Hiring a Nanny? Here’s What You Need to Know About the ‘Nanny Tax’
Let's break down the nanny tax, your responsibilities, and how to comply with IRS rules for paying a household employee.
Let's break down the nanny tax, your responsibilities, and how to comply with IRS rules for paying a household employee.
Let's focus on more retirement calculators to help with your planning needs. Plus, we come up with a ranking system to determine the best.
President Trump has signed an executive order making it easier for 401(k)s to include alternative investments and crypto. Is it a good idea?
When you begin investing, you're going to have to start paying more in taxes. Let's go over each type of investment and how it is taxed.
Are you a federally employed physician? Do you work for your state? If so, here are some of your options for disability insurance.
These are all the best ways to make money with passive income. It includes everything from getting dividends to real estate investing.
Answering reader questions about 529 accounts, how to invest them, and how to spend them down. We also discuss ways to help pay for college, and we answer a question about when or if the political climate should ever cause you to change your financial plan.
We have salary data filtered for new attendings. If you’re about to negotiate your first offer, this'll give you a sense of what's possible.
There is a perception that the decumulation years are dramatically more complicated than the accumulation years. That doesn't have to be true.
I have a 403(b). My wife has a 401(k). Let's figure out who has the better retirement account and if it matters for our portfolio.
Is a diversified portfolio overrated? Would a 60/40 portfolio actually be better for you? We talked to three experts to see what they think.
Can't reach your goals because your spouse can't stop spending? Here's what you can do about it (and what you should have done years ago.)
For years, I gave to charity by donating cash. But I've changed my approach to maximize my tax savings while still giving the same amount.
An interview with Dr. Dimitrios Tsatiris, a practicing psychiatrist and author, where we talk about helping docs avoid burnout, why so many physicians are struggling with burnout, and what we can do to take care of ourselves and enjoy long and happy careers.
Too many people are unfamiliar with HSA law, and they don't realize just how many things you can do with an HSA. Let's discuss 13 of them.
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.
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.
As 2024 turns into 2025, let's explore why you should invest, how to invest, and exactly when you should invest.
The passage of the One Big Beautiful Bill Act will affect plenty of doctors when it comes to income, taxes, healthcare, and student loans.
Why are people scared about the decumulation phase in retirement? It has more to do than with how much money they have. Let's explore why.
Learn the basics of real estate investing—from hard money loans to mezzanine debt, capital stacks to waterfalls, depreciation, 1031 exchanges, strategies, and lots more.
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.
Stress is all but guaranteed in the medical profession. But here are some medical specialties that are more stressful than others.
There are LOTS of reasonable budgets. Learn to create one to fit YOUR priorities and values as you use money as a tool to bring happiness.
It was remarkable to discover the difference between aiming for FI and reaching FI. Here are some math and psychological lessons I learned.
How can you access the mental health support you need while protecting your career and livelihood as a doctor? Here are some suggestions.
What are the most unbiased, accurate, high-yielding, current, and entertaining financial books for doctors and other high income professionals? Here you go!
I've done the things that people say they'd do if they didn't have to work—travel, hobbies, time with family. Sometimes, I'm still not happy.
Credit card travel rewards allowed me to take vacations I never dreamed I could. But does the travel hacking math really work in my favor?