Blog
Pershing and Schwab Tax Info for 2021

In this video Dave explains how to get your tax information from Pershing's website investor.pershing.com
Read MoreAdding Viewer Access - Charles Schwab

In this video, Dave walks you through the steps to adding an authorized viewer to your accounts on CharlesSchwab.com
Read MoreThe 3 Methods to Utilize Social Security
Wednesday, January 26, 2022Have you been wondering how to maximize your social security? Are you struggling with the question of when, where, and how much you should take? If you are at full retirement age, act quickly! There’s a couple of strategies that...
Read MoreShow All
The ABCs of Financing College for Kids
Wednesday, January 12, 2022As many of you know, I’ve been blessed with having two children. Recently, as I sat holding the newest addition to our family, I thought of college. I could see the sky-high costs of college as I met with clients. How can I put...
Read MoreWhy The Author Of Rich Dad, Poor Dad Is Wrong
Wednesday, December 29, 2021Every so often I get a book suggestion from a client that they think I should check out. One of those books was, “Second Chance.” It’s a book by Robert Kiyosaki. He is the gentleman who wrote, “Rich Dad, Poor...
Read MorePhysician Practice Managers: Mind your buckets
Wednesday, December 15, 2021[Editor's Note: This is a guest post by Steve Wisinski CPA, CFE, MAFF. This post was placed with his permission (and suggested by him). When analyzing the cost of a physician practice for our clients, we normally segregate those costs...
Read MoreHow To Create the Best Timing Strategy
Wednesday, December 1, 2021How To Create the best Timing Strategy By Dave Denniston, CFD In the coming year, I am grappling with the following questions: What will happen in the next year? Are stocks safe? What am I doing to best position you in the next 12...
Read MoreHow IBR and PAYE Can Help Physicians Win the Debt Game
Wednesday, November 17, 2021Last week, we looked at the nuts and bolts of federal loan-forgiveness programs available to physicians working for non-profit entities. This week, we take a closer look at 2 programs: the Income Based Repayment (IBR) Plan and the...
Read More7 Signs You Exhibit Cognitive Dissonance
Wednesday, November 10, 2021Have you ever been struggling inside your mind? Have you been dealing with conflicting thoughts? Like you know in your heart you should follow one particular path, but then you see some new info that pulls you in another direction and...
Read MorePhysicians Should Follow this Checklist for a Healthy Office
Wednesday, November 3, 2021[Editor's Note: This is a guest post by Mark Hughes, CPA, CFE. This post was placed with his permission (and suggested by him). Many of our clients at our Midwest regional accounting firm are physician and physician groups, and helping...
Read More9 Insane (But True) Aspects of PSLF for Doctors
Wednesday, October 20, 20219 Insane (But True) Aspects of PSLF for Doctors Many physicians have an extremely high level of student debt. Fortunately, many are eligible for several types of forbearance programs and debt-reduction programs. The difficulty lies in...
Read MoreOne Couple, Two Different Retirements?
Wednesday, October 6, 2021After many years together, some retired spouses may find their daily routines far apart. When you see online ads or TV commercials about retirement planning, do they ever show baby boomer couples arguing? No. After all, retirement...
Read MoreHow To Slice Up The Pie of Asset Allocation
Wednesday, September 22, 2021Today, we’ll talk about the three basic principles to help you understand asset allocation, risk tolerance, and how you can go about creating a diversified portfolio that balances risk tolerance with a desired asset allocation....
Read MoreIs Retirement Dead?
Wednesday, September 8, 2021My friends, I have bad news. RETIREMENT. IS. DEAD. Departed. Gone. Lifeless. Kaput. Defunct. Broken. But wait, that’s not all…. In past posts, I’ve given some examples of How This Physician Could Retire by 45 and...
Read MoreThe Real Cost of College
Wednesday, August 25, 2021It May Not Be What You Think... How much will your family end up paying for college? Your household’s income may have less influence than you think – and some private colleges may be cheaper than you assume. Private...
Read MoreLiving Vicariously Through My Daughter
Wednesday, August 11, 2021“Living Vicariously (Through My Daughter)” “Goalaaaaaaaaaaaaaaaa” Growing up in Southern California, soccer runs through my veins. Although, I have to be honest. I suck. My two left feet have a habit of crossing...
Read MoreThe Best Time to Do a Roth Conversion
Wednesday, July 28, 2021When’s the Best Time to Do A Roth Conversion? By Dave Denniston, CFA Now, you’re convinced! Now you know a Roth Conversion is a good thing to do… > So… Now what? The question becomes---...
Read MoreWhat is a Roth Conversion?
Wednesday, July 14, 2021One of the biggest conundrums regarding Roth IRA’s that I run into is either: “should I have money in a traditional IRA or Roth?” -- or “perhaps I shouldn’t use them altogether?” As a matter of fact...
Read MoreIs this your Missing Piece?

Don’t Want to End Up Like The Doctor Whose Retirement Account is Cut in Half By Fees? Find Out How You’ve heard the horror stories of doctors getting taken advantage of. You’re shocked. You’re outraged. But...
Read MoreBehind the Velvet Rope: My Financial Experiment

May 8th, 2017 I’ve made references several times this year to a $1 million acquisition I made nine years ago. Now, I’d like to pass to you some of the lessons that I learned along the way. Let’s take you behind the...
Read MoreWhen I Grow Up...

