Money Meets Medicine End of Year Financial Tasks
Dec 17, 2025
Justin Harvey, a Certified Financial Planner specializing in physician finances, joins Dr. Jimmy Turner to tackle essential year-end financial checklists. They explore strategies for maximizing retirement contributions and managing tax withholdings, especially during job transitions. Listeners learn about tax loss harvesting, optimizing investment portfolios, and the benefits of donor-advised funds for charitable giving. The duo emphasizes the importance of reviewing insurance and estate planning, ensuring medical professionals finish the year on strong financial footing.
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Max Out And Verify Tax-Advantaged Accounts
- Inventory your tax-advantaged accounts and fund them to your target annual savings number.
- Check pay stubs to confirm 401(k)/403(b)/457 and HSA contributions are occurring as intended before year-end.
Avoid Direct Roths In Final Training Year
- If you're in your last year of training, avoid direct Roth IRA contributions until you confirm year-end income.
- Excess income from attending work can push you over Roth limits and create Form 8606 headaches.
Coordinate Contributions During Job Moves
- If you're transitioning jobs mid-year, coordinate retirement contributions between employers to avoid overcontributing.
- Do the math early so HR caps don't force corrective distributions after year-end.