The Cost of Procrastination

Some of us share a common experience. You're driving along when a police cruiser pulls up behind you with its lights flashing. You pull over, the officer gets out, and your heart drops.

“Are you aware the registration on your car has expired?”

You've experienced one of the costs of procrastination.

Procrastination can cause missed deadlines, missed opportunities, and just plain missing out."

Procrastination is avoiding a task that needs to be done—postponing until tomorrow what could be done today. Procrastinators can sabotage themselves. They often put obstacles in their own path. They may choose paths that hurt their performance.

Though Mark Twain famously quipped, “Never put off until tomorrow what you can do the day after tomorrow.” We know that procrastination can be detrimental, both in our personal and professional lives. Problems with procrastination in the business world have led to a sizable industry in books, articles, workshops, videos, and other products created to deal with the issue. There are several theories about why people procrastinate, but whatever the psychology behind it, procrastination may cost money—particularly when investments and financial decisions are put off.

As the illustration shows, putting off investing may put off potential returns.

If you have been meaning to get around to addressing some part of your financial future, maybe it's time to develop a strategy. Don't let procrastination keep you from pursuing your financial goals.

Early Bird

Let's look at the case of Cindy and Charlie, who each invest $100,000. Charlie immediately begins depositing $10,000 a year in an account that earns a 6% rate of return. Then, after 10 years, he stops making deposits.

Cindy waits 10 years before getting started. She then starts to invest $10,000 a year for 10 years into an account that also earns a 6% rate of return.

Cindy and Charlie have both invested the same $100,000. However, Charlie's balance is higher at the end of 20 years because his account has more time for the investment returns to compound. This is a hypothetical example of mathematical compounding. It’s used for comparison purposes only and is not intended to represent the past or future performance of any investment. Taxes and investment costs were not considered in this example. The results are not a guarantee of performance or specific investment advice. The rate of return on investments will vary over time, particularly for long-term investments. Investments that offer the potential for high returns also carry a high degree of risk. Actual returns will fluctuate. The type of strategies illustrated may not be suitable for everyone.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. Copyright 2022FMG Suite.

Chirag Chauhan, MBA, AIF®, CFP® is the managing partner of Bluff City Advisory Group in Memphis, Tennessee. For more info, please visit bluffcityadvisory.com.

Susan G. Murrmann, MD FACOG Chief Medical Officer/ Medical Director

McDonald Murrmann

Center for Wellness and Health

McDonald Murrmann Center for Skin and Laser

7205 Wolf River Blvd Suite 150

Germantown, TN 38138

901-752-4000 mmcwh360.com

Dr. Murrmann is the Chief Medical Officer of McDonald Murrmann Center for Wellness and Health and the Medical Director of McDonald Murrmann Center for Aesthetics and Laser. In 1996, she co-founded the all-female McDonald Murrmann Women’s Clinic with Dr. Mary McDonald believing that no one else could better understand or help deal with women’s issues better than women. In 2018 Dr. Murrmann spearheaded a change in the direction of the clinic and rebranded the clinic to better fit the needs of the patients and their overall health. The clinic and the other providers are focusing on preventative, integrative, and restorative medicine along with many added services.

McDonald Murrmann Center for Wellness and Health also includes McDonald Murrmann Center for Aesthetics and Laser to cover 360º of women’s health. Dr Murrmann, graduated from the University of Tennessee in OB/GYN, specializes in minimally invasive surgery, bio-identical hormones, and has recently completed her fellowship in Anti-aging and Functional Medicine through the American Academy of Anti-Aging Medicine.

