Duff Torney
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By Michael Torney, CFP, J.D., LL.M. Most entrepreneurs have a single focus – working to make their business successful until it is generating steady profits. To achieve that goal, they often invest 100 percent of their…
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By Wesley Sebacher, CFP® Equity compensation comes in many forms, whether it is restricted stock grants, incentive stock options, stock appreciation rights, etc. Incorporated in the compensation are specific terms as to how each form of…
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By Michael Torney, CFP®, J.D., LL.M. Nearly everyone spends decades contributing money to a 401(k), Individual Retirement Account or other retirement plans that defer a portion of their income tax bill. These plans and accounts enable…
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By Michael Torney, CFP, J.D., LL.M. For individuals or couples earning a high income this year, it’s important to determine not only how to allocate your earnings to maximize investments, but also to reduce taxes.…
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By Michael Torney, CFP, J.D., LL.M. Business owners considering selling their companies usually have a few options – such as selling to a local competitor, family member(s), a large chain, or a private equity firm. But…
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By Wesley Sebacher, CFP® Many individuals and families are enrolled in a High-Deductible Health Plan (HDHP). These plans offer a unique feature called a Health Savings Account (HSA), which allows a person to set aside…
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By Michael Torney, CFP, J.D., LL.M. As physicians finish residency and start their life in practice, planning for long-term financial success should become a top priority. For most physicians, this is the point where they command…
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by Michael Torney, CFP®, J.D., LL.M. As a physician just starting your practice or switching jobs, you have a lot of financial considerations to consider. One of the most important to-dos is signing a contract…
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By Wesley Sebacher, CFP® Completing residency is a significant milestone for physicians. After years of hard work and dedication, you’re finally ready to embark on your medical career. However, as you transition from a resident…
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By Michael Torney, CFP, J.D., LL.M. Stock appreciation rights (SARs) are a type of equity compensation award. They give an executive the right to compensation based on the difference between the company’s stock price on a…
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By Wesley Sebacher, CFP® For many professionals, compensation becomes increasingly more sophisticated. And without the proper planning, it’s easy for anyone to misunderstand the tax implications and what actions to take with their equity compensation.…
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By Michael Torney, CFP, J.D., LL.M. Key executives at privately-owned or public companies may receive shares of stock in their employer. Sometimes the shares of stock are synthetic stock, otherwise known as “phantom stock”. This kind…
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By Michael Torney, CFP, J.D., LL.M. Paying taxes when receiving stock grants instead of waiting for shares to vest could help you save thousands of dollars. Corporate executives often receive restricted stock or stock options as…
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By Michael Torney, CFP, J.D., LL.M. Incentive Stock Options (ISOs) are the right to buy shares of company stock at a fixed price; this price must not be lower than the actual fair market value of…
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By Michael Torney, CFP, J.D., LL.M. Successful executives often receive various forms of compensation in addition to their salaries and bonuses. Their employers will often provide stock awards or the opportunity to participate in various long-term…
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By Michael Torney, CFP, J.D., LL.M. Restricted Stock Units (RSUs) and Restricted Stock Awards (RSAs) can be valuable parts of an executive’s overall compensation package and wealth building strategy. Both are eventually grants of company stock…
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By Wesley Sebacher CFP® You may wonder how you will provide yourself a paycheck in retirement? Or how you will coordinate your savings and future retirement income. Often forgotten, is how your retirement savings and…
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By Michael Torney, CFP®, J.D., LL.M. Lawsuits loom as an ever-present fear for physicians. According to the American Medical Association (AMA), more than one-third of physicians report being sued for malpractice. A similar study found that…
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Michael Torney, CFP, J.D., LL.M. John D. Rockefeller once said, “I always tried to turn every disaster into an opportunity.” With the stock market down by double digits in 2022, investors have such an opportunity…
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By Michael Torney, CFP, J.D., LL.M. Many of my clients donate money to their favorite charities. I understand their passion. My wife and I are avid, long-time supporters of The Muny – St. Louis’ outdoor theater…
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By Michael Torney, CFP, J.D., LL.M. Medical doctors, especially those starting out, can face unique financial challenges. They’ve often spent years studying for exams and working long hours in residency while watching their former college…
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By Michael Torney, CFP, J.D., LL.M. Medical doctors working in a private practice may one day get the opportunity to become an owner of the business. When this offer is made, a physician needs answers to…
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By Michael Torney, CFP, J.D., LL.M. As someone approaches retirement, sells a business or inherits money, they need to develop a new skill: staying wealthy. Just as you had a goal to build your wealth, now…
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By Michael Torney, CFP, J.D., LL.M. It’s an unusual time for people approaching retirement. While everyone wants to know if they are financially ready to retire, rising inflation and a slumping stock market may be fueling…