Your W-2 Is Costing You Money
I paid more in taxes last year than I earned during my entire residency. That sentence still makes me a little queasy.And here's what bugs me most: a chunk of that tax bill was avoidable. I just didn't know it yet.
Most of us got the same financial education in medical school. Zero. So we default to whatever retirement plan our employer hands us, max out the 401(k), maybe fund a backdoor Roth, and call it a day. We assume that's the whole playbook.
It's not.
If you've ever picked up a moonlighting shift, done any consulting work, or earned a single dollar of 1099 income, you're sitting on retirement account options that your hospital's HR department will never mention. Solo 401(k)s. Private-practice retirement structures. Vehicles that let you shelter $69,000 or more per year, legally, while slashing your tax exposure.
I've been digging into this topic with Nick Gizzarelli, a Senior Advisor and Retirement Plan Specialist from Earned, and some of what he's shown me is genuinely frustrating. Not because it's complicated. Because it's straightforward, and nobody told us.
We're cohosting a free webinar on Tuesday, February 24th at 2:30 PM EST / 11:30 AM PST called Beyond the W-2: How Physicians Can Maximize Retirement Contributions Across Income Types.
We'll cover how even minimal side income unlocks advanced retirement accounts, why your employer plan might be leaving serious money on the table, and the tax mistakes that keep showing up in physician portfolios over and over again.
This one's worth your lunch break.
[Register here for the free webinar →]
Jorge Sanchez, MDNaples, Florida