Robin Mutz

Senior Vice President, Chief Nursing Officer

St. Jude Children’s Research Hospital

262 Danny Thomas Place

Memphis, TN 38105

901-595-3300

Stjude.org

With more than 45 years of nursing experience and nearly 30 years of management experience, Robin Mutz joined St. Jude in early 2018. Since then, she has been dedicated to creating a collaborative relationship for physicians, administrators and nurses for the benefit of patient outcomes and the promotion of research and cures. Her work has resulted in increased certification rates for St. Jude nurses. N

Ryan

Nelson

Chief Financial Officer

Saint Francis Healthcare

5959 Park Avenue

Memphis, TN 38119

901-765-1000 saintfrancishosp.com

Nelson was named Market Chief Financial Officer by Saint Francis Healthcare in July 2022. In this role, he is responsible for guiding financial operations for Saint Francis-Memphis and Saint Francis-Bartlett. Before joining Saint Francis, Nelson served as Chief Financial Officer at Woodland Heights Medical Center, a part of Community Health Systems, in Lufkin, Texas. Prior to that, he held a variety of roles at Baptist Memorial Health Care including Controller/Director of Finance and Accounting, Senior Finance Manager, and Assistant Controller. Nelson earned a bachelor’s in finance from The University of Illinois and received a master’s in Business Administration with a concentration in Finance from Baylor University. Additionally, Nelson is a graduate of Leadership Memphis, the Baptist Executive Leadership Institute through Baptist Memorial Health Care and is a member of the Health Care Financial Management Association.

Ellis Neufeld, MD, PhD Executive Vice President and Clinical Director

St. Jude Children’s Research Hospital

262 Danny Thomas Place

Memphis, TN 38105

901-595-3300

Stjude.org

Dr. Neufeld joined St. Jude in 2017 after 26 years serving on the faculty of Harvard Medical School, and as associate chief of the Division of Hematology/ Oncology at the Dana Farber/Boston Children’s Cancer and Blood Disorders Center. Neufeld was also medical director at the Boston Hemophilia Center. Since joining St. Jude, his research has focused on patient-oriented studies in non-malignant hematology. His work includes the development of gene therapy treatments for hemophilia patients. He was a key component in the development of a partnership between St. Jude and the World Federation of Hemophilia that is designed to establish and facilitate gene therapy trials for severe hemophilia B in low- and middleincome countries.

Keith Norman Vice President and Chief Government Affairs and Community Relations Officer

Baptist Memorial Health Care

350 North Humphreys Blvd.

Memphis, TN 38120

901-227-5041

Keith.norman@ bmhcc.org

As vice president/chief government affairs and community relations officer for Baptist Memorial Health Care, Norman’s primary responsibilities include establishing and maintaining relationships with government officials and strengthening Baptist’s community outreach partnerships. He is pastor of First Baptist Church-Broad, a member of the Memphis-Shelby County Crime Commission board of directors, a board trustee at Christian Brothers University and a former commissioner of the Tennessee Bureau of Ethics and Campaign Finance. Norman is the past president of Memphis’ NAACP chapter and now serves on the national board of trustees. A graduate of Morehouse College, Norman earned a doctorate degree from Memphis Theological Seminary in 2016 and published his dissertation, which outlines strategies for urban community development in Memphis, Tennessee. Norman is a member of the American College of Healthcare Executives.

Rola A. Obaji Chief Executive Officer

McDonald Murrmann Center for Wellness and Health

7205 Wolf River Blvd

Suite 150

Germantown, TN 38138

901-752-4000 mmcwh360.com

Obaji has twenty-two years of healthcare experience in the Memphis area, including previously serving as CEO of

Integrity Oncology Foundation. She was a key player in developing and implementing the vision and expansion of the McDonald Murrmann Center for Wellness and Health and now serves as CEO of the group. Obaji has served as chair of the American Cancer Society Gala for several years and started the UT/West Cancer Institute Gala in 2019. She and her husband, Dr. Suhail Obaji, an oncologist at West Cancer Center, reside in Memphis.

PBrad Parsons

Vice President and Chief Executive Officer

Baptist Memorial Hospital-Memphis

6019 Walnut Grove Road

Memphis, TN 38120 901-226-0505

Brad.parsons@bmhcc. org

Parsons is the VP/CEO of Baptist Memorial Health Care’s flagship hospital, Baptist Memorial Hospital-Memphis. Parsons previously served as administrator and CEO of NEA Baptist Memorial Hospital, NEA Baptist Clinic and Baptist Memorial Hospital-Union City. He began his career with Baptist as an assistant administrator at Baptist Memorial Hospital-Golden Triangle in 2008. Parsons holds a bachelor’s degree from Birmingham Southern College and master’s degrees in hospital administration and business administration from the University of Alabama at Birmingham.

