WCI #341: How to Surrender One of Those Nasty Indexed Universal Life Insurance Policies
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Nov 16, 2023
Topics discussed in this podcast include tax implications of partner income, surrendering an indexed universal life insurance policy, affordability of legal services, disability insurance for medical students, analyzing the performance of a total bond market fund, and making wise investment decisions.
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volunteer_activism ADVICE
Multiple 401(k) Rules Explained
If you have multiple 401(k)s from unrelated employers, each can have a separate $66,000 contribution limit in 2023.
Avoid using a SEP IRA for backdoor Roth IRA purposes as it counts against pro-rata rules; a solo 401(k) is better for that.
insights INSIGHT
Good Investing is Boring
Successful investing is typically boring rather than entertaining or fun.
If you're having fun investing, you are probably not making money.
volunteer_activism ADVICE
Retirement Plan Rules for Partners
You cannot form a separate company to open a new retirement plan for income earned from your main job due to discrimination testing rules.
All retirement plans must cover employees of the business paying the income; forming new entities won't circumvent this.
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How to Surrender One of Those Nasty Indexed Universal Life Insurance Policies. Today we are answering your questions on the speakpipe. If you want your question answered leave us a message at https://whitecoatinvestor.com/speakpipe. Today we talk about 401(k)s vs. SEP IRAs, legal insurance, disability insurance, how to surrender an indexed universal life policy 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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