Financial Management
Key elements to consider when buying equipment for your medical practice
As medical technology quickly evolves, practices in nearly all areas of medicine must frequently evaluate equipment upgrades and new purchases of new technology to stay at the forefront of patient care.
Tax-advantaged investing: Where to put your next dollar
As your paycheck grows, so does your discretionary spending and saving. While it is easy to spend, it is not always clear where to invest your next dollar intended for future spending.
Three steps to find your way toward retirement
“I wanted to have more time to play and reflect, but I find retirement more stressful than having a nice, steady job because I have to make decisions about where I want to be.”
What physicians need to know about Federal Trade Commission noncompete ban
The Federal Trade Commission proposal to ban noncompete clauses for all workers has sent powerful ripples through the health care industry, prompting physicians of all specialties to reevaluate their career trajectories.
Student loans: Let’s talk about SAVE
The Savings on a Valuable Education (SAVE) plan was introduced in 2023 by the Biden Administration and replaces the Revised Pay As You Earn (REPAYE) program. SAVE continues to evolve with new benefits for student loan borrowers.
Use pro forma analysis to make better practice decisions
“The only function of economic forecasting is to make astrology look respectable.”
Disability insurance protects against financial demise
Like many sports, such as soccer and basketball, financial independence requires simultaneous offense and defense. One of the most important defensive plays a physician must make is buying disability insurance.
Protect a physician’s most valuable asset with disability insurance
Given the substantial investment to become a practicing physician, it should not be surprising that the most significant asset of most physicians is their ability to practice their profession.
Building wealth: Take these initial steps post-training
The concept of delayed gratification has been ingrained in us throughout medical school and residency. This mentality can sometimes lead to explosive spending as an attending when one enjoys a significant salary boost.
How to determine whether to go it alone or hire an advisor to handle wealth management
One of the most important questions orthopedists will need to answer is whether they will hire a financial advisor to help them manage their wealth or do it themselves.