Tax Day will be here before we know it! Today's discussion revolves around a topic that promises to ease your future burdens: organizing your 2023 tax-related documents and beyond.
Mastering the Minimum Effective Financial Dosage for Doctors
Welcome back to More Money Minutes for Doctors. Today we delve into a crucial topic: determining the minimum effective financial dosage for doctors to achieve lasting financial security.
In the realm of financial advice, countless articles offer tips for enhancing your finances. However, just as doctors prescribe the minimum effective dose for patients, should there not be a similar approach for doctors managing their finances? Let’s explore this concept.
A Doctor's Guide to Avoiding Four Crucial Financial Pitfalls
Managing personal finances can often take a back seat to a doctor’s demanding schedules. However, overlooking key financial decisions in the early stages of a medical career can lead to long-term setbacks. Today we’re discussing common financial mistakes made by young doctors and offer strategies to avoid them.
1099 Tax Shelters for Doctors
It is crucial for doctors to understand the differences in retirement accounts if they want to maximize their wealth. Two popular choices, the Sep IRA and the Solo 401K, present distinctive benefits, limitations, and considerations. Here, we break down the key elements of each, shedding light on their respective advantages and limitations.
4 Numbers Every Doctors Needs to Know
TD Ameritrade to Schwab Transition
Student Loan Update: July 2023
Other Student Loan Forgiveness
In this video, Josh is talking about an alternative to the popular Public Service Loan Forgiveness (PSLF) program known as state-sponsored forgiveness.
These state programs offer various levels of student loan forgiveness and are designed to assist physicians and dentists in managing their educational debt. We've compiled a comprehensive resource consolidating information on these programs, making it easier for healthcare professionals to explore their options.
2 Minute Tax Tips: Employing Your Children
Student Loan Update: December 2022
Midterms and Markets for Doctors
Doctors, Here are 10 Questions to Ask Your Prospective Financial Advisor
Student Loan Update: August 2022
EE Bonds and I Bonds for Doctors
We’ve recently touched on down markets, inflation, and how to protect yourself from their effects. While we typically say down markets are a great time to invest in the stock market, we also want to share options on more conservative/stable investment options when the market is anything but. Government bonds are a low-risk way to invest with a consistent, guaranteed interest rate.
How-to for Doctors: Teaching Your Children About Money
In the famous words of Alice Cooper, “school’s out for summer”! Yes, summer vacation is here, and the question is: how are you going to keep your kids from bouncing off the walls for the next three months? This could be the perfect time to teach your kids about money, and the importance of saving. Whether they’re 4 or 16, there’s never a bad time to teach them about the fundamentals of money and savings goals.
How do we, as parents, help our children out financially? Of course we can start trusts, 529 plans, or brokerage accounts which helps their financial futures, but what will really impact their future is learning healthy financial habits.
It may seem difficult to get this concept across to a child, but the root principle is one they are already learning. All actions and decisions we make have consequences. Spending now might mean you won’t have the freedom to spend in the future.
2022 Proposed Tax Changes that Will Impact Doctors
We can finally let out a sigh of relief as we put tax season 2021 behind us! This means we have plenty of time to prepare for the 2022 tax season, and educate ourselves on the proposed tax changes.
As we do every year, we are watching for any changes in federal and state tax law that will affect our doctors in the next year, and impact their retirement.
Market Downturns for Doctors
How will the state of our current geopolitical events impact your investments? It is nearly impossible to avoid the news and the speculation of what will come. While so much is uncertain, one thing we can prepare for is that our economy will most likely feel the effects of global unrest in the for of a market downturn.
Today, we’ll cover how we prepare, how we can take advantage of a down market, and share some statistics that might help you get to sleep at night.