Archive For: Retirement Planning

The Pros and Cons of Retirement Protection Riders for Disability Policies

Traditionally, an individual disability insurance policy is designed to pay out benefits to replace lost income if a physician becomes too sick or injured to work in their specialty. When determining their ideal benefit amount, many physicians only take into account their most basic living expenses, such as bills, rent, and groceries. While it is ... Read More
 

What does the SECURE Act mean for physicians?

The new year is bringing major tax changes for some physicians, as the Setting Up Every Community for Retirement Enhancement (SECURE) Act takes effect. The SECURE Act was passed into law in December 2019 as part of the new government spending package, and it contains legislation intended to make retirement planning more accessible, simple, and ... Read More
 

The Ultimate Retirement Planning Checklist for New Physicians

A professional contract review is one of the most essential steps any doctor can take before accepting a new job offer. A physician’s employment contract is worth millions of dollars and typically contains financial complexities and legal nuances that even experienced doctors require a second opinion to evaluate. To fully assess how an employment offer ... 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