Betterment Tax Loss Harvesting

[Editor’s Note: This is a guest post submitted to me months ago by radiologist Toshi Clark, MD, with whom I have no financial relationship. It is about Betterment, one of the “robo-advisors,” which is trying to fill a niche between do-it-yourselfers and a full-service “human” advisor. Dr. Clark has no financial relationship with Betterment (not even as a client), but I technically do. I don’t think I’ve ever made much money off an affiliate advertising … Continue reading

Tips To Avoid Paying Alternative Minimum Tax

My February column for ACEP NOW is all about The Alternative Minimum Tax. Typical physician incomes ($150K-400K) fall right smack in the middle of the range of folks hit by the AMT each year, so many physicians know they get hit by this, even if they’re not sure exactly why. This column will help you understand how the AMT works as well as some ideas to possibly decrease your tax bill as a result of … Continue reading

Announcing The White Coat Investor Scholarship

As mentioned in this year’s State of the Blog post, we’ll be having a White Coat Investor Scholarship competition this year. This post will serve as the formal announcement, but it is being announced this week on other forums and blogs and hopefully via email to medical and other professional students by their peers. In fact, we recently finished mailing a note about the scholarship and a free copy of The White Coat Investor: A … Continue reading

How To Survive A Medical Malpractice Lawsuit – A Review

If you’re a doctor, the odds of you making it through your career without ever being sued are vanishingly small, especially in some of the more liability-prone specialties. Ilene Brenner is an emergency physician whose father was a malpractice defense attorney. When her turn to be sued came up, she learned a great deal about the process, both from her defense attorney, and her father. The appropriately named How to Survive A Medical Malpractice Lawsuit … Continue reading

Step by Step Process to Improve Your Practice Retirement Plan

[Editor’s Note: This is a guest post from Mark Zoril, a financial advisor at Plan Vision. This firm specializes in setting up retirement plans for small and medium size firms. This post is an excerpt from their free ebook (Simple Steps to Success: The eBook to Help You Improve Your Workplace Retirement Plan ) offered at his site, with some minor editing. Although this post is lengthy, it is an excellent step by step guide … Continue reading

Presentation – How Much Do You Really Need To Retire?

Many people have no idea how much they need to retire. This amount can be measured as both a net worth (of investment assets) and as an income. People also aren’t sure whether or not to include the amount shown on their Social Security statements. My latest presentation on QuantiaMD discusses this important concept. It also discusses the fact that most docs won’t need anything near their pre-retirement gross income in order to maintain the … Continue reading

An Invitation to Contribute

I recently received some sincere, but brutal criticism from a regular reader in the form of a book review. Brutal criticism is the most useful type you can get, although I confess I prefer getting it in a private email than an online review. Some of it is worth a response and discussion. The rest of it simply represents a limitation of any blogger- when you get personal you can only share your own experience … Continue reading

How Our Children Will Survive

[Editor’s Note: This is a guest post from Glenn Frank, CPA/PFS, MS (Taxation) who has submitted a guest post previously and has previously purchased advertising on The White Coat Investor. He owns Frank Advising, which analyzes the tax side of a portfolio for a quoted fee, and is a professor in the financial planning program at Bentley University. Enjoy the post. I’m curious to hear the comments on this one.] How Will Our Children Survive? … Continue reading

Multiple 401(k) Rules

I first wrote about this subject over two years ago in a post entitled Beating the $51K Limit (for which I am still eternally grateful to Mike Piper for the pearl that grew into that post.) Well, the $51K limit has since grown into the $53K limit thanks to inflation, but all the same principles still apply. I get tons of questions on this subject in online forums, in the comments sections of the posts … Continue reading

Come With Me If You Want To Live

I recently had the opportunity to submit a guest post to the blog of an emergency physician, Ilene Brenner, who also happens to be the author of a new book How to Survive a Medical Malpractice Lawsuit: The physician’s road map for success. Hopefully I’ll get through the book soon so I can review it, as she also sent me a copy to share with readers. Thus far it looks great. At any rate, I … Continue reading

The Downsides of an S Corporation

[Editor’s Note: This is a guest post from W. Devin Wolf, CFP®. a financial adviser in Washington State. I have written before about incorporating. There are both pluses and minuses to doing so. This post primarily discusses the downsides. We have no financial relationship.] Conventional wisdom encourages small business owners to form an S Corporation to reduce the amount of self-employment taxes they owe. The goal is to reduce your wages and pay profits out … Continue reading

People Still Believe In Active Management?

Every now and then (okay, every week) I run into someone with a different investment philosophy from my own. Occasionally, the exchange is jaw-dropping. For instance, I kind of thought the passive vs actively managed investment argument had been pretty much decided for the last 10-20 years. Apparently, not everyone feels that way, despite what I consider fairly overwhelming evidence. I had lunch the other day with a well-educated, pleasant, articulate investment advisor who works … Continue reading

Student Loan Refinance Rates Drop Again

I was reminded once more this week while speaking to a group of physicians that there are many, many graduating residents out there who owe $300K, $400K, or even more in high-interest student loans. If you’re not going to be going for Public Service Loan Forgiveness, then it would behoove you to refinance those loans and then live like a resident until they’re paid off. I’ve written before about student loan refinancing. You basically couldn’t … Continue reading

Should I Get an HDHP Just to Use an HSA?

Q. I’ve heard all about using an HSA as a triple tax free account and/or a Stealth IRA and I’m excited to have some more tax-protected space. However, I have a non-high deductible health insurance plan available through my work and wonder if I should use that instead of an HDHP. A. I get this question a lot. It’s important not to miss the forest for the trees and to let common sense prevail. However, … Continue reading

Top 16 Reasons It Sucks To Have A Low Income

Well this has been a fun week. It’s not typical for me to have posts that generate over 100 comments on them, nor have my email box filled with hate mail about something I wrote. Lest I be accused of  being a “Defender of the Rich” I decided to write a quick post about low income earners. You see, like many physicians, I have been both a high earner and a low earner. In fact, … Continue reading