It had to happen. You’re young & nervous. Eyes as wide as saucers. It’s the first day of residency. Your stomach quivers with a mix of excitement & anticipation. You feel the pressure. The real world closing in on you. Less...
Read MoreLong Term Investment Returns - A Comparison
Wednesday, May 19, 2021[Editor's Note: This is a guest post by my friend, a radiology resident, first-time contributor and future collaborator... the one and only Future Proof M.D. You can follow more of his adventures at futureproofmd.com. This post was...
Read MoreThe Tale of Two Doctors (Case Study)

BOOM! Today my friends, we are talking about an explosion. We’re not talking about North Korea here- no nuclear explosions, but the kind that are under your control- a lifestyle explosion. In a recent presentation that I gave to...
Read More7 Deadly Sins of Residents & Fellows

Imagine this, picture this. The sun is shining brightly. A cool breeze sweeps over the brilliant green grass. Your body is filled with the warmth of the energy of the sun. You raise your face to the sky and drink in the moment. Silence...
Read MoreShould I Wait For A Dip?
Friday, April 9, 2021Do you remember that time you had a squirmy feeling? Like you were uncomfortable and just want to sink down into your chair. You might grimace. You might cringe. That’s how I feel now when people ask me… should I wait for...
Read MoreAre You A Customer or a Client?

Have you ever purchased a service and you were so excited about it initially? Then, you felt like nothing more than a number? Have you ever felt like the service you received was as warm as ice? Image courtesy of ShutterStock In this...
Read More3 Lessons From World of Warcraft Every Physician Should Know

Back about 8 years ago, I was knee-deep in this mystical realm, eyes glued on my computer every spare chance I had. Yes, I was an addict. There were many a time my wife wanted to throw my computer out the window, out of our balcony and...
Read More“Why Focus On Physicians?”

“Why Focus On Physicians?” Have you ever looked into your child’s eyes, heard what they are going through, and saw yourself? Have you felt like you were re-playing your childhood? My family and I often sit around the...
Read MoreMy Faith and My Finances - Part 2
Monday, February 15, 2021Over 4 years ago, I wrote a blog post on My Faith and My Finances. A lot has changed for myself and my family over that time and it’s caused me to reflect and ponder on what I can share that may help other people who read my blog...
Read MoreHow to Hire Your Family to Create Tax Breaks
Monday, February 1, 2021Here’s one of the top questions that I get… “How can I reduce my taxes???” It’s a great question to ask! I would ask you several questions right back. Are you paying yourself first and maxxing out your...
Read More6 Financial Resolutions for the New Year
Monday, December 21, 2020Do you feel like the year flashed before your eyes or crept by slowly? Oddly it feels like both somehow. But as this year draws to a close, have you been thinking about what your resolutions will be? Many people begin to make the...
Read MoreSavvy IRA Planning for Baby Boomers - The Basics
Monday, December 7, 2020When it comes to your IRAs and other retirement accounts, you probably have a lot of questions like: How much are my withdrawals taxed? When do I need to begin taking withdrawals? How much will I have to take? What happens to my IRA...
Read MoreDo You Have Financial PTSD?
Monday, November 23, 2020I remember that gripping fear. The fear squeezing my stomach so incredibly tight. Churning and churning. Is this the right move? Could I be wrong again? The fear causing me to hesitate. My mind swirling with the possibilities and the...
Read MoreI Was Wrong
Monday, November 9, 2020I remember feeling…. hardened. Hardened on the inside. That stubborn feeling that you don’t want to get rid of. Three of the hardest words to say. No, it’s not “I am sorry”, but that certainly comes up in...
Read MoreHow are You Voting with Your Dollars?
Thursday, October 22, 2020What do we value? Furthermore, how are we voting with our dollars on our values? I was recently reading this blog post on The White Coat Investor by Dr. Kelly Pham of Love, Success, and the Sock Drawer. First, props to her- it was...
Read More12 Investment Opportunities in the Midst of Corona Virus - Part 4

12 Investment Opportunities in the Midst of Corona Virus - Video Series- Part 3
Read More12 Investment Opportunities in the Midst of Corona Virus - Part 3

12 Investment Opportunities in the Midst of Corona Virus - Video Series- Part 3
Read More12 Investment Opportunities in the Midst of Corona Virus - Part 2

12 Investment Opportunities in the Midst of Corona Virus - Video Series- Part 2
Read More12 Investment Opportunities in the Midst of Corona Virus - Part 1

12 Investment Opportunities in the Midst of Corona Virus - Video Series- Part 1
Read More5 National Parks To See This Summer
Monday, July 20, 2020Are you a nature lover? If so, you may want to take your vacation this summer to view one of the many beautiful national parks the US has to offer! Fresh air, beautiful sunrises and sunsets, stargazing . . . all things that sound...
Read More5 Cheap Places to Take a Summer Road Trip
Monday, July 6, 2020After all the craziness with the coronavirus pandemic have you been thinking about how great it would be to have a vacation or even just a road trip with the family? A lot of folks are still trying to save and prepare for the long haul...
Read MoreThe Bear Market - Opportunities in the Sub-Sectors of the Market
Monday, June 29, 2020Are you looking to take a bit more of a risk in the current market? In our last post, we talked about the major indices --- the S&P 500, the mid cap index, the small cap index. Mid caps and small caps could be great opportunities....
Read MoreThe Bear Market - Opportunities in the Major Sectors of the Market
Monday, June 22, 2020Did you check out our blog post last week where we covered a bit of information to familiarize you with and share the status of the current bear market? If not, go ahead and click the link and take a look. It may help to take a look at...
Read MoreThe Bear Market - Information on the Current Status of the Market
Tuesday, June 16, 2020Have you been interested in the current market and how you can navigate through the maze of financial strategies out there? If so, this is the place for you! I want to provide you some of the best content that we have to help empower...
Read More4 Steps to Take When the Coronavirus Affects Your Finances
Monday, June 8, 2020Recently we have seen many areas of the United States are beginning to open up and there seems to be a glimmer of hope that this pandemic will begin to let up at some point. We are all hopeful that soon we can resume life as usual, but...
Read MoreTaxes in Retirement Part 16 - Consider Roth IRA Conversions

Taxes In Retirement - Part 16 - Video Series- Consider Roth IRA Conversions
Read MoreTaxes During Retirement Part 15 - Retirement Tax Planning - What account do you spend first?

