protection. Under Section 541(a)(6) of the federal Bankruptcy Code, certain contributions may be exempted from bankruptcy, depending on how much you contributed, when you contributed, and the relationship between you and the beneficiary (student). Some states also protect 529 plan accounts from creditors. Consult with your estate planning attorney before relying on a 529 to shield your assets.

One form of protection for 529s is certain: The account is protected from your kids. When you open an account, your name goes on the account application and your child/student's name goes on the blank labeled "beneficiary." In this case, the word beneficiary doesn't mean "the person who gets your money if you die" (that's the "successor account owner"). The beneficiary is the child who's going to college. Unless you crack open the account and give the money directly to your child, he cannot spend it himself. Unlike other arrangements including the Uniform Transfers to Minors Account and the Coverdell Education Savings Accountthe money is beyond his reach. This means your college money goes to college, not the local sports car dealer.

Saver beware

Section 529 plans are right for most doctors, but not all. For example, I've seen one case where a physician was intent on sending his children to a religious-based school that did not qualify for accreditation. As a result, tuition paid to that school does not meet the test for qualified higher education expense, so a 529 plan would not have been the best savings vehicle.

There is also a chance that you might end up with too much money in your account. For example, if you saved enough in your 529 for your daughter to attend Brown but she decides to go to Michigan State instead, you'll probably have two times as much money in the account as she needs. To get the excess balance out, you could either use the balance to pay for a family member's college expense or make a nonqualified withdrawal, incurring taxes and a 10% penalty.

Steps toward saving

1. Calculate how much you will need to save. A number of online calculators help you get the right answer. Be sure to include money you've already saved and money that grandparents have promised.

2. See if your state offers the best option. Compare the investment performance of your state's plan with options available from other states. Weigh the benefits of the tax break that may be available in your state at www.savingforcollege.com.

3. Open an account and decide how to invest. Caution: The yearsto- college option is easy to use but it may bring more risk than you're prepared to bear. Investment options geared for younger children are front-loaded with exposure to the stock market. Ask your registered investment advisor to help you choose the option that's right for your family.

4. Start saving. Most plans allow you to open an account with as little as $100 per month. A married couple can easily contribute up to $26,000 per child each year without running afoul of estate tax issues. Joe Hurley, the leading expert on saving for college, calls the 529 plan "the best way to save for college." Even though the tax benefits, creditor protection, and kid-friendly usability were intended for everyone's benefit, these features make 529 plans the best way for physician families to save for college, too.

W. Ben Utley, C.F.P., helps young doctors get on track with a personalized one-page plan to own a home, save for college, invest for retirement, and become financially secure. Physician Family Financial Advisors Inc. delivers fee-only financial planning and independent investment advice to clients coast-to-coast from its headquarters in Eugene, Ore. Visit www.physicianfamily.

This article originally appeared in the July 2012 ezine of Ophthalmology Business, page 23. To download a PDF version, click here.

A Friendly Reminder About "Some Day"

Over the past few days, there's been no shortage of bad news in the financial headlines, and I know it can be scary, and I'm here to help you get through it. When bad news comes, you have a choice about what you do with it:

  1. You can believe it, then act on it in hopes that what you do will be a good move, or
  2. You can accept it, and stick to your plan.

What does your plan say?

It probably says something like, "Save $X each month so you can send your kids to college and still be able to pay your bills some deay when you can't practice medicine any more. Invest using a balanced blend of high risk and low risk investments."

Let's look at your plan together (and if you don't have one, by all means, stop right here and call me to get one together):

  • "Save $X each month": If you stop saving (or don't start), you'll never reach your goal. So keep saving. And do it every month, so it becomes a habit. Creating a "culture of savings" in your life means you'll have money in the future when you need it. Creating a culture of savings in your household means your kids will have money in the future, too.
  • "so you can send your kids to college": If you have kids, they're going to go to college, and kids in physician families have just about zero chance of getting anything other than a scholarship because mom and dad earn too much for need-based financial aid. With the cost of college topping $20K for public and $40K for private school, it's virtually impossible for them to "work their way through school" (remember, that $40K is after-tax money). You have to keep saving.
  • "and still be able to pay your bills some deay when you can't practice medicine any more": You love working, and you never want to quit your practice. But some day in the far distant future, you will be forced to stop, either because you've stopped breathing, or standing, or just because you can't stand the bureaucracy and the paperwork any more. While your "retirement" may be a long way away, "some day" you'll need a big retirement fund, so keep saving.
  • "some day": That could be a long, long time from now. Maybe five years, maybe a decade, maybe several decades. And even when "some day" comes, you will still need your savings to keep pace with inflation, and it's unlikely that safe harbors like bank deposits and money market funds will allow for that, at least not in the foreseeable future, so you'll need to be fully invested in something with at least some risk until you leave this planet.

And now, for the last part: "Invest using a balanced blend of high risk and low risk investments."

Today's news tells us that high risk investments (a.k.a. "stocks" or "the market") have crashed. But what about the other half, fourth or three-quarters of your savings? In many cases, low risk investments have either held their value or increased in value.

Stick with the plan.

When it's time to rebalance your accounts (I look at this quarterly, and do it as needed), there's a good chance you'll be able to buy some of these now-distressed investments at lower prices, and be able to reap the dividends from them for years and years to come... but only if you continue to own them through thick and thin.

Saving regularly, remaining fully invested , and rebalancing as necessary are all part of the plan. Bearing risk and stomaching volatile markets are part of the plan, too. So choose to do what's necessary to keep saving and remain fully invested: look past the minute-by-minute minutia of the news about the markets and stay focused on the future where you will still need money.

Call me if you need to update your plan or contact me to revisit your investments. And by all means, if your investments seem "broken" or if you feel the need to "do something different" let me know.