One doctor thought switching from standard health insurance available on the ACA exchange to a Christian Health Sharing Ministry plan would save him money. Then he ran the numbers, including the tax deductions.
Helping Those Who Wear the White Coat Get a “Fair Shake” on Wall Street
You should only insure against financial catastrophes. So how do you decide when your death or disability is no longer a catastrophe? It helps if you go back to the reasons you bought it in the first place.
Foreign Medical Graduates face unique cultural challenges and financial disadvantages. However, they also carry unique tools and advantages into their attending years, and should take advantage of those to build wealth.
When evaluating a real estate investment, you have to look under the hood. And when you get under there, you better know the difference between a radiator and an alternator. You don't buy a car just looking at the horsepower and you shouldn't buy an investment just looking at the projected return.
Concerned about the effect of fees on your portfolio growth but also not willing to be a 100% Do-It-Yourselfer when it comes to investment management? A robo-advisor may be just what the doctor ordered. In this post, I review the various Roboadvisors on the market, along with their strengths and weaknesses so you can make a decision about whether this option is right for you.
Graduating medical students (and especially their spouses) have a strange, burning desire to buy a house so their friends, family, and psyche will feel like they've finally made it. If they're smart, they'll curb it. Buying a house in residency is a huge gamble of your time and money at a period of life when you have little of either.
The more I learn about doctors and their finances and the more I talk to other docs, the more I see several recurring themes that cause them to have difficulty reaching financial success. Don't make these seven mistakes.
Credible is trying to simplify the process of refinancing your student loans by offering you multiple options with a single application.
Peer to Peer Lending (P2PL) is a relatively new asset class I've been investing in for a few years with good success. The risks are high, but the low correlation with the rest of your portfolio coupled with the high returns make it worth looking into.
Should you buy whole life insurance? The short answer is, "Probably not." This is a product designed to be sold, not bought, where 80% of its purchasers eventually regret their decision. Are you one of the exceptions? Read this post to find out.
One of the most common questions and debates among blog readers is what to do with excess income- pay down debt or invest. There are a lot of considerations that go into this question, and there isn't necessarily a right answer for any given person at any given time. Read these guidelines to help you make your decision.
As investors move from their investment childhood through the teenage years, many of them seem to almost become fixated on designing the perfect portfolio. They've learned the importance of buy and hold, the importance of keeping costs low, and the importance of using passive investments over active ones. But investing is far more about sticking with a good enough portfolio than continually searching for the perfect one. Chances are, these 150 portfolios are all better than yours. Pick one and stick with it.
I'm still getting frequent questions on how to do a Backdoor Roth IRA. So I thought I'd put together a basic, step by step, tutorial people can refer to when they do this. Most physicians should be using a personal and spousal Backdoor Roth IRA. That means contributing to a non-deductible traditional IRA, then converting it to a Roth IRA. Beware the pro-rata rule, however.
My mantra with financial advice is "Good advice at a fair price." There are plenty of good financial advisors out there, but they're badly outnumbered, and by the time you know how to recognize one, you may know enough that you no longer need him. This post explains what the perfect advisor looks like, but you won't find him, probably because he doesn't exist. You may, however, find one that is good enough and offering his service at a fair price.
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