Your kids are growing up fast. That means more activities to keep track of on top of all your other commitments. How can you juggle being there for your family and working enough to save for retirement? Listen in as Nate Reineke and Ben Utley provide some tips on how to keep all the balls in the air while still planning for the future.

We also answer your colleagues' questions.

Retirement Investing: An ENT from Kansas City who is moving and changing jobs wants to know what we think of some advice they got from a local planner about rolling a 401(k) into an IRA.

Family planning: A surgeon in Connecticut is “financially nesting” as they prepare for a third child at the end of July. They ask what they can do now to prepare financially.

Tax Mistakes: A New Jersey Neurosurgeon was recently shocked by a big tax bill and is wondering if using a Roth 401(K) is a good idea.

Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and get on track. To find out if we’re a match visit physicianfamily.com and click get started or, you can ask a question of your own by emailing podcast@physicianfamily.com.

See marketing disclosures at physicianfamily.com/disclosures

Influenza. It’s a word that sounds ominous when you don’t know what it means. To a physician like you, influenza is nothing more than the average flu, but to a patient, it may sound scary. Does tax-loss harvesting sound extreme or even dangerous to you? Listen in as Nate Reineke and Ben Utley explain what tax-loss harvesting is and how your colleagues are using it right now to save taxes.

We answer some other questions you may have asked yourself.

Market volatility:

An ER/ crit care doc in Massachusetts asked for some thoughts about the market downturn, specifically regarding investment strategies, noting how difficult it is to see 60k in retirement savings gone in a few weeks.

457 plans:

A cardiologist in Oregon is facing a tough situation with their workplace being acquired. They want to know what to do with a non-governmental 457(b) that must now be distributed.

Home loans:

A Colorado cardiologist is house shopping and wants to find that perfect home. Since the process may take a while, he is waiting to list his current house and is curious about other financing options that don’t rely on the sale proceeds.

Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and get on track. To find out if we’re a match, visit physicianfamily.com and click get started or, you can ask a question of your own by emailing podcast@physicianfamily.com.

See marketing disclosures at physicianfamily.com/disclosures

Bananas are cheap but not as cheap as they used to be and the price of almost everything else is going up faster than a monkey up a tree. Everything else but stock prices that is. We’ve gotten several questions from physicians like you essentially asking “What should we do?” Ben Utley breaks down questions about tariffs, taxes, the economy, markets, and what you should or shouldn’t do about it.

Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and get on track. To find out if we’re a match visit physicianfamily.com and click get started or, you can ask a question of your own by emailing podcast@physicianfamily.com.

See marketing disclosures at physicianfamily.com/disclosures

Spring has sprung just like the freshly assembled Adirondack chairs in Ben’s back yard. Fumbling around while constructing Costco lawn furniture is normal, Ben proves that, but, you don’t want to stumble around with your backdoor roth. You also don’t want to be caught off guard by big surprise expenses in retirement.

Nate Reineke and Ben Utley breakdown some of the major life events and expenses physicians like you should consider before retirement including home improvements, grandkids, grad school and weddings!

We also answer the questions your colleagues are asking.

Tax loss harvesting: An anesthesiologist in Illinois asks, “before I connected with Physician Family, I bought a couple hundred thousand dollars worth of single stocks. Several of them have gone down in value and I am wondering, should I sell them now or wait for them to come back?”

Tax prep: A rad onc in Georgia hates doing taxes and wants to know if despite having a pretty simple situation with two W2 employees, is paying a pro worth it?

Disabilities: An OB/GYN from Ohio wants to be ABLE to send her son, who has a mild form of autism, to college but isn’t sure he’ll attend. How should the parents be saving?

Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and get on track. To find out if we’re a match visit physicianfamily.com and click get started or, you can ask a question of your own by emailing podcast@physicianfamily.com.

See marketing disclosures at physicianfamily.com/disclosures

Things in the government are changing but, you already knew that, right? What you may not know is that public student loan forgiveness is still alive and well! Nate Reineke and Ben Utley discuss one pediatrician’s five year journey to student loan debt freedom.

They also discuss the other listener questions below.

A radiologist in Ohio asks if I save my money into a 529, will it grow like my other investments?

A family physician in New York wants to know, is there a downside to increasing my usual investments during the recent correction in the stock market since everything “is on sale”? Is this a form of “Market Timing?”

A family practice doctor in Seattle poses a tough housing question saying, we want to upgrade our house but have a really low interest rate on our current home - our family is saying to keep our current home as a rental but we don’t like the idea of becoming landlords. What should we do?

Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and get on track. To find out if we’re a match visit physicianfamily.com and click get started or, you can ask a question of your own by emailing podcast@physicianfamily.com.

Disclosure:

See marketing disclosures at https://www.physicianfamily.com/disclosures

Introduction:

In this new episode, hosts Nate Reineke and Chelsea Jones tackle the crucial topic of investment strategies for physicians with deadlines, particularly when facing urgent financial goals such as buying a home or addressing student loans. They share insights on how to optimize investments while managing risk.

