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60 MONEY MOVES THAT COULD SET YOU UP FOR LIFE HOW TO
60 MONEY MOVES THAT COULD SET YOU UP FOR LIFE PROFESSIONAL

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60 MONEY MOVES THAT COULD SET YOU UP FOR LIFE PROFESSIONAL

Stephen Dunbar is a financial professional who offers securities through Equitable Advisors, LLC (NY, NY 21), member FINRA, S.I.P.C, offers investment advisory products and services through Equitable Advisors, LLC, an S.E.C.-registered investment advisor, and offers annuity and insurance products through Equitable Network, LLC.

Many of these former professionals can feel depressed if they don’t have an emotional plan in place for retirement. If they don’t know what to do with their time once they retire, they might put it off, Dunbar says. Later career dentists who are thinking about retirement should be not only focused on their financial finish line, but the “emotional” finish line, too.If a financial professional guides you into a plan that doesn’t meet your goals, Dunbar says there is “no emotional juice” and you will not stick with it.Dunbar suggests everyone write down their short-term, mid-term and long-term goals and find someone who they trust who will help them meet those specific goals.People often don’t take the time to set up automatic withdrawals or meet with a financial planner. Procrastination is also a pitfall that Dunbar sees.This applies to people earning more than $160,200 per year in 2023. Also, Dunbar says to be aware of other ways to save money, such as saving extra cash after you’ve paid your Social Security taxes for the year.Dunbar also suggests making such deposits into retirement and savings accounts automatic and to automatically increase the amount over time.He says people need to celebrate such progress and consistency. He adds that “expectations without being anchored in habits are a recipe for frustration.” Consistent habits, such as saving a set amount of money per week and increasing it over time, assures progress towards your financial goals.Instead, Dunbar suggests a one-time purchase that you pay upfront, such as purchasing a nice watch or a dinner out and enjoying the gift to yourself without going into debt.

One of the biggest mistakes Dunbar says newer professionals make is the “kiss of debt.” After getting a job with a bigger salary, they will “reward” themselves with lavish purchases using credit cards or loans with payments that will recur for years to come.

Dunbar works with many professionals, including dentists, to help them meet their financial goals and avoid money pitfalls that can often plague people with successful careers.

60 MONEY MOVES THAT COULD SET YOU UP FOR LIFE HOW TO

Dunbar is the executive vice president of Equitable Advisors.Īs Dunbar tells us, “All financial planning is (is) putting the road map, the Google Maps, together to show me how to get from where I am today to the fulfillment of the purchase of my needs and wants in the short, mid and long term.” Dunbar III, J.D., CLU, shares tips for dentists at all stages of their careers to increase wealth and save for the future. In this episode of Dental Sound Bites, special guest and financial expert Stephen B. New year, new budgets! It's time to set your money goals for 2023. Financial guidance for today and throughout your career