What Should Doctors Do With Their Money Before Year End?
It feels great to check things off your list—but what should be on your year-end money list as a physician? Let’s look at the top money moves we believe physicians should consider before ringing in the new year.
5 Ways Women Physicians Can Plan For Longevity In Retirement
Women live about 5 years longer than their male counterparts, on average. This longevity gap means that women may need to pay extra attention to how they’re saving for retirement, so they have enough to feel financially secure and confident in their golden years. While you don’t know how long you’ll live, it can be […]
How Doctors Can Start Taking Advantage Of Their HSAs Today
A Health savings account (HSA) can be a powerful tool for long-term health savings and can even help you save for medical costs in retirement, which may come in handy down the line. A Fidelity study found that a 65-year-old couple retiring in 2022 would spend about $315,000 (after-tax dollars) on medical costs alone. An […]
How Medical Practice Owners Can Creatively Save for Their Kid’s College
Owning a business means you may have creative ways to help save for your kids’ education. With the average cost of tuition tipping $35,000 per year, saving early and consistently is the best way to meet your future goals. Let’s look at how medical practice owners can start saving for their children’s college expenses. Save […]
Time or Money-Weighted Returns, Is One Better Than The Other?
When you look at your investments, you’re likely only seeing if you made or lost money. That high-level snapshot isn’t comprehensive enough to determine how well your assets are really doing, if you’re on track, if you need to make changes, etc. Is there a more accurate way to depict your portfolio’s performance long-term? Yes! […]
5 Ways Doctors Can Invest In Real Estate
Investing in real estate can be a smart money move for physicians if it fits into their financial goals. The “best” way for doctors to invest depends on how much time and money they’re looking to invest. Here are 5 smart ways we believe that physicians can start investing in real estate. 1. Invest In […]
6 Questions Doctors Should Ask Before Hiring An Advisor
Hiring a financial advisor can feel overwhelming. Deciding who to consult and trust with your financial well-being is a big deal! On top of the enormity of sharing your finances with someone else, doctors have unique financial needs that require a certain level of expertise, so you should work with a team that specializes in […]
3 Things Doctors Should Know About the PSLF Program Updates
It’s no secret that doctors can have a hefty amount of student debt. And a viable option for many physicians in the public/nonprofit sector is Public Service Loan Forgiveness to help get their loans off their balance sheets. But the PSLF program hasn’t garnered the best reputation over the years. It’s been riddled with errors […]
The Physician’s Guide To Buying Your First House
Are you in the market for a new home? Join the club. The housing market is still roaring strong, and as the spring rapidly approaches, there will be more open houses, for sale signs, and realtor calls than you know what to do with. Feeling overwhelmed? For physicians buying their first homes, you’re in luck! […]
Should Doctors Open Roth IRAs for Their Kids?
Many doctors prioritize their financial health and seek to pass that trait onto their children. Plus, given the current state of financial literacy in the U.S., most education about money and personal finance falls on parents or caretakers. And one of the most important financial concepts to teach is the art of compounding interest—something you […]