Collins Wealth Management LLC

08/14/2026

New Job, great!
So, what happens to your old 401(k) or 403(b) retirement plans, and how do you manage them? The good news is that you have options.

Employers offer employer-sponsored 401(k) and 403(b) plans to help employees save for retirement. The benefit of these employer-sponsored plans is that the money grows tax-deferred. You will not pay taxes on the funds until you withdraw the funds for retirement. So, what happens to your 401(k) or 40...

08/14/2026

Transitioning from residency to practice is more than a financial upgrade; it's a pivotal life moment. How you manage your money in these first few years can set your career trajectory. With thoughtful planning and proper financial guidance, you can achieve financial independence.

After years of rigorous training, long nights, and modest paychecks, physicians completing residency finally leap into full-time practice. With this transition often comes a dramatic jump in income, one of the largest a professional will experience in a lifetime.But with great income comes great res...

08/14/2026

Choosing a financial advisor is one of the most important financial decisions you’ll make—but the terminology can be confusing. Two of the most commonly misunderstood terms are fee-only and fee-based. With this blog, I explain fee-only vs. fee-based advisors, how each is compensated, and what questions to ask to protect your financial goals.

Choosing a financial advisor is one of the most important financial decisions you’ll make—but the terminology can be confusing. Two of the most commonly misunderstood terms are fee-only and fee-based.At first glance, they sound nearly identical. In reality, they represent very different compensa...

08/14/2026

https://www.buildwithcwm.com/post/retirement-planning-for-high-income-professionals-with-limited-employer-plans

High-income professionals often assume that earning more automatically leads to retirement readiness. In reality, many physicians, attorneys, consultants, executives, and small-business professionals face a unique challenge: high income paired with limited employer-sponsored retirement benefits.Some...

08/24/2023

Compound Interest is a powerful tool for saving money. Understanding what compound interest is and how it works is priceless.

You may have heard the phrase, "Let your money work for you," and have asked yourself what that means. The simple answer is investing your money that brings returns. Compound interest has the same concept but operates differently than investing and returns only. Compound interest is the foundation f...

05/25/2023

Always remember, in most cases, wealth is built over time and not overnight. Building wealth takes discipline and can be achievable with correct planning.

For most people, steady, ongoing work is the foundation of their wealth. Career success and a good salary, or building and growing your own business, is the means to a lifestyle you enjoy now and the promise of a stable financial future. For others, an inheritance, a windfall from an investment or e...

05/05/2023

Summer will officially be here soon, but before kids get out of school and all the vacation planning you did begins to come to fruition, it can be a good idea to take stock of your financial picture and make updates where necessary.

Summer will officially be here soon, but before kids get out of school and all the vacation planning you did begins to come to fruition, it can be a good idea to take stock of your financial picture and make updates where necessary. Below are a few things you should consider to keep your plan in sha...

03/14/2023

Asking questions about your decisions is a part of life. The main question you need to ask yourself is. Are you asking yourself the right questions?

As naturally social creatures, relationships are essential to our everyday lives. Relationships can help us advance through our careers; they can be the source of fond memories and even help us live longer. (1) But one relationship impacts all other aspects of life and must be nurtured and revisited...

01/24/2023

Happy New Year!!

12/15/2022

The Ferrari versus Lamborghini debate. Both vehicles are built for one reason: performance and speed, but they are different in design and approach. Owners of these cars usually have a reason why they choose one over the other.

Money market accounts versus Money market funds have the same concept. Both are tools to help save money but are different in design and approach. Knowing the difference between each is essential in making your decision.

Many options and different account types are used for individuals to save money. The goal of saving money is to increase funds while receiving a decent annual percentage yield (APY) on regular savings and dividend or capital gain payments on invested funds. Most importantly, your short-term or long-...