The Doctor’s Life Podcast Episode 042b- Are Taxes Robbing You?

November 14, 2022September 13, 2016 by Justin Nabity

Are Taxes Robbing You?

It’s a good question. You put in the effort to earn your paycheck, and the government wants to say they are taking “their” share. Are they taking more than they should? How will you know and fix it?

Dave Swan is back on The Doctor’s Life Podcast to help you with what to look for if you believe taxes are robbing you and how to take your money back! All episodes of The Doctor’s Life Podcast are available on iTunes, and Android. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

Do Contract Reviews Work?

November 27, 2024September 6, 2016 by Justin Nabity

Contract reviews can be expensive. Do contract reviews work?

We define anticipation as a feeling of excitement about something that is going to happen. Or the act of preparing for something. On average, physicians spend at least 10 years in training and preparing to step into their career. When that day finally comes you’re presented with a 10–30 page document outlining and describing in great detail the minutia of the offer. Read more to learn about contract reviews!

In most cases, comparing the awareness level of what’s actually included in the contract or isn’t included, is a bit lopsided. On one side of the table is the health care organization or practice with their team of attorneys and on the other side of the table is, you. Being presented with the offer usually leads to many different emotions. All in the midst of trying to evaluate the compensation, benefits, implications, ramifications and details of a legal document.

The majority of physicians who interview and then get presented with a job offer and contract usually feel that they either can’t negotiate, shouldn’t negotiate, or that there really aren’t areas for negotiation, that the offer is what it is.

The Doctor’s Life Podcast 042a- Pay off Student Loans First or Save?

November 14, 2022September 5, 2016 by Justin Nabity

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Do you pay off student loans first or is it better to come up with a plan?

Should you pay off student loans first or should you start saving? What’s the right way to pay off student loans?

Justin Nabity is back in The Doctor’s Life Podcast studio to answer these confusing questions. And you might be surprised.

All episodes of The Doctor’s Life Podcast are available here, iTunes, Android, and on SoundCloud. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

The Doctor’s Life Podcast Episode 041- “The Splurgers”

June 27, 2024August 29, 2016 by Justin Nabity

There comes a time in your career where you believe you have enough income to purchase anything and everything you’ve waited on. It might be that car you’ve dreamed about or that vacation home on the lake. And then the bills start coming in. Oops! Nick Schneider is back on The Doctor’s Life Podcast with … Read more

The Doctor’s Life Podcast Episode 040- Should You Get Disability Insurance Without an Exam?

June 27, 2024August 22, 2016 by Justin Nabity

Do you need the disability insurance exam?

You have options when it comes to disability insurance. One of those is if you should take the disability insurance exam or not. What is actually in that medical exam and does it matter?
Justin Nabity is back in The Doctor’s Life Podcast studio to answer these questions. All episodes of The Doctor’s Life Podcast are available on iTunes, Android, and on SoundCloud. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

How Much Money Do You Need to Retire?

June 27, 2024August 19, 2016 by Justin Nabity

“So, how much money do I need to actually retire?”

The question of retirement came up when we were at the American Academy of Ophthalmology conference in Chicago speaking with a group of eye surgeons. The moment it was asked, I was thinking to myself how am I going to give him a simple answer for this because are so many variables that come into play. He was looking for an exact number. For any fee only financial planner out there, we all can share the same sentiment…it’s like where do we begin, which layer do we start with.

Is there a specific dollar amount that has to be achieved in order to be able to make it? You may have heard $3M or $5M or some other number. Well there are two different numbers to consider. There’s the amount you must have saved by retirement and there is the total amount of spending over the course of retirement with the latter being much more significant.

Read more

Mid-Year Tax Changes That Will Help You

August 22, 2022August 16, 2016 by Justin Nabity

Making mid-year tax changes can completely change your outlook for the year

Mid-year tax changes are a great way to make sure you’re even with the government come tax season. Remember, if you get a large refund, you’ve given the government an interest-free loan straight from your pocket!
One of the easiest ways to reduce your household income tax liability is to maximize your contributions to tax-deductible vehicles such as 401k, 403b, 457b plans.

Each of these allow you to put away $18,000 which means you could take a tax deduction of $54,000. How much tax would this save you if you were in the 35% income tax bracket? That would be $18,900. Simply by shifting your income from once place to another can provide that much tax relief.

So what happens to the growth inside of these accounts and the income that you can take in retirement?

The Doctor’s Life Podcast Episode 039- Do You Need a Contract Review?

December 12, 2025August 15, 2016 by Justin Nabity

Are you getting paid what you’re worth? Receiving a contract will always make you a bit excited. Be it your first contract or your 12th in your career, it always elicits some emotion. Maybe it’s that raise you’ve been looking for or a piece of the partnership you’ve been fighting for. The problem is lawyers … Read more

The Doctor’s Life Podcast 038- How Much Money Do You Need to Retire?

June 27, 2024August 8, 2016 by Justin Nabity

Retirement Plan for Doctors

It’s that number we started wondering about years ago- How much money do you need to retire? Is there actually an exact number? And for a doctor, you started in your practice at least ten years after many started their careers.

Justin Nabity is in The Doctor’s Life Podcast studio to see if he can answer the question.

Disability Insurance With an Exam…or Without?

June 27, 2024August 4, 2016 by Justin Nabity

DI Exam

This topic comes up all of the time when doctors are considering the question of, what is the best way to get disability insurance (DI). Does it really matter? Does it affect the cost? How about what they include in the plan? Is there any difference?

First let’s discuss what is a medical DI exam in this setting? Just as with any individually owned insurance, in most cases you have to meet with a nurse where they get your physical measurements, ask your health history questions and usually get a blood and urine sample. A simple physical is really all it is. Insurance companies require this because they are trying to get an idea how they should rate you? Either at the best rates or somewhere down the list.

What are they evaluating in the samples?

Are Taxes Robbing You?

Contract reviews can be expensive. Do contract reviews work?

Do you pay off student loans first or is it better to come up with a plan?

Do you need the disability insurance exam?

“So, how much money do I need to actually retire?”

Making mid-year tax changes can completely change your outlook for the year

Retirement Plan for Doctors

DI Exam

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