If you are on track for retirement, college, have an emergency fund, have bought all your cars in cash, and check all the other planning boxes, but find yourself with extra cash, where is the best place to put it? It may seem like a simple math problem to decide if investing is a better option than paying down your mortgage, but the math isn’t actually that easy. Nate Reineke and Kyle Hoelzle break down why it’s not an easy question to answer and the caveats that complicate the math. We also discuss how paying off your mortgage faster helps reduce risk as you head into retirement. We also answer your colleagues’ questions. An ENT in New York says, “If my employer updates the plan’s default investment option, does that change how my current retirement account is invested?” A Critical Care Doctor in Ohio asks, “My oldest child is in college, and we have some of his tuition money in a high-yield savings account. Should we move it to his 529?” An ENT in Oregon wonders, “How should investors think about owning broad index funds when they disagree with the practices of some of the companies inside them?” Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and get on track. To find out if we’re a match visit physicianfamily.com and click get started or, you can ask a question of your own by emailing podcast@physicianfamily.com. See marketing disclosures at physicianfamily.com/disclosures

The seasons have changed, and fall is coming to an end, which means the holidays are here! While Nate may not be the biggest fan of Thanksgiving food, he and Chelsea take some time to reflect on life and money lessons they are thankful to have learned, often around a dinner table. Nate Reineke and Chelsea Jones break down some of the valuable lessons they learned when they were young, like “don’t spend money you don’t have yet,” and Chelsea’s favorite, “pay yourself first.” We also discuss your colleagues' questions. A Neurosurgeon in New York just got a bonus payment and has a large lump sum to invest. Should they do a one-time deposit to their taxable account or dollar cost average? A Cardiologist in Oregon says, “We earn $700k/year and we watch what we spend to some extent, yet at the end of the month, we are out of money. What do you think the problem is?” The wife of a retired General Surgeon in Oregon asks, “My husband is on Medicare, but I am not, and my insurance covers our youngest son. Should I have an HSA?” A Dermatologist in Texas says, ”My in-laws are selling their home and we are thinking about buying it and turning it into a rental property. What do you think?” However you celebrate the upcoming holiday season, we at Physician Family Financial Advisors are thankful for you! Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and get on track. To find out if we’re a match visit physicianfamily.com and click get started or, you can ask a question of your own by emailing podcast@physicianfamily.com. See marketing disclosures at physicianfamily.com/disclosures

If you get a distribution from your 457, it may feel like income that you can do whatever with. This time of year, it may be tempting to spend it on a Christmas retreat or a New Year’s reset, but is that going to steal your retirement nest egg? Nate Reineke and Chelsea Jones break down how that distribution can be used to bolster your retirement plans and how for Physician Family clients, it is already factored into their plan. We also answer your colleagues' questions. A Surgeon in New York says, “We are a little bit ahead on college savings for our 7 and 9 year old children, should we slow down?” Retired Family Medicine Doc in Oregon wants to know if they should do QCDs next year? A Psychiatrist in Chicago asks, “We want to move to a better neighborhood and buy a house that is twice as expensive as our current home. If we can afford the monthly mortgage, why not do it?” A Retired Urologist in Oregon is wondering, “Should we consider taking more than just the RMD in our inherited IRA in order to reduce ballooning during the end of the 10-year period, causing our taxable income to spike?” Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and get on track. To find out if we’re a match visit physicianfamily.com and click get started or, you can ask a question of your own by emailing podcast@physicianfamily.com. See marketing disclosures at physicianfamily.com/disclosures