Are Social Security Taxes Going Away?

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Congress is going to wait until the last possible moment and play a bunch of political brinksmanship, then they're oing to save social security. For most doctors, that's not going to be the big chunk of your retirement income anyway. If you really think social security is completely going away, as far fetched as that sounds to me, then, ya, gotta work longer or live on less in retirement. You don't get a pass on math. Those are the consequences of not having that guaranteed income source in retirement.

This episode we answer all of your questions about Roth accounts. We talk a lot about retirement accounts and answer questions about Roth 401(k)s, the mega backdoor Roth, Roth conversions, backdoor Roth IRAs, 457 plans, and lump sum investing. We also take a few minutes to discuss inflation and what to do in times like these when inflation is on the rise. Learn more at https://www.whitecoatinvestor.com/inflation-basics/

I estimate that 80% of doctors need, want, and should use a financial advisor and/or an investment manager. Some investment gurus such as Dr. William Bernstein think my estimate is way too low. At any rate, if you want to use an advisor temporarily or for your entire life, there is no reason to feel guilty about it—just make sure you are getting good advice at a fair price. If you need help updating your financial plan or just getting one in place, check out our list of recommended financial advisors at https://www.whitecoatinvestor.com/financial-advisors. 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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