Money Talk For ER Docs™

It’s disheartening when we speak to an ER Doc that is freshly aware or surprised by something they’re dealing with in EM. This goes for inexperienced and experienced ER Docs alike. The thing is: nega…

When it comes to the job of an ER Doc, dealing with life-and-death situations on a daily basis is likely to be the most intense and challenging part of the job. However, for many, the workplace bring…

How many credit cards should you be carrying on your person? What expenses should be charged to what cards? How often should you get a new credit card and how does that impact your credit score? Ther…

Before a pilot even takes off, the route to their destination is already mapped out. But just because this baseline is established, doesn’t mean there won’t be deviation along the way. Events like tu…

Disability insurance is arguably the most complex insurance to analyze, discuss, and overall understand. When we look at other insurance, such as life, flood, even to some degree auto, those insuranc…

It seems that people who historically have never been interested in politics have now become obsessed with politics over the past 5 or so years. In doing so, they let emotions seep into other areas o…

Most ER Docs are searching for ways to diversify their income. What’s the number one method for achieving this that comes to mind? Rental properties. But so often are the financial realities of ownin…

When it comes to sports, everybody loves the big play. The game winning Hail Mary pass in football. Or, the knock-out punch in boxing. And when it comes to baseball: the walk-off home run. While thes…

The “4% Rule” is a personal finance industry standard.  If you’ve never heard of it, it’s a guideline for the rate at which you can pull from your retirement account and still have the account surviv…

Your vehicle can be one of the most important, and most difficult, deductions to get right as a 1099 earner. Beyond the lease versus buy decision is another layer: the depreciation factor. With that …

The average American has it much easier than ER Docs when it comes to health insurance. For one, they are probably employed by a company not only offering options to choose from, but also assisting i…

On this special anniversary episode, we take a dive in the responses to our free Vitals™ survey. We get into savings rates, East Coast vs West Coast comparisons, average mortgage and student loan bal…

The IRS is a formidable force that shouldn’t be taken lightly.  So when you owe what are referred to as “back-taxes,” how those are handled is extremely important. Despite the plethora of options tha…

There are tried and true building blocks to a financial plan – areas where if you at least hit those, you can achieve a large percentage of what is needed to reach your goals. The key thing is this: …

Retirement looks different for every ER Doc. Many plan to retire early. Others may reduce workload and extend their working years. Aligning retirement with a spouse is another common goal. Regardless…

One of Biden’s campaign pledges was to provide student loan relief. Well that day has appeared to come… at least to some degree. Based on the overview of Biden’s three-part plan, most ER Docs won’t b…

If you fail to plan, you plan to fail. That couldn’t be truer when it comes to imagining your retirement. ER Docs get so busy and caught up in the day-to-day grind that it can be difficult to find ti…

It’s important to remember: The IRS is your partner in everything you do. We know ER Docs already pay a lot in tax. The last thing you want is to get audited and potentially pay even more tax. So wil…

There are several financial “rules of thumb.” Take not exceeding 28% of your gross pay on your mortgage payment or maintaining 6 months of spending as cash reserves, as examples. And while these may …

The K-1 is an animal. It’s the tax form that reports the earnings, losses, dividends and more in pass-through businesses like S Corporations and partnerships. A large portion of ER Docs receives K-1 …