Taxes In Retirement - Part 15 - Video Series- Retirement Tax Planning - What account do you spend first?
Read MoreTaxes During Retirement Part 14 - Medicare Enrollment - Coverage Gaps and Late Penalties

Taxes In Retirement - Part 14 - Video Series- Medicare Enrollment - Coverage Gaps and Late Penalties
Read MoreTaxes During Retirement Part 12 - Working & Social Security - The Ugly

Taxes In Retirement - Part 12 - Video Series- Working & Social Security - The Ugly
Read MoreTaxes in Retirement Part 11 - Working & Social Security - The Bad

Taxes In Retirement - Part 11 - Video Series- Working & Social Security - The Bad
Read MoreTaxes During Retirement Part 10 - Working & Social Security - The Good

Taxes In Retirement - Part 10 - Video Series- Working & Social Security - The Good
Read MoreTaxes During Retirement Part 9 - Different Approaches to Retirement

Taxes In Retirement - Part 9 - Video Series- Different Approaches to Retirement
Read MoreTaxes During Retirement Part 8 - The Social Security Tax Torpedo

Taxes In Retirement - Part 8 - Video Series- The Social Security Tax Torpedo
Read MoreTaxes During Retirement Part 7 - Know Your After-Tax Retirement Savings

Taxes In Retirement - Part 7 - Video Series- Know Your After-Tax Retirement Savings
Read MoreTaxes During Retirement Part 6 - Retirement Surprises

Taxes In Retirement - Part 6 - Video Series- Retirement Surprises
Read MoreTaxes During Retirement Part 5 - The Four Stages of Retirement

Taxes In Retirement - Part 5 - Video Series- The Four Stages of Retirement
Read More5 Ideas to Keep Your Small Business Afloat During the Covid 19 Pandemic
Friday, May 15, 2020If you’re a small business owner, you may be seeing some of the effects of Covid-19. Many small business owners all over America are seeing losses of sales and profits. Times are hard. Every day we are all hoping for good news....
Read MoreTaxes During Retirement Part 4 - Developing A Solution

Taxes In Retirement - Part 4 - Video Series- Developing A Solution
Read MoreTaxes During Retirement Part 3 - The Problem

Taxes In Retirement - Part 3 - Video Series- The Problem
Read MoreTaxes During Retirement Part 2 - A New & Complex World

Taxes In Retirement - Part 2 - Video Series- A New & Complex World
Read MoreTaxes During Retirement Part 1 - Do You Know How Your Retirement Will Be Taxed?

Taxes In Retirement - Part 1 - Video Series- Do You Know How Your Retirement Will Be Taxed?
Read More5 Ways to Manage Your Finances During the Coronavirus Pandemic
Friday, May 8, 2020If you’re struggling to keep your finances in order during the COVID-19 pandemic, you are definitely not alone! Millions of Americans are either struggling or completely unemployed and doing their best to make ends meet. Many are...
Read MoreMarch 2020 Update: War In The Market Part 15 - The Forest Behind The Trees

March 2020 Update War In The Market - Part 15 - Video Series- The Forest Behind The Trees
Read MoreMarch 2020 Update: War In The Market Part 14 - The MACD Strategy What Didn't Work

March 2020 Update War In The Market - Part 14 - Video Series- The MACD Strategy - What Didn't Work
Read MoreMarch 2020 Update: War In The Market Part 13 - The MACD Strategy

March 2020 Update War In The MThe MACD Strategyarket - Part 13 - Video Series- The MACD Strategy
Read MoreMarch 2020 Update: War In The Market Part 12 - What didn't work - 200 Day MA Strategy/January Effect

March 2020 Update War In The Market - Part 12 - Video Series- What Didn't Work - 200 Day MA Strategy & January Effect
Read More5 Ways You Should Consider Investing Your Economic Impact Payment
Friday, April 17, 2020You may have been reading and hearing about the stimulus package that’s passed recently and if you’re anything like me, you may be tired of hearing about the Corona Virus and all this crazy unusual volatility. However,...
Read MoreMarch 2020 Update: War In The Market Part 11 - 200 Day MA Strategy & The January Effect

March 2020 Update War In The Market - Part 12 - Video Series- 200 Day MA Strategy & The January Effect
Read MoreMarch 2020 Update: War In The Market Part 10 - Famous Market Timers & Frustrations w/ Buy and Hold

March 2020 Update War In The Market - Part 11 - Video Series- Famous Market Timers & Frustrations w/ Buy and Hold
Read MoreThere is Hope...A Word of Encouragement

A Word of Encouragement...
Read MoreWar In The Market: 4 Pockets of Financial Opportunity During The Corona Virus Pandemic

- War In The Market - 4 Pockets of Financial Opportunity During The Corona Virus Pandemic
Read MoreMarch 2020 Update: War In The Market Part 9 - Opportunity Is Knocking

March 2020 Update War In The Market - Part 9 - Video Series- Opportunity Is Knocking
Read MoreMarch 2020 Update: War In The Market Part 8 - Dumb Mistakes Smart People Make W/ Investments

March 2020 Update War In The Market - Part 8 - Video Series- Dumb Mistakes Smart People Make W/ Investments
Read MoreMarch 2020 Update: War In The Market Part 7 - Determining Your Risk Tolerance

March 2020 Update War In The Market - Part 7 - Video Series- Determining Your Risk Tolerance
Read MoreMarch 2020 Update: War In The Market Part 6 - 5 Financial Reasons To Be Excited About Corona Virus

March 2020 Update War In The Market - Part 6 - Video Series- 5 Financial Reasons To Be Excited About Corona Virus
Read MoreMarch 2020 Update: War In The Market Part 5 - 5 Financial Reasons To Be Concerned About Corona Virus

March 2020 Update War In The Market - Part 5 - Video Series- 5 Financial Reasons To Be Concerned About Corona Virus
Read MoreMarch 2020 Update: War In The Market Part 4 - Timing The Market

March 2020 Update War In The Market - Part 4 - Video Series- Timing The Market
Read MoreMarch 2020 Update: War In The Market Part 3 - Bear Market = Opportunity

