Details Matter: Doctors Should Own Their Own “Own Occupation” Disability Insurance.

Posted on: February 8, 2018 by Chuck Krugh, CFP

When it comes to protecting your income against the risk of injury or disability, having the right policy matters. As a physician, chances are good that your ability to earn an income hinges on your physical ability to do things like these: Remain on your feet for much of the day. Retain excellent manual dexterity. […]

Posted in: Disability Insurance Doctor disability insurance physicians disability insurance Uncategorized

Doctors: Don’t Count on Uncle Sam if You’re Disabled

Posted on: January 23, 2018 by Chuck Krugh, CFP

If you’re ever disabled, don’t be relying on the federal government for help. Federal disability benefits were never intended to cover more than very basic needs. The average Social Security Disability benefit is just $1,173 per month. And now it’s taking even longer to get approved. In prior years, it generally took an average of […]

Posted in: Disability Insurance Doctor disability insurance Financial Planning Life Insurance physicians disability insurance

Estate Planning Basics for Young Doctors

Posted on: January 9, 2018 by Chuck Krugh, CFP

As much as none of us want to admit it, we’re all going to check out one of these days. The time to lay the groundwork for our eventual deaths is now. Accident, illness or violent crime can strike any of us at any time. Most of these steps for estate planning have to be […]

Posted in: Financial Planning Money Management Physician Money Management Retirement

I have a pre-existing condition. Can I still get disability insurance?

Posted on: December 20, 2017 by Chuck Krugh, CFP

Disability insurance isn’t like major medical insurance post-Obamacare. While major medical carriers have to take all comers, regardless of their medical history (provided they apply during an open enrollment or special enrollment period), disability insurance is still medically underwritten. That means applicants must generally submit to a medical exam and a health records check for […]

Posted in: Disability Insurance Doctor disability insurance healthcare

Year-end Tax Tips for Doctors and Dentists

Posted on: December 6, 2017 by Chuck Krugh, CFP

November is upon us, and that means it’s time to make your end-of-year tax moves to make sure you minimize your overall business, income and capital gains tax liability, while maximizing your personal and business cash flow. Maximize retirement plan contributions. While you have until next April to make contributions to an IRA, you have […]

Posted in: Financial Planning Money Management Physician Money Management Retirement

Study: Doctors Get Paid Best in Rural Areas and Lower-Cost Cities

Posted on: November 21, 2017 by Chuck Krugh, CFP

“I’d be a bum on the street with a tin cup if markets were efficient.” – Warren Buffett Doctors aren’t commodities – and neither are the markets they work in. That’s why there are big differences in compensation, even within the same city and within the same specialty. A recent survey from Doximity uncovered significant […]

Posted in: Financial Planning Money Management Physician Money Management Practice Management

Court Ruling Underscores Importance of Disability Insurance Protection for Women of Childbearing Age

Posted on: November 8, 2017 by Chuck Krugh, CFP

A recent court case underscores the importance of owning personal disability income insurance for women of childbearing age. A young woman in Florida was just a few weeks into a healthy pregnancy and purchased disability insurance from Reliance Standard. 38 weeks into her pregnancy, however, she had to be admitted to the hospital, complaining of […]

Posted in: disability claims Disability Insurance physicians disability insurance

Study – Young Physicians Don’t Know Much About Money

Posted on: October 23, 2017 by Chuck Krugh, CFP

Unlike the great singer Sam Cooke, young doctors actually do know a lot about biology and the science book. Some of them even know something about the French they took. But they don’t know much about money. That’s not just us talking. That’s the result of a study recently published in the International Journal of […]

Posted in: Financial Planning Medical Residents Money Management Physician Money Management Practice Management Retirement Uncategorized

What If You Lose a Partner or Key Person?

Posted on: October 10, 2017 by Chuck Krugh, CFP

This could happen to you: You are a successful physician in private practice, living your dream. You have a terrific bunch of partners, and a skilled and diligent office manager who keeps the whole practice humming along. But early one morning you get a call from distraught family member: There’s been an accident. Your key […]

Posted in: Disability Insurance Doctor disability insurance Financial Planning physicians disability insurance Practice Management

What You Need to Know About Group Disability Insurance

Posted on: September 29, 2017 by Chuck Krugh, CFP

Many employers provide group disability insurance to their employees. While employer provided disability insurance is a great first layer of income protection, there are some important drawbacks to be aware of. Let’s start out with the benefits of group disability insurance: Getting group disability insurance is easy All you have to do to qualify for […]

Posted in: Group Disability Insurance