Thinking ahead about how investing can support financial goals is the purpose of planning. Naturally, there’s lots of talk about common planning targets: retirement and college. But there’s also consideration of how to achieve multiple goals at various stages of life — whether covering basic needs or leaving a legacy — and how taxes and tax planning could impact results. Articles in the planning category allow you to clarify how today’s decisions can impact efforts to grow, manage, and maintain wealth.

Financial Health Matters Earlier than Expected

The more students can own the consequences of their choices, financial and otherwise, the more likely they’ll become and remain financially healthy. Finances alone shouldn’t drive decisions. But decisions carry financial implications and these ought to be acknowledged and considered.

The White Coat Investor Book Review

Earning a high income doesn’t automatically translate into high net worth. In some cases, high earners simply spend more and end up with fewer assets than more moderate earners. This problem can be especially true of physicians, which often targets of unsavory financial professionals. Are you a medical resident or physician? Then you could benefit from reading The White Coat Investor by James M. Dahle, MD. Check out my review here.

Planning with a Mortgage Amortization Schedule

A mortgage amortization schedule can be useful for: comparing my loan-balance calculations to the mortgage company’s records; identifying when mortgage insurance should no longer be required; analyzing the impact of extra payments; and more. Here’s a downloadable spreadsheet that you can use for planning purposes.