Right now we are being are in the midst of one of the greatest national disasters our country has ever known. At this point the only news coverage other than local that is relevant is surrounding the Hurricane and its aftermath in Texas. It is at times like these that always gets me thinking about the people in our lives and how very fortunate we are to have protected them and ourselves from the financial disasters that happen from just such an incident due to the lack of planning. This also gives me pause to consider those that we have chosen to represent us, such as bankers, attorneys, accountants or our financial advisors. When was the last time you sat down and talked with them about your particular situation? Chances are it has been a while and perhaps you are waiting for them to call.

Let’s look at this for a moment. We all think that our personal issues are the most important because they are ours don’t we? However, the sad truth is that unless we make them just as important to our advisors then chances are we will not be front and center in their minds. It’s not that they are irresponsible or don’t care, the reality is that just like the patient you are currently caring for is at this moment the most important, so is the client who is actively involved in his/her personal situation. This means that you must take the bull by the horns and sit down at least once a year to review and plan ahead. Once you have an established relationship with the people you’ve chosen make sure you schedule your annual check-up. This way you can look at your accounts and make sure they are still healthy and on track with your goals. If not then make the necessary changes. That is not to say that if you get a new position, move, add a family member or delete one that you should wait for your scheduled meeting. Your advisors are not mind readers so give them a shout out and let them know so they can adjust your accounts accordingly.

I know it seems like a lot of work with everything else you have to do, but remember just like it is your advisor’s job is to keep your best interests in mind, it is your job to make sure your interests are on their mind so you can work together toward achieving your personal financial goals.

You may not be aware but we are not only specialists in providing you with the most comprehensive disability policies available. We are also specialist in assisting you with all aspects of your financial plan. As a resident it may seem like a far off need but you might find professionals extremely useful and may I suggest that you begin to develop a personal relationship with them as soon as you can and if you are in need of some expert advice look no further.

For many young professionals there is nothing more exciting than the prospect of buying your first home, but should you?   Well let’s take a look at it.

When you enter into your residency chances are that you are not in the same city where you studied medicine.  If that is the case you will need to find new housing.  Before you decide on whether to rent or buy I want you to  ask yourself  some questions.

• Am I planning on putting down roots and building my practice in this location?
• Am I ready to invest my money (now that I have some) into a hard asset?

Depending on how you answer these questions will help in determining whether buying or renting is a good choice for you.  Now like all things there are no clear cut answers.  Of course other factors that come into play but we will not address those here.  I want to keep it simple.

If your answer was yes to both than you may want to take the leap and find a suitable home.  However if your answer was no or unclear then perhaps renting is the best option for you.  The reason being is that you don’t want to be tied down to a location, in which you may have to worry about selling, when the time comes to move.   Remember that renting may be a good option for savings especially at this time.   You can always invest in property at a later time when you have a more solid plan of action.  So its really up to you.

Hopefully, this will help you begin asking yourself the questions about housing that need to be asked and whatever your decision is make it an informed one.

Stacia Musleh

V.P. incomeprotectionspecialist.com

They day has arrived when the use of marijuana for medical purposes needs to be addressed with regard to Insurance Planning.  Currently, there are 18 states, and Washington D.C. who have legalized the use of medicinal marijuana. The Patients suffering from pain illnesses such as fibromyalgia and life altering diseases like cancer have been able to use this as a treatment method for pain management.

We already know the insurance Industry is persnickety about any pre-existing conditions and medications for applicants.  So what does this drug add to the mix?  Well, let’s look at it like this way smoking has never been high on the list of acceptable health practices for Insurance companies.  In fact recently a client who declared prescription use of marijuana had their life insurance premium go from $250 per year to $1000.  The fact that this is a prescribed drug does not make it ok in their underwriter’s minds.  There are really no studies that allow the insurers to look at this in a positive light and they are always cognizant of that when making a choice to insure or not.

If you have a prescription for medical marijuana that is already strike one.  If you have used it well that is strike two.  It can take at least two years of being free of the use of marijuana before you may then be able to acquire preferred rates . Change will come but at this point in time it is best to avoid the issue altogether by abstaining when it comes to insurance related matters.

written by: Stacia Musleh

V.P. Income Protection Specialists