Summary:

Join Nate and Chelsea as they explore the considerations physicians should keep in mind when investing with a deadline. This episode addresses listener questions about housing decisions, investment timing, and how to balance short-term financial needs with long-term goals. The hosts emphasize the importance of understanding risk and timing in investment decisions.

Key Highlights:

- Navigating Relocation and Housing:

Chelsea shares her experience relocating to Florida and the importance of finding childcare before selecting a home.

- Understanding 457 Plans:

An overview of governmental vs. non-governmental 457 plans and the tax implications of each.

- Selling Your Home:

A discussion on whether physicians should sell their home to avoid realtor fees and the benefits of working with professionals.

- The Reality of All-Cash Offers:

Insight into the competitive real estate market and why an all-cash offer may not always be the best strategy.

- Investing for Short-Term Goals:

Exploration of appropriate investment strategies for upcoming expenses and the risks associated with investing money needed in the near future.

- Understanding ETFs vs. Mutual Funds:

Key differences between ETFs and mutual funds, including liquidity and tax efficiency.

- Key Investment Principles:

Emphasizing the importance of risk management and understanding the relationship between risk and return when planning investments.

Conclusion:

Nate and Chelsea provide valuable insights to help physicians make informed decisions about their investments when approaching critical financial deadlines.

Call to Action:

For more information, visit https://www.physicianfamily.com/

Disclosure:

See marketing disclosures at https://www.physicianfamily.com/disclosures

Closing Thought:

Remember, you’re not just making a living; you’re making a life.

Introduction:

In Episode, hosts Nate Reineke and Ben Utley delve into the complexities of the backdoor Roth IRA, a popular strategy for high-income earners. They address common misunderstandings and provide clarity on how to navigate potential pitfalls, such as the pro-rata rule.

Summary:

Join Nate and Ben as they explore the backdoor Roth IRA process. This episode tackles listener questions about bond discounting, the emergency fund allocation into bonds, and strategies for buying a house while staying on track for retirement savings. The focus is on clarifying the nuances of the backdoor Roth IRA to help physicians maximize their retirement savings while avoiding unnecessary tax liabilities.

Key Highlights:

1. Understanding the Backdoor Roth IRA:

Explanation of the pro-rata rule and how it affects Roth conversions when traditional IRA balances exist.

2. Bond Discounting Basics:

A deep dive into what bond discounting is and how interest rates impact bond values and strategies for using bonds as part of an emergency fund.

3. Buying a House in High-Cost Areas:

Discussion on the financial considerations and challenges faced by physicians buying homes in expensive cities like San Diego and San Francisco.

4. Employer Contributions to Retirement Plans:

Clarification on the nature of discretionary contributions and how they can change.

5. Handling Traditional IRAs for Roth Conversions:

Strategies to manage existing traditional IRA balances, including rolling them into a TSP or considering a Roth conversion for long-term growth.

Call to Action:

For more information, visit https://www.physicianfamily.com/

Disclosure:

See marketing disclosures at https://www.physicianfamily.com/disclosures

Closing Thought:

Remember, you’re not just making a living; you’re making a life.

Introduction:

In this episode, hosts Nate Reineke and Ben Utley dive into the often-asked question: How much do physicians actually spend and save? They explore spending patterns among doctors, discuss financial strategies for managing student loans, and examine the importance of striking a balance between work and family life.

Summary:

Nate and Ben discuss the financial challenges faced by physicians, particularly when it comes to managing expenses and savings. They address a range of listener questions, from paying off student loans to investment strategies and spending habits. This engaging conversation emphasizes the need to prioritize time with family while also navigating the financial landscape.

Key Highlights:

- Balancing Family and Financial Goals:

A physician's desire to pay off student loans quickly to spend more time with family and the importance of not rushing through critical family time.

- Understanding Spending Ranges:

Insights into how much physicians typically spend on a monthly basis, with ranges between $10,000 to $30,000 depending on factors like location and family size.

- Saving Habits:

Discussion on average savings rates for physicians and the challenges they face in maintaining a comfortable retirement lifestyle.

- Investment Strategies:

Reflections on whether physicians should diversify investments beyond index funds, examining the perceived need for complexity in investment choices.

- Health Savings Accounts (HSAs):

Guidance on selecting HSAs when switching to high-deductible health plans, with recommendations based on ease of use and investment options.

- Common Financial Concerns:

Addressing the anxiety many physicians feel about spending and saving, and the misconception that there is a one-size-fits-all approach to financial planning.

Conclusion:

Join Nate and Ben as they provide valuable insights for physician families navigating their financial journeys, ensuring that listeners balance their spending and saving practices effectively.

Call to Action:

For more information, visit https://www.physicianfamily.com/

Disclosure:

See marketing disclosures at https://www.physicianfamily.com/disclosures

Closing Thought:

Remember, you’re not just making a living; you’re making a life. Pursue what lights you up!