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Dr. D. Marcinko MBA [Publisher-in-Chief]
Dr. David E. Marcinko MBA CMP™ is founding CEO of iMBA Inc, a leading national scope provider of medical practice management reports, books, dictionaries, white-papers, financial planning and advisory opinions, FMV appraisals and educational seminars. The firm serves physicians, nurses and medical societies; RIAs, BDs, wealth and hedge fund managers; accountants, insurance agents and financial services providers; emerging healthcare entities, hospitals, clinics and IPAs; the press and related e-media. iMBA Inc also offers an experienced yet innovative consulting approach that evaluates opportunities to redesign healthcare processes and provide solutions that can be put into action to affect organizational change. Previously, Dr. Marcinko was a financial analyst, professor of healthcare administration and economics, and co-founder of an Ambulatory Surgery Center sold to a public company. Today, as ME-P Publishing Editor, he is a popular futurist, speaker, virtual consultant, thought leader and best selling author integrating medical economics, finance and modern transformational healthcare 2.0 business strategies [Phone: 1-770.448.0769].
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About iMBA Inc’s Next-Gen Advisors
The "Medical Executive-Post" is about connecting doctors, health care executives and modern consulting advisors. It’s about career, business, IT, practice, policy, personal financial planning and wealth building. We have an attitude that's fiercely independent, outspoken, intelligent and so Next-Gen; often edgy, usually controversial. And, our new wave editors "got fly", just like U. Read it! Write it! Post it! "Medical Executive-Post"
Health Dictionary Series
Three-volume paperback set of more than 30,000 health administration definitions, terms, modern abbreviations and non-clinical acronyms.
Hospitals & Healthcare Organizations
This book addresses the ubiquitous struggle of healthcare organizations and hospitals with decreasing revenues, increasing costs, and high consumer expectations in a competitive market.
Cost-effective Healthcare, Coding/Billing Training Programs Through Webinars & Audio Conferences
Certified Medical Planner™
Online health economics and medical management education for financial advisors and business consultants.
Corporate Health by EliteHealth
Experience medical care by a team of highly qualified board-certified physicians who manage to provide traditional care while leveraging the latest technological advancements.
Telephonic or electronic advice for physicians that is objective, affordable, focused and personalized. Rendered by a prescreened financial consultant or management advisor and offered on a pay-as-you-go basis, by phone, fax or e-mail.
e-Podiatry Consent Forms™
Innovative software programs that solve informed consent problems and enhance the education, discussion and documentation of the IC process for physicians performing foot and ankle surgery.
Podiatry Boards Preparation
The leading e-publisher of podiatric educational software. Producing the most effective and innovative methods of preparing for all board and licensing exams since 1992.
Sharkey, Howes & Javer
You deserve to live the life you want and we can help create it. Our business is about you, understanding your unique financial goals and planning your path to financial success.
Joshua Goldman MD MBA
A resident physician at UCLA pursuing post-graduate training in Family Medicine who attended graduate school at USC, completed his MD at the Keck School of Medicine concurrent with an MBA at the Marshall School of Business.
Leila M. Hover; MLS, DMH
Dr. Hover is a member of the IRB of Atlantic Health System in New Jersey and the Bioethics Committee of Overlook Hospital in Summit, New Jersey. She is also a principal for Information Developers, a literature research and document retrieval organization.
Neil H. Baum MD
A urologist who speaks to hospitals, pharmaceutical and medical manufacturing companies on improving communications between physicians and patients, practice management, marketing, promotion and motivation.
Peter Benedek PhD CFA
My mission is to create an independent network for retirement finance education and advocacy.
Richard A. Berning; MD
PrivatePractice.MD is a common venue for medical providers to share their insights and tips about how to best manage their private practice and their non-clinical professional lives.
Robert Cimasi; MHA CMP™
Health Capital Consultants LLC specializes in valuation, merger & acquisition, litigation support & expert testimony, financial analysis, & industry research services for the healthcare industry.
Shahid N. Shah; MS
An internationally recognized HIT thought-leader across the Internet, and consultant to various federal agencies on technology matters and winner of Federal Computer Week’s coveted “Fed 100″ Award, in 2009.
Somnath Basu; PhD, MBA
Dr. Basu is a Professor of Finance at California Lutheran University and the Director of its California Institute of Finance.
Do you want to give your children the best possible chance to do well in college, earn higher salaries, and save more for their retirement? Then, don’t pay for their college education.
One of the most popular money scripts I encounter is the notion that being a good parent means paying for your child’s college. Many parents do this at the expense of taking care of themselves in retirement, which is a very high price to pay.
The most popular reason I hear from clients for funding children’s’ education is empowerment. They want to spare kids the burden of repaying school loans after graduation. They also want them to be able to focus on their studies without the distraction of having to work to put themselves through college. For most parents, allowing students to concentrate on classes so they can perform well, make better grades, and obtain better jobs, is a sacrifice worth making.
There’s just one problem with this scenario. It’s a myth.
In most cases, parents who fund their kid’s’ college education are insuring they will actually do worse in school than those who have to pay their own way. This is the finding of new research conducted by Laura T. Hamilton, published January 7, 2012, by The American Sociological Review under the title “More Is More or More Is Less?” Her study shows that students whose education is funded by parents or through student loans actually have lower GPA’s than students who in some way must work to put themselves through school.
Hamilton found that students who have to “do something” requiring them to take personal responsibility for obtaining the funds for their education do best and carry higher GPA’s. This includes those who receive grants, scholarships, or veteran’s benefits, or who participate in work-study programs.
Parental funds or borrowing “provide the time, money, and proximity (i.e., living on or near campus) necessary to delve deeply into college peer cultures,” Hamilton notes. The gift of time that student loans and parental funding provide isn’t usually poured into studies. Instead, students tend to focus that extra time on increasing their social life. The average college student receiving money from loans or parents spends less time on studies in college than in high school. Even though they spend about 28 hours a week attending class and studying, the research found they devote a full 41 hours a week to social and recreational endeavors.
Put more succinctly, students who have to work to pay their way through college spend slightly more time studying and significantly less time partying.
The net result in this is a big personal and societal lose-lose. Those of you who have sacrificed your retirement to help your children through college have potentially done harm to both your children and yourselves. Your kids have probably done worse in college, thus obtaining lower paying jobs. This loss of potential income has downsides for both children and parents. Previous research has shown that parents who don’t fully fund their own retirement years will actually end up costing their children five times as much as the kids would have spent by funding their own college education.
Understandably, a few of you are now choking on your last sip of coffee as you read the last paragraph. This is not at all the outcome you intended.
The evidence is clear. Parents who take care of fully funding their own retirement instead of sacrificing to pay for their kids’ education are not being selfish. Instead, they give their children something far more valuable than the cost of tuition: the gift of success and achievement.
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Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com
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