DRB Starts Refinancing Student Loans For Residents

I have a really exciting piece of news for you. But first, I need to get my traditional disclosure out of the way. For a number of years it was basically impossible to refinance your student loans to a lower rate. Then, a couple of years ago, a few small companies starting doing it again. The first of these I came into contact with was Darien Rowayton Bank. I was pretty excited and ran a … Continue reading

Can You Trust Your Trust? A Review

I was recently sent two review copies of Can You Trust Your Trust? by Seymour Goldberg, CPA, MBA, JD. I’ve reviewed a trust book on the blog once before, Living Trusts for Everyone, and so was expecting something similar. It turned out to be a very different book, for better and for worse. I was expecting a bit of a layman’s discussion of various trusts, their uses, and then maybe a pitch at the end … Continue reading

Updates in the Disability Insurance Marketplace- Part 9

  [Editor’s Note: This is a guest post from Lawrence B. Keller, CFP®, CLU®, ChFC®, RHU®, LUTCF, a frequent contributor and now an advertiser on the blog. This is Part 9 in his long-running series updating you on some of the intricate details of the disability insurance marketplace. This post deals with recent changes with three of the “Big Six” disability insurance companies- Principal, Metlife, and Ameritas.] Principal Principal launched several product and underwriting changes, … Continue reading

Random Ponderings on Investments

I have had a bit of time lately and have found myself pondering a number of different subjects, none of which is really long enough for a blog post on its own. So I’ve combined them all into one big post. I hope you find something here useful. Why Not Combine Investing and Transportation? Regular readers know I’m generally not a fan of combining insurance and investing using insurance based investing products like permanent life … Continue reading

Site Redesign Suggestions

Here at WCI we’re in the early stages of a site redesign. I’ve gotten lots of great suggestions over the years, some of which were easily implemented and some of which weren’t. This is your chance to really make a difference in your experience and that of new arrivals at the site. Everything design-related is fair game. In your comments, consider the following issues: What do you like/dislike about the layout? Readability issues? Organizational issues? … Continue reading

Choosing Between Roth and Traditional 401(k) Contributions

My March column in ACEP Now is all about the decision between using a Roth and a traditional 401(k), an important investing topic that can be surprisingly complicated. Here’s an excerpt: Question. My 401(k) now allows me to make Roth contributions. Should I do that or continue making the tax-deferred contributions I have been making for years? A. It turns out that this is a very complex question, and anyone who pretends the answer is … Continue reading

A Personal Journey in Real Estate Investing

[Editor’s Note: This is a guest post from Eric Tait, MD, MBA, a practicing internist and a professional real estate investor. After having a few lengthy arguments with Eric on the Sermo forum, I invited him to write up his story for publication here. A few months later, I received this in my email box. I think you will find it inspiring. We have no financial relationship. Enjoy!] My story begins with a wide-eyed first … Continue reading

Avoid Being an Investment Collector

My March column at Physicians Money Digest is entitled Avoid Being an Investment Collector. This is a surprisingly common affliction among advisors, but especially among DIY investors. Here’s an excerpt: A frequent mistake I see physicians and even their advisors make is that they become “investment collectors.” A collector is someone who sees something they like, buys it, and places it on a shelf where it can be admired. The next time they’re at a … Continue reading

Maximizing Real Estate Tax-efficiency and Cash Flow

I’ve been looking at lots of syndicated real estate deals over the last year or so. I have noticed a common theme among them and it finally dawned on me the reasoning behind it. These deals are generally structured to have a down payment of around 1/3, and generally last 5-7 years. The reason for this is to maximize the cash flow that can be protected from taxes by the depreciation, while still being able … Continue reading

Disability Insurance – To COLA or Not to COLA

[Editor’s Note: This is a guest post from insurance agent Lawrence B. Keller, CLU, ChFC, CFP®, a long-time contributor and reader who now also sponsors both the blog and The WCI Scholarship (have you contributed yet?) This particular post discusses a common rider that is usually offered as part of a disability insurance policy. Enjoy!] The Cost Of Living Adjustment Rider (COLA), which is optional, is designed to help your disability insurance benefits keep pace … Continue reading

Big Debt Without an Income – A Med School Disaster

A medical school graduate recently published an account of the financial disaster she is facing due to a failure to match into a residency program two years running. After attending OHSU, where she ran up a $400,000 tab despite resident tuition, fees, and insurance of under $45K per year, she was unable to accomplish her dream of practicing medicine. While she didn’t post her transcript, board scores, essays, and letters of recommendation, reading her account … Continue reading

Doctor Mortgage Loans- What’s New in 2015

Well, Match Day has come and gone. Most US MS4s are giddy with excitement about moving on to the next phase of life (where they actually start getting paid, even if it is relatively meager payment.) A few are heartbroken as well, and there will be a post about that on Monday. But this weekend, we’re going to do a brief update about what’s going on in the doctor mortgage marketplace. These posts are relatively … Continue reading

Some More Thoughts on Roth 401(k) Contributions

As a general rule, Roth accounts are for people who are not in their peak earnings years, and tax-deferred accounts are for those in their peak earnings years. There are lots of exceptions to this general rule, of course. One of the most well-known ones is the Backdoor Roth IRA. But in that case, you’re really comparing a Roth account to a taxable account. Of course the Roth wins hands down. In a 401(k), you … Continue reading

Do Not Be The Sucker

[Editor’s Note: This is a guest post from Chris who has a blog titled Eat The Financial Elephant. He and his wife blog about do-it-yourself wealth building, financial planning, and investing with a focus on achieving financial independence and retiring at an early age simply by eliminating waste and living efficiently to create a high savings rate, in their case over 50%.  I bet he doesn’t buy $11K tables or waste money on expensive boats! … Continue reading

Relative Frugality

I have a confession to make. I’m not frugal. I used to be. In fact, I was pretty frugal for a good portion of my life. Maybe I still am in the view of many physicians, since I drive a 13 year old car I bought for $4K four years ago. But I don’t see myself as frugal at all. However, what I am, and what most physicians need to be if they hope to … Continue reading