On this episode, my guest is Dan Gauthier of the Rose Law Group in Scottsdale, AZ. We are talking about Opportunity Zones. We discuss what they are, how they can be a tax advantage investment. 

Dan has written about these previously in national media and I thought he would be a great resource to learn more about them. He is not selling anything which is why I wanted him to explain it in an unbiased way.

Opportunity Zones are geographic areas designated by the states and approved by the federal government which qualify for specific tax breaks that we discuss on the show. Investments can be in real estate or qualifying businesses. 

The tax breaks are 3 fold:

1. Defer realized capital gains.
2. Reduction of existing capital gains by up to 15% if opportunity zone investment held for 7 years.
3. No tax on future capital gains if opportunity zone investments if held for 10 years.

As we discuss, these benefits can make a good deal better but do not make bad deals good, so please really vet the deals that are being presented.

Remember this show is for educational purposes only. Please do your own due diligence prior to investing in any deal.

A link to the WSJ article mentioned at the beginning of the show.

Wall Street Journal–Opportunity Zones off to slow start

Contact info for Daniel Gauthier

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook. 

You can follow me on:

twitter @drmoneymatters 

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On this episode, my guest is Amy Mecozzi Cho MD, an emergency medicine physician in MN who is passionate about making sure physicians voices are heard, particularly on the issue that is all over the news lately, Surprise (Balance) Billing. This is when the medical group providing the care charges the patient the balance between their fees and the (low rates) insurance companies will pay. Obviously this is an unfortunate position for patients to be put in and physicians end up taking the financial and perception hits. 

As an emergency physician she is required to take care of anyone who comes into the emergency department by law, physician oath and ethics, regardless of ability to pay. However insurance companies do not have to follow the same rules and can refuse to negotiate adequate reimbursement because they know physicians are bound by these laws. It’s obviously an uneven playing field. These entities have also had the ear of lawmakers and are pushing solutions to Congress that would negatively impact us. We as physicians are generally too busy to fight this, but if we don’t the results will be a disaster for those involved in patient care.

I encourage you to contact your congressional representative and senators and make your voice heard on this issue. The current solution in the Senate is the Benchmark solution and would lead us to the race to bottom described by Dr. Cho on the show. The New York (Independent Arbitration) solution is the one that we need to advocate for. It’s the only real way to reach fair outcomes. The fact that insurance companies are advocating for the benchmark solution should tell you as physicians how it will be for you.

https://www.house.gov/representatives/find-your-representative

Here is an article that goes over the solutions in more detail:

https://www.healthaffairs.org/do/10.1377/hblog20190708.627390/full/

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook. 

You can follow me on:

twitter @drmoneymatters 

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Email me editor@doctormoneymatters.com

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews on Apple Podcasts and continue to share this podcast with your colleagues.

On this episode, my guests are a group of physicians who are in the Direct Primary Care space.

They each have their own practice. Dr. Jessica Edwards is starting a practice in TX. Dr. Mitch Li is starting one in the Chicago area. Dr. Clodagh Ryan has a 2 year old practice also in Chicago and is a veteran and mentor in this space.

In the era of physician burnout, loss of autonomy, dissatisfaction, etc, it’s refreshing to hear about doctors taking charge and executing their vision of patient care.

I previously explored this practice model on an episode with Dr. Josh Umbehr, and that episode inspired Mitch to start his practice. 

While there is constant complaining from physicians about where our profession is headed, use these doctors to inspire you to move in a different direction.

If you are a physician who has successfully built your own practice or practice in a different model than most traditional doctors, I would love to interview you on this podcast. Please reach out to me via the channels below.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook. 

You can follow me on:

twitter @drmoneymatters 

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

On this episode, my guest is Nick McCullum of SureDividend.com.

We talk about dividend investing as a strategy. Everyone likes the idea of passive income and dividends are about as passive as it gets. Money comes in monthly, quarterly, or whatever frequency the company pays it out. Sure there are risks, but over the long term, dividend paying stocks have had lower volatility than the overall stock market.

In this episode we go over the basic terminology (yield, growth rate, DRIPs, etc.) and pros and cons, and how you can use this strategy. I am not trying to convince you to use this strategy but it is a valid one, if you are looking for income especially in your retirement years. We have all heard stories about retirees who live off their dividend checks because they bought the stocks many years ago and reinvested them. The key with this type of strategy as with others is to try to do it as early in your investment life as possible and continue to contribute throughout. The power of compounding is amazing, but the numbers are minor in the first decade, solid in the second decade, and downright impressive in the third decade. By the fourth decade, they become ridiculous. Let me give you an example of this in action.

If you invested 10k in Pepsi (A solid non tech American company) in Jun 2005 and held till Jun 2015 without any additional investment you would have had around $22.5 k (not accounting for taxes). With a monthly $100 additional contribution, your total would be around $42.4 (nearly double). If you would have put in the same 10k ,10 yrs before in Jun 1995, your total would be $68.3k (Nice, but not jaw dropping). With the additional monthly $100, it would have been $131K. Now instead of 1995, you put it in 1985, this is where it becomes amazing, your total would be over $700k, with the monthly $100, it would have been nearly $1.1M. And if you had the ability to buy in 1975, your 10k would be $2.6M, with the $100/mo additional it would be over $5M by Jun 2015.

I used 2015 as an end point because it is in the approximate middle of this bull market and the ten year period prior included 3 years before the 2008 financial crisis rather than at the beginning when asset prices were low (ie if you used current trailing 10 yr returns). But the reality is over long terms, these trends appear to hold with some variance

I am NOT a financial advisor and neither Nick or I are telling you to use this strategy for your investments. If you are interested in learning more there are many good resources including Nicks newsletter.

If you do pursue this strategy, make sure you do so in a tax efficient manner. I do this by placing my highest dividend paying holdings in my tax deferred accounts (401k, IRA, roth IRA, etc) so they can grow unimpeded.

You can find out more about Sure Dividend at their website. SureDividend.com

Twitter @SureDividend

Seeking Alpha (Sure Dividend)

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

My guest on this podcast is Sarah Fallaw, PhD author of the new book. The Next Millionaire Next Door. This is a follow up to the blockbuster book that her father wrote, The Millionaire Next Door. Sarah and her father worked on the follow up together, but he passed away prior to the release. That book was a big inspiration for me to get my financial house in order.

Sarah is an industrial psychologist who runs the firm Data Points where she now studies behavioral finance and the ability for people to build wealth.

In the interview we talk about

• Why doctors were/are under accumulators of wealth
• What issues are different now than when the last book came out?
• What are the enduring traits of Millionaires Next Door?
• Do MNDs use financial advisors?
• How has social media impacted frugality?
• What kind of homes/cars are MNDs purchasing?

You can find out more about Sarah and her company at www.datapoints.com

The Next Millionaire Next Door and the original The Millionaire Next Door are available on Amazon or anywhere else you purchase books.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.