#177 Should You Skip a 529 Without a State Tax Break?

#177 Should You Skip a 529 Without a State Tax Break?

Author: Nate Reineke July 22, 2026 Duration: 18:38

When planning for your children's future education, a lack of an upfront state income tax deduction can make saving feel like a raw deal. Nate Reineke breaks down a question from a Florida surgeon tempted to skip 529 plan contributions entirely because the state lacks a state income tax break. We discuss why focusing solely on short-term deductions can miss the benefit of long-term tax-free compounding growth.

We also answer your colleagues’ questions.

A double-doctor family in Kansas says, “We did our Backdoor Roth conversions this year, but I am not sure TurboTax coded it right when we filed. How can I tell?”

An anesthesiologist in Oregon asks, “I am applying for disability insurance but there is a lot of paperwork, and I am unsure about how to do this the right way. What should I do?”

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


Finding a clear path through financial planning feels uniquely challenging when your career is in medicine and your heart is at home with family. The Physician Family Finances Podcast exists in that specific, demanding space. Host Nate Reineke, alongside co-host Chelsea Jones, brings their experience as Certified Financial Planner™ professionals directly to conversations with physician parents. They understand the dual pressures of managing a practice, caring for kids, and making smart long-term decisions with your earnings. Each episode moves beyond generic advice to tackle the real questions you face, from navigating student loan strategies and investment options tailored to a physician's timeline to planning for retirement without sacrificing your family's present. This isn't about quick tips; it's about building a sustainable framework that aligns with your values and goals. Tune in for a candid, practical discussion that makes complex topics like tax laws and wealth building accessible, so you can gain confidence and clarity with your finances. The entire podcast is built on the principle that securing your future should feel like an achievable part of your life's work, not an overwhelming distraction from it.
Author: Language: English Episodes: 50

Physician Family Finances Podcast
Podcast Episodes
#185 Physicians Don’t Need to Move the Financial Goalposts to Win [not-audio_url] [/not-audio_url]

Duration: 30:09
Dessert comes after the vegetables. A seven year old goes along with this because at seven the broccoli takes four minutes and the ice cream shows up in the same hour.You have been eating vegetables since you were twenty…
#184 Smart Strategies for Docs Who Inherit Brokerage Accounts [not-audio_url] [/not-audio_url]

Duration: 41:41
What is in your garage that you would not go out and buy today?The elliptical. Your father-in-law's table saw. Six gallons of the paint color from the last house.This week we take a question from a physician who inherite…
#183 Docs Don’t Need to Shipwreck Their Plan to Keep Family Afloat [not-audio_url] [/not-audio_url]

Duration: 41:55
Every lifeguard learns the same thing before they are allowed near the water. You do not swim into someone's arms. A panicking person will climb you, and then there are two people in trouble instead of one, so you bring…
#182 Are Annuities Really a Bad Deal for Physicians? [not-audio_url] [/not-audio_url]

Duration: 27:35
Nobody books the all-inclusive because the food is better. They book it because it takes the risk out of the trip. No bad rental in the wrong part of town and no hour-long drive to anything worth eating. An annuity is th…
#180 Saving Beyond the 529: How Doctors Can Pass Down Wealth [not-audio_url] [/not-audio_url]

Duration: 32:50
There are two ways to get saving for your children wrong. You can undersave and leave your kids with student loans. You can oversave and hand a nineteen year old a pile of money with no strings attached. Physician famili…
#179 Is the Cash Balance Plan Tax Break Worth It for Doctors? [not-audio_url] [/not-audio_url]

Duration: 34:53
Should you choose a high tax break or high investment growth? Nate Reineke and Chelsea Jones break down a common dilemma for high-earning physicians: deciding between a Cash Balance Plan and a traditional taxable brokera…
#178 Online Comparison: The Thief of Physician Joy [not-audio_url] [/not-audio_url]

Duration: 40:14
When you log onto online physician forums, it’s incredibly easy to feel like you are losing a race you didn’t even know you were running. Nate Reineke and Chelsea Jones tackle a question from a 40-year-old family medicin…
#176 Remodel or Relocate: Should Doctors Stay or Should They Go? [not-audio_url] [/not-audio_url]

Duration: 31:23
When you need an extra bedroom and a bathroom remodel, it is incredibly easy to turn a lifestyle dilemma into a stressful math equation. Nate Reineke and Chelsea Jones look at a question from a double-doctor family in Vi…