Never was I used to having money to invest; it seemed like I always found a way to make income equal expenses.  Such was the life of the young, naive 20-something-year-old who had no idea how to build assets. Going into my 30s, I began to read more, study more, and inquire more when it came to finances.  This led me to finally figure out what this investing thing was all ...

Read more...

The recently passed Tax Cuts and Jobs Act is controversial, to say the least. However you feel about it though, the fact is it’s here to stay, affecting everyone by 2018. However, in looking at our own situation as a two physician couple (purely from the medical income standpoint), at first glance, it seems as though our taxes would actually go up. In addition, if it’s going up for us, it surely ...

Read more...

When I described my drawdown strategy in early retirement, I stated we will “sell from the taxable account first.” I also plan to collect quarterly dividends from my index funds, but if Vanguard were Burger King and I could have it my way, I’d hold the dividends and take bites out of my account only as needed. When I discuss the downsides of dividends, note that I am ...

Read more...

When you browse finance-related websites, it doesn’t take long for you to see ads that claim that they can help you make money, fast.

“I’VE BEEN ABLE TO WIN ON 90% OF MY TRADES WITH THIS PROVEN STRATEGY.” – TYPICAL AD #1 “LET ME SHOW YOU HOW TO EARN 25% RETURNS, GUARANTEED.” – TYPICAL AD #2 “SIGN UP FOR MY NEWSLETTER AND I’LL SHARE WITH YOU THREE STOCKS THAT ARE READY TO EXPLODE.” ...

Read more...

Personal finance isn’t complicated.  In fact, if you do just six things right, you will become financially successful.  Let’s keep it simple and get started. 1. Earn a decent income. If you don’t make any money, you will never get ahead financially.  Forget about winning the lottery, getting an inheritance, or expecting the government to subsidize your lifestyle.  The only way to build wealth is to work. Jobs with a decent income include computer ...

Read more...

I walked in the other day, and my colleagues were shooting the breeze. They were both staring at the computer and were online looking at watches. Seemed harmless enough. So I sat down and asked them how much the watch cost? They said $7,000! I almost spit out my coffee. $7K! Seven grand! That’s an expensive watch. That’s how much my 2011 Nissan Altima is worth. “That much for a watch?” I asked. ...

Read more...

Congress has passed the new tax bill. This was certainly not tax reform as has been discussed, but simply a rearrangement of how they calculate our taxes. This new plan lowers tax rates but eliminates many of the items that were previously deductible. Sort of like rearranging the deck chairs of the Titanic as it slowly sinks. Real tax reform might have made things so much simpler that the IRS ...

Read more...

2017 has been the year of the cryptocurrency. Of course, the most famous is Bitcoin. It’s been all over the news recently, largely because its value has skyrocketed in a very short time. Since the focus of this blog has a lot to do with investing, particularly in alternative investments, I’d be remiss if I didn’t at least touch on the subject. Now, making money from currency exchanges is nothing new. ...

Read more...

My goal with this post is to try to answer some of the more popular questions that we get asked about multi-level marketing (MLM). Why write about it? Besides the fact that my wife and I are involved in one, and it’s made a significant impact on our income, the number of physicians getting involved these days is huge. My goal is not for everyone to go out and ...

Read more...

In January of this year, I wrote one of my favorite posts after helping a retired couple free themselves from their financial advisor, greatly simplify their portfolio, and saving them more than $20,000 per year in the process. For details, please read "From 28 Funds to 3," then return here for a follow-up. In summary, the couple previously owned 28 funds (with 48 positions between three accounts). The ...

Read more...

Join 145,000+ subscribers

Get the best of KevinMD in your inbox

Sign me up! It's free. 
close-link
✓ Join 145,000+ subscribers 
✓ Get KevinMD's 5 most popular stories
Subscribe. It's free.
close-image