Blog

September 15, 2020

457 Plans for Physicians: How you can lower your taxes and increase your retirement savings

Written by Nathan Snow CFP , Posted in

While most physicians know about their employer’s 403(b) retirement account, the 457 – which carries many additional benefits for high-income earners – remains relatively unknown and complex to navigate.

Similar to a 401(k) or 403(b), the 457 account allows you to contribute pre-tax income and defer taxes. This year, participants can contribute the lesser of $19,500 or 100% of their includible compensation. Those who are 50+ may even be able to make a catch-up contribution of $6,500 to their governmental 457 account and thus … Continue reading “457 Plans for Physicians: How you can lower your taxes and increase your retirement savings”

September 15, 2020

Payroll Tax Reduction

Written by David Klepeisz CFP , Posted in

In August, President Trump signed an executive order to reduce Payroll Taxes starting September 1st through the end of December 2020.

This was largely passed as an alternative to an additional stimulus package. The only people eligible for this change are individuals earning less than $104,000 annually or $4,000 bi-weekly. It defers the 6.2% tax on your income going towards Social Security. But this tax isn’t being forgiven, it’s only being deferred. In January 2021 until … Continue reading “Payroll Tax Reduction”

September 10, 2020

How to Make Your Empty Nest Time a Prime Time in Your Life

Written by Barry J Swaim, CFP , Posted in

The empty nest transition can be emotional, but it should also be exciting.

Time flies when you’re a parent. Just when you’ve wrapped your head around the demands and responsibilities of raising a child, you turn around and your little bundle of joy is ready to head out into the world. This empty nest transition can be very emotional. And in some cases, like children who stay on … Continue reading “How to Make Your Empty Nest Time a Prime Time in Your Life”

June 24, 2020

10 Tips Doctors Should Follow When Purchasing a Home

Written by Barry J Swaim, CFP , Posted in

How Savvy Doctors Make their Home Buying Experience a Positive One

Buying a home is a meaningful milestone, and many people feel that it is a signal of true success. However, if you fail to follow certain financial principles, your home purchase can quickly go from success to mess. The ten tips below are designed to help doctors have a positive home buying experience and find … Continue reading “10 Tips Doctors Should Follow When Purchasing a Home”

Retirement Planning is always a complex process, but it presents some unique challenges for doctors and dentists. Although many of the basic principles remain the same for retirees from any industry, doctors and dentists often start saving later in life because of lengthy educational requirements, and they also tend to have significant student loan debt. … Continue reading “Retirement Planning for Doctors and Dentists: Four Tips for Success”

May 6, 2020

Saying Thanks to Frontline Workers: Freebies and Discounts for Our Health Care Heroes

Written by Barry J Swaim, CFP , Posted in

These Companies Want to Thank You for Your Important Work

Healthcare workers have always been our nation’s undercover heroes, working tirelessly in the service of others without much celebration of that fact. The COVID-19 pandemic has shined a light on this work, however, throwing into sharp relief the bravery, selflessness, and heroism America’s healthcare workers display every day. If you or someone you know works … Continue reading “Saying Thanks to Frontline Workers: Freebies and Discounts for Our Health Care Heroes”

April 10, 2020

Stay Connected and Focus on the Long Term to Withstand Coronavirus

Written by Barry J Swaim, CFP , Posted in

Here are some things you can do to care for your body, your mind, and your perspective every day during this difficult time.

One unique challenge of the coronavirus pandemic is that it’s a global crisis that’s also affected each and every one of us in a very personal way. We’re all learning to balance our worries about huge topics like public health care and the economy with our own disrupted schedules and the daily needs of our … Continue reading “Stay Connected and Focus on the Long Term to Withstand Coronavirus”

April 10, 2020

Scams Abound Amid Pandemic Panic

Written by Barry J Swaim, CFP , Posted in

The following guidelines can help you protect yourself from these digital scams and stay clear of suspicious links you may come across in your internet travels.

Sadly, as is the case in any crisis, there are those among us who are looking to capitalize on cruelty and take advantage of heightened vulnerabilities. Hackers are trying to lure victims to click on COVID-19 related hyperlinks that contain malicious software and other computer viruses. In some cases, these scams look like official messages … Continue reading “Scams Abound Amid Pandemic Panic”

February 26, 2020

Your 2020 Financial Well-Being: Control What You Can Amid New Laws and Predictions

Written by Barry J Swaim, CFP , Posted in

How to Tune Out the Talking Heads and Focus on Your Goals

Between the upcoming presidential election and the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which became law in December, it’s easy to begin worrying about what 2020 will mean for your personal finances. We refer to these as exogenous factors. When your head starts to spin, though, remember to focus on the things … Continue reading “Your 2020 Financial Well-Being: Control What You Can Amid New Laws and Predictions”

February 10, 2020

Practicing Good Health and Financial Habits Will Lead to a Fulfilling Retirement

Written by accruentadvisors , Posted in

The most successful retirees are those who feel both healthy and secure.

Many people think of their physical health and their financial security in terms of two separate goals, but the truth is they are very much linked. In fact, a recent study published by the Association for Psychological Science showed that whether or not an individual contributes to a 401(k) plan is a good predictor of … Continue reading “Practicing Good Health and Financial Habits Will Lead to a Fulfilling Retirement”