Money and Medicine

by Midwest Legacy Group  Many of our clients work in the medical field, so of course, we get a lot of inquiries specific to tax deductions for physicians and we are happy to oblige. We just want to point out that this article isn’t tax advice, we are not accountants, and it is meant for...

By Midwest Legacy Group Asset management is critical to your financial success as a physician partner. You must protect what you work for and grow your assets’ value. High-net-worth individuals seek this service to manage their portfolios.  So, what does asset management look like for a physician partner? It often involves the following:  Division of...

by Midwest Legacy Group A career in medicine can help you establish a lifetime of high-earning potential. Unfortunately, with few exceptions, most early-career physicians leave medical school with a mountain of student loans to pay off, and that’s how they start their future—in debt. This scenario is especially common for physicians of color. Becoming a...

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Former NBA player Christopher Gandy talks about AI algorithms Issue-98

A talk with former NBA player Christopher Gandy Artificial intelligence has been around for several decades, but its element of deep learning – using algorithms to model high-brow abstractions from a constant stream of connected data inputs – is already having an impact in the insurance and financial legacy industry. There are plenty of sources...

As a new physician, you’ve sacrificed years watching friends buy new cars and first homes, while you’ve spent an extra four years in medical school with no income. You followed that up with three to nine years of residency and fellowships at depressingly low-income levels. It’s no wonder then, when you finally get your new...

The December 2020 stimulus and COVID relief bill has two major features that impact student loan borrowers. First, there is no further extension of the payment and interest pause for federal student loans set to expire January 31, 2021. Second, the bill extends for five years the ability of employers to make tax-free student loan repayment contributions...

According to Medscape’s 2019 Compensation Report, the average doctor brought home $313,00 last year — up from $299,000 in 2018. For medical professionals on the outside looking in, you’re probably not all that far behind. (And for those removed from the field itself, well — this is anything but average.) But that doesn’t mean they’re all...