March 2020 Update War In The Market - Part 3 - Video Series- Bear Market = Opportunity
Read MoreMarch 2020 Update: War In The Market Part 2 - Market Data: Current 2020, 2019, & 2018

March 2020 Update War In The Market - Part 2 - Video Series- Market Data - Current 2020, 2019, 2018
Read MoreTop 10 Reasons to NOT Have a Financial Advisor
Monday, April 6, 2020In my last blog post, I discussed The Top 10 Reasons Why You SHOULD Have a Financial Advisor. However, having a financial advisor isn’t for everyone. Maybe you have an amazing financial background. Maybe numbers and money come...
Read MoreTop 10 Reasons to Have a Financial Advisor
Monday, March 30, 2020I have to admit--- it sounds a bit odd to have a blog post titled here are “Top 10 Reasons to Have a Financial Advisor.” It’s a conflict of interest! However, I have to be honest --- having a financial advisor is NOT...
Read MoreMarch 2020 Update: War In The Market - Part 1

March 2020 Update War In The Market - Video Series- Part 1
Read MoreTop 10 Financial Reasons to Be Excited for the Corona Virus
Monday, March 16, 2020In our last article, we mentioned how these are some very scary times that we are in right now. People are quarantined. People are stocking up on everything from beans to toilet paper. However, it’s not all bad and there are many...
Read MoreTop 10 Financial Reasons to Be Scared of the Corona Virus
Tuesday, March 10, 2020These are some very scary times that we are in right now. People are quarantined. People are stocking up on everything from beans to toilet paper. Cruises have become traveling hospitals. The financial markets are dropping like a...
Read MoreTypes of Debt & Leverage...Continued
Monday, March 9, 2020Last week’s post provided a few options for types of debt you could utilize for your business. This week we wanted to discuss a few more options for you to consider when trying to make the best decision for your business and its...
Read MoreTypes of Debt & Leverage
Monday, March 2, 2020There are more flavors of leverage than there are ice cream flavors at Baskin Robbins. In this post we will address a few of them to help you examine your existing debt structure and to consider other options. Family Loans The first...
Read MoreDebt vs. Equity and Examining Debt Structure
Monday, February 24, 2020So many people – business owners and employees alike – have one crucial issue in their financial lives: debt. Debt is a wondrous and powerful weapon in your arsenal, and yet it is often self-destructive and can tear apart...
Read MoreCan You Have A Second Retirement Plan?
Monday, February 17, 2020Have you ever wondered…. How can I pay less taxes??? How can I put away more money and get a tax deduction on it? Well good news my friend!!! There might be some options for you! First, there are a few long term strategies that...
Read MoreSelling Your Business Part V - What's Next After Selling Your Business?
Monday, February 10, 2020You made it! You took all the steps, you checked all the boxes, and you’ve crossed your t’s and dotted your i’s. So now what are you going to do after you’ve sold your business? We feel this is the most...
Read MoreSelling Your Business Part IV - Closing the Buyer & the Deal
Monday, February 3, 2020Now that you have identified the type of buyer you would like to sell to, you want to attract them to your business and close the deal, right? Below we have identified a few helpful tips to attracting the type of buyer you have decided...
Read MoreSelling Your Business Part III - Comparing & Contrasting Types of Buyers
Monday, January 27, 2020In the first two parts of this series we have covered making the decision to buy or keep your business as well as how to value your business and how to find buyers. At this point you may be feeling that you can really do this! You can...
Read MoreSelling Your Business Part II - How to Value Your Company & Find Buyers
Monday, January 20, 2020After reading "Selling Your Business Part I - Making the Decision to Sell or Keep", you may be here because you decided selling your business may be something you’re actually interested in doing and you want an idea as to where...
Read MoreSelling Your Business Part I - Making the Decision to Sell or Keep
Monday, January 13, 2020The crisp winter air is stinging outside. The cacophonous clang of silverware and plates fills Richard’s ears. He sniffs deeply. The thick aroma of dark, black coffee is hanging in the air. Richard and Jon are sitting in a diner,...
Read MoreHow to Reduce Your Taxes Part IV - Choosing the Right Entity for Your Small Business
Sunday, December 29, 2019As we discussed in Part III of “How to Reduce Your Taxes”, starting a small business can be a great avenue for lowering taxes. But starting a business isn’t as simple as deciding on what your business will be and...
Read MoreHow to Reduce Your Taxes Part III - Having A Small Business
Thursday, December 26, 2019As discussed in the first two parts of “How to Reduce Your Taxes,” working to lower your AGI, as well as finding a great accountant who diligently works to lower your taxes, were two great ways to reduce taxes overall. But,...
Read MoreHow to Start Planning and Protecting Your Life and Family
Monday, December 23, 2019Are you starting to think more about your future? Whether you’re starting a family or beginning a new stage in life, planning for the future can help you get the most out of life. Knowing where to start, however, can be tricky...
Read MoreHow to Reduce Your Taxes Part II - Reducing Taxable Income
Wednesday, December 18, 2019Now that you have gathered all the related data to complete your taxes and found the right CPA to help as discussed in “How to Reduce Your Taxes Part I - Finding a Great Accountant,” let’s explore ways to reduce your...
Read MoreHow to Reduce Your Taxes Part I - Finding a Great Accountant
Wednesday, December 18, 2019How Do You Do Your Taxes? It’s getting closer to that time of year again. After celebrating the holidays and ringing in the New Year, tax season comes rolling in fast. For most Americans, tax preparation starts by bringing a box...
Read MoreFinancial Planning 101: Part 10 - Income From Annuities

November 2019 - Financial Planning 101 Part 10 - Income From Annuities
Read MoreFinancial Planning 101: Part 9 - Annuities

November 2019 - Financial Planning 101 Part 9 - Annuities
Read MoreWhat Is the Owner Only 401k?
Wednesday, November 13, 2019What is the Owner Only 401k? Furthermore, why would you want one? You may have heard of this term. Or maybe… Solo 401k Solo-k Uni-K One-participant k They all point to the same kind of plan--- what I refer to as the Owner Only...
Read MoreFinancial Planning 101: Part 8 - Life Insurance

