To learn more about these topics or access the previous episode Katherine mentioned, check out these hand selected posts:Roth IRAs for Doctors Podcast: https://mdfinancialadvisors.com/money-minutes-for-doctors/roth-iras-podcast?rq=Roth%20IRA 529 Plans Podcast: https://mdfinancialadvisors.com/money-minutes-for-doctors/529-day-podcast?rq=529SECURE Act 2.0 Article by Josh Lantz: https://mdfinancialadvisors.com/blog/secure-act-2?rq=529%20plan

As we approach Tax Day, it's essential to ensure you've maximized your IRA contributions for 2023, so today we're tackling the intricacies of IRA contributions and tax rules. Let's dive into four crucial rules to consider when funding your IRA and filing taxes.

Welcome back to More Money Minutes for Doctors. Tax Day will be here before we know it! Today's discussion revolves around a topic that promises to ease your future burdens: organizing your 2023 tax-related documents and beyond.

Welcome back to More Money Minutes for Doctors. Today we delve into a crucial topic: determining the minimum effective financial dosage for doctors to achieve lasting financial security. In the realm of financial advice, countless articles offer tips for enhancing your finances. However, just as doctors prescribe the minimum effective dose for patients, should there not be a similar approach for doctors managing their finances? Let’s explore this concept.

Managing personal finances can often take a back seat to a doctor’s demanding schedules. However, overlooking key financial decisions in the early stages of a medical career can lead to long-term setbacks. Today we’re discussing common financial mistakes made by young doctors and offer strategies to avoid them.

For medical professionals navigating the intricacies of finance and retirement planning, understanding the distinctions between retirement account options is crucial. Two popular choices, the Sep IRA and the Solo 401K, present distinctive benefits and considerations. Here, we break down the key elements of each, shedding light on their respective advantages and limitations.

Today Katherine Vessenes is joined by Josh Lantz as they discuss four numbers that are crucial for doctors wanting to retire with money in the bank.

In the landscape of modern medicine, the alarming rise of burnout among physicians has prompted critical discussions about how to sustain your careers and well-being. With the ever-increasing demands of medical practice, doctors find themselves facing unique financial challenges. In this episode, we delve into the insights shared by Katherine and Kristy who sheds light on the financial implications of burnout and offers practical strategies for physicians to embrace a life of abundance and create sustainable financial plans.

Today Josh Lantz is joined by Neil Surgenor, a Physician Loans Specialist at TD Bank, and our topic of conversation is Physician’s Mortgages. Neil is going to tell us about the pros and cons of this doctor-targeted product.

We’ve come here today to ask the questions like, what credit card offers should we avoid, when should we utilize our cards, how do we truly take advantage of the various awards and points schemes available in this wide, plastic world?

We’ve come here today to ask the questions like, what credit card offers should we avoid, when should we utilize our cards, how do we truly take advantage of the various awards and points schemes available in this wide, plastic world?

Election day is fast approaching. As it draws near, there are more and more speculations about what will happen to the markets. This speculation leads to a lot of apprehension and doctors asking, “Katherine, should I take my money out of the market?” The answer is almost always, “no”, and today we’ll discuss why.

Want to start building your investments and planning for retirement? Have no idea where to start the conversation about your personal finances? Well, you’re not alone! Here are the top 10 questions to ask when comparing prospective financial advisors:

We’ve recently touched on down markets, inflation, and how to protect yourself from their effects. While we typically say down markets are a great time to invest in the stock market, we also want to share options on more conservative/stable investment options when the market is anything but. Government bonds are a low-risk way to invest with a consistent, guaranteed interest rate.

In the famous words of Alice Cooper, “school’s out for summer”! Yes, summer vacation is here, and the question is: how are you going to keep your kids from bouncing off the walls for the next three months? This could be the perfect time to teach your kids about money, and the importance of saving. Whether they’re 4 or 16, there’s never a bad time to teach them about the fundamentals of money and savings goals. How do we, as parents, help our children out financially? Of course we can start trusts, 529 plans, or brokerage accounts which helps their financial futures, but what will really impact their future is learning healthy financial habits. It may seem difficult to get this concept across to a child, but the root principle is one they are already learning. All actions and decisions we make have consequences. Spending now might mean you won’t have the freedom to spend in the future.

We can finally let out a sigh of relief as we put tax season 2021 behind us! This means we have plenty of time to prepare for the 2022 tax season, and educate ourselves on the proposed tax changes. As we do every year, we are watching for any changes in federal and state tax law that will affect our doctors in the next year, and impact their retirement.

How will the state of our current geopolitical events impact your investments? It is nearly impossible to avoid the news and the speculation of what will come. While so much is uncertain, one thing we can prepare for is that our economy will most likely feel the effects of global unrest in the for of a market downturn. Today, we’ll cover how we prepare, how we can take advantage of a down market, and share some statistics that might help you get to sleep at night.