"It makes no sense to sit on unneeded savings while carrying and paying interest on a variety of obligations such as mortgages, auto loans and... credit cards." W. Ben Utley, CFP® advises busy physicians to use excess savings to pay down debt in this article by Louis Pilla. The interest saved could easily exceed $5,000 per year.
With investors running for cover in the third year of a bear market, columnist Louis Pilla explores why doctors are beginning to look at real estate, including Real Estate Investment Trusts or REIT's. W. Ben Utley, CFP® advises physicians, "If you really want to buy real estate [to diversify away from the stock market], it makes more sense to invest in a rental property with professional property management." After all, REIT's are stocks, too.
Columnist Louis Pilla explains how an active manager has to outsmart not just one or two people, but everyone in the market. Active management won't protect doctors from downturns [in the market], say W. Ben Utley, CFP®., "the risk of having the manager mess up is greater than market risk."
Columnist Louis Pilla notes that the financial planning industry hosts several business models, and one is pay-by-the-hour advice. W. Ben Utley, CFP® admonishes physicians to just say no. He says "financial planning is a process, not a product." The hourly billing model forces doctors to manage the planning process themselves, which is a stretch since they're already so busy with their practices.
W. Ben Utley, CFP® advises doctors that asset allocation is the most important decision an investor can make. In this feature story by columnist Louis Pilla, Utley says, "a well-planned portfolio is good for all seasons and should help you stay properly invested no matter what surprises 2003 has to offer."