Income Too High for Roth IRA? Don't Forget the Backdoor!

Income Too High for Roth IRA?  Don't Forget the Backdoor!

In my previous post ROTH IRA - the Cadillac of Retirement Vehicles I talked about why the Roth IRA is the best overall tax-advantaged retirement vehicle.  I briefly discussed the income limit required to qualify for Roth IRA contributions.  While most medical trainees are unlikely to make a high enough income to be disqualified from direct Roth IRA contributions, those residents/fellows with a lot of moonlighting income or transitioning to their first attending jobs are a different story.  Here is how you can continue contributing to a Roth IRA even after you exceed the income limit.  Hint: It's called a Backdoor Roth IRA.

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Future Proof Shares - 9/19/17

Future Proof Shares - 9/19/17

After 2 weeks of Hurricane filled roundups, I'm sure you are all glad to return to the norm.  "Future Proof Shares" is a weekly series with the goal of selecting 5 interesting pieces of media on money and medicine from around the Interwebs.  They may be old or new but will always be new to me.  This series is inspired by "The Sunday Best" by my fellow physician money blogger Physician on FIRE (PoF).  Enjoy! 

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Public Service Loan Forgiveness (PSLF) Application Walkthrough

Public Service Loan Forgiveness (PSLF) Application Walkthrough

The Department of Education recently made available the official application form for Public Service Loan Forgiveness (PSLF).  If you have been keeping track, we are quickly approaching the 10-year period since the launch of PSLF.  Theoretically the first group of eligible borrowers should be able to benefit from PSLF starting October 1, 2017.  Let's take a look at this very important document, shall we?

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2017 Equifax Hack - What to Know and What to do About it.

2017 Equifax Hack - What to Know and What to do About it.

Believe it or not, there were some non-hurricane news in the last 2 weeks.  By now you have probably heard of the massive Equifax hack.  If it's starting to sound like a broken record, that is because this is already the 29th large scale data breach of 2017, and we've still got 4 months to go before we hit 2018.  Here is what you should know and what you can do about it.

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Future Proof Shares - Irmageddon Edition

Future Proof Shares - Irmageddon Edition

As of yesterday morning, I wasn't even sure that I would be posting anything for this week's Shares.  Hurricane Irma was sensational National News.  But for those of us living in Florida, it was pretty much ALL news last week.  Perhaps it's because that Hurricane Harvey was still fresh in our minds, perhaps it's just the Floridian way.  By all indications, we prepared well for the storm.  Below is a collection of posts about Hurricane Irma worth reading.

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REVIEW: Splitwise - A Must Have for Group Spending

REVIEW: Splitwise - A Must Have for Group Spending

Do you hate splitting checks as much as I do?  I remember way back in college, we would go out for these big group dinners and when the check comes at the end of the meal, it was always a 20 minute ordeal trying to figure out who owes what.  Being the perpetual nerd, I always volunteered to pull out my smartphone and do the math.  But turns out there is much easier and elegant way to split bills.  Let's talk Splitwise.

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Future Proof Shares - Hurricane Harvey Edition

Future Proof Shares - Hurricane Harvey Edition

There are a lot of news going on in the world, including North Korea's new nuclear threats.  But for those of us living in the US, none looms as large as Hurricane Harvey in the last week.  As you undoubtedly have heard, Harvey was the first major hurricane to make landfall since Hurricane Wilma in 2005 and possibly the most costly since Katrina.  With 66 confirmed casualties as of 9/4/2017, Harvey may not sound all that destructive.  But as the wettest storm in US history, Harvey's damage will be felt for a long time.  Houston and surrounding areas will need our help in their long road to recovery.

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Future Proof Docs - The Productive Physician

Future Proof Docs - The Productive Physician

Welcome to another installment in the Future Proof Docs series. As a reminder, this is a series of posts highlighting physicians who excel at something outside of medicine and care enough to share their passions with us.  Today I want to introduce the Productive Physician.  Mark is a physician, medical educator, and a master at getting things done.  I hope you will enjoy this Q&A.

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