Jim Cevallos: What's the money for? You need to be having a serious philosophical conversation with yourself and a spouse or anybody else involved in this money. If you don't fly first class, your heirs will. Look into causes that you support where your money can make a difference. He says there are four different types of contribution limits; Roth is good for you.
Today we are answering your questions about retirement accounts. This is a topic that comes up a lot from readers and listeners and that is because it can be complicated! Especially when the rules keep changing like they did with the recent Secure Act 2.0. Today we tackle questions about withholding taxes, new rules with the Roth 401(k), maximum allowable contributions to combined retirement accounts, when you should roll your 401(k)s from multiple companies into one account and so much more.
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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