#164 Extra, Extra: Hear All About Where Docs Can Keep Extra Savings

Building on the momentum of your high-earning years can sometimes feel like a puzzle with missing pieces. When it comes to finding a home for your extra savings, it can seem like there are a million account types, and it is becoming more common for doctors to feel they have hit a "tax wall" after filling up the usual buckets. While hitting those limits is a great milestone, it can also be confusing when you are looking for the next smart move for your money. In this episode, Nate Reineke and Kyle break down why you shouldn't let taxes alone drive your investment decisions, how to look beyond standard retirement accounts, and which strategies, like specialized employer plans or simply paying down debt, help physicians like you keep your big-picture goals on track without getting tangled in tax-saving traps. We also answer your colleagues’ questions. A Pediatrician in California says, “How do required minimum distributions work on the inherited IRA I received from my mother?” A GI Doc in VA asks, “I feel stuck in my house because we still have a 3% interest rate on our mortgage. We want to upgrade. Is it ever 'mathematically sound' to trade a 3% rate for a 6.5%” A Radiologist in Ohio wonders, “Should I over fund my 529 on purpose with plans to convert it to a Roth IRA for my child later on? Are you ready to turn worries about taxes and investing into a plan for college and retirement? If you’re evaluating your options and want to learn more, 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