-
Jan 11, 2024 | 
kevinmd.com | Amanda Xi |Naomi Tweyo Nkinsi |Judy Salz |Amarish Dave
Most of us fall short of making New Year’s resolutions. The reason is simple: unrealistic goals. Negotiation or renegotiation of your physician contract is attainable. Your income is paramount to financial freedom, job satisfaction, and avoiding burnout risk and stress. Hospital or practice employment has increased among physicians. The motivations include financial stability, lower risk, steering clear of managing employees, running a business, and negotiating rates with insurers.
-
Dec 22, 2023 | 
kevinmd.com | Amarish Dave |Leonard Wang |Michele Luckenbaugh |Deborah Courtney
Dividend investing, a strategy centered on generating income through regular dividend payments, holds particular relevance for doctors aiming to build a resilient and diversified financial portfolio. In this guide, we’ll explore the benefits, risks, and tax implications of incorporating dividends into a doctor’s financial strategy. Benefits of dividend investing for doctorsStable income stream.
-
Dec 14, 2023 | 
kevinmd.com | Amarish Dave |Joe Bardinelli |Tod Stillson
Before diving into the allocation strategy, let’s briefly revisit the fundamental differences between Roth and traditional IRAs.Roth IRA: Contributions are made with after-tax dollars, but qualified withdrawals, including earnings, are tax-free. Traditional IRA: Contributions are made with pre-tax dollars, providing an immediate tax deduction. Withdrawals, however, are subject to income tax.
-
Dec 10, 2023 | 
kevinmd.com | Amarish Dave |Janet Tamaren |Michael McGuire |Tod Stillson
As the year comes to an end, it’s time to start thinking about investment allocations for 2024. Many of us own mutual funds. But how do we select the right ones for our goals? Investing in mutual funds is a common strategy for physicians seeking diversification and professional management of their portfolios. However, with a vast array of mutual funds available, selecting the right ones can be a daunting task.
-
Dec 6, 2023 | 
kevinmd.com | Amarish Dave |Christopher Johnson |Allie Poles |Ank Agarwal
Defining tax loss sellingTax loss selling, also known as tax-loss harvesting, is a strategy employed by investors to offset capital gains and reduce their taxable income. This approach involves selling stocks or other securities that have experienced losses to counterbalance capital gains realized throughout the year. By doing so, investors aim to mitigate their tax liability and potentially improve their after-tax returns. Mechanics of tax loss sellingIdentifying losses.
-
Dec 3, 2023 | 
kevinmd.com | Amarish Dave |Sheila Nazarian |Inna Husain |Meeta Shah
As the year draws to a close, it is important that we maximize our opportunities to reduce our taxes. Let’s explore three essential moves that doctors should consider before the tax year concludes to reduce their tax liabilities. 1. Contribute to tax-advantaged retirement accounts. One of the most effective ways for doctors to reduce their taxable income is by contributing to tax-advantaged retirement accounts.
-
Nov 23, 2023 | 
kevinmd.com | Tod Stillson |Brian A. Primack |Jay Wong |Amarish Dave
The medical profession has long been associated with intense personal commitment and time-consuming work. However, in recent years, a new concept called job stacking has emerged, and it is revolutionizing the way physicians work. In this post, I will explore the concept of job stacking for doctors, discuss its benefits, and provide guidance on how to implement it effectively. What is job stacking?
-
Nov 22, 2023 | 
kevinmd.com | Amarish Dave |Cindy Thompson |Austin Perlmutter |Robert Pearl
As the year draws to a close, many doctors receive year-end bonuses. However, with these bonuses come potential tax implications that can impact the overall financial picture. Understanding the tax landscapeBefore diving into strategies, it’s essential to grasp the tax landscape. Different types of income, including bonuses, may be taxed at varying rates. Knowing the tax implications helps doctors make informed decisions. Seek a financial advisor who understands your situation if you are uncertain.
-
Nov 14, 2023 | 
kevinmd.com | Amarish Dave |Sheila Nazarian |Dennis Hursh |Shin Mei Chan
Hiring a financial advisor can be a strategic move to ensure your financial health aligns with your professional success. However, the effectiveness of this partnership depends on asking the right questions. In this article, we’ll explore four essential questions doctors should pose to their financial advisors to pave the way for a secure and prosperous financial future.
-
Nov 10, 2023 | 
kevinmd.com | Amarish Dave |Sophia Zilber |Jonathan Peters |Cindy Thompson
There are two primary methods that stand out for evaluating securities: technical analysis and fundamental analysis. Both approaches offer unique insights into the financial markets, each with its own set of advantages and disadvantages. Understanding the distinctions between these methods can empower investors to make informed decisions about their investment strategies.
