The Shift in Income Transitioning from residency or fellowship to full-time practice comes with a major increase in income. While it’s exciting, this is also a critical moment to set the foundation for long-term financial success. Many new attending physicians make costly financial mistakes
How to Save for Retirement While Managing Student Loans
Hi, I’m Chuck Krugh, a Certified Financial Planner (CFP) with years of experience helping medical professionals navigate their unique financial challenges. One of the most common questions I get from doctors and dentists is this: How can I save for retirement while juggling student loan
New Year, New Goals: Financial Planning Tips for 2025
The start of a new year is the perfect time to press reset, reflect on your progress, and set new financial goals. For physicians and dentists, who often balance demanding careers with personal financial responsibilities, a well-thought-out plan can make all the difference in achieving long-term
Financial Advice for New Attending Physicians: Live Like a Resident to Achieve Financial Independence
Transitioning from residency to an attending physician role is an exhilarating time marked by increased responsibilities and a substantial rise in income. However, despite the temptation to upgrade your lifestyle to match your new salary, it’s wise to continue "living like a resident" for a few more
The Importance of Estate Planning for Young Physician Couples with Children
Estate planning might seem like a distant concern, especially for young physician couples focused on building their careers and raising their children. However, establishing a comprehensive estate plan is crucial to ensure the financial security and well-being of your family in case the unexpected
The Importance of Estate Planning for Young Dentist Couples with Children
Estate planning might seem like a distant concern, especially for young dentist couples focused on building their careers and raising their children. However, establishing a comprehensive estate plan is crucial to ensure the financial security and well-being of your family in case the unexpected
Saving for Your Children’s Education
As a parent, ensuring your children receive a quality education is likely one of your top priorities. With the rising cost of college tuition, it's essential to start saving early to provide your children with the best opportunities. One effective way to save for their education is through a 529
Tax Strategies for Self-Employed Physicians: Deductions and Credits You Should Know
As a self-employed physician, managing your taxes effectively is crucial for maintaining financial health and optimizing your earnings. Unlike salaried employees, you are responsible for both the employer and employee portions of taxes, which can be complex and time-consuming. Understanding the