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Welcome to the blog!
A repository of articles about things doctors didn't learn in medical school, covering side gigs, finances, the business of medicine, life in medicine, and more. These resources are intended to take a deeper dive into specific topics referenced in our educational pages.
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Transitioning from W2 to 1099 - What Physicians Should Do Before the First Payment Hits
Moving from W-2 to 1099 work? Learn the steps to set up your entity, banking, and tax reserve before your first payment arrives.
How to Decide When to Claim Your Social Security Benefits
What physicians should consider when deciding when to start claiming Social Security benefits, based on health, spousal factors, other assets, taxes, & years worked
How to Choose Where to Invest 'Extra' Money Once You've Maxed Out Tax Advantaged Options
How to decide where to invest extra money, including what investments fit your diversification goals after you’ve maxed out retirement & other tax advantaged options
Potential Tax Benefits of a Small Side Gig (and Whether They’re Worth It for W2 Physicians)
Potential tax benefits of a small 1099 side gig that may make it worth it to claim deductions you would not otherwise be eligible for with your W2 physician income
What to Do Immediately After Someone Dies: A Practical Guide to Short Term Handling of the Estate
A practical guide to the first few financial, legal, and administrative steps to take after a loved one dies, who to notify, and more
Legitimate Ways to Contribute to a Roth IRA for Your Children
Legitimate ways you can fund Roth IRAs on behalf of your children, why it's so valuable, & what types of kids' earnings are & aren't eligible for Roth contributions
What Financial Steps Do I Need to Take if I Plan on Retiring in the Next 5 Years?
Financial steps for physicians planning on retiring in the next five years, including savings, debt reduction, tax planning, asset allocation, & withdrawal strategy
Do Doctors Save Too Much Money? How to Get Comfortable With Spending
When doctors actually save too much money, how to get more comfortable with (responsibly) spending & splurging, & determining when it's ok to let loose financially
Flat Fee vs. Assets Under Management (AUM) Financial Advisor: Which Should You Choose?
How to choose between flat-fee and assets under management (AUM) based financial advisors based on cost & advantages and disadvantages of each model
How Do You Make Money in a Venture Capital Investment?
What has to happen to successfully make money in a venture capital investment, how the VC firm makes money vs how an LP in a fund does, when payouts occur, & risks
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