Today, as I write this, I sadly read about another celebrity with significant wealth who died without a will. Aretha Franklin left behind an estate worth $80 million with significant future royalties and no instructions for who should receive her fortune. Over the next few years, we will hear about the fighting and legal battles … Read more
Many doctors are waiting until they reach age 59 ½ to retire because they mistakenly think they can’t take any money out of their retirement accounts until then without paying a 10% penalty. The IRS rule 72(t) provides the instructions on how to start using the money in your IRA penalty free by taking substantially … Read more
We all get caught up in the New Year sentimentality on January 1st; the ability to have a fresh start and wipe the slate clean. Which translates into starting over in some areas of our lives. So we make our New Year’s Resolutions, hoping that this year our lives will change for the better. We … Read more
Last week I talked about who should own a timeshare. If you are among those I was describing, then the following tips will be helpful to squeeze the most value out of your purchase. If you want even more tips and tricks for using your timeshare, pick up a copy of my best selling book, … Read more
Getting accolades for your hard work, whether it was a successfully completed difficult surgery, a beautifully weeded flower bed or writing a best-selling book is very honoring. Last month two atta boys came my way. I was honored to receive two gold medals from the North American Book Awards. My third book, The Doctors Guide … Read more
Several years ago I had a discussion with one of my residents. He was telling me about how great it was to fly back to Portland to visit his girlfriend. The airplane flight was only 45 minutes and fairly inexpensive. This conversation got me thinking about travel and what mode of transportation is best for … Read more
Often a stay at home mom, like we have in our house, is not thought of as a contributor to wealth. Too often, only the person who “really” works and brings home an income is considered to be generating wealth. This is a case of incorrect thinking. The non-working spouse is a very big factor … Read more
(A few weeks ago Jeffrey T. Wade, M.D contacted me after reading my book, The Doctors Guide to Smart Career Alternatives and Retirement. He thanked me for writing the book and told me that he found the book both informative and enjoyable. He also felt many of my career alternative examples were not directed at radiologists … Read more
I recently was faced with a decision to sell an income producing commercial building owned in a partnership of 20+ owners. We had not thought about selling the building, but an interested party approached us with a viable offer. We were all suddenly faced with making a decision to sell or keep the investment. We … Read more
A few years ago my son expressed interest in racing bicycles. I thought that would be a great way to spend time with him, and if I was going to be at all the races, I might as well race too. It would also help me take a few unwanted pounds off and get me … Read more
