Doctors: When to Review Your Disability Insurance Coverage

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

Disability insurance is like a good car: It will work when you need it – but you need to do a little maintenance from time to time to get the most out of it. For disability insurance policyholders, maintaining your policy means doing a periodic review of the policy with your insurance professional and ensuring […]

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Disability Among Medical Students Up To 9 Times Higher Than Previously Believed – And What It Means To Employers

Posted on: March 13, 2017 by Chuck Krugh, CFP

Recent research from the Journal of the American Medical Association (JAMA) indicates that there are far more people making it through medical school with disabilities than we imagined. Indeed, the number of students with disabilities of various sorts going through medical school may be as much as nine times what we believed previously. Researchers polled […]

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Disability Insurance and Medical Specialties

Posted on: February 19, 2017 by Chuck Krugh, CFP

Most physicians who have spent time shopping around for disability income insurance, or actively doing financial planning for themselves and their families, understand the importance of the distinction between own occupation and any occupation language in disability insurance policies. Naturally, a disability policy that covers you against injuries and illnesses that prevent you from working […]

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Top Trends in 2017 For Physicians to Watch

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

2017 promises to be a volatile and challenging year for the health care industry as a whole. President-Elect Trump is likely to push Congress to make significant changes to the way health insurance is marketed and sold, and doctors are going to be in the middle of it. Smart physicians need to be very agile […]

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New Years Resolutions for Doctors

Posted on: January 12, 2017 by Chuck Krugh, CFP

The New Year is traditionally a time to act on plans for self-improvement. Millions of Americans will be working to lose weight, to achieve success at work, improve their 2 mile run time, or to achieve a variety of financial and personal goals. Here are some great New Year’s resolutions for doctors to consider: Go […]

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6 Investing Mistakes Doctors Make Too Often

Posted on: December 27, 2016 by Chuck Krugh, CFP

For a bunch of smart people, doctors are notorious for being bad investors. But bad investment decisions are preventable. Understanding the common mistakes physicians make when it comes to investing their money can pay big dividends in the future. Failure to start early. Yes, physicians enter their careers with a lot of debt to pay […]

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Residents – What They Earn and What They Owe, Nationwide

Posted on: September 27, 2016 by Chuck Krugh, CFP

The average salary for residents for 2016 was essentially unchanged compared to the prior year, at $56,500, according to the recently-released Medscape Residents Salary  & Debt Report 2016. That represents an increase of $100 per year, which is well within the margin of error. Naturally, some specialties out-earned others, and just about everybody out-earned emergency […]

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Young Doctors: Run – Don’t Walk – To Fund A Roth IRA

Posted on: September 7, 2016 by Chuck Krugh, CFP

Young physicians – especially those about to enter residency or still in residency, have a unique tax planning opportunity that’s almost unmatched by any other profession: The opportunity to contribute to a Roth IRA (or Roth 401(k)) while earning an income far, far below their likely income brackets in retirement. And that’s why the Roth […]

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The New Doctors’ Financial Planning Checklist

Posted on: July 26, 2016 by Chuck Krugh, CFP

Congratulations on becoming a physician! You’re going to help a lot of people, potentially save a lot of lives, and in the process, make a good deal of money. The total lifetime earnings of a physician easily amounts to upwards of $7 to $10 million and sometimes more, over the course of a successful career […]

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What To Look For in a Doctor’s Disability Insurance Policy

Posted on: July 11, 2016 by Chuck Krugh, CFP

1.) An ‘own occupation’ definition of disability. Most doctors are pretty active. If you’re like most doctors, you’re on your feet for much of the day. Surgical specialties and emergency medicine may require more activity than others, but few doctors are very sedentary in their practices. Furthermore, the vast majority of physicians could not quickly […]

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