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Hidden “Own-Occupation” Traps in Physician Disability Insurance

When it comes to disability coverage, beware the fine print. The difference between “own-occupation” and “any-occupation” coverage is one of the most important distinctions in physician disability insurance. True own-occupation coverage provides doctors with essential income protection, while lesser policies can leave physicians exposed to extreme financial risk in the event of a disability. Own-occupation ... Read More
 

Physician Tax Planning and Investment Vehicles

It is essential for new physicians to understand the structures and tax-advantages of different employer-offered retirement plans. When you sign the employment contract for your first attending position, your financial situation can transform dramatically overnight. Along with a substantial raise, you can expect a considerable increase to your tax burden. To evaluate an employer’s retirement ... Read More
 

Why Relying On Your Employer-Sponsored Disability Plan Can Hurt You

Remember to keep group long-term disability insurance that is provided by an employer and/or association as your secondary plan, not primary. It happens all of the time. Physicians get lost in the Disability Insurance Maze because of misunderstandings about what is written in the fine print of disability insurance contracts whether they are group or ... Read More
 

Choosing the Right Executor for Your Estate

When it comes to estate planning, most physicians are familiar with the importance of establishing a legal will. However, many doctors overlook another key aspect of estate planning: choosing an executor for your estate. An executor is the person legally responsible for fulfilling the deceased’s financial obligations and for overseeing the distribution of assets according ... Read More
 

Physician Contract Review Focus: Exiting a Contract

Don’t let the fine print fool you– Right to Terminate clauses can have a serious impact on a physician’s career.  Consider the following scenario: You move to a new state to begin an exciting new position. While the job sounds great during recruitment, the contract doesn’t include details about call hours, productivity expectations, or bonus ... Read More
 

7 Alternative Jobs for Physicians

Are you burnt out from years of working long hours? Do you want to step away from clinical practice? You’re not alone. Many doctors suffer from burnout. After all, practicing medicine is demanding work. It certainly doesn’t have the best work-life balance of any career out there. A lot of physicians come to a point ... Read More
 

The Physician’s Guide to Backdoor Roth IRAs

It’s never too early to start planning for retirement. As a physician, you endure more years of school and training than folks in almost any other profession. That means that by the time you start working, you’re already behind in terms of retirement savings. So how do you catch up? What’s the best way to ... Read More