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
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
Planning for Tomorrow: The Case for Long-Term Care Insurance
Life is a journey, complete with its fair share of challenges and triumphs. However, as wenavigate this path, there’s one crucial aspect many tend to overlook: preparing for theunforeseen events that may arise during our golden years. One such event is the potential need for long-term care. In the
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
Are Annuities Right For Physicians?
One of the principal tenets of investing is that no one single investment is right for everyone. Every investment has certain characteristics, risks, and objectives that must match those of the investor, and annuities are no different. Although annuities have become more popular in light of the
Designing a Good Life for Young Physicians
A common mistake that many new physicians make when their earnings increase is, instead of increasing their savings by the amount of increase, or at least a proportionate amount, they add their pay increase to their lifestyle. Typically, people who don’t have a “purpose” for the next dollars they
Disability Insurance for Aging Physicians: Protecting Your Career and Retirement
You want to retire on your own terms—when you’re ready. While physician disability insurance is essential for protecting your livelihood, ideally, you’ll never have to use it. But what happens if your body tells you otherwise?The cost of living has skyrocketed, making retirement more expensive than