A Physician’s Guide to Student Loan Forgiveness

July 3, 2025October 29, 2020 by Justin Nabity

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A Physician’s Guide to Student Loan Forgiveness Each year, thousands of physicians decide to pursue a loan forgiveness or assistance program to ease the burden of their student debt. While the appeal of these programs is obvious, many of the requirements, restrictions, and fine print are not nearly as transparent. For doctors who are counting … Read more

What Physicians Should Know About 457 b Deferred Compensation Plans

October 18, 2022October 12, 2020 by Justin Nabity

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You’re never too young to invest in a sound retirement plan. Most physicians are around 30 by the time they finish training and start practicing medicine. Getting that later start makes it crucial that you start saving for retirement early on in your career.

But with so many investment options and retirement plans to choose from, it can be difficult to determine which one is best.

Most physicians working as employees of large hospital groups will have the opportunity to invest in a 403b or 401k. Many physicians working for governments and tax-exempt organizations will have the opportunity to invest in a 457(b) plan instead.

Not sure how the 457(b) works?

Here’s what physicians should know about 457(b) deferred compensation plans.

3 Ways to Avoid Taxes on Life Insurance Benefits

December 27, 2024October 7, 2020 by Justin Nabity

Veronica Baxter | Boonswang Law Firm As a general rule, they do not tax proceeds from a life insurance policy as income to the recipient. Whether the proceeds take the form of death benefits or Accidental Death & Dismemberment (AD&D) benefits to the insured, the IRS does not consider those proceeds income. Accordingly, three scenarios … Read more

The Complete Guide to Physician Retirement Planning

June 20, 2023October 1, 2020 by Justin Nabity

If you want to enjoy your retirement years, you’ll need to have a savings plan in place. Because doctors are some of the highest-earning Americans, most new physicians assume that saving is easy.

However, that’s not necessarily the case. Unless you establish a solid retirement plan, you might not have enough to support yourself in your golden years. Among every age group of physicians, this is the #1 concern when surveyed according to the 2018 Report on U.S. Physicians’ Financial Preparedness.

Physician retirement planning can be complicated. With so many options to choose from, deciding on how to invest your money can be overwhelming. From 401(k) plans to IRAs and stocks, there are many different ways to save for your future.

Long Term Care Planning for Physicians

June 27, 2024September 11, 2020 by Justin Nabity

In many ways, financial planning is a process designed to help investors deal with the inevitable messiness of life. Such as unforeseen illness, sudden career shifts, unexpected windfalls, and all the difficult decisions that come with these changes. As we age, we all become more likely to develop health conditions that affect our independence, mobility, … Read more

How Much Disability Insurance Do Physicians Need?

August 22, 2023August 28, 2020 by Justin Nabity

Malpractice insurance, auto insurance, health insurance, business insurance, homeowner’s insurance: physicians are required by law to carry various insurance policies. Many other important insurance policies are completely optional.

And one of those optional insurance policies is disability insurance.

Yet as a physician, you shouldn’t think of disability insurance as an option at all. That’s because it’s one of the single best ways to protect your finances and protect your income.

But how much disability insurance do you actually need? When should you get it? Do you need it forever?

Today we’ll be answering the question that many physicians have: how much disability insurance do physicians need?

Education Planning for Your Children

October 21, 2022August 21, 2020 by Justin Nabity

Creating a college fund for children or grandchildren is a common financial goal among physicians. With a 529 plan, you can build up a nest egg for tuition, while also taking advantage of a variety of tax perks. A 529 plan is a tax-advantaged account designated to save for education costs. Also known as “qualified … Read more

Alternative Tax Free Income for Physicians

June 27, 2024July 15, 2020 by Justin Nabity

When is the right time to use a life insurance contract as part of your financial plan? Now, cash-value universal life insurance contracts are an often overlooked investment vehicle that can offer physicians tax-efficient, low-risk wealth accumulation. As you weigh the value of a life insurance contract in comparison to other financial products, it is … Read more

Back to Baseline

July 9, 2025July 14, 2020 by Justin Nabity

Investment Market Update Back to Baseline: July 14, 2020 Stocks rose again this week in light of new economic data. While new cases of Covid-19 have caused some states to begin restricting activities and infection rates seem to be increasing, new encouraging data seemed to win out in markets for the second consecutive week. Manufacturing … Read more

On a Shortened Week

July 9, 2025July 7, 2020 by Justin Nabity

Investment Market Update On a Shortened Week: July 7, 2020 Stocks rose last week in response to encouraging economic data. While new cases of COVID-19 have caused some states to begin restricting activities again, undeniably strong data seemed to win out in markets. Manufacturing, housing, and hiring all returned results beating expectations, propelling equities to … Read more

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