"We didn't have any money when they're all born, so their five 20 nines were very small until recently. And now we put in the maximom each year." The idea is that money pays for college, plus any graduate or professional school as much as they can. "In some ways, it's our opportunity to see how they manage money before we arrange for them to receive more money in the form of inheritances later in their lives"
There are potential big changes coming up as a new tax bill is working its way through Congress. While there are sure to be many changes to the proposed bill before it becomes law we wanted to dive into how this bill will affect the WCI community. One of the biggest impacts is that backdoor Roth IRA and mega backdoor Roth IRA accounts could be gone for good. There are proposed changes to income tax brackets and required minimum deduction rules. We look into these changes and many others that could be coming our way.
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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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