MD Wealth Management, LLC

11/14/2023

Check out the latest episode of the podcast, where we discuss some of the opportunities and implications of higher interest rates.

We cover the following and more:

1. An initial overview and explanation of what an interest rate is and how it works
2. Some historical context for how the current environment compares to prior periods
3. How the impact of higher interest rates varies depending on your stage of life
4. Some potential strategies and opportunities presented by higher interest rates

Higher Interest Rates – Opportunities and Implications

10/11/2023

Check out the latest episode of the podcast, where we do a deeper dive into Health Savings Accounts.

We cover the following and more:
1. Overview of an HSA
2. The triple tax benefit
3. The investment component
4. Some of the “eligible” expenses
5. How we use it within a financial plan

Why We Love Health Savings Accounts

09/06/2023

Check out the latest episode of the podcast, where we discuss five of the most common investment mistakes people make.

These include: 1) Waiting for the “right” time to invest, 2) Anticipatory selling, 3) Buying into (or buying more of) the latest “hot” stock or investment trend, 4) Concentrating in one stock or one area of the investment universe, and 5) Chasing income, yield, or a similar theme.

The common theme underlying all of these is human behavior and emotion, and for each mistake, we explain what drives it, how it typically materializes, and what you can do to avoid falling victim to it.

In this episode of the podcast, we discuss five of the most common investment mistakes people make: 1) Waiting for the “right” time to invest, 2) Anticipatory selling, 3) Buying into (or buying more of) the latest “hot” stock or investment trend, 4) Concentrating in one stock or one area of ...

08/14/2023

In the latest episode of the podcast, we discuss five of the most common investment mistakes people make:
1) Waiting for the “right” time to invest
2) Anticipatory selling
3) Buying into (or buying more of) the latest “hot” stock or investment trend
4) Concentrating in one stock or one area of the investment universe
5) Chasing income, yield, or a similar theme.

For each mistake, we explain what drives it, how it typically materializes, and what you can do to avoid falling victim to it.

In this episode of the podcast, we discuss five of the most common investment mistakes people make: 1) Waiting for the “right” time to invest, 2) Anticipatory selling, 3) Buying into (or buying more of) the latest “hot” stock or investment trend, 4) Concentrating in one stock or one area of ...

07/26/2023

In the latest episode of the podcast, we do a deep dive into the topic of health insurance.

We start by reviewing some of the key definitions and terminology related to health insurance, then transition into discussing how to think about your health insurance coverage and how that thought process changes over time.

From there, we move on to a breakdown of the two key phases of health insurance (pre-65 and post-65) and talk about the planning opportunities that are available within each phase.

And lastly, we wrap up our discussion by explaining how to apply the information and framework of this episode to your situation to create the best health insurance plan for you.

07/12/2023

Check out the latest episode of the podcast, where we do a deep dive into the topic of health insurance.

We cover the following:

1. A review of some of the key definitions and terminology related to health insurance

2. How to think about your health insurance coverage and how that thought process changes over time

3. A breakdown of the two key phases of health insurance (pre-65 and post-65) and the associated planning opportunities

4. A discussion of how to apply the information and framework of this episode to your situation to create the best plan for you

Breaking Down Health Insurance

05/31/2023

In the latest episode of the podcast, we dive into the always fun topic of life insurance.

We start out by sharing an overview of life insurance and discussing its purpose. We then transition into the three general life stages (early-career, mid-career, and late-career/retirement), explaining how your life insurance needs change at each stage and sharing tips and strategies for how to ensure that you have the coverage you need, for the time you need it, while paying as little as possible for it.

05/15/2023

Check out the latest episode of the podcast, where we do a deep dive into life insurance and how your need changes over time.

We cover the following:
1. Overview of life insurance
2. The purpose/types of life insurance
3. Life phase #1: early-career
4. Life phase #2: mid-career
5. Life phase #3: late-career/retirement

Throughout our discussion, we share tips and strategies for how to ensure that you have the coverage you need, for the time you need it, while paying as little as possible for it.

Life Insurance – How Your Need Evolves Over Time

04/26/2023

When it comes to saving and investing for retirement, we all have a certain amount of tax-advantaged saving space available to us through a combination of employer retirement accounts and personal retirement accounts.

However, for many physicians, there comes a point where you’re maxing out all of these retirement accounts and still have money left over to save and invest, so it’s natural to wonder “What’s next?” in terms of where you should then allocate money.

For us, the answer is often a taxable investment account, and in this episode, we explain why.

Where to Save Once You've Maxed Out Your Retirement Accounts

04/14/2023

Check out the latest episode of the podcast, where we explain why a taxable investment account is often the next best place to save after maxing out your tax-advantaged retirement accounts.

We cover the following:
1. An overview of a taxable account
2. The downsides of this type of account
3. The advantages versus saving to a bank account
4. Investment flexibility compared to employer accounts
5. Flexibility with adding and withdrawing money
6. Tax aspects and tax planning benefits
7. Attractive features for legacy planning

Where to Save Once You've Maxed Out Your Retirement Accounts

03/22/2023

When it comes to financial planning, there’s often a fair amount of “low-hanging fruit” in terms of easy ways to save money. In this episode, we discuss seven of these items.

Whether it’s parking your cash in a high-yield savings account, shopping around home & auto insurance, harvesting losses in a taxable account, revisiting your life & disability insurance relative to your needs, evaluating your health insurance options versus your usage, rebalancing your investments, or optimizing your credit card benefits, by implementing a few simple tweaks and strategies the cost savings can really add up.

7 Ways to Save Over $7,000

03/10/2023

Check out the latest episode of the podcast, where we share seven simple ways to save a significant amount of money when managing your finances.

We cover the following:
1. Parking cash in a high-yield savings account
2. Shopping home & auto insurance
3. Harvesting losses in a taxable investment account
4. Revisiting life & disability insurance relative to your needs
5. Evaluating health insurance options at open enrollment
6. Rebalancing your investments
7. Optimizing credit card benefits

7 Ways to Save Over $7,000