One very lucrative way to sequence your distributions in retirement is to take money first from taxable savings and brokerage accounts; leaving the money in your retirement accounts to continue growing tax deferred or tax free (Roth). This is beneficial because taking money from taxable accounts requires you to pay taxes on the gains. The … Read more
(Today’s guest post comes to us from a physician reader who conquered her debt quickly. She writes under the pen name Jbrawley. I hope her story encourages you on your journey to become debt free.) Graduate student debt has become such a common topic of conversation it’s something we almost take for granted. Particularly when … Read more
(Don’t miss my lectures today at the WCI Physician Wellness and Financial Literacy Conference. Get your tickets today for this awesome CME event going on right now.) Retirement is often thought of when we think about financial independence. The FIRE (Financial Independence/Retire Early) movement definitely ties the two together. But financial independence is so much … Read more
(Don’t forget to get your tickets to WCICON21 so you don’t miss my two lectures or the dozens of other great lectures. CME included.) There are many types of insurances that are important to own. Life insurance to protect the people who depend on your income if you were to die. Disability insurance to protect your livelihood … Read more
(Don’t forget to get your tickets to WCICON21 so you don’t miss my two lectures or the dozens of other great lectures. CME included.) Many couples have an unequal income production. Either one of them is a stay at home parent, and earns no income, or the income production is very lopsided. An example of … Read more
Many people have written me asking: “What is the difference between a tax deduction and a tax credit?” They are confused about this issue. There is also an important distinction based on the source of the tax deduction, as in your home mortgage interest vs. your rental property mortgage interest deductions which are treated differently. … Read more
This month marks four years since I turned in my beeper and walked out of the hospital to the song 18 wheels and a dozen roses, by Kathy Mattea. It was a bit scary to give up surgery at age 54, hoping we had enough money saved to meet our needs for the rest of … Read more
I recently read a post where the writer stated something to the effect that no one was teaching financial information to doctors until just recently. That statement is absolutely not true. The real issues were most doctors were not seeking this information until just recently and those doctors who were looking thought the information had … Read more
Over the last 32 years I have been following the literature concerning money, investing and debt. In the last few years I started writing about the topic as well as sharing my knowledge with other physicians through one-on-one financial coaching. Through the years I have seen many people make the same mistakes when projecting financial … Read more
(Are you still kicking around the idea of one-on-one High Performance Coaching with me this winter? If so, better get off the fence, as time is almost out, the spots are almost gone.) Many people have asked what books I have read recently. Since I have been keeping track of the books I read for … Read more