November 2019 - Financial Planning 101 Part 8 - Life Insurance
Read MoreIs Your Money Creating Freedom or Stress?
Wednesday, November 6, 2019Gene should be happy. He has a beautiful family and a caring wife. He’s been in business for over 15 years and has amassed a substantial portfolio. He recently changed jobs and moved halfway across the country to Minnesota as a...
Read MoreFinancial Planning 101: Part 7 - Disability Income Insurance

November 2019 - Financial Planning 101 Part 7 - Disability Income Insurance
Read MoreGet Out of Debt Step 5: Determine monthly spending and where you can improve
Wednesday, October 30, 2019The final step in our journey is to discover and strategize how much you can put toward debt without substantially changing your lifestyle. This can be very time intensive if you want to understand every nut and bolt on a weekly basis....
Read MoreFinancial Planning 101: Part 6 - Roth IRA's and Conversions

October 2019 - Financial Planning 101 Part 6 - Roth IRA's and Conversions
Read MoreGet Out of Debt Step 4: Determine payoff priorities
Wednesday, October 23, 2019By now, you have made a balance sheet for yourself that includes all of your assets and liabilities. Also, you have established the framework for your tangible goals and when you want to achieve them. Here are a few basic ideas to...
Read MoreFinancial Planning 101: Part 5 - 10 Secrets to Financing College

October 2019 - Financial Planning 1015Part 5 - 10 Secrets to Financing College
Read MoreGet Out of Debt Step 3: Create a road map
Wednesday, October 16, 2019Now that we have made your financial reality visible, we have a blank canvas on which to create a map. We know the names of the cities and the states you are going to travel to. Next, we need to figure out how you are going to get...
Read MoreFinancial Planning 101: Part 4 - Online Tools

October 2019 - Financial Planning 101 Part 4 - Online Tools
Read MoreGet Out of Debt Step 2: Understanding your liabilities
Wednesday, October 9, 2019These are the debts and loans that we are looking to eliminate. Before we figure out how to get rid of them, we need to identify the loans and make an inventory of them. I really believe that being organized is more than half the...
Read MoreFinancial Planning 101: Part 3 - Asset Allocation

October 2019 - Financial Planning 101 Part 3 - Asset Allocation
Read MoreGet Out of Debt Step 1: Prepare your net worth
Wednesday, October 2, 2019STATEMENT: “PRODUCING” VS. “NONPRODUCING” ASSETS First, let’s understand the difference between producing assets and nonproducing assets. Producing Assets. Producing assets are investments that are made...
Read MoreFinancial Planning 101- Part 2- First Meeting with FA

September 2019 - Financial Planning 101 Part 2 - First Meeting with a Financial Advisor
Read MorePractical Financial Tips and Life Advice for Young People
Wednesday, September 25, 2019Leaving the family home and venturing out on your own for the first time is both exciting and terrifying. You have the freedom to live by your rules, but you also have a wealth of new responsibilities. It’s all too easy to damage...
Read MoreFinancial Planning 101: Part 1 - How to Select a Financial Advisor

September 2019 - Financial Planning 101 Part 1 - How to Select A Financial Advisor
Read More[CASE STUDY] Why You Should NOT Have a Side Hustle
Wednesday, September 18, 2019In our last blog post, Why You SHOULD Have a Side Hustle, I laid out the case for why I personally have pursued the side hustle and why I think you should too. However, let’s be honest here. A side hustle isn’t for everyone...
Read More[CASE STUDY] Why You Should Have a Side Hustle
Wednesday, September 11, 2019Are you feeling like you are constantly behind the 8 ball? Maybe you’re saving every month in your 401k and saving some on the side, yet it just doesn’t seem enough. At the end of the day, you look at your bank balance and...
Read MoreFinancial Planning 201: Part 6 - Social Security Wages

August 2019 - Financial Planning 201 Part 2 - Charitable Planning
Read More5 Business Leaders that I Admire
Wednesday, September 4, 2019When I want to grow up, I want to be like…. As a tyke and a young adult, I had absolutely no idea. NONE. ZIPPO. NADA. My dad is a great guy and a good family man and there’s many things I’ve learned and carried from...
Read MoreFinancial Planning 201: Part 3 - 7 Ways to Protect your Spouse and Kids

August 2019 - Financial Planning 201 Part 3 - 7 Ways to Protect Your Spouse and Kids
Read MoreOther Stuff Advisors Don’t Talk About Enough
Wednesday, August 28, 2019Over the past few weeks, we’ve tackled so many of the largest issues including living within your means and your rate of return. Yet, there are a few other key areas that need to be considered before your retire. Inflation Taxes...
Read MoreFinancial Planning 201: Part 2 - Charitable Planning

