Personal finance isn’t taught in most medical schools or residency training programs, so it’s no wonder many doctors don’t start saving sooner. Here’s some back-of-the-napkin math on how much you need to save each year to reach your retirement goals. By Jimmy Turner, MD I’d like to say...
While the idea of having a financial planner may seem convenient, finding an affordable financial planner who has your best interests at hand can be a daunting task. Target funds and robo-advisors are two modern tools designed to help novice investors manage their own money. By Kayla Knuf, MD ...
The days are getting longer, and spring is fast approaching. But before we can enjoy the warmer weather, we all must get past one of the most dreaded financial hurdles of year: tax season. Here are some concrete strategies to maximize deductions and minimize the pain. By Daniel Kinney, MD ...
Thanks to the internet, it's now even easier to manage one's finances. But even these online tools require inputs based on highly individualized budgeting decisions. Here are five key questions you must answer to create a budget that truly works for you. By Michael Norton, MD, MBA Quick...
For many, recent volatility in the stock market has been scary. For young physicians and other potential long-term investors, it can be an opportunity. By Cobin Soelberg, MD, JD, FASA Mortgage rates are at their highest level in over a decade . The stock market just hit its lowest point ...
As a young physician my income has been changing rapidly and, come to find out, I wasn’t withholding enough. It’s more complicated though, and I have learned a great deal about tax code and tax reform while researching the “why.” By Chelsea Altinger Casey, MD “Inaccurate withholding can...
Why Public Service Loan Forgiveness (PSLF) is such a particular boon to indebted physicians. By Chris Malgieri, MD Eleven years ago, on a balmy late-spring day in Columbus Ohio, I entered my medical school lecture hall for a mandatory student loan information session presented by our...
If we’re serious about long-term financial planning we must first understand the emotional drivers—overconfidence, unconscious bias, even jealousy and envy—that may be getting in our way. By Cobin Soelberg, MD, JD, FASA When many physicians think about saving for retirement, they focus on...
It can be a headache finding the right person to look after your home and your children, but when you are lucky enough to find a keeper, you will need a financial plan – and hopefully not encounter another headache. By Chelsea Altinger Casey, MD A good nanny, or caretaker is a priceless...
While not part of a traditional investment plan, several arguments can be made for having some amount of alternative investment funds. By Matthew Dellaquila MD MBA FASA If limited to a small percentage of your investment fund, alternative investment funds such as cryptocurrency, angel...