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By David B. Mandell, JD, MBA and Dinah Bird, Ph.D., CFP®, CIMA of OJM Group.
"U.S. Baby Boomers fear running out of money in retirement more than they fear death."
As you already know, those of you born between 1946 and 1964 are part of the 77-million strong Baby Boomer generation - one that is now contemplating retirement.(2) If you were born before 1946, you may already be retired or are seriously considering it. If you fit into either of these groups, the following issue will be paramount for all of your financial decisions moving forward: "How do I take the wealth I have saved and efficiently turn it into cash income to sustain me during retirement?" No wonder, as the quote above makes clear. Many soon-to-be retirees are very worried about running out of money in their retirement.
In this article, we will explain problems with the solutions retirees typically rely on to generate cash income in their retirement and suggest alternatives which may be safer and more efficient.
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By Donald Moy, Esq., Mathew J. Levy, Esq., and Michael J. Schoppmann, Esq. of Kern Augustine Conroy & Schoppmann, PC.
Physicians typically, and traditionally, practice in small groups. According to the AMA Physician Practice Information Survey (2007-2008), 78 percent of office based physicians in the U.S. are in practices in sizes of nine physicians and under, with a majority of those physicians being in either solo practice or in practices of between 2 and 4 physicians. Under the antitrust laws separate groups of physicians that practice in the same or related specialty and are in the same geographic market are considered "competitors". Therefore, if individuals and different physician groups come together and engage in certain concerted activities, such as collective negotiation of fees with individual payors, such action would be considered an illegal conspiracy among competitors and could be held to be a per se violation of the antitrust laws.
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By Karen Zupko of Karen Zupko & Associates.
By now, the term "Meaningful Use" or "EHR Incentive" is embedded in our vernacular. Many practices are eager to reap the payoff promised by CMS for those who adopt and use an EHR in a meaningful way.
If you are among the practices who already have an EHR or are contemplating purchasing one this year, read on!
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Webinar: The Importance of a Multi-Disciplinary Planning Process: Why Coordination of Experts is as Important to your Wealthcare as your Healthcare
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Do you feel that there is coordination when it comes to assembling the pieces of your planning puzzle (legal, tax, investments, etc.)?
When your advisor presents a tax saving idea, do they also discuss how it will affect you from a legal and/or financial perspective?
When your attorney offers asset protection advice, does he also advise you of the impact on your tax liability and investment performance?
Unfortunately, we have often found that the answer to the above questions is "no". By treating each planning topic separately, you may be missing out on opportunities, or, even worse, making costly mistakes.
You're invited to a free webinar! Four important things you will learn:
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Integration of tax, legal, investment and financial planning for your overall benefit
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The importance of tax planning ideas vs. tax return preparation
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How to build a team of advisors who will look at your financial situation globally
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The advantages of obtaining a "second opinion" on your 2011 and 2012 planning decisions
There are two webinar sessions available to accommodate your busy schedule:
- Session #1: Tuesday, July 12 at 7:00 PM Eastern Time
- Session #2: Saturday, July 23 at 11:00 AM Eastern Time
To register for a July webinar session, click here. This interactive presentation will be presented by OJM Group Director of Financial Planning Michael Lewellen, CFP® and Paul Wilson, CRPC®, Regional Manager, Private Client Services. Mr. Lewellen and Mr. Wilson are co-authors of numerous articles and books on financial planning strategies for physicians.
We look forward to meeting you during an upcoming webinar session!
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