As a physician or dentist, you’ve worked hard to build a high-income career. But earning a high income doesn’t automatically create generational wealth. Many high earners find that taxes, lifestyle inflation, and poor financial planning prevent them from passing on true wealth to their heirs. The
Transitioning to Full-Time Practice: Managing Your New Income
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
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
Maximizing Your Employer-Sponsored Retirement Plan: 401(k) and 403(b) Tips for Physicians
As a physician, planning for retirement may seem like a distant concern amidst the demands of your career. However, making informed decisions about your employer-sponsored retirement plans, such as 401(k) and 403(b), can significantly impact your financial security in the long run. These plans offer
Financial Goal Setting
Achieving financial stability and success often begins with clear and actionable goal setting. For medical residents and fellows, balancing the demands of training with financial planning can be particularly challenging. However, establishing and prioritizing both short- and long-term financial
AI Your Finances – A Doctor’s Guide to Smart Money
As a financial planner for doctors, I recognize the unique financial challenges and opportunities that come with a career in medicine. The integration of Artificial Intelligence (AI), particularly tools like GPT (Generative Pre-trained Transformer), can significantly enhance your financial planning