A lot of ink has been spilled on the pros and cons of annuities. Advisers tend to have strong opinions about annuities. Insurance professionals often recommend them. But then, annuities pay relatively high commissions. Stockbrokers and Wall Street advisers often don’t like them. But they are trying
Alternative Money-Making Ideas for DoctorsDoctors almost always make good money once they leave residency and enter practice as an attending physician – and can reasonably expect to make $200,000 per year and much more in short order, once they get into the swing of things.But not everyone wants the
Nearly every insurance expert will advise doctors it’s important to own a disability insurance policy with an “own occ” (own occupation) definition of disability written into the contract. That’s in contrast to the less desirable “any occupation” definition included in many contracts.For physicians,
Report: Average Med School Graduate Student Loan Balances Reach $246,000A student loan of a quarter of a million dollars.That’s the average debt incurred by today’s newly-minted doctors who graduate with student loan debt. A recent report from the National Center for Education Statistics found that
Most physicians we speak with understand the need for at least some individually-owned disability insurance. But there’s another important form of insurance protection that is growing more and more popular as physicians and employers see the need: Critical illness insurance for doctors.For proper
How Physicians Can Use a Health Savings Account for RetirementMost physicians have a pleasant problem: They make too much money per year to make fully-deductible contributions to a traditional IRA for retirement. Many earn too much to contribute to Roth IRAs as well.But there’s another less
Insurance Coverage Every Private Practice NeedsWhen a physician transitions from practicing as an employee to owning or being a partner/shareholder in his or her own private practice, the financial picture changes. A lot.As an employee, you’re sheltered from having to protect the business entity.
How To Use A Credit Card (And What to Look Out For)First of all, let’s get this out of the way: We know that for the vast majority of cardholders, credit cards are toxic to financial health. Unless you get one of those sweet introductory 0 percent interest deals for nine-months to a year, interest