Designing a Good Life for Young Physicians

Posted on: February 28, 2013 by Chuck Krugh, CFP

A common mistake that many new physicians make when their earnings increase is, instead of increasing their savings by the amount of increase, or at least a proportionate amount, they add their pay increase to their lifestyle. Typically, people who don’t have a “purpose” for the next dollars they earn will likely give into the […]

Posted in: Financial Planning Money Management Physician Money Management Retirement

Financial Success for Physicians Begins with a Winning Attitude

Posted on: February 27, 2013 by Chuck Krugh, CFP

You would think that the main thing that separates the financial winners from the losers is money. Obviously, the more money people have, the more things they can buy, but that doesn’t necessarily translate into happiness. Even physicians who make a lot of money can find themselves at its mercy if it controls their lives. […]

Posted in: Financial Planning Money Management Physician Money Management stress management

Obstacles to building Wealth: Not Running the Practice as a Business

Posted on: February 22, 2013 by Chuck Krugh, CFP

The Bureau of Labor Statistic reports that, of the nearly 700,000 physicians currently in practice, one half are in private practice, meaning they’re in business for themselves. But, if you were to ask these sole practitioners how well they run their businesses, the vast majority would concede that they’re not quite sure what running the […]

Posted in: Money Management Physician Money Management Practice Management

Business Overhead Expense: A Real Risk that Needs a Real Solution

Posted on: February 21, 2013 by Chuck Krugh, CFP

Any medical or dental practice that relies on one or two people to generate revenue is especially vulnerable to financial problems in the event of a disability. Disability income benefits are usually sufficient to replace a disabled practitioner’s income, but are typically insufficient when it comes to paying the ongoing expenses of the practice. For […]

Posted in: Disability Insurance Doctor disability insurance physicians disability insurance

What’s the Best Life Insurance for Physicians? Just the Facts Please

Posted on: February 20, 2013 by Chuck Krugh, CFP

With their unique financial needs, and with so much at stake, physicians need to have a thorough understanding of how the two primary forms of life insurance work. All of the various forms of life insurance – whole life, term life, variable life, universal life and the dozens of variations of each – can be […]

Posted in: Financial Planning Life Insurance Physician Money Management

Are HSAs the Secret to Reducing Health Care Costs?

Posted on: February 15, 2013 by Chuck Krugh, CFP

As the uncertainty of the economy and health care reform regulations washes over the business community, many  are considering dropping their health care plans due to the increased cost.  Some employers, however, are proactively searching for alternatives and are finding a very effective one with Health Savings Accounts (HSA). HSAs are a health plan alternative […]

Posted in: healthcare

The Advantages of Owning Life Insurance for Physicians

Posted on: February 10, 2013 by Chuck Krugh, CFP

The purchase of a life insurance policy will never make most physicians’ top ten list of favorite things to do. After all, there is a lot not to like in the whole process of buying life insurance. With hundreds of products from which to choose, it can be confusing. Insurance contracts can be complex and […]

Posted in: Financial Planning Life Insurance Physician Money Management

Physicians May do Better with Return of Premium Life Insurance

Posted on: February 8, 2013 by Chuck Krugh, CFP

Most physicians who buy term insurance are satisfied that they are paying less for their coverage than they would with a permanent life insurance plan. Still, many might feel that, after 20 or 30 years of paying into a policy without ever needing it, is like throwing money down the drain.  Of course, their survivors […]

Posted in: Financial Planning Life Insurance Money Management Physician Money Management Uncategorized

Physicians Should Base Disability Insurance on Reality, not Rules of Thumb

Posted on: February 6, 2013 by Chuck Krugh, CFP

In countless blog posts here we have stressed the importance of understanding the definition of “disability” in choosing a physician’s disability insurance plan. More than any other type of professional, physicians must be able to protect their specific occupation and specialty from the prospect of losing their ability to perform them. And, with a one […]

Posted in: Disability Insurance Doctor disability insurance physicians disability insurance

How to Choose the Right Investment Advisor

Posted on: February 3, 2013 by Chuck Krugh, CFP

With the proliferation of investment and personal finance websites, physicians have access to a boundless number resources and tools once only available to financial professionals. And, while an increasing number of physicians consider themselves to be at least somewhat self-directed in their investment decisions, the ever expanding world of investments and the increasing complexity of […]

Posted in: Financial Planning Money Management Physician Money Management Retirement