People often ask me for practical advice on getting started with investing. Given the fact that many people have just transitioned to new jobs, I thought I’d give you my approach to figuring all of this stuff out through a technique I like to call Waterfall Investing. However, before I can answer that, we must … Read more
Whenever I tell people outside of medicine how bad doctors are with money, they are always shocked. Almost universally they wonder why we don’t save enough money. They understand that – in order to become a doctor – you must be hard working, intelligent, and dedicated to the cause. These are the same attributes – when they are applied correctly – that result in financial success. How in the world can doctors be bad with money, then?
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”
Recently, I published a post discussing the most recent Medscape burnout & depression survey results for physicians. An interesting point of discussion was that many physicians felt that if they made more money, they would likely be happier. Today, we will discuss the implications of this thought process and if there is evidence to support … Read more