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Are You Saving Too Much? A Case For Loosening The Purse Strings

Most physicians save too little and spend too much, making it very difficult for them to save enough money for retirement. On the other hand, some physicians, particularly those who frequent my blog and other personal finance blogs, are doing really well, saving a high percentage of their income and cruising on the fast track […]

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A Simple Retirement Calculator For Physicians

Retirement planning can be made endlessly complicated with terminology and complicated spreadsheets. Many physicians get so intimidated by the alphabet soup of retirement planning that they often just throw their hands up and not do any financial planning. I wanted to make a calculator that breaks down retirement planning into as few variables as possible, […]

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The Trinity University Study And The 4% Safe Withdrawal Rate (SWR)

The Trinity University study is one of the most widely-cited papers in retirement planning. Its key conclusion, that a fixed 4% withdrawal rate is safe in most traditional retirement scenarios, has helped answer the common question of “How much do I need to save for retirement?” Since a 4% withdrawal rate is considered safe under […]

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Should You Invest In A Bad 401(k) With High Fees?

[Editor’s Note: Thanks to reader feedback, this article has been amended to account for matching contributions or the possibility of lower fees in the future because of a job switch or an employer’s policy change. – WSP] Everyone knows the benefits of investing in a 401(k). You get that upfront tax deduction and tax-deferred growth […]

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How To Invest In A 401(k) Or 403(b) Plan (Intern Financial Survival Series)

Welcome to residency, new interns! Your formal schooling is complete, and you are now working for a real paycheck. While you will be supervised by your attendings during residency, you now have “adult” money things to worry about, like managing a paycheck and investing for retirement. As part of the Intern Financial Survival Series, let’s […]

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PCP vs. Specialists: The Impact Of Short-Term vs. Long-Term Trading

For better or for worse, there is a wide range in salaries between primary care physicians compared to surgeons and other specialists. Some of this difference is due to the increased length of training for some specialties. Neurosurgery has a residency of 7 years, and OB/GYN sub-specialists also spend 7 years in training. Many specialties, […]

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