Written by Reed Tinsley |
September 5, 2006
Here are a few tips of what you can do with that “extra cash” you might have in the bank or receive in the future:
1. Invest in your 401k retirement account up to full extent of employer’s matching contributions.
2. Pay off debts, beginning with those with the highest interest rates.
3. For higher education costs, invest in a state section 529 college savings plan.
4. Invest up to the maximum in either a Roth IRA or a deductibe IRA.
5. For further retirement savings, consider an annuity.
About the Author
Reed Tinsley CPA
This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on
accounting & tax,
practice management, and
financial planning.
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