Investing in your 401K/403B is a straight-forward decision, even if you are loaded up with debt. A much more complicated question to answer is whether you should contribute to your company’s deferred compensation 457 plan. Today’s post will answer the question, “Should I invest in my 457?” The What, when, and why.
Many people have enjoyed the successes (and more often the failures) of investing in individual stocks. If you have ever wondered if you should invest in individual stocks, this post is for you. And, if you currently do this sort of thing, I might call you a loser in this post. Read it at your own peril.
The Alternative Minimum Tax (AMT) is an archaic tax law that was originally intended to make sure that high income earners were “paying their fair share.” As if the tax law was not complicated enough, the tax law experts thought it necessary to not only calculate your taxes once, but twice. The first time it is calculated through the regular methods (brackets, etc) and the second time through the AMT. Whichever is higher is the tax you pay. So, today we will answer the question “Will I pay the AMT”
The Pareto Principle can be stated many ways, but the premise is that 20% of the work will get you 80% of the results. Investing advice for doctors is no different. It may seem complicated, but with a little knowledge about what falls into the 20% doctors need to know about personal finance it doesn’t … Read more
In The Physician Philosopher’s Guide to Personal Finance, one of the chapters is on conflict of interest. Why? Because conflicted financial advice is one of the biggest reasons that physicians make financial mistakes. In the process of writing that chapter, I had the opportunity to hear a WCI podcast episode. In this episode, he interviews … Read more