What Physicians Should Know About 457 b Deferred Compensation Plans

What Physicians Should Know About 457 b Deferred Compensation Plans

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 […]

The Complete Guide to Physician Retirement Planning

Physicians discussing retirement planning

  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 […]

Long Term Care Planning for Physicians

Dermatology subspecialty salaries

Long Term Care Planning for Physicians In many ways, financial planning is a process designed to help investors deal with the inevitable messiness of life: 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 […]

Life Insurance for Retirement: The Right (and Wrong) Approach

How to Prepare for the End of Long Term Disability Benefits Ahead of Time

In order to pursue a career in medicine, physicians make tremendous personal and financial sacrifices. With the average medical resident facing nearly $200,000 in debt, it is no wonder that most young physicians feel tremendous pressure to start earning quickly and establish financial independence. As many doctors are busy establishing their career, starting a family, […]

The Pros and Cons of Retirement Protection Riders for Disability Policies

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 […]

What does the SECURE Act mean for physicians?

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 […]

The Ultimate Retirement Planning Checklist for New Physicians

Everything You Need to Know About Physician Contract Review

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 […]

Your Comprehensive Review of the ADP 401k

ADP 401k review

As a physician operating a small practice, it’s important to provide your employees with the benefits they deserve. One of the most desirable benefits is a sound retirement plan. The ADP 401k plan is a well-known option, in part because it’s one of the largest providers offered by a national leader in payroll and retirement […]