Understanding capital gains, losses, and assets are important to your overall financial strategy. Asset appreciation, like from your stocks or real estate, is exciting, especially when you sell for a profit, but don’t forget that Uncle Sam wants his cut, too. What Are Capital Gains and Capital Assets? To discuss capital gains, we must first…

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It’s no secret that doctors have higher-than-average incomes when compared to the average U.S. household (in 2020, the average U.S. household income was $87,864 vs. $243,000 for PCPs and $346,000 for specialists on average). The profession’s risks are also different than most professions. According to a 2017 AMA report, 34% of all physicians have been sued, and 16.8%…

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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 are arguments for both sides of paying off…

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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 high earners can make and how to avoid…

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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 don’t run out of money? Many financial professionals…

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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. What Is a Required Minimum Distribution? Put simply,…

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Your credit score has a significant impact on your ability to meet your financial and other life goals. A good credit score makes life a little easier and more affordable—you’re more likely to get approved for loans with lower interest rates, meaning lower payments and more money in your pocket. Obviously, having a high credit…

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Your credit score has a significant impact on many aspects of your life—your ability to obtain a credit card, mortgage, or other loans, loan interest rates and terms, and sometimes whether you can rent an apartment or how much you’ll pay for a deposit on your lease or other utilities or services. Understanding how credit…

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