How To Use A Credit Card (And What to Look Out For)

Posted on: March 22, 2018 by Chuck Krugh, CFP

First of all, let’s get this out of the way: We know that for the vast majority of cardholders, credit cards are toxic to financial health. Unless you get one of those sweet introductory 0 percent interest deals for nine-months to a year, interest rates on these things are ridiculous. We are advocates of being […]

Posted in: Financial Planning Money Management Physician Money Management Uncategorized

Why Doctors Need Disability Insurance – And Why Workers Comp Isn’t Enough

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

It’s not just us saying it – Doctors should own long term disability insurance. And preferably they should have their own coverage, in addition to whatever coverage they receive from their employers. This is from a recent piece from Medical Economics: “Securing LTD coverage can be complicated, confusing and expensive. But insurance experts, advisers and […]

Posted in: disability claims Disability Insurance Doctor disability insurance physicians disability insurance workers comp

What the Tax Cuts and Jobs Act Means for Doctors

Posted on: February 21, 2018 by Chuck Krugh, CFP

The Tax Cuts and Jobs Act – the sweeping tax reform signed into law in the closing days of 2017, contains a number of tax breaks. The majority of middle class taxpayers will receive a significant tax cut as a result of the law, though a few readers may find themselves with little or no […]

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

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 […]

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