When Should You Review Your Life Insurance Policy?

Life changes. Once you graduate from medical school and complete your residency, the rate of change only seems to escalate. New job opportunities and business decisions can mean more income, while marriage, children and owning a home lead to more spending.

As these changes occur, ask yourself: What happens if I die and am not […]

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 […]

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    Is It Time to Consider Using Whole Life Insurance to Reduce Your Portfolio Risk?

Is It Time to Consider Using Whole Life Insurance to Reduce Your Portfolio Risk?

a popular phrase used in the investment world, “buy term and invest the
difference.” At least since the 1980s it’s captured the prevailing advice about
life insurance. In fact, since that time, whole life insurance has sometimes received
a bad rap, much of which is undeserved.

recently, studies have come out that put a new perspective on whole […]

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?

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 you need to be addressing. […]

By |November 12th, 2019|Uncategorized|0 Comments|
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    How the AAFP Foundation Helps Improve Health Around the World

How the AAFP Foundation Helps Improve Health Around the World

With a vision of improving the health of all people, the American Academy of Family Physicians (AAFP) Foundation’s programs include humanitarian, educational, and scientific initiatives. Along with the donations from family physicians, corporations and others, dividends received from the AAFP Foundation’s subsidiary, AAFP Insurance Services, Inc., make these initiatives possible. The 501(c)(3) organization supports […]

By |September 20th, 2019|Uncategorized|0 Comments|

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 […]

The Quick and Easy Guide to Medical Malpractice Insurance

The good news for healthcare professionals is that medical malpractice claim frequency is lower than it has been in the past(1). Also, of the malpractice cases pursued, only seven percent make it to court. Of those, about one in five rule in favor of the plaintiff.

The bad news, however, is that the few cases […]

5 Financial Books to Help Physicians Manage their Wealth

In their many years of schooling, physicians rarely if ever touch on the issues of financial management and investments. Often they begin careers saddled with debt. Working long hours, medical professionals have little time to devote to learning about finances. Plus, once they are finally earning money, they are apt to want to live […]