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Health Savings Accounts (HSAs) are my favorite investment account because of their “triple tax-free” tax treatment. You get a deduction for the contribution, it grows in a tax-sheltered manner like your retirement accounts, and comes out tax-free if you spend the withdrawal on healthcare. Our HSA is the first account we fund each year, and […]
Here’s a question I’ve been asked before: “I know you’ve recommended that attending physicians should spend about 20% of their gross income on retirement. My husband and I have found this very difficult, both early on and now that we’re halfway through our careers. I’m a little embarrassed to say this, but I don’t see […]
![Backdoor Roth IRA Fidelity Tutorial [with Screenshots] | White coat investor](https://i0.wp.com/www.whitecoatinvestor.com/wp-content/uploads/2021/12/How-to-Do-a-Backdoor-Roth-IRA-at-Fidelity-1.png?resize=447%2C367&ssl=1 "Backdoor Roth IRA Fidelity Tutorial [with Screenshots] | White coat investor")
I get a lot of comments and emails from docs, and I spend a fair amount of time on both physician-specific and financial forums. I’m often surprised to see doctors carrying debt that I consider completely unnecessary. Unnecessary debt A car loan The classic example is a car loan. It could be an attending physician […]
Not everyone needs a financial advisor, but for many the value of working with a professional is real – whether it’s optimizing decisions, avoiding costly mistakes, or simply reducing stress and freeing up time. For those who choose to delegate, one question should be central: what is a fair price for quality guidance? Financial planning […]
There are many fraudsters and scammers in this world. A large percentage of them appear to live in Utah County. Or maybe that’s just what it looks like from where I’m sitting. A recent one called himself “The bull,’and there were doctors among his victims. A man named Jeremiah “The Bull” Joseph Evans, the owner […]
The S&P 500 may be one of the best investments of our generation. An investment in the top 500 stocks in the United States gives you broad exposure to the American economy. Over long periods of time, the S&P 500 has historically returned around 10% per year, an impressive result. If you want to buy […]
Real estate is a popular path to financial independence for high-income professionals. And it’s no surprise why: rental properties offer cash flow, appreciation and powerful tax benefits. But here’s the problem: Many doctors miss the full potential of those tax benefits because their CPA never told them about one key strategy. It’s called cost separation. […]
I can’t count how many times, when talking about disability insurance, I’ve heard someone say, “I’m healthy, I don’t need it,” or “My group policy is enough,” or even, “My parents will take care of me.” Others assume that disability is something that only happens to “other people” – until it doesn’t. For high-income professionals, […]
