I get lots of questions from readers about whether or not they should take advantage of their Roth 401(k) (or 403(b)) option. They’re usually looking for an easy, straightforward answer. Unfortunately, it isn’t that easy. I only have one rule of thumb, and that’s that residents (and military docs) should make Roth contributions and attendings should generally make traditional, tax-advantaged ...

Becoming financially literate means acquiring a very useful body of knowledge. Possessing this body of knowledge is such a rare phenomenon in today’s world that having it, especially when combined with some financial discipline, is like a superpower. When I speak, I frequently demonstrate the importance of financial literacy with a section of the talk entitled “Numbers You Should Know”. ...

Leti and Kenji at SemiRetiredMD ran a post a few months back answering a question I often get, “Can I use a Doctor Loan to Buy an Investment Property?” They correctly answered the question that, in general, you can’t do that. Then they pointed out a handful of ways that one might be able to actually do it and suggested ...

Burnout is a big risk to your finances. Your fastest path to cash is as a board-certified doctor. We want you to be happily practicing medicine for as long as you would like. Our guest in this episode is Dr. Dike Drummond The Happy MD. He has spent the last 20 years coaching and training physicians on the prevention and ...

I woke up early one morning a few months ago worried about a financial situation. It wasn’t my financial situation. It was yours. At least many of yours. And the more I thought about it, the more angry I became. By the time I drug my butt out of bed, I was furious. Truly. I’m mad at everyone in this ...

When I started investing in the last 90s/early 2000s there were no investment apps to take advantage of. I had a Vanguard account, paid gobs of money for trades, and basically kept all my money in various mutual funds. Back then, you didn’t have much of a choice. Trading commissions were expensive and Vanguard let me buy and sell mutual ...

I have a friend who enjoys horse racing. Well, to be precise, I have a friend who enjoys betting on horse races. When we go to Las Vegas, we like to spend an afternoon at a sportsbook. We pool our money and he picks a few races. On any typical trip, we sit down with $100 and leave with $90 ...

[Editor’s Note: Today is the final day to Register for WCICON21 and receive the FREE swag bag ($100 value) that will be mailed to your door! This year’s conference kit includes books from speakers, swag from sponsors, and the first-ever WCI t-shirt (trust me, you’ll love this t-shirt). With speakers like Christine Benz, Allan Roth, and Mike Piper you won’t ...

[Editor’s Note: Register for WCICON21 before Monday, Jan. 11 to receive the FREE swag bag ($100 value) mailed to your door! Our conference kit has always been top-notch (and heavy!) but this year, in addition to receiving books from speakers and sponsor swag, you’ll get the first-ever WCI t-shirt! Join us on March 4-6 for all of the excitement of ...

Physician disability is a complicated type of insurance. This post will give you the “must-know” information to secure the best protection for you and your family. To start, I’ve partnered with Pattern in providing this crash course video. Top 10 Physician Disability Insurance Questions These are the most common questions I get from readers and listeners about physician disability insurance: ...

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