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7 Ways For High Income Families To Pay For College
As a physician, you’ve likely spent years paying off your student loans. Now, with your children’s education on the horizon, you’re likely thinking about ways to save for and pay…
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Best Business Credit Cards for Travel & Reward Points in 2024
…balance_transfer_intro_apr,balance_transfer_intro_duration Cash advance APR cash_advance_apr Credit Card Fees Types Description Annual fees annual_fees Balance transfer fees balance_transfer_fees Cash advance fees cash_advance_fee Foreign transaction fees foreign_transaction_fee Late payment fees…
Spend $200K in Retirement and Pay $0 Income Tax
…Dr. B can have a no-tax retirement. In some cases, an early retiree with a net worth in the millions can actually be “paying negative income taxes” or getting a…
8 Physician Side Gigs to Increase Your Earning Potential
…with short notice. Locum Tenens Pay Can be Bested Locum work can be financially rewarding with hard work. But, it may not match the pay of experienced salaried physicians in…
Which Assets Should You Spend First in Retirement?
…Equal Periodic Payments program. This is when you want to raid your retirement accounts before age 59 1/2 without paying the 10% withdrawal penalty. Once you start the program, you…
A Scam Victim Tells His Story: All That Glitters is Not Gold
…payment. I have never used Cash App before but upon researching it I realized that this method of payment would eliminate my security blanket of fraud protection that Facebook PayPal…
Advantages of a Taxable Investing Account
…Microsoft, for instance, didn’t pay out dividends for years. Warren Buffett’s company, Berkshire-Hathaway, also doesn’t pay a dividend. So you don’t pay taxes until you sell. You can defer your…
How to Optimize Inheritance to Your Children
…is not cost-effective to convert too much into a Roth IRA and pay significant taxes now when your heir pays less in taxes later. You can see that they do…
5 Ways to Use Extra Cash Flow
…two most common methods to pay down debt. Many choose the debt snowball method where you pay off your smallest debt first while paying the minimum on others. Once that…
Financial Implications of Leaving a Military Medicine Position
…Additional Special Pay, Variable Special Pay, Board Certified Pay, and Incentive Special Pay. Add it all up. Now, adjust for taxes. This is so personalized, it is hard to apply…
The Pentamillionaire Physician: Your Roadmap to Achieving $5 Million Net Worth
…to make monthly payments of approximately $5,940 to pay off the loan in three years. This would result in a total interest payment of around $33,450. This would require about…
Is Medical School Worth the Cost?
…of residency) after college. That’s at least seven years until you will start receiving actual doctor paychecks that will make a significant dent in paying back those loans. I genuinely…
10 Tax Strategies for High Income Earners: Avoid the Tax Man
…you’re paying too much to the tax man. High-income earners understand that their biggest expense during their lifetime is taxes. No one wants to pay more in taxes than they…
The 4% Rule, HSAs, and Healthcare Costs in Retirement
…you. Today’s post focuses on paying for health care after Medicare kicks in. As we’ve learned here before, Medicare is anything but free, despite being heavily subsidized by you, the…
Top 5 Ways for Physicians to Attack Student Loans
…option, you’ll keep your monthly payment to a small manageable amount. REPAYE pays half of the accrued interest not covered by your monthly payments. Say you have an average interest…
Student Loan Repayment Resources for BIPOC Physicians
…will pay part or all of the leftover interest. PAYE: Pay As You Earn (PAYE) is similar to REPAYE, but has a few differences. While payments are similarly capped at…
14 Reasons Why the White Coat Investor Doesn’t Want You to Retire Early
…a year for 20. For example, a married tax-payer making $100,000 a year and taking the standard deduction pays $9,024 in taxes. The same tax-payer making $200,000 a year pays…
Bilt Rewards Review: A Breakdown of Bilt Rewards Points Value
…payments. Does paying the rent with Bilt build your credit? Renting from Bilt Alliance comes with the convenient option of getting your monthly rent payments automatically reported to credit…
The Brutal Tax Treatment of Widows and Widowers
…pay the taxes. Who? You, your spouse, or your kids? Do you and your spouse want to pay the taxes, or leave them for the kids to pay? What about…
Why Many Doctors Live Paycheck to Paycheck
Happy Saturday! Have you finished your Christmas shopping yet? This tends to be an expensive time of year, but I pray you’re not living paycheck to paycheck. A high-income professional…