Target Date Retirement Funds: Great for Some but Not All

Target date funds have become quite popular, and many physicians have them as available investment options in their employer sponsored retirement accounts such as their 401(k)s and 403(b)s. The first Target Date fund was introduced in 1994 in response to retirement plan participants’ relative lack of knowledge about investing and how to approach managing their

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Start Saving Early to Take Advantage of Compound Interest

Many physicians have very ambitious retirement income goals. If you hope to reach those goals, comprehensive financial planning is critically important. There are many different areas that will need to be shored up; emergency fund, disability insurance, life insurance (if you are planning for yourself and a spouse), tax planning, and an investment strategy just

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Efficient Charitable Gifting Through Donor Advised Funds

There are many ways to donate to charity, however, some methods are more effective than others. Often the easiest ways of donating are the least beneficial for the donor from a tax standpoint. Donating cash, using a credit card online, or writing a check, while simple to do, are not the most tax-efficient methods of

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Resisting the Urge to Abandon Ship During Rough Seas

There’s no doubt stocks have been experiencing considerable volatility lately. The CBOE Volatility Index has seen multiple days with extremely sharp moves, the most since 2014. After years of low volatility, it was merely a matter of when, not if, the markets would experience a rise in volatility. Higher volatility reflects greater price swings in

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ABLE Accounts: Savings Accounts for Families with Special Needs Children

For many years, parents of special needs children were limited to using Special Needs Trusts and Pooled Income Trusts to provide long-term financial support, both of which could be quite costly. However, in 2014 the Achieving a Better Life Experience Act, better known as the ABLE Act, was passed. This Act allowed individuals with disabilities

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An Emergency Fund Should be a Top Priority

An emergency fund is an important part of any financial plan and can be the difference between comfortably surviving an unexpected event and financial distress. A financial emergency can occur at any time and for a wide range of reasons. You may become sick or disabled preventing you from working, your home may need immediate

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