Money Minutes for Doctors #39 ~ Love and Money

“The sea was angry that day, my friends - like an old man trying to send back soup in a deli”

~ Costanza, 1994

Finding a happy relationship isn't always easy. But even the best partnerships can hit a typhoon (or three) if your money personalities turn out to be anything but a perfect match. Ms. Katherine Vessenes, CFP®, RFC, Founder and President of MD Financial Advisors, is back to talk with us about some thought provoking questions that partners should consider to keep the financial relationship in smooth seas.

About Ms. Vessenes:

Ms. Vessenes works with over 300 physicians and dentists from Hawaii to Cape Cod. Her firm uses a team of experts to provide comprehensive financial planning to help doctors build their wealth and protect their wealth while reducing taxes now and in the future. Katherine is a longtime advocate for ethics in the financial services industry; and has written three books on the subject of investment strategies. She has received many honors and awards including: numerous tributes from Medical Economics as a top advisor for doctors, multiple 5-Star Advisor Awards, honored as a Top Woman in Finance, in addition to being selected to be on the CFP® Board of Ethics. Katherine can be reached at: Katherine@mdfinancialadvisors.com or 952-388-6317. Her website: www.mdfinancialadvisors.com.

Money Minutes September 2021

Doctors: Love & Money

Key Questions for you and your partner that will keep your financial relationship on steady ground:

(1) What is your relationship to money? Do you like to spend or save?

(2) How do you feel about debt? Credit card, mortgage, student loans, etc.

(3) What is your investment philosophy?

(4) What is the approach to long term and short-term spending?

(5) Do you have an emergency fund? If so, how much?

(6) When would you like to be financially independent and how do you want to get there?

(7) Children: Do we have them? Childcare choices? Education– private or public? Funding college?

(8) How do we care for our aging parents?

(9) What if our child makes poor financial choices or battles drug addiction, gambling addiction etc.?

(10) Who should manage the finances in our relationship?

As always make sure you have a budget, review your spending regularly and make sure each partner is aware of the household finances.