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
Out of the blue a new virus popped up and 10 weeks later it is a pandemic. Within the last 10 weeks doctors have identified this new disease, figured out how it is transmitted, identified what body fluid we need to test to determine who has contracted the disease, developed a test for it, mass … Read more
Last week we discussed why you never want to have a tax refund, which is an interest free loan to the government. But the best laid plans often get off track and you may still end up with a large tax refund. If you do, take this opportunity to do something great in your life … Read more
People often complain that their tax refund is smaller this year than last year. A smaller tax refund is not something to complain about, it’s a win! You don’t ever want to have a tax refund. Any time you get a tax refund, it means you made an interest free loan to the government. Why … Read more
(Today’s guest post comes from my friend Ryan Inman of Physician Wealth Services. You may know him from his Financial Residency Podcast. There are two types of fee only financial advisors: Flat Fee and Assets Under Management. My preference is for the flat fee advisor, and Ryan is one of those. If you need to … Read more
Americans have a big financial problem according to a recent government study. In one of the most prosperous nations on earth: 40% of us can’t afford a $400 unexpected expense, 20% can’t pay all the bills in full this month, a quarter skipped seeing a physician due to lack of funds, and 25% have nothing … Read more
Many years ago, debt was hard to get and was considered a dangerous and risky thing to have. Now it is so easy to come by, that possessing debt is almost universal. In fact, in 2008 the easy access to debt got our country into a bit of trouble, causing the housing crash. Today, if … Read more
(Doximity recently published this article of mine on the effects of consumerism. It originally appeared here, but some of you are not on Doximity so, with Doximity’s permission, I have republished it on my site for your reading pleasure) School has gotten back into full swing and thus we begin another cycle. Will this cycle … Read more
(Those of you who were holding out for the Kindle version of my new book, The Doctors Guide to Real Estate Investing for Busy Professionals, are in luck as it is now available on Amazon.) This week my wife and I celebrated our 31st wedding anniversary. It made me think about how my life has … Read more
