401ks - What's Going to Happen?

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All new 401ks starting in 2025 are going to have to start automatically enrolling participants to contribute at least 3% and automatically increase those contributions 1% to year per year up to 10 to 15%. I think you can still opt out if you don't want to save for retirement. But now it's opt out instead of opt in. In sections 103 and 104, they changed the retirement savers credit to the savers match. And there may be a few residents and medical students that qualify for this. Most people make too much money. The RMD age is going up. It's 72 since original secure act passed. Well, now it's going to be 73 starting in 2023

Today Dr. Dahle walks you through what changes are coming with Secure Act 2.0. He will take you through everything step by step to hopefully make sense of all of the changes for you. He also answers your questions about the backdoor Roth, estate planning, tax loss harvesting and more. If you want to read more about Secure Act 2.0 click the link: https://www.whitecoatinvestor.com/secure-act-2-0/

Getting quality disability and life insurance should be the first financial chore for a doctor to complete. Most docs don't have the ideal policy for their gender, specialty, state, or health status and 1 in 7 doctors get disabled at some point during their career. Because these policies can only be purchased through brokers, we have put together a list of vetted agents who are experienced with working with the specific needs of medical professionals and who have your best interest at heart. If you have questions about insurance and what kind of policies would be the best fit for you, check out our insurance recommended list at https://www.whitecoatinvestor.com/insurance and feel the peace of mind that comes with knowing you have the optimal policy in place. You can do this and The White Coat Investor can help.

The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!

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