August 2019 - Financial Planning 201 Part 2 - Charitable Planning
Read MoreMy Business is Losing Money
Wednesday, August 21, 2019Your business had been prospering and flourishing. You and your partners built a machine and the company grew and grew and grew. You became wealthy beyond most people’s standards. Suddenly, the revenue started slowing and the...
Read MoreDetermine Your 10-Year Plan
Wednesday, August 14, 2019Once you know where you are now, the next step is to figure out where you and your company want to go. Write the story of your future life as if it has already happened. By adding in all the rich details, this vision will be real for...
Read MoreThe First Step to Creating a Financial Plan
Wednesday, August 7, 2019Before you become a client of our firm or any other wealth management firm, it is vital to determine the stability of your financial foundation. A reputable financial advisor will analyze your income, spending, cash flow, tax situation...
Read MoreUnderstanding Required Minimum Distributions (RMDs)
Wednesday, July 31, 2019Like many of our clients, you probably have an IRA. And there’s a real good chance that it is the largest financial asset you own. Yet we’ve found that when we meet with clients for the first time, they have a lot of...
Read MoreHow Can Medical Residents Better Manage Student Loan Repayment
Wednesday, July 24, 2019[Editor's Note: This is a guest post by Andrew Rombach. This post was placed with his permission (and suggested by him).] All too often, student loan debt makes significant headlines. The typical college graduate can expect to leave an...
Read MoreSimple strategies to get retired
Wednesday, July 17, 2019Physicians work incredibly hard. Many are constantly on-call and the demand and pressure gets ratcheted up and up. There are demands on your time with paperwork, patients, insurance, hospital administration, residents, and so much more...
Read MoreIt’s not about what you make
Wednesday, July 10, 2019One of my good friends, another financial advisor, often reminds me, “it’s not what you MAKE. It’s what you KEEP.” This is so ridiculously simple, yet it’s ridiculously true. Of course, being the smart...
Read MoreWhat Is the Super Back Door Roth IRA?
Thursday, June 27, 2019After reading this article on the Ultimate Guide to Back Door Roth IRAs & then reading this article on the 5 Year Rule for Roth IRAs, you may be salivating and can’t wait to contribute to a Roth IRA! You say to yourself…....
Read MoreHighway Robbery

“Highway Robbery” Doctors are being robbed by Uncle Sam every year. He is stealing your hard earned dollars. Your money is being cut in half with every paycheck. The average doctor is being plundered, robbed, and stepped on...
Read MoreWhich Debt Do You Pay Off First
Friday, April 19, 2019Most young physicians—and some not-so-young ones—have a lot of debt, much of it from medical school. Now that you’re in your career, it’s time to start reducing your debt. But…. where do you start? Maybe...
Read MoreThe Five Year Rule
Friday, April 12, 2019I’m out on a date with my wife—we just enjoyed a delicious tuna dinner (paid with a gift card of course) at McCormick and Schmick’s followed by watching Captain Marvel saving planet earth from her evil Kree brethren....
Read MoreA Day In The Life Of...

Editor's Note: This article was inspired in part by the article "Want to Know Why Your Doctor is Late? Read This" by Sanaz Majd, MD. You can read that article here. In the infamous debacle of Dr. Tardy, we learned about the morning...
Read More3 Steps to Financial Freedom for Burned Out Physicians

Imagine this, picture this. You’re stuck. You’re grinding through your day. One patient after another. You’re feeling numb, calloused to the world around you. You feel focused, but you’re losing your edge. But,...
Read MoreBest 12 Pieces of Advice from The Advisor to Doctors

Have you ever wondered, am I making the right moves? Have you ever worried, gnashing your teeth over a financial decision? Like most of my listeners and readers, maybe you've even made a few mistakes along the way. I'm constantly...
Read MoreI Can Retire When?
Friday, March 8, 2019Physicians work incredibly hard. Many are constantly on-call and the demand and pressure get ratcheted up and up. There are demands on your time with paperwork, patients, insurance, hospital administration, residents, and so much more....
Read MoreInsane Advice from A Professional: Cadillac DI Policies
Friday, February 15, 2019As an established physician, one of the questions I think you need to ask yourself, is how can I cut down on my costs in order to save for retirement? Back when you were a resident or a fellow, having good or even great disability...
Read MoreInsane Advice from A Professional: “Independent” Advisors That Aren’t Independent
Friday, February 1, 2019My first full-time job in the industry was as an investment representative for a big name investment firm The people in the company were very kind and understanding folks. They were generous enough to help train me and assist me with...
Read MoreInsane Advice from A Professional: Selling Cash Value Life Insurance as a Savings Vehicle
Friday, January 18, 2019Do you know what else drives me nuts? Pushy insurance salesmen that insist that cash value life insurance like Universal Life Insurance, Whole Life Insurance, and Variable Life Insurance are ABSOLUTELY necessary as part of a retirement...
Read MoreInsane Advice from A Professional: Invest Don't Pay Off Your Debt
Friday, January 11, 2019Many physicians have had a hard road to get through residency and fellowship. They put themselves through undergraduate programs and medical school. Then, they barely have enough income in residency/fellowship and rely partially on...
Read MoreTips for Reducing Your Income Tax in 2019
Friday, January 4, 2019Let’s explore several easy ways to reduce income taxesPaycheck- Contribute to 401k or 403bI have one basic rule, a mere three words, that I have spoken about in seminars at the Mayo Clinic and with the Minnesota Medical...
Read More4 Critical Ways Doctors Can Protect Themselves Against Malpractice Lawsuits
Friday, December 28, 20184 Critical Ways Doctors Can Protect Themselves Against Malpractice Lawsuits Trusts, Corporations, and Other “Fancy” Stuff We’ve now gone through MANY ways to protect your assets from creditors and malpractice lawsuits...
Read MoreSplit Assets With Your Spouse as a Way to Protect Yourself Against Malpractice Lawsuits
Friday, December 21, 20184 Critical Ways Doctors Can Protect Themselves Against Malpractice Lawsuits Split Assets With Your Spouse If you are married, another really easy fix to protect yourself is to make sure that ALL non-qualified assets are either jointly...
Read MorePay Off Your Debt! to Protect Yourself Against Malpractice Lawsuits
Friday, December 14, 20184 Critical Ways Doctors Can Protect Themselves Against Malpractice Lawsuits Pay Off Your Debt! If you have ever read any of my materials, you’ll know how passionate I am about debt reduction. I hate debt. I think it’s a...
Read MoreMax out those retirement plans as a way to protect yourself from malpractice lawwsuits
Friday, December 7, 20184 Critical Ways Doctors Can Protect Themselves Against Malpractice Lawsuits Max Out Those Retirement Plans The BEST way to protect yourself from creditors is the tried and trued philosophy of… PAY YOURSELF FIRST Simply, every...
Read MoreWHAT NEEDS TO BE IN THE FINANCIAL PLAN?
Friday, November 23, 2018To help you increase, keep, and protect your money so you can live from its returns, several key issues need to be addressed. NET INCOME What is your net income? Net income is what you get to spend after taxes, payroll deductions,...
Read MoreThe Tax Deduction with a Large Return: Being Charitable
Friday, November 16, 2018Some of the best, wonderful things I see clients do is give to others. They give their time, energy, effort and money to some great causes. Maybe it is to their church or to their alma mater to Big Brothers/Big Sisters or to a local...
Read MoreManaging Capital Gains & Dividends
Friday, November 9, 2018I have a basic philosophy in life- control the stuff that you can. Understand it, learn about it to empower yourself with the best possible information to make quality decisions. Unfortunately, we don’t have power in many areas...
Read More5 Ways to Reduce Your Income Without Taking A Pay Cut
Friday, November 2, 2018Let’s explore several easy ways to reduce income taxes. Paycheck- Contribute to 401k or 403b I have one basic rule, a mere three words, that I have spoken about in seminars at the Mayo Clinic and with the Minnesota Medical...
Read More3 Ways To Create Ongoing Multiple Streams of Income
Friday, August 10, 2018Multiple streams of income? You must think I’m a bit nuts! I know how compressed your time is already. You barely have enough time to breathe- let alone manage another financial asset. You may have heard the concept of multiple...
Read More10 Questions You Should Ask Your Advisor
Friday, July 27, 2018Let’s be real here for a sec… Not every physician (or anyone else for that matter) needs or wants a financial advisor. However, if you are sitting here reading this and you don’t enjoy spending time building your...
Read MoreWill Debt Spoil Too Many Retirements?
Friday, July 20, 2018What pre-retirees owe could compromise their future quality of life? The key points of retirement planning are easily stated. Start saving and investing early in life. Save and invest consistently. Avoid drawing down your savings...
Read MoreWhy You Should Stay Invested Through Tense Times
Friday, July 13, 2018Crises pass, and markets eventually regain equilibrium. We have seen some uneasy times lately. Uneasiness impacts the financial markets. When it does, we all need to keep some long-term perspective in mind. Those who race to the...
Read MoreWhich Financial Documents Should You Keep On File?
Friday, July 6, 2018… and for how long? You might be surprised how many people have financial documents scattered all over the house – on the kitchen table, underneath old newspapers, in the hall closet, in the basement. If this describes...
Read MoreThe Pros & Cons of Roth IRA Conversions
Friday, June 29, 2018What are the potential benefits? What are the drawbacks? If you own a traditional IRA, perhaps you have thought about converting it to a Roth IRA. Going Roth makes sense for some traditional IRA owners, but not all. Why go Roth? There...
Read MoreThe Importance of Financial Literacy
Friday, June 22, 2018Too few Americans understand personal finance fundamentals. If only money came with instructions. If it did, the route toward wealth would be clear and direct. Unfortunately, many people have inadequate financial knowledge, and for...
Read MoreTax Rules on Rental Property