Shailesh Patel, MD

Vice President and Chief Medical Officer

Methodist Olive Branch Hospital

4250 Bethel Road

Olive Branch, MS 38654

662-932-9000 methodisthealth.org

Dr. Patel is chief medical officer for Methodist Olive Branch Hospital, having joined Methodist Le Bonheur Healthcare in 2013 as a hospitalist. Previously he served as hospitalist and medical director for North Mississippi Medical Center in Tupelo. He received a bachelor’s degree and Doctor of Pharmacy from the University of Mississippi, as well as a Doctor of Medicine from Kansas City University.

Keith Perry Senior Vice President/ Chief Information Officer

St. Jude Children’s Research Hospital

262 Danny Thomas Place

Memphis, TN, 38105 901-595-3300

Stjude.org

After Joining St. Jude Children’s Research Hospital in 2015 as Chief Information Officer, Perry was given the task of finding the best way to support the staff of researchers and clinicians at St. Jude with technology that advances at a rapid pace. That includes making sure St. Jude acquires technology that improves the way clinicians and doctors treat and follow up with patients. It also ensures researchers have top notch technology to conduct experiments and store data derived from those experiments. Out of his work has come St. Jude Cloud, an online data-sharing and collaboration platform that provides researchers access to the world’s largest public repository of pediatric cancer genomics data. St. Jude Cloud was developed through a partnership between St. Jude and Microsoft.

Nikki S. Polis, PhD, RN Senior Vice President and Chief Nurse Executive

Methodist Le Bonheur Healthcare

1211 Union Ave., Suite 700

Memphis, TN 38104 901-478-0565 methodisthealth.org

Polis is chief nurse executive for Methodist Le Bonheur Healthcare, a role she’s held since 2012. Previously, she was system director for Main Line Health System in Pennsylvania and administrative director for MacDonald Women’s Hospital in Ohio. She received a bachelor’s degree from University of Kentucky, a master’s degree from The Ohio State University and a doctorate from Case Western Reserve University.

Amit Prasad, MD, MBA Vice President and Chief Medical Officer Methodist South Hospital

1300 Wesley Drive Memphis, TN 38116 901-516-3700 methodisthealth.org

Dr. Prasad is chief medical officer for Methodist South Hospital. He previously served as CMO for UnitedHealthcare in Jackson, Mississippi, and director of medical outcomes for North Mississippi Health Services in Tupelo. He earned a bachelor’s degree from Maulana Azad Medical College in New Delhi and a master’s degree from the University of Tennessee, Knoxville.

Jenny Bartlett-Prescott Chief Operating Officer Church

Health

1350 Concourse Ave. Memphis, TN 38104 901-272-7170 prescottj@churchhealth.org

Bartlett-Prescott is the COO at Church Health, where she has served in a variety of leadership positions since 1997. She leads all clinical service lines and health promotion programs. She has a master’s degree in epidemiology and is the leader driving quality improvement throughout the organization.

James Proctor Senior Vice President and Chief Financial Officer

Regional One Health 877 Jefferson Avenue Memphis, TN 38103 901-545-7100 regionalonehealth.org

Proctor is senior vice president and chief financial officer at Regional One Health, leading all areas of finance for the health care system including revenue cycle, accounting, strategic financial planning, internal audit, facilities operations and materials management. Proctor has more than 24 years of professional experience in health care finance. He joined Regional One Health in 2009 and served in various finance positions before being named CFO in 2021. Prior to joining Regional One Health, Proctor spent 13 years with a managed care organization. He earned his Master of Business Administration and bachelor’s in accounting from the University of

Memphis. He is a Six Sigma green belt and has worked on numerous process improvement items. Proctor serves on the THA Center for Innovative Solutions (TCIS) board.

