In this special episode of The Money Scope Podcast, Mark Solo and Ben-bacca cover major planning and strategy points of financial planning for advisors who help incorporated business owners.
Live recorded at that Physician Financial Wellness 2024 virtual conference. Ben and I answer common questions about personal finance, investing, and corporations aimed at the physician client level.
We cover common questions about debt repayment. When should you consider incorporation & causes of premature incorporation. Dividend investing & other aspects of corporate investing. Key questions for your accountant and consideration for corporate bloat diagnosis and prevention. Other assets beyond mutual funds, stocks, or ETFs in a corporation. How do you know when you are financially independent and how can you use that?
“If you’re a DIY investor, then you’ll obviously benefit from this information. If you’re an advisor, you’d also benefit from it.”
@LoonieDoctor
“I’ve seen cases where people just don’t want to take the money of the corporation because they don’t want to pay taxes. And it ends up impacting their lifestyle.”
@benjaminwfelix
“Sometimes, investing some of these areas outside of ETFs or stocks and bonds, they fill other needs for us.”
@LoonieDoctor
“There’s probably this optimal balance between working, and saving, and spending, and paying taxes over your lifetime. No one’s going to be able to decide that in advance. But it’s one of those things that if you think about it, you can find and make adjustments along the way to try to move yourself closer to that as time goes by.”
@benjaminwfelix
High-quality content Dr. Soth, per usual! Great balance of ‘in-the-weeds’ and ‘rules-of-thumb’.
Thanks Mike! It is important to know a little bit about what the weeds look like so that you can avoid getting tangled in them.
Mark