The basics on capital gains & deductions. Buying or selling income property has definite tax consequences. A taxpayer should clearly understand them, whether he or she intends to acquire a property or put one on the market. A sale of...
Read MoreTalking to Your Kids About Your Wealth

Today we are going to be following up on “A day in the life of…” In that blog, I talked about a number of different of situations that I meet with physicians that come from a variety of different backgrounds. Dr....
Read MoreManaging Money Well as a Couple

What are the keys in planning to grow wealthy together? When you marry or simply share a household with someone, your financial life changes – and your approach to managing your money may change as well. To succeed as a couple,...
Read MoreHave a Plan, Not Just a Stock Portfolio

Diversification still matters. One day, this bull market will end. In the first quarter of 2017, the bull market seemed unstoppable. The Dow Jones Industrial Average soared past 20,000 and closed at all-time highs on 12 consecutive...
Read MoreCould Insurance Rescue You in Retirement?

Certain kinds of coverage may help to sustain you financially in an emergency. You plan for retirement with expectations in mind. You hope to enjoy a certain quality of life, with sufficient income resulting from smart financial...
Read MoreBuilding an Emergency Fund

Everyone should aim to have a cash reserve. We all would love to have a little extra cash on hand for emergencies. Saving up that cash can be a challenge – but with a little effort, that challenge can be met. Imagine a...
Read MoreLittle Things That May Help Your Retirement Savings

Over time, these seemingly small factors could make a major difference. Saving for retirement takes decades and demands the investment of significant amounts of your income. As this major effort unfolds, you should recognize that some...
Read MoreTax tips to remember when renting out your vacation home this summer
Friday, April 27, 2018[Editor's Note: This is a guest post by David Shindel, CPA, MFE. This post was placed with his permission (and suggested by him). Summertime is vacation rental time, and if you’re the landlord of a property used for vacation...
Read More3 Answers to the Tax Questions Physicians Have Been Asking

Today, we’re going talk about taxes. Before we get into that, I wanna tell you a little story, my friends. Once upon a time... There was a general. He was leading his army into battle against the enemy 10 times the size of his...
Read MoreSecrets on Financial Success for Docs 1.0

Have you ever looked back at something you did and thought…. “Hmmm… I bet I could do this better!” It’s been nagging at me like an itch that I can’t scratch. It’s driving me nuts! Then, I...
Read MoreCombining Your Finances When You Marry

Combining Your Finances When You Marry How separate (or intertwined) should your financial lives be? Provided by Dave Denniston, CFA Some spouses share everything with each other – including the smallest details of their personal...
Read MorePhysician Practices Can Avoid Employment Tax Overpayment with “Common Paymaster”
Friday, March 30, 2018[Editor's Note: This is a guest post by my friend, Mark Huges, CPA, CFE, Partner at ShindelRock Accounting Firm, first-time contributor and future collaborator.You can follow more of his adventures at futureproofmd.com*. This post was...
Read MoreTwo Doctors Married, But Separated

