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

Association Sponsored Disability Insurance

Posted on: by Chuck Krugh, CFP

I talk to a lot of physicians who are comparing individual disability insurance to a plan offered by their medical association. At first glance, Association Disability Insurance seems to offer physician-friendly, own-occupation coverage at a fraction of the cost of some other types of plans. Is there a catch? After all, if the association offers […]

Posted in: Association Disability Insurance

Financial Tips for Young Doctors

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

We’re always scouring the Web for good articles and studies about doctors and financial tips – and we were particularly pleased to come across this fine piece from Kevin Liu at KevinMD.com. Aiming his advice at young physicians who have just completed residency, or advanced fellowship training, and who are entering the attending physician phase […]

Posted in: Disability Insurance Doctor disability insurance Financial Planning healthcare Life Insurance Long Tem Care Insurance Medical Residents Money Management Physician Money Management physicians disability insurance Practice Management Retirement

Protecting the Small Medical Practice Against Disaster

Posted on: September 7, 2017 by Chuck Krugh, CFP

On top of the terrible human toll on individuals inflicted by disasters such as Hurricane Harvey – currently affecting millions in Texas and Louisiana – disasters take a terrible toll on small businesses as well: According to data from the Federal Emergency Management Agency (FEMA), some 40 percent of all small businesses shuttered by a […]

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

The Most Dangerous Myths About Insurance Coverage

Posted on: August 24, 2017 by Chuck Krugh, CFP

When it comes to insurance coverage, what you don’t know may not kill you – but it can cost an awful lot of money. Unfortunately, there are a number of myths and misconceptions that even very highly educated people have about insurance and what it covers and doesn’t cover. Here are some of the most […]

Posted in: Disability Insurance Financial Planning Group Disability Insurance Money Management Physician Money Management physicians disability insurance Uncategorized