Educating Heirs on Student Debt
One of my favorite television shows is Shark Tank, which shows aspiring entrepreneurs pitching their business plans to seasoned investors, the “sharks,” in hopes of an investment. The sharks use their own money to invest, so they ask tough questions to help evaluate the business’s potential. Have they demonstrated sales? How much does it cost […]
Should Business Owners Raise Their Salary to Earn More Social Security?
Key Takeaways: Lower taxes are better, right? We spend a great deal of time planning around the tax code to help people accomplish their goals in the most tax-efficient manner. However, lowering taxes today often has consequences down the road. Sometimes there is a clear mathematical break-even, and other times a complex web of behavioral […]
Should Business Owners Raise Their Salary to Earn More Social Security?
Key Takeaways: Pass-through entity owners can choose to take profits as wages or distributions Increasing owner salary raises payroll tax liability but also increases future Social Security benefits Older owners and owners with non-working spouses and/or incomplete earnings records stand to benefit the most from increasing their salaries Lower taxes are better, […]
Beyond the Luxury Car: Avoiding the Costliest Financial Mistakes in Medicine
Physicians spend years mastering medicine, but many receive little formal education on personal finance. As a result, some of the most common physician financial mistakes occur during major career transitions from becoming an attending physician to preparing for retirement. The good news is that most of these mistakes are predictable and avoidable with thoughtful planning. […]
Ballast Announces Two New Additions to the Team
Since our founding, our vision has remained steadfast: build a team that we would want to advise our own families. As we continue to grow, we’re excited to welcome two talented individuals to the team who bring unique experiences, fresh perspectives, and a shared commitment to serving our clients well. Jake Nahra, Intern Jake […]
Upcoming Mega-IPOs: SpaceX, Anthropic, and OpenAI – Index Inclusion and Investor Implications
Upcoming Mega-IPOs: SpaceX, Anthropic, and OpenAI – Index Inclusion and Investor Implications SpaceX had its IPO last week. Anthropic (maker of Claude) has filed for as early as October, and OpenAI (maker of ChatGPT) is preparing a filing targeting Q4 2026. These companies carry enormous valuations. SpaceX is already valued at approximately $2.2 trillion […]
Physicians, Treat Yourself Like a Professional Athlete
Medical professionals, particularly surgeons, should think about their careers much like professional athletes think about theirs. Both operate in environments where performance matters, the margin for error is thin, and the demands on the body and mind are relentless. A professional athlete understands that their earning years are finite and that one injury, one loss […]
May the 4th Be With You
I’ve been serving families at Ballast for over a decade, but this is the first time it’s my turn to write an update on May 4th. If you are high on the nerdiness scale like me, you will know that today is the unofficial holiday to celebrate the Star Wars universe, a play on “may […]
Ballast’s Trent Lakes Obtains CERTIFIED FINANCIAL PLANNER® Certification
Ballast is proud to announce that Trent Lakes, Investments and Planning Strategist, has officially earned his CERTIFIED FINANCIAL PLANNER® certification, one of the most rigorous and respected credentials in the financial services industry. The CFP® designation requires meeting what the CFP Board calls the “Four E’s:” Education, Exam, Experience, and Ethics. Before a candidate […]
Beyond the 401k: Savings Opportunities You Might Not Have Considered
401(k) plans are valuable tools for employees at all income levels, but physicians often face limits on how much they can contribute, relative to their earnings. As a result, many doctors need additional strategies to build sufficient retirement savings and maintain their lifestyle after their work career. These strategies generally fall into two categories: tax […]
Investing at Stock Market All-Time Highs: What to Do When the S&P 500 and Dow Hit Records
As the S&P 500 approaches 7,000 and the Dow Jones nears 50,000 in early 2026, many investors are wondering: Is now the time to sell? Stock market all-time highs often trigger anxiety, but historical data reveals a surprising truth about investing during record-breaking periods. This article explains why market peaks are a normal part of […]
2026 Retirement Contribution Limits
Happy New Year! There have been a few changes to retirement contribution limits for 2026. 401(k) Contribution Limits for 2026 For 2026, the 401(k) contribution limit has increased to $24,500, up from $23,000 in 2025. This increase allows employees to boost their tax-advantaged retirement savings and accelerate long-term wealth building. IRA Contribution Limits for 2026 […]