Dental Digest Podcast with Dr. Melissa Seibert

192. Tess Zigo, CFP, CPA - Are you Making These Financial Mistakes?

Sep 26, 2023

Tess Zigo, financial professional, discusses financing options, student loan mistakes, understanding investments, term vs full life insurance, cultural differences in retirement saving, backdoor Roth IRAs, tax diversification, and flow-through income in this episode.

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Introduction

00:00 • 2min

Exploring Financing Options for Dentists and Discussing Common Money Mistakes

02:22 • 3min

Refinancing Student Loans and Financial Mistakes

05:08 • 20min

Importance of Understanding Investments and Avoiding Financial Scams

25:09 • 6min

Term vs Full Life Insurance: Making the Right Choice

30:51 • 4min

Cultural Differences in Retirement Saving

35:05 • 13min

Backdoor Roth IRAs and Tax Diversification

48:11 • 16min

Understanding Flow-through Income and Contacting the Guest

01:04:16 • 1min

Meet Tess Zigo, CFP, CPA

https://www.oneplacecapital.com/

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I obtained my B.S. in Finance from Northern Illinois University, and later returned to get my M.A.S in Accounting Science and my CPA after the company I worked for filed for bankruptcy during the 2008 recession. That experience taugh me a valuable lesson in being aware of concentration risk since our 401(k) match was in company stock. I started investing on my own at 20 and it’s been one of the most rewarding and empowering areas in my life- seeing the results of compound interest in over a decade gives you a great level of confidence and financial flexibility to pursue your passions in life. I spent almost a decade in corporate finance and decided to become a Financial Advisor to help others who want financial independence and individualized guidance when it comes to their money. I obtained my CFP® designation in 2018 and actively study all topics related to personal finance that affect not only my clients but also my family’s finances. I'm a self proclaimed money nerd! In my spare time you can find me at the beach, with my kids and husband living my best life. I also love to drink coffee (it’s a habit I developed in college cramming for my exams), cooking (I love experimenting with recipes and ethnic food-currently on an Indian curry binge), listening to podcasts (mostly personal development or personal finance related) and traveling with my family. My dad is a retired surgeon and my mom is a retired teacher/musician and Daycare center owner. I attribute this fact to my ability to be both a logical thinker and a creative-I believe Financial Planning is part Art, part Science and luckily I got a little of both genes. I grew up in Bulgaria in Eastern Europe- we didn’t have a lot of money growing up, however we did openly discussion our family's finances at the dinner table-so I never shy away from money conversations. I lived in Botswana Africa where my parents started a daycare business-I was very involved with helping them grow the business-and those formative experiences influenced me to want to be a business owner. I immigrated to the US in 2002 in pursuit of the “American dream” and truly believe our country has more opportunities for those seeking to risk it all in the pursuit of a Truly Wealthy Life. So whether you’re feeling stuck in your career or already found your dream career/business but just unsure how to manage your money, let’s talk!