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How to Protect Your Spouse From the Survivor Trap
Last updated: 02/28/2024 Losing a spouse is difficult enough without having to worry about your finances. Will your spouse be able to maintain their current lifestyle? Or will they have to sell assets and dip into retirement accounts to get by? Does your retirement plan protect your spouse against the…
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Should I Pay Off My Mortgage Before I Retire?
Last updated: 02/28/2024 Homeownership generally means having a mortgage looming over you for 15–30 years—an intimidating thought for some. It’s only natural that you want to pay that debt off as quickly as possible, especially if you’re nearing retirement and will no longer be accumulating money with your income. There…
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10 Ways to Reduce Medical School Debt Before, During, and After School
Last updated: 02/28/2024 Higher education is not cheap (and the price continues to climb every year), and medical school is no exception. In fact, the price to become a doctor is comparable to the price of family homes in some U.S. areas. According to Forbes, 55% of students from public…
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How to Protect Yourself From Financial Fraud and Scams
Last updated: 02/28/2024 The Internet has changed almost everything about how we do business, bank, pay bills, and shop. It has also opened a whole world of possibilities for hackers and scammers to take advantage of people and steal identities and money. According to IdentityTheft.org, nearly 33% of Americans have…
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17 Money Mistakes Doctors (and Other High Earners) Make
Last updated: 02/28/2024 Financial missteps from high-earning individuals, like doctors, can be especially costly. Do you struggle to manage your finances or want to improve your money habits? Or are you looking for additional ways to maximize your income and retirement savings? Here are 17 money mistakes doctors and other…
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10 Reasons Physicians Need a Financial Team
Last updated: 02/28/2024 Physicians have complicated financial needs when you consider student loans, cash flow to meet life goals like owning a home and having children, paying taxes, negotiating employment contracts, obtaining the appropriate insurance, saving for retirement, building wealth, and buying into or operating a practice. Physicians are also…
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The 4% Withdrawal Rule in Retirement: Is It a Bad Idea?
Last updated: 02/28/2024 One of retirees’ greatest fears is running out of money.1,2 Some of the key questions as you prepare for retirement are, how much money will I need to retire? Will my money last through my lifetime? How much can I safely withdraw every year so that I…
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Required Minimum Distribution: What It Is and How to Calculate It
Last updated: 02/28/2024 Required minimum distributions are important to your overall income strategy in retirement, but the rules can be complex, especially if you have multiple retirement accounts. Read on for more about what a required minimum distribution is, how to calculate it, and special exceptions for taking an RMD.…
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