Hello,
I am a physical therapist. I have my own practice. First year in business, and I am schedule to make about $140K gross.
27 years old. Professional for 2.5 years now.
$10,000 in my IRA.
$10,000 cash in a ING account.
Will try to maximize my IRA and SEP contributions this year, I first need to situate myself so that my only monthly obligations are:
1. Business rent
2. Personal rent (who's for me living in my office?)
3. Student loans
4. % to my billing company
5. Utilities
Which I am about 3 months away from accomplishing.
In 2005 my goals are to:
1. Determine whether expanding and incorporating are worth it (time and money vs. headache).
2. Start my financial snowball.
So far I have met with a planner. He wants me to have
a. $20K in liquid form (not there yet)
b. get personal health insurance (done)
c. get long term care insurance (done), disability (done), and life insurance (done).
d. achieve my goals from above and then start stockpiling money away.
What do you think so far?
Thanks.
I am a physical therapist. I have my own practice. First year in business, and I am schedule to make about $140K gross.
27 years old. Professional for 2.5 years now.
$10,000 in my IRA.
$10,000 cash in a ING account.
Will try to maximize my IRA and SEP contributions this year, I first need to situate myself so that my only monthly obligations are:
1. Business rent
2. Personal rent (who's for me living in my office?)
3. Student loans
4. % to my billing company
5. Utilities
Which I am about 3 months away from accomplishing.
In 2005 my goals are to:
1. Determine whether expanding and incorporating are worth it (time and money vs. headache).
2. Start my financial snowball.
So far I have met with a planner. He wants me to have
a. $20K in liquid form (not there yet)
b. get personal health insurance (done)
c. get long term care insurance (done), disability (done), and life insurance (done).
d. achieve my goals from above and then start stockpiling money away.
What do you think so far?
Thanks.