RSylvia Richey, MD Chief Medical Officer

West Cancer Center

7945 Wolf River Blvd

Germantown, TN 38138

901-683-0055 westcancercenter.org

Dr. Richey joined West Cancer Center as a Hematology Oncology specialist in January, 2005. Originally from Birmingham, Alabama, Dr. Richey graduated from Vanderbilt University, Nashville, TN and went on to complete her medical training at the University of Alabama School of Medicine, Birmingham, Alabama. She continued her Internship and Residency training in Internal Medicine at Baptist Medical Centers, Birmingham and completed her Fellowship in Medical Oncology at the University of Tennessee, Memphis, TN. Her fellowship training was augmented with additional specialized training at MD Anderson Cancer Center’s Breast Cancer Division- Houston. Dr. Richey is Board Certified in Medical Oncology. Dr. Richey is currently the Chief Medical Officer for West Cancer Center. She has successfully led and built our Integrative Oncology program and will now begin to lead our Clinical Practice Quality initiatives as well.

Tammie Ritchey, CRFE

Senior Vice President and Chief Development Officer

Regional One Health Foundation

877 Jefferson Avenue Memphis, TN 38103

901-545-7100 regionalonehealth foundation.org

Ritchey has served as the leader of the Regional One Health Foundation since 2004. Prior to that she served as Development Director for Girls Incorporated of Memphis. Tammie is a proud native Memphian, having graduated from Ridgeway High School and Rhodes College. Tammie is a Certified Fund-Raising Executive, an internationally recognized designation for philanthropic fundraising executives. She is a member of Vistage International, the Health Management Academy, the Association of Health Care Philanthropy, and the Association of Fundraising Professionals. She is a former member of the Board of Directors for the Memphis Downtown Rotary Club, and a former President for Women of Achievement.

Consolidated Medical Practices of Memphis (CMPM) was formed in 2008 as a collection of just six small internal medicine private practice groups. Today, CMPM has grown into a large, multispecialty practice that includes nearly 40 physicians and more than 50 mid-level healthcare professionals, such as physician assistants, nurse practitioners, physical therapists, and dieticians. Our large team of multispecialty providers include primary care physicians and specialists in allergies, cardiology, endocrinology, hematology and oncology, infectious disease, obstetrics and gynecology, pediatrics, and rheumatology.

We have 23 locations in the greater Memphis area.

We strive to maintain our independence within the healthcare industry by creating an autonomous network of nationally recognized and highly trained physicians, nurse practitioners and physician assistants, and professional healthcare staff. We address the healthcare needs of those in Shelby County and the surrounding areas by providing outstanding and compassionate care.

All of our providers offer telehealth services, as well, so your patient can consult with a doctor without ever leaving the comfort and safety of their home. Our physicians also see and treat patients in their office, the hospital, as well as at assisted living facilities and nursing homes.

Charles W. M. Roberts, MD, PhD Executive Vice President Director, Comprehensive Cancer Center

St. Jude Children’s Research Hospital

262 Danny Thomas Place

Memphis, TN 38105 901-595-3300 stjude.org

Dr. Roberts is director of the Comprehensive Cancer Center and executive vice president at St. Jude Children’s Research Hospital. St. Jude is home to the first and only National Cancer Institute–designated Comprehensive Cancer Center devoted solely to children. Roberts also serves as full member in the Department of Oncology and holds the Lillian R. Cannon Comprehensive Cancer Center Director Endowed Chair. Dr. Roberts supports five major interdisciplinary research programs that are organized with the specific intent of translating basic science discoveries into curative therapies for children with cancer, while minimizing long-term side effects.

Jennie N. Robbins Chief Financial Officer Church Health

1350 Concourse Ave. Memphis, TN 38104

901-701-2121 robbinsj@churchhealth.org

Robbins serves as the Chief Financial Officer at Church Health. Prior to joining the organization in 2007, Robbins worked in the corporate banking world in Memphis. She is a Past-President of Mid-South Medical Group Management Association and is involved in many community projects and organizations including the Board of Advisors of Memphis Bio-works Foundation’s New Market Tax Credit Program, Tennessee Charitable Care Network Association, and the Junior League of Memphis.

