In 2019, you will be able to save more in your retirement accounts! The Treasury Department has announced inflation-adjusted figures for retirement accounts for 2019. A lot of these changes will help investors stockpile away more for the eventual retirement. Remember that 2018 IRA contributions can be made until April 15, 2019. Looking at the....
Buying too expensive of a home. This is a problem that radiates through all groups of society. From low to middle class to the ultra-high net worth. Buying a bigger more expensive home, causes additional financial woes. Home insurance premiums rise, heating and cooling bills increase, typical house hold repairs are more expensive, and lastly the mortgage payment....
#1 Lack of Time A lack of time often seems to be the number #1 excuse for doctors mismanaging their finances. Many non-physician spouses may have just as demanding, or more demanding schedules than their doctor partners, but many do not. While my wife is a dentist and was working ridiculous hours during her time....
As I design my life with purpose, I discover that minimizing time spent on chores is a necessity to me, and that includes financial obligations. My family usually goes on about two big vacations a year. This up coming March we are headed to Israel with our church (Emmanuel Community Church) to go on a....
The Knowledge Gap Complexity is the route of evil. The more complex a product or financial strategy is the more it probably favors the the issuer, not the buyer. The knowledge gap handicaps doctors when they go to make financial decisions. Simple financial cliches that most investors know “Don’t Mix Insurance and Investing” and “Buy....
I can’t think of a more boring subject to cover. However, it is the very basic foundation of where we anyone must start. People are hesitant to talk about money, maybe on another post I will actually detail out my personal budget. But I will let you in on some of my personal tips....
Congress passed a technical correction in the last quarter of 2018. We have now thoroughly digested the new law. The good news is that the IRS has begun to issue instructions about how the new deduction works. Typically, the new deduction equals the lesser of 20% of your sole proprietorship profits or of your share....
Determining the true value of a dental practice is an art and science involving various practical considerations. This is really not much different than that of financial planning, mixing art plus evidence based science. One would be hard-pressedto find a subject more confusing than that of dental practice valuation. Written appraisal reports include a standard....
Public Service Loan Forgiveness is a topic that brings about various emotions. For the ones that are going through the grueling 10 year process (120 payments) feelings of anxiety, and worry often top the list. Who can blame them, the PSLF program is understaffed and very unorganized and I mean it is a mess…just like....
I recently was asked to share our families prospective, of our journey of life after dental school and how to choose between corporate dentistry, private practice, or ownership/buyout. I think most soon to be dentists find the glamour of owning their own practice to be the end goal/dream. As with anything, patience is a virtue....