Airway. Breathing. Circulation. It’s the mantra of emergency medicine. If you had to simplify the entire world of EM, it would boil down to these basic principles. Likewise there is an evidence-based framework for investing, the ABCs if you will, that any savvy physician needs to understand if they are to see beyond the financial industry’s smoke and mirrors.
Last month I discussed the upcoming income tax and Social Security tax changes. As you can see in Table 1 below, you should expect to pay about 10% more in income taxes in a few years. But that’s just one of the tax law changes that will directly affect you in the next two years. Here’s a run-down.
April always starts out great: the weather warms up, baseball season begins, and my kids have spring break. But it turns decidedly sour come April 15th, when I mail my tax returns and realize how little remains after Uncle Sam takes his compulsory share of my labor.
Last month we started the conversation about how to invest wisely during a recession. This month we get specific, from historic “comeback” trends to top recession performers.
2008…what a year. I’m not sure whether to call it a year to remember or a year to forget.
Q. I just started my first job post-residency and have finally received my first “real” paycheck. My friends tell me I should start an IRA or a Roth right away, but they are not physicians. What kind of IRA (if any) would be appropriate for someone in my situation?
Despite slow market trends, it’s still possible to develop a workable retirement strategy. Here are a few ideas to consider.
“There is no cause to worry. The high tide of prosperity will continue.”
-Andrew W. Mellon, Secretary of the Treasury, September 1929 (one month before the Great Crash of 1929)
What are your limits of liability?
Can you be sued for the malpractice of one of your physician extenders? The short answer is yes. However, the answer is not as clear-cut as you might think.
Critical Care: How to stop leaving money on the table