Retirement means something different to each of us. Some dream of all the fun they will have in retirement as if retirement is what life is all about. They live a life of self-imposed relative poverty to reach retirement quickly. Others spend all they earn as they earn it and don’t believe they will ever … Read more
With the latest market dip many questions have been raised regarding 401(k) accounts. These questions make it as clear as a neon sign that people do not understand how their 401(k) works. Here are two recent examples that indicate this lack of understanding: -I’m considering moving my money from my 401k to an annuity due … Read more
Last March while we were traveling home in our RV from our snow birding trip to Mesa, Arizona, I turned sixty. On our way to Southern California to meet some friends, we stopped at a bakery to pick up a cake. We enjoyed celebrating my birthday that evening with our friends, but it didn’t set … Read more
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
