Few people would argue that taxes aren’t complicated. Even for the simplest of situations, taxes can be perplexing for no other reason than the rules keep changing. As your financial situation improves and your income increases, more rules apply and there are usually more steps that need to be
Managing Debt – A Financial Weight Loss Formula
Perhaps the most encouraging outcome of the latest recession is the increasing emphasis on debt reduction by most Americans. The average American has over $20,000 in debt and most have much more. We are borrowing less and saving more, and, hopefully, developing some more frugal habits
Budgeting Basics for the New Physician
After spending seven to 12 years in medical school and training, the idea of budgeting probably doesn’t hold much appeal for most new physicians. But, we all have a goal of improving our cash flow which is the essence of budgeting, and any business expert or professional athlete will tell you that,
A Winning Strategy for Saving Money while Reducing Your Debt
Save money or pay off debt, it’s a conundrum for new physicians. Both are important, but many physicians feel cornered by the decision because their budget only allows them to do one or the other. Instead of racking your brain to decide which to do, why not make it easy on yourself and just do
The Importance of Starting Your Estate Plan Now
You would be hard pressed to find more than a few intelligent and responsible individuals who wouldn’t agree that planning for the future is one of the most important things we can do as adults, especially where the security of our families are concerned. Yet, astoundingly, 42% of adults over the
Physician Retirement “Gotchas” to Avoid
Unquestionably, physicians are starting to take their retirement planning much more seriously. With life expectancy on the rise, greater economic uncertainty on the horizon, and lowered expectations for long term investment returns, many of us are looking at our retirement with a little more
Physician Retirement Plans Benefit from Diversification
As with too many retirement savers, it took two stock market crashes (2001, 2008) and a global financial crisis for Randy Page, M.D. to finally realize that trying to time the market or pick specific stocks or sectors is a costly exercise in futility. But, with the value of his qualified retirement
Physicians Investing too Conservatively
That physicians tend to be risk-adverse and cautious in their approach to investing can work to their advantage. But the same approach, when applied through several market cycles consisting of both market advances and market declines, is less likely to generate the long term returns necessary to