The Worker Tax Penalty
If we tax what we want less of, then it would appear that we want people to stop working and retire as soon as possible. One little understood effect of our tax system is that it redistributes income from workers to retirees.
If we tax what we want less of, then it would appear that we want people to stop working and retire as soon as possible. One little understood effect of our tax system is that it redistributes income from workers to retirees.
It doesn't matter if you're investing in stocks or real estate, it's important to diversify your portfolio to reduce exposure to market risk.
Are you making mistakes that are lowering your investment return? Stop leaving money on the table and consider these steps to make more on your investments.
Interviewing a resident today talking cashflow/budgeting, W-4s, retirement accounts when going for PSLF, student loan management, dual income DI, and more.
Owning a medical practice can be a complicated dream. Here are 7 key steps to evaluating, marketing, and funding a successful startup.
Think twice before passing up the tax break of a 401K. Here I quantify the benefits of tax-deferred, tax-free growth to see how much a 401k is really worth.
People know that "bonds go down when interest rates go up" but they're missing the full message. Here are 6 lessons to learn about bonds and interest rates.
Have you made bad decisions with money based on untrue financial advice? TPP dispells 5 myths that commonly derail doctors from achieving financial success.
Being short is a part of my identity, and it’s a descriptor that extends past my height. I enter medical school because I have been short my entire life, and it has given me everything.
Find out if you can take advantage of contributing after-tax dollars in your 401k via the mega backdoor Roth IRA. Also talking using margin in a portfolio, the index fund "bubble" and more.
My dad has worked at convenience stores, factories, restaurants, and anything to pay the bills. Enough is enough. You’ve done more than anyone I know. It’s time to take a break.
Deafness will always be a part of my life, but I refuse to let it define me. After all, if a boy who had to fight for every word can become a skilled physician, all things are surely possible.
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.
Doctors are busy. Luckily, you don't have to spend much time on financial chores compared to what was needed in the past. Nearly every step can be automated. 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 a key type of insurance for the vast majority of physicians and other high-income professionals. Buy it right the first time and you may never have to do it again.
Roth IRAs have a lot of advantages with regards to 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.
Graduating medical students (and especially their spouses) have a burning desire to buy a house to feel like they've finally made it. If they're smart, they'll curb it. Buying a house in residency is 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." If you're earning like an attending, but spending like a resident, you will become very wealthy, very fast.
A good portfolio is broadly diversified, low-cost, passively managed, regularly rebalanced, and consistent with its owner's need, ability, and desire to take risk.
This Backdoor Roth IRA tutorial takes you step by step through the contribution process including how to fill out IRS Form 8606. We'll show you how to get it done right and avoid mistakes that can cost you time and money.
Every investor should have 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 in turn breed 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.
Residents are busy folks. Their time is consumed with clinical work, clinical learning, and sleep. What extra time they have should be spent with their loved ones and on other activities that keep t...
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