5 Reflective Questions to Think Through Every Day || I was thinking about hard questions the other day. You know, those questions people ask you where you can't give a right answer or an automatic answer. And I said to myself, "I have to create a blog post that gives people important questions they … [Read more...]
24 Observations about Physician Finances
This post is a collection of thoughts and observations about the physician finances, based on what I’ve seen over my career working with just physicians. I’m going to simply post the list, without much commentary, as most of the observations will speak for themselves. I hope you like the … [Read more...]
The Impact of Spending Habits on Your Retirement Planning
Spending Habits and Retirement Planning The traditional approach to retirement planning assumes that retirees will maintain their pre-retirement standard of living as they transition into retirement, and then sustain that lifestyle throughout retirement. But a growing base of research that analyzes … [Read more...]
Individual 401(k) Plans: An Overview for Solo Physicians
Individual 401(k) Simply put, an Individual or Solo 401(k) is a retirement account designed for the self-employed, or business owners with no full-time employees, like a solo physician practice. An Individual 401(k) plan offers many of the same benefits of a traditional 401(k) with a few distinct … [Read more...]
SEP IRA vs Solo 401(k)
SEP IRA vs Solo 401(k): Which Should You Choose? How do you multiply your net worth? Let the government help. Here’s how: With both the SEP IRA and the solo 401(k) retirement plans, your investment in your tax-favored retirement creates tax deductions for the money you invest in the plan, grows … [Read more...]
ABCs of Building a Financially Healthy Physician Practice
Building a Financially Healthy Physician Practice As changes continue to occur in the healthcare industry, physicians are taking a hard look at the numbers of a medical practice and gauging whether the year at hand will be economically successful. The ability to analyze the productivity of a … [Read more...]