A donor-advised fund (DAF) is a charitable investment account that is owned by a 501(c)(3) nonprofit, but controlled by you. This article reviews 5 benefits of a donor-advised fund. 5 Benefits of a Donor-Advised Fund Benefit #1: Get an immediate tax deduction A key...
How much will your disability insurance pay? Knowing how much your disability insurance will pay is key to deciding if you have enough coverage. Many disability insurers will cover a max of 60% of your income. This is the total amount between your policy at work...
There are two main types of mortgages. A fixed rate mortgage has the same rate and payment the entire time. An adjustable rate mortgage (ARM) can change its rate, and therefore your payment, as rates change in the marketplace. We strongly recommend a fixed rate...
The average pay for an emergency physician is over $300,000 per year. Most people recognize that they need professional advice on how to save and invest that level of income. When it comes to spending, most people rely on their intuitions. Happy Money: The Science of...
This is a comprehensive resource guide covering all the key areas of financial planning for emergency physicians. This post, and all of ER Doc Finance, is dedicated to helping you cut through the noise (most of our articles can be read in less than 5 minutes). Don't...
In this short video (3 min) I explain the difference between term and whole life insurance, and why ER doctors should buy term life insurance and avoid whole life insurance. Highlights 99% of ER doctors should buy term life insurance, NOT whole life insurance...
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