Kyle Claussen, an expert from Resolve, delves into the often-misunderstood world of indemnification clauses in physician contracts, warning of potential pitfalls. He sheds light on how these clauses can unexpectedly transfer liability to doctors. The discussion also covers new TSP fund Roth conversion options for military members, explaining their tax benefits. Lastly, they tackle practical advice on student loan repayment and the financial complexities faced by physicians, emphasizing the importance of smart financial planning.
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volunteer_activism ADVICE
Roth Conversion for TSP
Consider a Roth conversion for tax-exempt TSP funds.
Directly convert tax-exempt combat zone pay to Roth in TSP.
volunteer_activism ADVICE
Roth for Military
Military members should generally utilize Roth options.
Pensions and future higher tax brackets make Roth valuable.
volunteer_activism ADVICE
Consolidating into TSP
Roll over 401(k)s and cash balance plans into the TSP.
Consolidate accounts for easier management and potentially lower costs.
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We start off answering questions from some military docs about the TSP fund now that it allows Roth conversions and contributions. We then talk about indemnification clauses. Dr. Dahle asked our friend Kyle Claussen from Resolve to come on and educate us and answer this question. Indemnification clauses can be problematic for docs and it is worth really understanding them. We wrap up by answering questions about debt pay off. The first is about what happens when you try to make an extra student loan payment, next we talk about the best way to pay off a practice loan and then discuss if it is a good idea and if it is even possible to cash flow your advanced education.
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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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