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    A second opinion on how Life Insurance will fit in your retirement plan.

A second opinion on how Life Insurance will fit in your retirement plan.

The way Americans look at their retirement has changed considerably since 2020.  Many begin to wonder if they should retire early without having planned it, others are taking early withdrawals from retirement accounts like 401(k)s and IRAs.  There is even some who postponed their retirement plans.

Regardless of your financial situation, this year the principles […]

By |March 7th, 2022|Accounting, Life Insurance, Life Insurance|Comments Off on A second opinion on how Life Insurance will fit in your retirement plan.|

Physicians: Use Care When Selecting a Financial Advisor

In our financial discussions, we often talk about safeguards to help physicians protect their income. We share strategies for using insurance products in your retirement and family financial planning.

While we present a lot of ideas, we always encourage you to discuss them with your financial advisor. But how do you select a financial advisor? […]

By |September 15th, 2021|Accounting|0 Comments|
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    How to Recoup Your Financial Health After COVID-19 Wreaked Havoc on Doctors’ Earnings

How to Recoup Your Financial Health After COVID-19 Wreaked Havoc on Doctors’ Earnings

This past year, the COVID-19 pandemic threat has upended lives around the globe. It’s left few things unchanged—especially when it comes to jobs and income. And even with the extra workload that COVID-19 has brought to some segments of the medical system, many doctors have suffered financially.

According to an October 2020 survey, almost half […]

Buying Disability Insurance? Read This First!

As the saying goes, forewarned is forearmed. And for the family physician looking to buy disability insurance, there are several things you need to know before speaking with an agent.

To start with, buying disability insurance is different from buying home, car, health insurance or long-term care insurance. Not only are all products not created […]

7 Ways Physicians Can Build a Rainy Day Fund

Do you have a financial emergency fund put aside?

Many physicians don’t. They often think that they’re too busy to focus on their financial situation. Or they’re making enough money so that they don’t have to worry about keeping to a budget. And they believe that their jobs are secure. That’s not surprising given that […]

A Whole Life Strategy for Minimizing Taxes in Retirement

While we tend to focus on ways to minimize taxes while we’re working, it’s also important to consider how to make retirement less taxing. One tax minimization strategy for retirement is the 7702 plan, which you fund with after-tax dollars. It’s a life insurance policy that augments the death benefit protection with an investment […]

The Family Physician’s Prescription for Financial Health

You know the importance of helping your patients enjoy optimal health. But what about you? Specifically, what are you doing to help ensure your financial health?

Debt management, tax planning, estate planning, children’s college fund, retirement planning, and the legacy you want to pass along to your family—these are just a few of the areas […]

9 Smart Tax Strategies for Keeping More of Your Money

When it comes to building wealth and preparing for retirement, there are many strategies for saving and investing. One aspect that physicians often do not fully utilize is saving through smart tax strategies. Specifically, you should have a tax strategy that takes advantage of legally allowable tax deductions to retain as much of your […]

The Doctor’s Guide to Financial Freedom

A MoneyWatch article asked, “Is becoming a doctor a million dollar mistake?” They were referring to the high cost of a medical degree, plus the lost decade of earnings at the beginning of a doctor’s career.

While certainly provocative, the question deserves an answer. It depends on how well you prepare for:

The financial burden […]

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    The Handy Guide to Refinancing and Consolidating Medical Student Debt

The Handy Guide to Refinancing and Consolidating Medical Student Debt

While the experts talk about the need to lower the financial burden associated with attending medical school, the reality is that student loan debt is higher than ever. Add together undergraduate loans with medical school debt, and some have calculated the total average student loan debt for graduating physicians to be as high as […]