Many people want to do more traveling when they retire. In fact, travel is one of the main reasons stated for wanting to retire. Unfortunately, most people are not sure how travel will affect their retirement budget. Knowing this number is a key variable in calculating when you have enough saved to retire in the … Read more
I recently was part of a conversation on social media in which the following question was posed: Watching the past couple days of red in the S&P 500 is a little scary, and I am wondering what percent of people have sold vs. staying the course? Of course, many people chimed in with their comments, … Read more
So, you have settled into your first job as an attending physician. This is an exciting time with many big changes. You likely moved to a new city, had a significant pay increase along with a huge jump in responsibility. Now is the time to decide how to repay your student loans. Whenever you have … Read more
It is not often I pick up a book and realize that someone has already written the book I was thinking of writing, but today it happened to me. When I published my book The Doctors Guide to Smart Career Alternatives and Retirement which is aimed at the physician who is fed up with his … Read more
Retirement account required minimum distributions (RMDs) can be a tax burden for those in their retirement years. But thanks to the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, we can declare our independence from the RMDs for 2020 and save a ton of money. RMDs are in place to be sure the … Read more
My Solo Practitioner Spouse Died Unexpectedly (Today’s guest post comes from the wife of a solo practitioner whose unexpected death came at a relatively young age. Her story reminds us how unpredictable life is and the importance of planning ahead. She prefers to tell her story anonymously.) I missed a phone call one day while … Read more
Last week I explained some of the rules and tax smart tips you need for hiring your children to work with you in your business. As I discussed on page 32 of my book The Doctors Guide to Real Estate Investing for Busy Professionals, you should be hiring your children to work in a business … Read more
(Time is running out to pre-order The Doctors Guide to Navigating a Financial Crisis, which comes out next Tuesday.) I have had several people ask me what must be done to hire their children and set them up with a Roth IRA from the money they earn. This question arose from page 32 of my … Read more
My new book, The Doctors Guide to Navigating a Financial Crisis, is almost here! Pre-order now and be one of the first to receive this needed book. If you have been hit financially by this pandemic, this is the book for you. “This is the definitive guide for any professional facing a financial emergency. Take … Read more
(If you are currently in the midst of a financial crisis, you will want to get a copy of my next book, The Doctors Guide to Navigating a Financial Crisis, coming June 16th. Pre-order the book here.) Many physicians have lost their joy in practicing medicine. Many factors work together to create joy in your … Read more