It’s the happiest day of your life! Your wedding day… Best. Day. Ever. Smiles, hugs, the white gown, the champagne, the first dance, the cake, and the limo. Laughter peels through the air. Fleeting memories of vows and...
Read MoreQ& A: Employee stock transfers and “S” Corporations
Friday, March 16, 2018Question: Our physician practice is set up as an “S” corporation. We’re considering transferring stock to a new physician-owner. What are the tax and related economic issues? Answer: The controlling IRS code section...
Read MoreFive Smart Ways to Slash Your Income Taxes in 2017

Today’s world is an incredibly unfriendly tax & regulatory environment for physicians. After all of the years of grinding hard work, being on call 24/7, and saving countless lives, you are likely getting paid a very handsome wage...
Read MoreBeware of Emotions Affecting Your Money Decisions

Today’s impulsive moves could breed tomorrow’s regrets. When emotions and money intersect, the effects can be financially injurious. Emotions can cause us to overreact – or not act at all when we should. Think of the...
Read MoreBefore You Claim Social Security

A few things you may want to think about before filing for benefits. Whether you want to leave work at 62, 67, or 70, claiming the retirement benefits you are entitled to by federal law is no casual decision. You will want to consider...
Read More5 Dumb Money Mistakes Smart Doctors Make

Well, financial freedom- it isn't easy. What I'm about to tell you may shock & surprise you... In fact, if my hunches are correct, simply reading this article today may change your ideas of financial freedom. In the 10 years I've been...
Read MorePhysicians Group Management - Protect Your Patients And Your Practice By Avoiding These 7 Critical B
Friday, February 2, 2018Protect Your Patients - And Your Practice - By Avoiding These 7 Critical Billing Mistakes According to the CDC, there will be nearly 900 million visits to a physician’s office this year in the United States. Each of these visits...
Read MoreAn Estate Plan or a Wealth Transfer Strategy?

Basic estate planning documents may not communicate your intentions. There are three degrees of estate planning: advanced, basic, and none at all. Basic is better than none, but elementary estate planning can still leave something to...
Read MoreActive & Passive Investment Management

What do each of these terms really mean? Investment management can be active or passive. Sometimes, that simple, fundamental choice can make a difference in portfolio performance. During a particular market climate, one of these two...
Read MoreConfessions of an Advisor

“Confessions of An Advisor” Have you ever been in a position that your world was rocked? Have you ever found a shred of evidence that clouded your belief in yourself? Like deep down inside, you started to doubt yourself......
Read MoreThe Physicians Ultimate Guide to Back Door Roth IRAs

My friends, this article is the beginning of a tremendous undertaking- to provide you the ULTIMATE Guide to Back Door Roth IRAs for Physicians. There is no other subject that I get more questions from doctors about. For example…...
Read MoreAre You Batman or Superman?

TRANSCRIPT It’s a bird…. It’s a plane… no… it’s a physician! Hahaha… yes, I’m corny. Whether you are dark and brooding or you are a scion of justice with a S on your chest, I would...
Read MoreThe Physician Millionaire Mind

Have you ever wondered, what does it take to be a millionaire? I’ve found lately that BY FAR my favorite book have been on the topic of ‘The Physician Millionaire’ mind. I’ve been asking these questions....
Read MoreFifty Budget Busting Strategies to Save You Hundreds of Dollars

One of the most basic blocks to become a multi-millionaire is to make sure that you have a surplus of cash each and every month. Simple formula, right? Income – Expenses= Surplus of Cash Much easier said than done though! I know...
Read MoreMind The Behavior Gap

Imagine waking up one day and you find out that you’ve lost hundreds of thousands of dollars. Poof! That million dollar portfolio just become $500,000. It’s gone… Burned up. Disappeared. Just thinking about that...
Read MoreRed Flags of Employee Fraud in a Medical Practice
Friday, November 24, 2017[Editor's Note: This is a guest post by Maria Montie, CPA, MST, CVA, MAFF. This post was placed with his permission (and suggested by him). [It was originally published here] For medical practice owners, dealing with an employee who...
Read MoreThe Evolution of 3 Financial Stages of Physicians

As a young medical student, you cannot wait to graduate and get to residency. A huge paycheck awaits. Maybe you are sitting there reading this and you are now transitioned to practice. You’re struggling with financial decisions....
Read MoreAvoiding the Cybercrooks

Avoiding the Cybercrooks How can you protect yourself against ransomware, phishing, and other tactics? Imagine finding out that your computer has been hacked. The hackers leave you a message: if you want your data back, you must pay...
Read More3 Weirdly Aggressive Things to Invest Your Roth IRA In

Have you ever gotten bored with the ‘regular’ investments? You know the ones- where you can invest in the total stock market or the S&P 500 or in ‘boring’ bonds. However, you don’t like international...
Read MoreThe Little Tax Free Secret for Physicians

Every so often, I hear something that makes my eyes get larger than saucers. Not too long ago… this happened. I got an email from a client recently and he wrote that you could convert an IRA into an HSA. No way…. I...
Read MoreMy Faith and My Finances

Saving and spending. They are two sides of the same coin. When is spending a good idea? Where does giving fall in? Is giving a form of spending? I’m going to tread dangerous ground. I’m going to get on a touchy subject...
Read MoreWhy I Won't Retire by 45 (Case Study)

It had to happen. I was miserable. I knew it was time to move on. But, that’s not all. It cost me $1,000,000 to do it. Hold on a sec. Let’s rewind. In our last article, we examined the case study of PhysicianOnFire and how...
Read MoreHow This Doctor Can Retire by 45 (Case Study)

My jaw dropped. My heart stopped for a moment. I was heart-broken. I didn’t want to believe it. This couldn’t be true, but unfortunately a couple of days later I confirmed that it was true. Here’s what...
Read MoreKey Estate Planning Mistakes to Avoid (Too Many People Make These Errors)

Provided by Dave Denniston, CFA Many affluent professionals and business owners put estate planning on hold. Only the courts and lawyers stand to benefit from their procrastination. While inaction is the biggest estate planning error,...
Read More