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Monday, July 6, 2020

July 15, the new filing date for 2020 is around the corner As the Covid-19 Pandemic spread earlier this year, the federal government delayed the regular April 15th tax filing deadline until July 15th. This decision provided some...

 

Wednesday, July 1, 2020

Investors around the globe are continuing to make investments for reasons other than purely financial gain. Impact investing is an investment approach made with the intention of generating positive social impact AND solid financial...

 

Thursday, June 25, 2020

FICA stands for the Federal Insurance Contributions Act, which is a federal tax that both employees and employers pay throughout the year. FICA includes two types of taxes: Social Security Tax and Medicare tax. The current tax rate for...

 

Tuesday, June 23, 2020

We tend to hear lots of things about government debt, but why don’t we ever hear about government assets? Student loans make up the biggest financial asset held by the federal government, and by an enormous margin. The rapid...

 

Tuesday, June 23, 2020

ACGME data on the just completed academic year by # of On-Duty Residents. Primary care leads the way but probably not enough to meet demand. J-1 visas and the rise in DO programs should help meet some of the PCP demand. By # of...

 

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Friday, June 19, 2020

The new SECURE Act brings changes to long term retirements savings and tax laws for both workers and retirees. As part of a large government spending package signed into law in late 2019, congress laid out provisions from the Setting...

 

Wednesday, June 17, 2020

Transitioning out of residency? Here are five things to consider for this next phase: #1 Cash is King - You have been used to getting paid every month like clockwork but your new job might not start in July or could be based on...

 

Wednesday, June 17, 2020

For the last 20 years I have been delivering a Business of Medicine lecture teaching the next generation of physicians about the basics of financial planning including student loans, contract types, retirement planning, and risk...

 

Monday, June 15, 2020

Without receiving your paycheck, how long would you be able to make your mortgage/rent payment, buy groceries or pay your bills without feeling tight about money? If you’re like most people, it wouldn’t be long: 7 in 10...

 

Monday, June 15, 2020

Let's say you're relatively young, healthy and are interested in saving taxes. A health savings account could be just what the doctor ordered to reduce current tax as well setting aside money for a future need. A health savings account...

 

Wednesday, June 10, 2020

Medical Residents – Before you finish your academic year, now is the time to complete the Employment Certification Form (ECF) if you are pursuing Public Service Loan Forgiveness (PSLF). In order to ensure you’re on the...

 

Wednesday, June 10, 2020

Recent medical school graduates are entering residency with approximately $251,600 1 in loans, which is likely to top $300,000 by the time residency is completed. Developing a plan is one of the most important financial decisions a...

 

Tuesday, June 9, 2020

Lost your Job or Changing Jobs? Know your 401(k) Options If you have recently lost your job or are changing jobs due to the recent coronavirus pandemic, you may be wondering what to do with your 401(k) account. It is important to stay...

 

Thursday, June 4, 2020

Married filing separately rarely makes sense from an income tax perspective when considering student loans, but there is a scenario where it should get a second look. The two popular income driven repayment plans, PAYE (Pay As You Earn...

 

Tuesday, May 26, 2020

Payments from the multi trillion dollar coronavirus relief package have gone out across the United States, and while some Americans are still waiting for their checks to arrive, there are possibly millions of people who have received...

 

Tuesday, April 14, 2020

Recently we have had many discussions with clients about how to help those in need during the Covis-19 crisis. With unemployment spiking and the government response taking more time than we would like, food banks are a much-needed part...

 

Monday, April 13, 2020

While we hope that this economic slowdown will be short-lived, we realize many will have difficulty paying their mortgages. Fortunately the Department of Housing and Urban Development(HUB) has implemented a temporary moratorium on...

 

Wednesday, February 26, 2020

If you’re following the news, you already know that financial markets across the globe have experienced increased volatility over the last several weeks, and particularly in the last several days. This bumpy performance is driven...

 

Monday, November 11, 2019

For anyone pursuing federal loan forgiveness, you should access your federal loan file with the Department of Education. Surprisingly it comes as a text file and contains a history of all federal loans including months counted towards...

 

Monday, September 30, 2019

If you are reading this entry there's a good chance you have attended one of my Business of Medicine lectures in the past. While the rest of this year is booked, there are few available times before the June graduation. The topics we...

 

Tuesday, July 9, 2019

It has been 15 years since I was studying for the CFP exam that I have been buried in textbooks. I just completed the Certified Divorce Financial Analyst designation. Why? Recently I had received several referrals from estate planning...

 

Wednesday, September 12, 2018

Today's graduating resident or fellow faces a daunting challenge of managing an average of $157,944 in student loan debt according to the College Board, with saving for a down payment on a home. In today's lending world a minimum 20%...

 

Wednesday, September 12, 2018

One of the most difficult analysis that a financial advisors can be asked to make is whether a client should take a lump sum or a monthly pension. Most pensions are covered by the Pension Benefit Guaranty Corp. (PBGC) which aims to...

