Jan 30, 2024
The retirement account landscape can be confusing. But maximizing these savings vehicles is so important for ER doctors seeking financial independence. So when the perfect storm of large savings needs meets tax and retirement planning strategies, the mega backdoor Roth strategy may be the tool to get the job done.
On...
Jan 23, 2024
If we polled all ER doctors in America and asked them, “Which do you think would be financially more beneficial to you, being paid as an employee (W-2) or contractor (1099)?” we suspect ~75% or so would respond that they’d rather be classified as an employee. Well, that wish may come true as new regulation is set...
Jan 16, 2024
When we sit back and really analyze the thousands of ER docs we’ve worked with and spoken to over the past 15 years, we’ve pinpointed one specific thing the financially successful have in common. Most would think high income, or even savings rate. While those may be great indicators, even those have flaws. No, this...
Jan 9, 2024
It’s often the case that people are short-sighted with their retirement. The focus is on getting “to retirement” (saving and accumulating), but not necessarily how to get “through retirement.” That has its own layers, such as: How will you acquire money in retirement? From what accounts? In what order? Where...
Jan 2, 2024
A new year carries with it the best intentions for ourselves. From eating right and exercising, to relationships and hobbies, and even finances, we get a clean slate at becoming a better version of our past selves. And where many focus on general areas to improve or specific financial to-do’s, we wanted to come at...