In this episode of A Good Problem to Have, I sit down again with my friend and fellow planner, Ronnie Colvin, to walk through one of the most common (and most confusing) topics physicians ask us about: life insurance.

We break it down into the three questions you actually need to answer:

Do you need life insurance? - we talk through who is financially impacted if you weren’t here, how debt and co-signers factor in, and why the answer looks different for a single resident versus a married attending with kids.

If you do need it, what kind? - we cover why term life insurance is the right starting point for nearly everyone, where permanent insurance can serve a specific purpose later on, and why you should be cautious of anyone pushing complex policies early in your career.

How much coverage do you need? - the rules of thumb you’ll find online are all over the place. We walk through how we actually calculate this using real client examples, from income replacement to childcare costs to Social Security survivor benefits.

Other takeaways you’ll hear:

• • Why getting insurance while you’re young and healthy can save you a huge amount over your lifetime
  • How a health change can make you uninsurable or dramatically increase your premiums
  • The problem with “term to age 80” and other policies that look cheap up front

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In this episode, I address a common question I receive from prospective clients: "What is the value of working with a financial planner?"

It's a valid concern, especially when considering the investment of both time and money involved. That's why I focus on how effective financial planning can significantly enhance your life in these three critical areas.

• Time: how effective financial planning can save you countless hours of analysis and decision-making

• Taxes: the importance of strategic tax planning and how it can lead to substantial savings over your career

• Protection: various ways to protect your assets, including the right insurance coverage and account types that can safeguard your financial future

In this episode, I’m joined by Matt Graham, founder of MBSLive.net and writer for Mortgage News Daily, to unpack what’s driving interest rates today.We discuss:

• Why the Fed doesn’t directly control mortgage rates
• The relationship between Treasuries, inflation, and mortgage-backed securities
• What the “spread” between mortgage rates and the 10-year Treasury really means

• Whether the new 50-year mortgage is a smart idea (or a costly mistake)