Managing your student loans properly and minimizing your tax bill are both critical parts of a solid financial plan. Find out if you can deduct student loan interest, how to file taxes with student loans, and if the IRS can take your tax return.
Have you ever experienced stress and anxiety because of student loans? If so, you’re not alone. Here are four strategies to help you get a handle on your student debt.
Learn about what financial tasks to take on first by applying these "waterfalls" for both residents and attendings. Waterfalls are simply lists, or rules of thumb, for knowing what to do with your money, time, and life energy.
Answering listener questions about real estate investing, 457 plans vs. taxable accounts, the Mega Backdoor Roth IRA, and details on the WCI 401(k).
Leaving the world of medicine isn't an easy decision. Here's what my wife and I discussed, including the financial and moral implications.
We're officially announcing the five Grand Prize winners in the Financial category for the WCI Scholarship. Read the essays of the winners here.
We're officially announcing the five Grand Prize winners in the Inspiring Stories category for the WCI Scholarship. Read the essays of the winners here.
Are you afraid of running out of money in retirement? Use these strategies to ensure this does not happen to you.
The federal government has announced new rules for Public Service Loan Forgiveness (PSLF). Here's what they could mean for you.
Discussing the most important coverages for homeowners insurance and what's in our policy. Also answering listener questions regarding if you really need a realtor to buy a house and how much you should spend on a ring, a wedding, and a honeymoon.
There are several types of "own-occupation" policies. You probably need one of them, but which one? True, transitional, or modified? Here's what you need to know.
Do you own your own business? Would you like to cut your tax bill by what could be a significant amount? Here's what you should know about the Qualified Business Income deduction.
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, tax implications, common mistakes, and lots more.
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.