What Egypt Says About Investing in Emerging Markets
February 10th 2011Emerging markets are known to be risky, and the situation in Egypt drives the point home. Upheaval in the Middle East demonstrates political risk, one of the major dangers of emerging markets. Another danger? Investment advisers who downplay those risks for their own interests.
ID Theft Drops Sharply, but Out-of-Pocket Costs Soar
February 9th 2011The number of victims of identity theft fell sharply last year, but consumers' out-of-pocket costs skyrocketed, a new study found. New-account fraud, including non-bank accounts, and "friendly fraud" were the most common types of crime.
Do You Know Your Personal Rate of Inflation?
February 9th 2011The rate of inflation in the U.S. is usually measured by the Consumer Price Index, but your own personal rate of inflation may be drastically different. Understanding your personal inflation rate, and how to control it, is crucial because it's a real threat to your purchasing power and your lifestyle.
Ladies and Gentlemen, the Rappin' Hospitalist
February 8th 2011I love discovering entrepreneurial physicians who are doing something different, and having fun with their efforts. Author of the blog "ZDoggMD: Slightly Funnier Than Placebo," Zubin Damania MD is a rapper-hospitalist in Northern California with roots in music and stand-up comedy. In the mood for a chuckle? Check out his latest video.
Physician Office Labs Create Added Revenue Stream
February 8th 2011Practice-based medical labs -- where blood is drawn and analyzed in-house, as opposed to being sent out for analysis -- can not only improve patient care, they have the potential to increase practice revenue when set up correctly. But before diving in, you need to know your patients.
Advice for Young Doctors Deep in Debt
February 8th 2011What can young physicians do to manage the day-to-day costs of life, and overwhelming debt load, while focusing on launching their careers at the same time? Here's some advice to help manage the complex financial problems young doctors typically face.
When Your Business Needs a Kick in the Rear
February 4th 2011At some stage in its "business life cycle," every medical practice or physician-owned business starts to spin its wheels, either because the patients or clients are showing dissatisfaction, or there's way too much business and things are bogging down. Here's how get back on track.
How to Get Top Compensation in Private Practice
February 3rd 2011Many academic programs spare no expense in training their MDs. Private practices, however, are driven by both excellence in clinical care and profitability. Here are some tips to ensure you get top compensation when negotiating pay and benefits with a new practice.
Focus on Saving, Not Investing
February 2nd 2011Physicians who manage their own investments -- and financial advisors who manage investments for physicians -- overwhelmingly focus on investment return rather than the one thing that will guarantee your portfolio will increase in value: Saving. Here's why saving more now is more important than earning more later.
Tax-Smart Investment Strategies: Part II
February 1st 2011Many financial advisors ignore tax efficiency when investing, and their clients end up paying more taxes than they should. Last week, I addressed the importance of investing the right types of securities in tax-advantaged savings accounts. In the second of my two-part series on minimizing taxes, we'll look at investing in taxable accounts.
Kiosk-Type Device Puts an End to Missed Co-Pays
January 31st 2011For physician practices looking for an added revenue stream, sometimes that flowing water can be closer than you think. A new kiosk-type device allows patients to fill out forms and swipe their cards to make co-pays right on the spot. As a result, data is entered more accurately and physicians can put an end to missed co-pays.
Getting Back on the Blogging Bandwagon
January 31st 2011I'm a huge proponent for executing a consistent marketing plan, but I've been a poor example recently! So now I'm recommitting myself to one part of my marketing plan that has proved to be extremely effective for my business over the past four to five years: Blogging.
How to Avoid Choosing the Wrong Investment Advisor
January 28th 2011Declines in market values and uncertainty about the future of healthcare has caused many physicians to question whether it's time to find a new financial advisor. Before you switch investment firms, here are some important considerations.
Find Old World Charm in Mexico's Loreto
January 28th 2011Tourist places in Mexico tend to be ... touristy. But in a little town of about 12,000 souls called Loreto, under the base of the stark Sierra de la Giganta Mountains, you'll find a taste of the country's Old World charm. Loreto looks the way Cabo did 50 years ago.
Aging Physicians: Are Enough Precautions in Place?
January 28th 2011A third of physicians practicing today are over 65, and that number is expected to rise as financial pressures make it tough for doctors to retire. Experts are beginning to question whether enough precautions are in place to ensure the competency of aging physicians.
Quotes To Inspire Success (Financial and Otherwise)
January 27th 2011I've compiled some quotes about money, success and life in general that remind us that we don't have to reinvent the wheel -- we just need to know how to source it. We also learn, yet again, that a felicity of expression is timeless. So read on for some of my favorite quotes, and share some of your favorites with your fellow readers in the comments section.
Monkeys vs. Mutual-Fund Managers
January 26th 2011Each year, investment-research giant picks three mutual-fund "managers of the year" to pats them on the back for their investing skills. The truth is, "hot" money managers have no better chance of beating the financial markets over the long haul than a bunch of blindfolded monkeys.
California Physician Named "World's Unluckiest Traveler"
January 25th 2011When it comes to travel, everyone's got their own horror stories, but relatively few have suffered as much as Dr. Gary Feldman. The Ventura, Calif., pediatric geneticist beat out more than 800 contest entries to be named "The World's Unluckiest Traveler."
Smart Investing in Tax-Advantaged Accounts
January 25th 2011Advice from financial experts are as varied as the types of investments they suggest -- and all too often, few pay attention to the tax consequences when making their recommendations. This week, I'll cover the pros and cons of common investment advice for tax-advantaged accounts.