Navigating Finances with Partners and Retirement Planning Strategies

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This chapter highlights the importance of discussing finances with a partner, focusing on disability insurance and backdoor Roth IRAs. It explains the benefits of disability insurance through personal anecdotes and clarifies confusing aspects of backdoor Roth IRA contributions and tax filings, emphasizing compliance with IRS regulations. Additionally, it offers insights on retirement planning strategies such as maximizing tax savings, contributing to a 401k plan, and investing in taxable brokerage accounts when necessary.

Today we spend some time talking about what to do when you and your spouse or partner do not see eye to eye about certain parts of your financial life. It can be extremely difficult when your vision does not align. But it is critical to work through it and get on the same page. We also answer another handful of questions about Roth IRAs, Roth conversions and rollovers, the mega backdoor Roth and more.

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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 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 is for you!

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