Finance for Physicians

Are You Saving Enough For Retirement

Listen Later

Are you on track for retirement? Where are you at, what’s most important, and where do you want to go? Are you saving enough income at this point in time to become financially independent? 

In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how to know if you are saving enough money for retirement. Check your financial vitals against your financial plan. Run the numbers!

Topics Discussed:
  • Retirement Rules: Follow percentages of income or gross income before taxes?
  • False Assumptions: Everyone has same tax brackets, goals, values, priorities
  • Starting Line: Create, consult financial plan for values, goals, resources, priorities
  • Ways to calculate and run the numbers:
    • Rules of thumb
    • Linear return projections
    • Monte Carlo analysis
    • When? Run the numbers today and adjust over time to accommodate changes
    • Improve Efficiency: Maximize tax shelters, backdoor Roth IRAs, financial plan
      • Links:

      Contact Finance for Physicians

      Finance for Physicians

      ...more
      View all episodesView all episodes
      Download on the App Store
      Finance for PhysiciansBy Daniel Wrenne
      • 4.7
      • 4.7
      • 4.7
      • 4.7
      • 4.7

      4.7

      39 ratings

      More shows like Finance for Physicians

      View all
      Afford Anything by Paula Pant | Cumulus Podcast Network

      Afford Anything

      3,566 Listeners

      Money Guy Show by Brian Preston and Bo Hanson

      Money Guy Show

      3,232 Listeners

      Your Money, Your Wealth by Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors

      Your Money, Your Wealth

      809 Listeners

      Retirement Answer Man by Roger Whitney, CFP®, CIMA®, RMA, CPWA®

      Retirement Answer Man

      1,291 Listeners

      ChooseFI by ChooseFI

      ChooseFI

      5,164 Listeners

      White Coat Investor Podcast by Dr. Jim Dahle of the White Coat Investor

      White Coat Investor Podcast

      2,449 Listeners

      Stay Wealthy Retirement Podcast by Taylor Schulte, CFP®

      Stay Wealthy Retirement Podcast

      673 Listeners

      BiggerPockets Money Podcast by BiggerPockets

      BiggerPockets Money Podcast

      3,079 Listeners

      Bogleheads On Investing Podcast by bogleheads

      Bogleheads On Investing Podcast

      597 Listeners

      Sound Investing by Paul Merriman

      Sound Investing

      344 Listeners

      Money Meets Medicine by Doctor Podcast Network, Jimmy Turner MD

      Money Meets Medicine

      229 Listeners

      The Personal Finance Podcast by Andrew Giancola

      The Personal Finance Podcast

      1,419 Listeners

      The Rob Berger Show by Rob Berger

      The Rob Berger Show

      203 Listeners

      Personal Finance for Long-Term Investors - The Best Interest by Jesse Cramer

      Personal Finance for Long-Term Investors - The Best Interest

      156 Listeners

      Retirement Planning Education, with Andy Panko by Andy Panko

      Retirement Planning Education, with Andy Panko

      1,053 Listeners