Asset Protection – Podcast #54
Today we discuss what you can do to better protect your assets like houses, taxable accounts, real estate, etc. Plus of course answer listener questions about backdoor Roth IRAs, PSLF, marijuana, and cash flow banking.
Today we discuss what you can do to better protect your assets like houses, taxable accounts, real estate, etc. Plus of course answer listener questions about backdoor Roth IRAs, PSLF, marijuana, and cash flow banking.
Many of you are worse than broke with a six-figure NEGATIVE net worth but still think you can live like a rich doctor. Stop being one of the poorest in the world and learn how to "live like a resident" for the quickest way to wealth.
In this episode, we talk about the Tax Cut and Jobs Act pass through deduction plus listener questions.
Does a fellowship make sense for your finances? Do some calculations to determine your return on investment and know if you'll end up ahead financially or in the red.
Impatience is a disease that keeps high-income professionals stressed about finances and running on the treadmill to keep up with their lifestyle. Show some patience and you'll have all the stuff you desire including financial independence.
Medical school may not have taught you about money, but we will.
We will never sell your information. Modify your preferences or unsubscribe at any time.
Get ready to take control of your financial life. You can do this, and we can help.
We won't sell your information. Modify your preferences or unsubscribe at any time.
Don't be confused about the new Tax Cuts and Jobs Act. With so many changes in the tax code for 2018, we're taking on the TCJA again at a slightly simpler level.
Lots of advice here for medical spouses: being married to a doctor while having your own career, finding your identity as a stay at home mom or dad, living like a resident, relationships, and choosing to love your spouse every day.
If you're going to invest in real estate syndications it's essential to do your due diligence before ever signing on the dotted line. It's a lot of work upfront and not for most investors. Here's how to evaluate one successfully.
In this episode, we revisit whole life insurance and discuss some situations in which you may want to buy or keep the policy you were already sold. Plus answer lots of reader questions.
Did my own taxes again, including a corporate return. Lots of lessons learned as usual.
Enroll in WCI Financial Boot Camp, a FREE 12-week email course to improve your financial life.
You can unsubscribe anytime using the link at the bottom of any email.
Health care is expensive stuff so don't pay more for it than you need to. Follow these best practices and reduce your health care costs.
Honored to have financial educator Paul Merriman from Sound Investing today talking risk, market timing, tilting a portfolio, what it takes to be a DIY investor and lots more.
In this guest post, Dr. Joshua Daily highlights the most important financial aspects physicians and other high-income professionals need to consider when going through a divorce.
We've been in every tax bracket and McDonalds used to be a special treat. We certainly NEVER expected to have a seven-figure income. Here's what it's like.
Questions about lifetime limits on 529's, savings for short-term purchases, a cautionary tale about managing student loans and a whole lot more from my inbox.
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.
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.
Medical school may not have taught you about money, but we will.
We will never sell your information. Modify your preferences or unsubscribe at any time.
Get ready to take control of your financial life. You can do this, and we can help.
We won't sell your information. Modify your preferences or unsubscribe at any time.
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.
People 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 big desire to buy a house. But it's a 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.
In broad strokes, asset protection includes tax saving, estate planning, and even investment strategies, and it will help preserve your nest egg in case of a malpractice suit. See Posts
Estate planning is the process to ensure that your assets go where you want after your death, that your desires are carried out after you can no longer make decisions, and that the estate taxes you pay to the government are minimal. See Posts
Whether it's life, disability, auto, home, or malpractice, high-income professionals need insurance to make sure life's biggest costs don't substantially hurt their nest egg. See Posts
There are so many ways to invest successfully that the most important thing is to just pick something reasonable and stick with it. But it's key to know which approach to take and why you're picking that option. See Posts
Beginning your financial journey and learning about personal finance can seem awfully overwhelming. But instead of trying to solve the entire puzzle at once, it'll be easier (for your mind and for your psyche) to break it down into sections that are more easily digestible. See Posts
Ownership matters, whether it's owning profitable companies, owning your own home, or owning your job. Most of the time, medicine is better—for the docs and for the patients—when docs own their jobs. See Posts
A full, happy, comfortable retirement is where so many WCIers have been aiming since they began working. The main questions: what's the best way to get there, and once you arrive, how do you begin to live and fund your new life? See Posts
While it's entirely possible to finish an undergraduate education debt-free, it's become less likely that physicians and other high-income professionals can do the same. That's why it's so important to know how to manage student loans and the programs that provide student loan forgiveness—especially in a political world that constantly makes changes to them. See Posts
Recent studies show that more than 50% of physicians have experienced burnout, marking a notable increase in the past decade. This trend is alarming and shows why the intersection of burnout and how high earners can keep themselves healthy has never been more pertinent. See Posts