Are You Moving Toward or Away from Financial Independence?November 30th 2016
Financial independence is typically defined as not having to work for money. A financially independent doctor may still continue to work, but would be able to live and support her family for the rest of their lives off of savings and completely passive income sources.
Financial Considerations for Mid-Career PhysiciansSeptember 28th 2016
There are plenty of financial articles out there for doctors who are just getting started with their investing careers. However, for those in between these two stages (mostly 40 to 50 years old), there is an absolute dearth of information available on the internet and in bookstores.
We are now about seven and a half years into a bull market â€“ not counting that very brief blip in 2011 that you probably didnâ€™t even notice. It is well-known that the further we go into a bull market, the more frequently we will hear the question, â€œWhy not just invest 100% of my portfolio in stocks?â€
Tax-deferred Retirement Accounts: A Gift from the GovernmentAugust 12th 2016
In early career, a physician typically has a high income, a low net worth, a high tax bill, and significant liability concerns. Large contributions to tax-deferred retirement accounts are the perfect solution. Donâ€™t say the government never did anything for you.
6 Reasons the Rich Should Pay Off Their MortgageApril 26th 2016
Most Americans have a financial goal to have a paid-for house. Many would even like to pay the house off in less than a standard 15-30-year time period. That's not the right move for everyone, but it's a good idea for the rich. Here's why.
Mutual Funds Versus Exchange Traded FundsNovember 6th 2015
Many beginning investors wonder if they should be investing in traditional mutual funds (TMF) or exchange traded funds (ETF). There are some subtle differences between the two that may help you to decide which one to use in your circumstances.
How to Negotiate Lower Advisory FeesOctober 1st 2015
In personal finance, it is well-known that success comes from winning the big battles, rather than amassing thousands of minor triumphs. Psychologically, it is hard to deny yourself over and over and over again. So use your limited willpower where it will make the biggest difference â€“ on the big expenses of your life.
5 Steps to Start Saving for RetirementJanuary 20th 2015
Those of us who have been managing our own portfolios for years sometimes forget just how overwhelming and complicated it can seem in the beginning. If you are an investor who has recently been inspired to start saving for retirement, here are 5 steps you should follow to get started off on the right foot.
Save Estate Taxes with a Qualified Personal Residence TrustOctober 27th 2014
The number of physicians with an "estate tax problem" is lower than it used to be. For those with such a problem, one option to reduce their estate tax bite is giving away their primary residence prior to death. This is done using a Qualified Personal Residence Trust (QPRT).