Insights from the Vanguard How America Invests Study
Vanguard looked at the holdings of 5.1 million households with a total of $2 trillion in their accounts. Lots of lessons to take away from the data compiled.
Vanguard looked at the holdings of 5.1 million households with a total of $2 trillion in their accounts. Lots of lessons to take away from the data compiled.
Here's how top physician earners in typically lower-income specialties are killing it and commanding over 2X+ the average.
The high costs of raising children can't be overlooked. Here are a few ideas to prepare for the financial ramifications of raising your kids.
Today we discuss financial priorities for residents. Also answering questions on the mega back door Roth IRA, DFA ETFs vs Vanguard ETFs, getting rid of your whole life insurance policy, Form 8606, and cash balance plans.
Understand how good investing is completely different from gambling and an excellent way to achieve your financial goals.
Save thousands by coordinating your Dependent Care Flex Savings Account and Child and Dependent Care Tax Credit. Learn about changes to these programs in 2021.
Funds are a great way to hold bonds in a portfolio – but which ones should you use? Discussing the best ways you can diversify with bonds.
PoF reduced his total income by more than 50% with a combination of retirement contributions, itemized deductions, and tax credits. His 2019 tax return revealed.
If you are interested in adding a hedge to your portfolio, these are the speculative assets I think you should consider.
What financial items should a new attending prioritize? Also talking asset allocation for 529s, multiple 401k(s), side gigs, cybersecurity, avoiding identity theft, and income recertification for IDR.
Residency is the most complicated time for student loan management. Should you enroll in REPAYE and take advantage of its subsidy, or refinance?
Tax-loss harvesting is useful for most people and can be VERY useful for someone like myself. Calculate how much it could be worth to you.
There are now more options than ever to refinance your student loans while still in residency. Easy payments and less interest accrual is a winning combination for those not going for PSLF.
After much thought, our portfolio is changing this year from one reasonable portfolio to another. We'll see how it goes. Update in a decade.
Here are 8 steps to automate your financial life and help you reach your goals of financial freedom.
Student loans stink. To make matters worse, figuring out what to do with them can seem complicated. Here I present a flowchart that should help clear up the confusion.
Rich people don't "manage" debt. They eliminate it. Not stupidly, but reasonably and consistently. It's a behavioral thing, not a math thing.
Disability insurance is crucial insurance for the vast majority of physicians to secure. Buy it right the first time and you may never have to do it again.
The Roth IRA is a great start for building your nest egg. There's no better vehicle for investing, tax reduction, asset protection, and estate planning.
Peer to Peer Lending (P2PL) is a relatively new asset class I've been investing in for a few years with good success. The risks are high, but the low correlation with the rest of your portfolio coupled with the high returns make it worth looking into.
Bloggers and authors often tell you that you'll be super happy once you're financially independent. They might not know what they're talking about.
New residents have a burning desire to buy a house but it's a huge gamble of your time and money at a period of life when you have little of either.
Don’t make these seven common mistakes that cause doctors to fall short in reaching financial success.
The secret to becoming a wealthy physician is contained in these four words: "Live Like A Resident." Earn like an attending, but spend like a resident to become very wealthy, very fast.
A good investment portfolio is broadly diversified, low-cost, passively managed, rebalanced, and consistent with its owner's risk tolerance.
This Backdoor Roth IRA tutorial takes you step by step through the contribution process including Form 8606 & contributing via Vanguard. Get it done right & avoid costly mistakes.
Every investor needs a written Investment Policy Statement. Here are a few pieces out of mine and ideas for what you ought to consider including in yours.
Financial knowledge isn't enough. Without the X Factor, you'll never reach financial success. Motivation breeds hard work and discipline, which breeds wealth.
Guest blogger Dr. Wise Money explains how REPAYE works and shows how you can decide if it is right for you. The lower your income and the higher your debt, the more likely REPAYE is for you.
One of the pearls Dave has contributed to the personal finance lexicon are his "Baby-Steps." They seem aimed at the financially clueless, but they still have merit for the more knowledgeable.
People take too long to kick Sallie Mae out of the spare room. Here are ten reasons why you should pay off those student loans in 2-5 years.
There are a few important financial chores every busy resident would be foolish to ignore. Get these 6 things done and checked off on your "to-do" list.