SEric Schnapp, JD, MBA Chief Executive Officer

Mays & Schnapp

Neurospine and Pain

55 Humphreys Center Drive Suite 200

Memphis, TN 38120 901-507-1595 maysandschnapp.com

Since 2019, Schnapp has served as CEO of Mays & Schnapp Neurospine and Pain, a pain management practice providing comprehensive pain management to help relieve pain, restore function, and return patients to living their lives for over 20 years. Schnapp develops business strategies and manages company operations and growth across clinical operations, physical therapy, and an ambulatory surgery center over multiple locations. Before joining Mays & Schnapp, Schnapp served as an attorney, working as a special prosecutor in the District Attorney’s office, as well as five years as a trial attorney, specializing in medical malpractice and medical device and product liability litigation and thereafter another two years focusing on healthcare and complex commercial litigation. He holds a Juris Doctor degree from Emory University School of Law, a Master of Business Administration from Vanderbilt University’s Owen Graduate School of Management, and a Bachelor of Arts degree from Vanderbilt University itself. Schnapp is a published author and regular contributor and presenter on legal and societal topics.

David Schwartz, DO Market Chief Medical Officer

Saint Francis Hospital

5959 Park Avenue Memphis, TN 38119

901-765-1000 saintfrancishosp.com

In 2019, Dr. Schwartz assumed the role of CMO for Tenet’s Mid-South region that includes Saint Francis-Memphis, Saint Francis Hospital-Bartlett, and five Tenetoperated facilities in South Carolina. Schwartz oversees quality, patient safety, regulatory readiness, and medical staff services. Under his leadership, Saint Francis Hospital-Memphis earned the prestigious Advanced ThrombectomyCapable Stroke Center certification from The Joint Commission. Saint Francis Hospital-Memphis and Saint Francis Hospital-Bartlett have received the distinction of being Accredited Chest Pain Centers from the Society of Chest

Pain Centers, and have garnered diseasespecific certifications for hip, knee and stroke from the Joint Commission. He earned his Doctor of Osteopathic Medicine at the College of Osteopathic Medicine Residency at Tucson Medical Center.

Daniel Shumate, MBA, MHA Chief Executive Officer

Campbell Clinic

1400 South Germantown Road

Germantown TN, 38138

901-759-3100 dshumate@campbellclinic.com www.campbellclinic. com

Shumate leads Campbell Clinic, an orthopaedic surgery group founded in Memphis in 1909. Prior to being named CEO in 2021, Shumate was the clinic’s CFO and had held that role since 2010. The organization employs 86 providers and over 800 employees at 8 locations across the Mid-South along with two outpatient surgery centers.

Randy Sites

CEO, UT Regional One Physicians

Regional One Health 877 Jefferson Avenue Memphis, TN 38103 901-545-7100 regionalonehealth.org

Sites came to Memphis in 2014 to launch UT Regional One Physicians, a partnership between Regional One Health and the University of Tennessee Health Science Center. The practice includes more than 200 physicians and advanced practitioners in more than 20 specialties. Sites earned both his Bachelor of Science in Business Administration and his Master of Business Administration (MBA) from University of Alabama with concentrations in finance and health administration. Prior to joining UT Regional One Physicians, Sites spent several years as the Chief Revenue Cycle Officer at University of Mississippi Medical Center, University Physicians and has worked with several leading health systems and physician practice management firms.

Methodist University Hospital

1265 Union Ave. Memphis, TN 38104

901-516-7000 methodisthealth.org/ university

Slocum joined Methodist Le Bonheur Healthcare in 2019 as chief operating officer for Methodist University Hospital before becoming president in 2021. He previously served as vice president of Systems Support Services for Navient Health in Macon, Georgia. Slocum received a bachelor’s degree from Mercer University, and he earned two master’s degrees from the University of Alabama at Birmingham.

