Physician's Money Digest® - Page 2

PMD is trusted online financial resource for physicians that covers topics in personal finance, investing, retirement planning, practice management, and lifestyle. PMD publishes daily news, advice, and columns from current and former MDs, financial advisors, and health care reporters.

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Retirement 101: Know Your Investment Plan Options
In my daily conversations with medical colleagues, I often toss around certain terms without explaining them fully -- 401k, 403b, 457, IRA, HSA, 529, etc. The reason why these particular number-letter combinations come up so often is because tax-advantaged investment plans are by definition better than regular taxed investment plans -- unless you really like paying taxes. But even tax advantaged investment plans are not all created equal. Let's hit the basics and discuss the different types of investment plans.
Doctors who are Collectors: More than Portfolio Diversification
Often doctors are collectors. In fact, some diversify their financial portfolios with fine art, wine or cars. This begs the question, what are collectors aside from sometimes being physicians? Two philosophers, John Dewey (1859-1952) and Jean Baudrillard (1929-2007), tackled this issue.
A Physician Tries Out Minimalism
I've spent the first forty years of my life enthusiastically accumulating. I've realized it's time to start dealing with the excess.
Understand Your Odds of Getting into Residency
Many aspiring physicians wonder about the numbers behind the residency-selection process. Many also worry about what their options are if they do not get selected. A close look at the statistics behind the program will help you understand your chances for getting into a residency program.

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