 

Wednesday, September 12, 2018

In July, MSCI the creator of many popular indices created two new indices that invest globally while excluding Russian companies. This highlights the difficult nature of an index fund which includes multiple countries. In a global...

 

Wednesday, September 12, 2018

In California where my office is located, same sex couples have the same rights to Social Security Benefits as any other married couple. With this new benefit available, which claiming strategy is best? Opposite sex couples may have...

 

Wednesday, September 12, 2018

A recent report by Forbes mapped out the worlds billionaires. This exclusive club has 1,587 members of which 512 are in the US and Canada. Asia has grown to #2 with 403 and Europe third with 343. Latin America, Russia, and other...

 

Wednesday, September 12, 2018

Writing from 30,000 feet on my way home from Nashville I wanted to share an interesting observation. There are a noticeable amount of Egyptians in Music City. Time and time again at my hotel, I would see a name tag and it would give...

 

Wednesday, September 12, 2018

With approximately half the stock market value being concentrated in the US, it is no surprise that we Americans tend to invest the majority of our assets in our home country. This is called "home country bias" and occurs in most...

 

Wednesday, September 12, 2018

Today Scotish nationalists are asking their voting population(as young as 16 years old) to vote for separation from England. While I don't normally chime in with my political opinion I think it is rather obvious what a destabilizing...

 

Wednesday, September 12, 2018

The consolidation of hospitals owning private physician practices is not showing a reduction in the price and actually increased costs for the privately insured according to researchers at Stanford University(2001-2007). There is a...

 

Wednesday, September 12, 2018

The Conrad 30 program, named for Sen. Kent Conrad of North Dakota is meant to address physician's shortages in primary care in rural and urban areas by granting visa waivers. There are many parallels to the technology industry where...

 

Wednesday, September 12, 2018

In reflecting on the last two weeks in the market which have been quite volatile, we are reminded how much uncertainty there is in the world. At the beginning of the season the Royals were about a 50 to 1 shot to win the World Series...

 

Wednesday, September 12, 2018

There are several income producing strategies that can be used in combination with the underlying investments. There is no guarantee any of these strategies will be successful. Speak with a financial professional to determine which...

 

Wednesday, September 12, 2018

There are several risks to consider when developing a plan for managing your assets in retirement. Not all people will have equal exposure to these risks, yet it is important to keep these risks in mind when developing a retirement...

 

Wednesday, September 12, 2018

We are entering the season when parents of college age parents start completing the FAFSA form with the hope of catching a small amount of money from the murky pond of financial .aid. This is no small task with over 100 inputs.(105 to...

 

Wednesday, September 12, 2018

As I write this, the chairwoman of the Federal Reserve is speaking on policy and painfully answering the partisan questions of the Senators in front of her. The dual mandate of the Federal Reserve is to encourage full employment in the...

 

Wednesday, September 12, 2018

In the unfortunate circumstance where your 18-year-old child who you have groomed to go to college decides to take a shot at being in a band instead of attending your alma mater what you do with their 529 plan? You can of course...

 

Wednesday, September 12, 2018

We often think about putting our houses in the trust or providing a safety deposit box key to a loved one but who will handle your digital assets after death. To name a legacy contacts at Facebook, go to your security settings and edit...

 

Wednesday, September 12, 2018

I can't even remember one gift I got for my 12th birthday but I have vivid memories of what I did. My parents had some semi pro skaters that I am sure could use some spending cash stop by for a demonstration for me and my friends. All...

 

Wednesday, September 12, 2018

Did you remember that the home equity life of credit you took out before the hosing market imploded was set to amortize in ten years instead of the current interest only requirement? No? Well you are not alone. According to Equifax and...

 

Wednesday, September 12, 2018

The difference between socially responsible and impacting investing at first was lost on me. Socially responsible investments are often difficult to define as investors often have different values and beliefs so one investment that is...

 

Wednesday, September 12, 2018

If you don't know the term cap rate, consider yourself a real estate beginner. A basic way of measuring the profitability and price of a property is through a term called cap rate. It is basically dividing the annual income produced by...

 

Wednesday, September 12, 2018

I finally took the plunge and decided to install solar on my house. Panels are continually improving but I figured they had advanced dramatically and future improvements would be more incremental in terms of the efficiency. As a...

 

Wednesday, September 12, 2018

Group long-term disability provided by your employer is a helpful benefit but this post will point out key differences. Ownership - coverage is individually owned as opposed to being leased from employerRates and renewal - typically...

 

Wednesday, September 12, 2018

When we create retirement income models, often the response when mentioning Social Security is something like "if it still exists." While we don't believe those in or close to retirement will see any reduction, there have been...

 

Wednesday, September 12, 2018

There are a host of sites offering free credit reports. While these companies for a fee will give you access to your credit report and monitor changes, if you just want access to the report the website set up by the three providers www...