The Backdoor Roth IRA has become all the rage in the last few years. Almost every physician financial blogger is writing about how to get around the income limits imposed by the Roth IRA rules. This clever work around is called the Backdoor Roth IRA. But congress is contemplating ending the rules that make this … Read more
(Today’s guest post comes to you from Fiona Smith, the founder of The Millennial Money Woman. She would like to share the following disclaimer: This article reflects my own views, ideas, and opinions. I am not an investment advisor and I always recommend you communicate with your accountant and financial advisor before investing.) If you’re … Read more
I am amazed at some of the comments I get from people seeking financial advice. Often, they are asking for the secret to financial success. “What do I need to do to become wealthy?” This is frequently asked while searching for something magical they can do to improve their financial wellbeing without having to change … Read more
I recently received a large sum of unexpected cash. An investment I had made a few years ago suddenly cashed out. When this situation comes up on social media it sparks a debate as to what to do with the money. Usually only two options are discussed: Invest the money (stocks or real estate) or … Read more
(I will be giving two lectures in the White Coat Investors Physician Wellness and Financial Literacy Conference next week. To get virtual tickets click here. If you will be attending in person, please say hi. I love to meet my readers.) I recently received the following email from one of my readers, which prompted today’s … Read more
As 2021 draws to a close, and we start thinking about beginning the new year with a fresh start, we think about making New Year’s resolutions. Although we plan to achieve these resolutions during the year, often by the end of January we have reverted back to our old ways. Resolutions long forgotten. But not … Read more
(Only a few days left to sign up for the upcoming Marriage and Money MD Conference November 15-17. Attendance is free, but registration is required. There will be 20 CME credits available. You don’t want to miss my two discussions: Your Spouse is Your Greatest Financial Asset, and Divorce Proofing Your Marriage. The second lecture will be … Read more
(Don’t miss your chance to sign up for the upcoming Marriage and Money MD Conference November 15-17, which is free to attend, but you must register. You don’t want to miss my two topics. My main conference topic is Your Spouse is Your Greatest Financial Asset. I am also covering Divorce Proofing Your Marriage that … Read more
Last month, a special date snuck up on me and caught me by surprise. I didn’t see it coming and thus I was a sucker for a surprise birthday party. It happened to be on a day the kids were coming over for dinner, as they do once a week. A good set up. My … Read more
Almost no one accidentally becomes a millionaire. There are a few who inherit a fortune and become millionaires without any effort, but for the rest of us, becoming wealthy requires purposeful action. But it requires less purposeful action if you simply automate the process. As you know from my real estate investing story, after I … Read more
