Retirement 101: Know Your Tax ______ Plans

Retirement 101: Know Your Tax ______ Plans

In my daily conversations with medical colleagues, I often toss around certain terms without explaining them fully - 401k, 403b, 457, IRA, HSA, 529 etc.  The reason why these particular number-letter combinations come up so often is because tax advantaged investment plans are by definition better than regular old taxed investment plans - unless you really like paying taxes.  But even tax advantaged investment plans are not all created equal.  Let's hit the basics and discuss the differences between tax _______ investment plans.

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PMD: How to Defeat Wishful Thinking

PMD: How to Defeat Wishful Thinking

My residency program recently invited Dr. Jay Baker from Duke University to give a talk on mammography.  In addition to being a renowned expert in breast imaging, Dr. Baker happens to also be a fantastic orator.  The entire talk was excellent.  I won't bore you with the details that only a radiologist should know.  However, a portion of the talk that really grabbed my attention was titled "what happens when you break the rules - be careful of wishful thinking" which I will share with you. 

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PMD: Have You Met a Poor Doctor?

PMD: Have You Met a Poor Doctor?

Welcome to another installment of Future Proof posts on Physician's Money Digest (PMD).  There is a lot of pessimism floating around regarding the future of medicine as a career, a lot of which stems from the concern for money.  Guess what?  I like to talk money.  As usual, read the full post at PMD.  An excerpt is provided below.

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PMD: Who is Tom Price, MD?

PMD: Who is Tom Price, MD?

Welcome to another installment of Future Proof posts on Physician's Money Digest (PMD).  The following post was initially slated to post last Thursday.  I opted to delay it for the tragic news last week.  Still I think it's a worth read as the Secretary of HHS will have a powerful voice in our nation's health policies.  As usual, read the full post at PMD.  An excerpt is provided below.

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PMD: Thank you, Dr Wise Money. You will be missed.

PMD: Thank you, Dr Wise Money. You will be missed.

Instead of my usual Thursday post on Physician's Money Digest, I would like to highlight one written by McLarson, MD.  Long time readers of FPMD are familiar with the writings of Dr. Wise Money (DWM).  There is no easy way for me to put this, so please head to PMD - Thank you, Dr Wise Money. You will be missed.

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PMD: 2016 Year End Tax Tune Up

PMD: 2016 Year End Tax Tune Up

Happy Thanksgiving!  And welcome to another installment of Future Proof posts on Physician's Money Digest (PMD).  While you are probably busy planning out your Black Friday spending spree, I would like play buzzkill and get you thinking about savings - from Uncle Sam.  As usual, read the full post at PMD.  An excerpt is included below.

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PMD: Are You Financially Future Proof?

PMD: Are You Financially Future Proof?

"Future Proofing" is the process of anticipating the future and developing products/services that will withstand the demands of that anticipated future.  We all future proof on a daily basis - we eat in anticipation of being hungry, pay the electric bill in anticipation of darkness, bring an umbrella in anticipation of rain, etc.  In fact, one of the biggest shifts in healthcare recently has been all about future proofing - "preventative care."  Here are 5 steps to answer the difficult question - are you financially future proof?

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PMD: Chinese Grandma vs. American Grandma, Which One Are You?

PMD: Chinese Grandma vs. American Grandma, Which One Are You?

Welcome to another installment of Future Proof posts on Physician's Money Digest (PMD).  Today we are featuring a classic from Future Proof archives, edited for PMD readers.  As a Chinese immigrant, I have certain built-in cultural bias towards money management.  Let me share with you a specific one today regarding debt.  As usual, read the full post at PMD.  Or visit the original post here.

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