Personal Finance

ETFs remain best suited for investors who would like to invest in index funds but want the same trading scenario as for common stocks.

Variable life insurance, whether it's a whole or universal life policy, allows the policyholder to control the growth of their cash value account.

The CIC can be structured to have as much or as little economic risk as the physician chooses.

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Annuities have tax-deferred earnings, not subject to income and contributionlimits

Consider making an outright contribution or transferring stock to a charitabletrust

San Francisco is a city known for its culinary creations. A diverse population allows for many unique dining locales that are sure to please the palate.

Amounts paid into Health Savings Accounts can be used to reimburse medicalexpenses

You may want to consider initial use of basic, tried and true asset protectionstrategies

Two days after its merger announcement, US Oncology, Inc., reported that two class action lawsuits have been filed naming US Oncology and its directors as defendants.

Before investing in new technology for your practice, take these stepsto determine ROI

Q In order to have more money available for my own personal investments,I first need to improve on our collections in the practice. Any suggestions?

Ralph Straffon, MD, a urologist and retired chief of staff at the Cleveland Clinic, died Jan. 22.

Q After being very unsuccessful in buying individual stocks, I havedecided to invest in actively managed mutual funds. What is the best wayto compare mutual funds?

Q How much life insurance coverage is recommended for physicians whohave a family?A Many physicians recognize the benefits of developing an overallfinancial plan to meet positive long-term objectives, such as retirementsavings and education funding. However, putting a plan in place to addressthe unexpected, via life insurance, is less pleasant and can be quite difficult.

Tax planning has long been an extremely effective tool used by many urologiststo keep their tax bills to a minimum. Often overlooked in this ongoing battlefor legitimately lower tax bills, however, is the biggest tax bill facedby many physicians and their practices: property taxes. Even those utilizingrented property for their practices are impacted by property taxes.

Patients with nephrolithiasis frequently have metabolic abnormalities that promote calculus formation and, when identified and corrected, may attenuate stone activity.

Invest based on economic merits rather than tax benefits to minimizerisk

Q My broker is suggesting that I invest in bonds, specifically bondmutual funds. After reviewing the literature, I'm confused by the differencesamong the mutual fund choices. What are the real differences?

For the second time in 2 years, our lawmakers have created federal taxcuts designed to spur business investment. However, despite record-low interestrates, affording the funds to acquire the property and equipment to takeadvantage of those tax cuts has never been harder. Into the breach has steppedthe U.S. Small Business Administration (SBA).

Read the policy's guarantee section to ensure coverage meets your specificneeds

Your practice, potentially an object of contention, may require a professionalvaluation

As our overhead costs continue to increase while reimbursements decrease,physicians are motivated to find novel ways to reduce our fixed overheadcosts. Nearly every practice has 15% of "fat" that has to be cut.Just a few cost-saving strategies will reduce thousands of dollars of overhead,and one of these strategies is to implement an electronic system of archivingmedical records.

Q I am currently acting as the trustee of my urology practice's retirementplan. How do I avoid potential liability issues as my plan's fiduciary?A As more physicians become aware of their need to limit theirliability exposure both personally as well as professionally, it's importantto understand the risks of acting as a fiduciary of a qualified retirementplan. Qualified retirement plans are defined as those that are congressionallyapproved and have the following major tax benefits:

Many physicians find themselves unprepared for retirement, bothfinancially as well as emotionally. From the financial standpoint, the majorityof physicians fail to reach their own financial objectives. The main reasonis that, as a whole, physicians start saving too late, and they are unableto make up the shortfall during their peak earning years.

Family limited partnerships, which offer income and estate tax benefits,may be the answerQ I recently attended a seminar on how to protect assets from potentiallawsuits that detailed a number of complicated strategies, all of whichseemed rather impractical and very expensive. From a practical standpoint,which of the various asset protection techniques are urologists successfullyusing?

Q Can you summarize what impact the recently proposed tax law willhave on retirement plans?

Returns on inflation-protected securities have low correlation with stocks

Q I am currently fully invested in a variety of individual stocksand equity mutual funds and am concerned about the market's volatility andrecent drop, even though I don't plan on needing the money for another 10to 15 years. Does it make sense to sell now and buy back at a later date,or should I remain fully invested?

Use these helpful sites to keep track of news, portfolios, mutual funds,and bondsQ I have been trying to become more involved and hands on with myinvestments. I would like to take advantage of the various financial websites, but there are so many that I find myself wasting time trying to findthe right ones. Any suggestions?