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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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Beware of the Disability Disconnect

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

When it comes to the risk of disability, Americans are woefully underinsured. Disability vastly outpaces the death of a breadwinner among those under age 50 as a leading cause of economic hardship for families. The fact is, most people vastly underestimate their chances of becoming disabled: According to information from the Social Security Administration, about one […]

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Young Doctors Need To Step Up Savings and Financial Planning Efforts

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

The American Medical Association has just released its 2017 Report on Resident Physicians’ Financial Preparedness, and things aren’t looking great. Researchers surveyed over 50,000 residents and got 1,573 responses from residents in a variety of medical specialties from across the country. Nearly two-thirds of residents report being ‘behind’ when it comes to preparing for retirement, […]

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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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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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