Blog
Demystifying the US Tax System
Essential for physicians is a basic understanding of the US tax system. After all, it’s not how much you make but how much you keep. Today, let’s learn the fundamentals of income tax and capital gains tax in the United States.
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Smart(est) Ways to Make Charitable Gifts
Savvy givers often use two charitable tools that can offer significant tax benefits - donor-advised funds and qualified charitable distributions.
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Can saving too much be bad? Yes.
Contributing too much too early into your 401(k) or 403(b) could mean missing employer matching contributions.
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Want to be happier?
Want to be happier? Change your financial decisions. Research has shown that there is a direct correlation between money and happiness. However, the relationship is not as straightforward as it may seem...
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Residents Without Retirement
If you’re a resident without access to an employer retirement plan, that doesn’t mean you’re out of luck. You can still open and add money to an individual retirement account (IRA) or Roth IRA.
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Student Loan Forgiveness and Payment Extension
What we know and don’t know about the plan President Biden rolled out on Aug. 24th.
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$111,000 More Social Security
With over 2,700 rules and 567 separate filing strategies, 96% of people fail to make the optimal Social Security decision and miss out on $111,000 of benefits for the average household. $111,000. That’s a lot of money...
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A Budget for Doctors
Budgets don’t need to be complicated. You only need to know 4 numbers.
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5 Reasons Why Physicians Need a Financial Plan
A financial plan is essential for doctors and their families. But don’t take our word for it. Read what others have to say!
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Your Life has 3 Planning Scenarios
You’ll either have a long life, health problems along the way, or a short life. That’s it. Plan for those three situations whether you’re single, married, with or without kids and most of your planning is done.
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7 Ways to Improve Investment Performance
Too often, physicians focus on reducing expenses as the only means of improving investment performance. Yes, low expenses are important, but they account for less than 1/3 of the added performance you could have.
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Backdoor Roth IRA
One of the most powerful investment strategies for physicians is the Roth IRA. However, you lose the ability to make Roth IRA contributions with higher income. Solve that problem with the backdoor Roth IRA.
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6 Ways to Meet Your Retirement Goals
Saving for retirement is a long game; it’s a marathon. You could compare it to the fable The Tortoise and the Hare. A sprint won’t get you to your destination. Slow and steady progress will. Unfortunately, 75% of Americans...
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Will Tax Law Changes Increase Your Taxes?
Physicians may be paying more taxes in 2022 if the proposed "American Families Plan" is voted into law.
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What is it about September?
September has historically been the worst month for stocks, according to St. Louis Federal Reserve data. What is it about this month?
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