A client and I were meeting recently and were going over her plans for a radical change in her work habits. She’s a fairly new attending (less than 5 years out) and plans to cut back by 50% in 10 years and then retire when her youngest starts college. And she wants the same for her husband, who is not a physician and makes about 1/3 of her salary. As we put together a plan to make this happen, she made a comment that struck me: Continue reading
money saving tips
Ideas for Doing Finances as a Couple [VIDEO]
It’s a rare couple that is in 100% agreement on spending. But you need to be able to find some common ground, especially if you are planning for early FI. Ben has some tips to help you pull in the same direction when you’re discussing money! Continue reading
The Irrelevance of Fees (Expense Ratios) in your Investment Portfolio
The most common question prospective clients ask about our investment philosophy involves the fees charged by the funds we use: “Do you recommend active or passive funds? What about the fees?” The low-fee-fetish on many physician finance sites is good clickbait Continue reading
Nuggets from the Tax Cuts and Jobs Act (TCJA)
My November article speculated on what was coming in the new tax bill and how it would affect us. Of course, the final version tilted the whole structure off its foundation rendering that article into garbage right now. And then the IRS kept tinkering with what expenses are and are not allowed in 2017 – almost down to New Year’s Eve, so December was a chaotic month for tax planning, to say the least. Continue reading
New Rules for 529 Accounts [VIDEO]
TCJA had a gift for those of us who are saving for college using 529 accounts. Michelle talks about new ways you can use those funds and with a quick lesson on all the changes. And what about Coverdell ESAs – are they worth the bother? Continue reading
The Tax Bill: WIIFM (What’s In it for Me?)
The Senate finance committee passed the “Tax Cuts and Jobs Act” and the Senate is due to vote on it after Thanksgiving (2017). This bill is packed with a lot of changes. So, if you’re a physician family and/or a high earner, what’s in it for you? Continue reading
How do I start a budget?
Budgets vary from back-of-the-envelope to the use of simple apps to detailed Excel Continue reading
10 tips to spend less and save more
Around 40% of Americans prioritize saving money for a New Year’s resolution. The second most common goal is Continue reading
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