Bradley G. Somer, MD President

West Cancer Center

7945 Wolf River Blvd

Germantown, TN 38138

901-683-0055 westcancercenter.org

Dr. Somer joined the West team in 2002 after completing his fellowship training at the University of Pennsylvania Cancer Center. Dr. Somer also completed his internship and residency at the Hospital University of Pennsylvania in Philadelphia. He is Board Certified in Medical Oncology and has a focus on treating GI cancers. As President of West Cancer Center, Dr. Somer supports the executive team, serves as a leader in major projects, provider development, growth and expansion. He also continues to develop sub-specialization throughout the network and continued hospital support.

She became Methodist South president in 2021. Stafford received a bachelor’s degree from Dillard University in New Orleans, a master’s degree from the University of Memphis and a Doctorate of Pharmacy from Florida Agricultural & Mechanical University in Tallahassee.

Lindsay Stencel Chief Executive Officer and Administrator Baptist Memorial Hospital-Collierville

Administrator for Orthopedic Services Baptist Memorial Health Care

1500 West Poplar Ave. Collierville, TN 38017 901-861-9411

Lindsay.stencel@ bmhcc.org

Stencel was promoted to chief executive officer of Baptist Memorial HospitalCollierville in 2020. She held the title chief administrative officer for the hospital from 2016 to 2020. Stencel served as an assistant administrator from 2011 to 2016 at Baptist Memorial Hospital-Memphis, where she supervised a number of departments, including rehabilitation, food and nutrition, safety and security, pharmacy, oncology services, transportation, teleservices, facility services and construction. A trained occupational therapist, she began her career at Baptist in 2002 as the director of rehabilitation services. Stencel earned a Bachelor of Science degree in occupational therapy from the University of Louisiana-Monroe and a Master of Business Administration from Union University.

Scott Strome, MD, FACS

Robert Kaplan Executive Dean, College of Medicine, and Vice Chancellor for Health Affairs

Otorhinolaryngology for 13 years. He has expertise in the treatment of head and neck tumors, thyroid cancer, and diseases of the anterior skull base. Dr. Strome is the co-founder of Gliknik Inc., a biotechnology company developing novel therapeutics to treat cancer and autoimmunity. His scientific achievements have resulted in 125 publications in leading basic science and clinical journals. He is passionate about reducing the cost of medical education, growing the research portfolio of the College of Medicine, and expanding its entrepreneurial opportunities.

Mark Swanson, MD Vice President Baptist Memorial Health Care Chief Executive Officer

Baptist Medical Group

350 North Humphreys Blvd.

Memphis, TN 38120 901-227-4056

Mark.swanson@ bmhcc.org

Dr. Swanson is CEO of Baptist Medical Group, Baptist’s 850-member multispecialty medical group. He accepted the role after serving as interim CEO for BMG and chief medical officer for Baptist in 2016. Dr. Swanson came to Baptist in March 2014 as chief quality officer. After earning a Bachelor of Science degree from Old Dominion University in Norfolk, Virginia, Dr. Swanson earned a medical degree from Eastern Virginia Medical School in Norfolk, Virginia. He received his pediatric residency training at the U.S. Naval Hospital in Portsmouth, Virginia, and accepted a fellowship in pediatric critical care and anesthesia at the Children’s Hospital at the Harvard Medical School in Boston. He also earned a Master of Science degree in health care management from the Harvard School of Public Health.

Methodist South Hospital

1300 Wesley Dr. Memphis, TN 38116

901-516-3700 methodisthealth.org/ south

Stafford began her career with Methodist Le Bonheur Healthcare in 2008 as lead pharmacist for Methodist University Hospital. She was soon named pharmacy director for Methodist Olive Branch Hospital and later served as vice president of Support and Professional Services for Methodist South Hospital.

University of Tennessee Health Science Center 910 Madison, Suite 1002

Memphis, TN 38163

901-448-5293 sstrome@uthsc.edu

Dr. Strome, a cancer surgeon, researcher, entrepreneur, and Executive Dean of the UTHSC College of Medicine, joined UTHSC in 2018, coming from the University of Maryland School of Medicine, where he served as professor and chair of the Department of

TShannon Tacker Chief Executive Officer University

Clinical Health

1407 Union Avenue Ste 700 Memphis, TN 38104 901-866-8864 universityclinichealth. com