I’m going to keep things broad here: no discussions of index funds, real estate, Roth IRAs or taxable accounts. This is more of a general discussion on what I feel is important to me, what I invest my money and maybe more important, time into. There are a few financial topics, but there are many more “time” topics. On the surface these my seem like individual items, but I assure …
Post Author: Another Second Opinion, MD
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 …
Hopefully, you’ve realized when all of your accounts are taxed; if not, here is a quick refresher.
On the surface, the taxable account looks like a bad deal compared to the others:
- You use after-tax money to contribute to these accounts
- You pay taxes on any dividends you receive each year
- You pay taxes on any capital gains when you take money out
So basically it’s a lose-lose-lose scenario when it comes …
Pop quiz: Fill out the chart above.
If this was too easy for you, move along, this isn’t the post you’re looking for. If you’re slightly unsure, either follow along or skip to the end. I’m going in order.
There are so many to “choose” from it seems slightly overwhelming at first. You really don’t get that many choices: If you’re self-employed, you …
That’s right folks, I am talking about two types of money saving maneuvers:
- Save Money #1: spending as little as possible when making purchases through price competitions, coupons and rebates.
- Save Money #2: putting money you don’t spend into savings and investment accounts for your future.
Save money on purchases
‘Tis the season for giving, but ’tis also the season for buying. Make sure you are doing everything you can to save …
“Ask not what your money will do for you. Ask what you can do for your money.”
I think what this Anonymous fellow is trying to say, isn’t “what will you do for money?” because frankly, we probably don’t want to know what you would do for money, but rather, “what will you do for your finances?”
We all want our money to grow and grow and be there for us when …
The Sunshine Act is part of the Patient Protection and Affordable Care Act passed in 2010. This act went into effect in August of 2013 and requires the full disclosure of any payments (or transfers of value, i.e., lunches and dinners) made to physicians from pharmaceutical and medical device manufacturers.
The spirit of the act is to have more transparency with regards to potential conflicts of interest created when physicians receive …
You’ve worked hard for your money, now make sure it works for you.
We all want our money to grow and grow and be there for us when we ask for it, serve as our nest egg during retirement, eventually go to our kids, grandkids and charitable accounts when we leave this earth. But if we don’t take the necessary steps now, our money will not do this for us.
This is …
Let me start by saying that I am a huge Dave Ramsey fan. When I completed residency and began my current position, The Total Money Makeover was the first personal finance book I read, and pardon the cliché, but it changed my life. It instilled in me a strong foundation in money management and offered me a road map to handle the situation I was in: hundreds of thousands of dollar in …
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