(This week we have a guest post from Rick Pendykoski, who helps set up self-directed IRA accounts at Self Directed Retirement Plans, LLC. These accounts have more flexibility as to where you can invest the money than a typical IRA account. You can even invest the money in your new business or real estate venture. … Read more
With Father’s Day approaching, I would like to share six lessons that I learned from my dad. Parents have a big responsibility in bringing up the next generation. Our kids learn from watching what we do more than hearing what we say. So doing what’s right pays dividends with our kids. As physicians, we miss … Read more
Many physicians have a poor understanding of personal finance. Since personal finance isn’t a required course in high school, college or medical school, physicians are often unprepared to handle their high income when they become an attending. Sometimes the results of this lack of education are not pretty. Other times it’s a down right disaster. … Read more
Here we are, coming down the home stretch and about to finish residency. With an increased income comes some new financial decisions. The need for life insurance is one of those decisions. If you don’t have any, now would be a good time to consider getting some. The purpose of life insurance is to support … Read more
We will be celebrating Memorial Day this weekend. This is one day of the year that we remember those who have died for our country while serving in the armed forces. I served in the Naval reserves for seven years, which included the years in which the Navy paid for my medical education. I spent … Read more
Locum Tenens is a great way to make a living or earn some extra income. But frankly, there are some groups of physicians who should not even consider doing locums work. When you pair the right person with the right job, you can get employment bliss. But when the wrong person takes a job, both … Read more
This weekend we will be celebrating Mother’s day. In honor of mothers everywhere I thought I would share a lesson I learned from my mother; family comes first. She taught me this lesson, not by words, but by her actions. We have all heard the saying “actions speak louder than words.” I wonder how many … Read more
Every year when it comes time to file our taxes, we either get a refund or we owe more than had been withheld during the year. It never works out that the taxes withheld are exactly what is owed. Up until the new 2018 tax changes, those who only had a W-2 income from a … Read more
Every week I run into a few articles that I feel are especially valuable, so each Monday I plan to share some of the best with you, my readers. I hope you find them helpful. This week’s favorites include lump sum contributions for college savings accounts, saving for college vs. saving for retirement, the crucial … Read more
I often hear people talking about their “investment” in gold. Then there are those who have a “diversified portfolio” and gold is one of their forms of diversification. I’ve encountered people who have $60,000 worth of gold bars in their home safe, in case of a major financial crisis. We all see the celebrities pitching … Read more
