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 […]

Posted in: Disability Insurance Doctor disability insurance Financial Planning Money Management Physician Money Management Retirement

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, […]

Posted in: Financial Planning Money Management Physician Money Management Retirement Uncategorized

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 […]

Posted in: Financial Planning Money Management Physician Money Management Retirement

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 […]

Posted in: Financial Planning Money Management Physician Money Management Retirement

Social Security Disability Benefits Basics

Posted on: January 9, 2016 by Chuck Krugh, CFP

Unexpected disability, whether through injury or illness, can wreak havoc on most family’s finances. The financial toll isn’t limited to the disabled individual’s lost wages (which alone can be a crippling hit for most middle class families where a breadwinner is the one afflicted). The costs can even to friends and family members of the […]

Posted in: Financial Planning Money Management Physician Money Management Retirement

Term Vs. Cash Value Life Insurance: What’s Best For Doctors?

Posted on: December 19, 2015 by Chuck Krugh, CFP

The debate between advocates of permanent cash value life insurance and people who advocate buying nothing but term and investing the difference in premiums is one of the most hotly contested topics in financial services. Sadly, most of the back-and-forth we see out there generates more heat than light. So we thought we’d put some […]

Posted in: Financial Planning Life Insurance Money Management Physician Money Management Retirement

Best States for Doctors

Posted on: June 11, 2015 by Chuck Krugh, CFP

How does your state rank when it comes to opportunities, risk and financial stability specifically for doctors? First of all, let’s think about the things that doctors tend to have in common: Doctors are entrepreneurial. They are either in private practice or would like to have a private practice someday. Many who are W-2 employees […]

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

The Role of Disability Insurance in a Portfolio

Posted on: May 8, 2015 by Chuck Krugh, CFP

Any good financial planner will tell you that the role of disability income insurance is a key asset and makes up part of a solid foundation for any financial plan. A common way of explaining and illustrating a solid financial plan is to imagine a pyramid. The most important components are at the base, and are […]

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

What New Doctors Are Doing Wrong

Posted on: April 9, 2015 by Chuck Krugh, CFP

New doctors are prone to making mistakes – and not just medical mistakes. At least doctors acquire medical malpractice insurance to protect them against medical mistakes! In some ways, the worst mistakes young doctors make aren’t medical mistakes but financial ones. After all, you can buy medical malpractice insurance, but no one will insure you […]

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

The ‘Big Three’ MUST HAVE Insurance Policies To Start With

Posted on: March 11, 2015 by Chuck Krugh, CFP

Writing for the Detroit News, financial planner Barry Glassman identifies the three “must-have” insurance plans for American families: life, disability and long-term care. We concur. If you have a car, the law forces you to buy auto insurance (to protect other people, if not yourself). If you buy a house, the bank will force you […]

Posted in: Disability Insurance Doctor disability insurance Life Insurance Long Tem Care Insurance physicians disability insurance Retirement