Backdoor Roth IRAs are a frequently-discussed topic on physician blogs and social media sites. But most conversations assume you understand basic investing concepts that many novice investors don’t. I’ve written this post as a reference guide for anyone who needs help with the mechanics on how to set up a backdoor Roth IRA. Continue reading
retirement
All About Rebalancing
Financial planning includes financial education. We believe that, for optimal investment results, an investor should commit to a chosen portfolio allocation. We refer to this allocation as a “well diversified, balanced portfolio”. Rebalancing is the process of bringing your portfolio back to the original asset allocations you have set for it. Continue reading
How to Grow Your Roth IRA
In my last Doctor Dilemma, How Should You Allocate Savings?, I discussed a different kind of investment strategy: taxation of withdrawals. Because we recommend allocating ~1/3 of investable assets to Roth accounts, we are regularly asked how that is possible for a high-income professional. Continue reading
How to Rebalance Your Portfolio [VIDEO]
How do you rebalance your accounts? Don’t know how? Follow along as Michelle walks you through the steps we use when rebalancing client accounts in this month’s vlog, then try it yourself! Continue reading
How Should You Allocate Savings?
If you live a reasonably balanced lifestyle, you will, at some point in your lives, find yourselves debt free, 529s funded and accumulating cash. As physicians, particularly in dual-doctor households, you can accomplish this 10 years or so out of Continue reading
DAF’s: A Great Way to Control Your Tax Bill
This year, several of our clients have unexpectedly found they will have significantly more income than normal. From becoming partner to a surprising success with a non-doctor spouse’s startup business to an unplanned buyout of a practice, they have a very happy problem. The problem is, of course, they’ll have significantly more Continue reading
How to Set Up a DAF [VIDEO]
Johanna talks about DAF’s in her blog post this month. If you’re on board but don’t know what to do next, then this vlog is for Continue reading
How to Get to Financial Independence (FI)
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
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
Expense Ratio Exercise: Which Portfolio Wins? [VIDEO]
Fees are a popular discussion on many physician financial blogs and some passive funds have managed to drop expense ratios to under .1%. But how much do expense ratios matter to your long-term fiscal fitness? Continue reading
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