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Wealth Building
Wealth Building
Navigating Spending in Your Relationship
At Deerfield, we help our clients build comprehensive financial plans. That doesn’t just mean we help you plan for your investments, or create a savings strategy. We focus on more than just the dollars and cents of your plan because your financial life is impacted by so much bigger than just your finances! One way…
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Organizing Your Loan Repayment
Working on organizing your loan repayment strategy can feel overwhelming. Personally, I feel like a lot of pressure is put on young professionals to focus on a financial strategy for their debt repayment. While putting together your repayment plan based on loan balances and interest rates is important, it’s also important to focus on your…
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Charitable Giving and the New Tax Code: A Skeptic’s Perspective
With the new tax code in place, the standard deduction has increased across the board: Individuals: $12,200 Heads of household: $18,350 Married couples filing jointly, or surviving spouses: $24,400 As a result, most people – whether they’re married or not – are planning to take the standard deduction next filing season. When you take the…
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Living on a Budget in Chicago
It’s not a secret that living in Chicago can be expensive. Coming from a non-Chicago area myself, I can honestly say that the first few times I met friends for dinner or drinks was a bit of a shock. The average cost of living in Chicago is significantly higher than the rest of America. However,…
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4 Rules to Follow When Moving to a New City
Recently, I’ve had several clients all embark on out-of-state moves with their families. Moving is a really stressful life decision. The last thing you want to do when you tackle a move to a new city, or even a new state, is to add extra stress (financial or otherwise) to your life. I’ve guided several…
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How to (Financially) Prepare For Summer
As a kid, summer was always my favorite time of year. Now, as a parent, I see a lot of the problems that summer can bring. My wife and I both work, and it can be tough to balance the expense of additional child care with the desire to spend more time with our kids.…
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How to Build Wealth in Your 20s and 30s
When you’re in your 20s and 30s, building wealth doesn’t always feel like a first priority. You’re wrapping up your education, dealing with a mountain of student loans, and pursuing more immediate goals – like getting married, starting a family, kicking off your career, and purchasing a home. But if you start working toward building…
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5 Ways You Can Automate Your Finances
Did you know that automating your finances is one of the easiest ways to stay on track to reach your financial goals? The truth is, as motivated as you might feel to accomplish your money goals, it can be tough to stay the course. When you automate your finances, you’re removing the “human element” from…
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The Top 4 Financial Mistakes that Physicians Make (And How to Avoid Them)
As we go through life, we try to make the best possible decisions about our money. Sometimes, though, in spite of our best efforts – we might make a few financial mistakes along the way. Everyone falls into bad money habits from time to time, and physicians aren’t exempt from this rule. The best thing…
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Prioritizing Savings for Young Physicians and High-Income Earners
Most physicians, or high-income earners, who I talk to know that they need to be saving – they’re just not exactly sure how to prioritize their different savings goals. Having enough cash flow to fund multiple savings goals at once is a huge financial “win”, but it can also cause some confusion when it comes…
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