Katherine has helped hundreds of doctors to improve their financial situations over the years. Over the course of her career, she has discovered that woman doctors need some extra help with their financial future, due to 5 big money mistakes they are making, influenced by fear.
As we all get into the tax season, the differences in the federal income tax brackets comes to mind. The new tax reforms have lowered most individual tax brackets from 2017, so we have made a few simple charts to help you compare the differences.
William Roth created the Roth IRA in 1997 as a tax-free retirement investment. This investment will grow tax-free and can’t be taken out until you have reached 59 1/2 years of age. There are no RMDs (Required Minimum Distribution), so you can wait and let that money keep growing, even after you reach the minimum age to start taking money out. If you do this, you can keep making contributions up until 70 1/2 years old.