Weekly Rounds: Issue #003

Week of May 18, 2025

May 18, 2025 • Estimated Reading Time: 4 minutes

Fellow physicians, our clinical training prepared us for medical challenges, but financial acumen requires its own education. This month, I'm sharing personal insights on long-term care planning and compensation negotiations that changed my financial trajectory. We'll explore PSLF considerations, unretirement implications, and step-up basis strategies that directly impact our physician portfolios. Let's round on our finances with the same precision we apply to patient care

📝 Financial Lessons from My Family’s Experience with Long-Term Care Insurance

Source: WCI
Published: May 16, 2025

The author shares challenging interactions with their father's long-term care insurance provider, yielding valuable financial insights for healthcare professionals. These difficult experiences have provided educational opportunities that inform better financial planning decisions for medical practitioners regarding long-term care coverage options.

📝 Step Up in Basis — What You Need to Know

Source: WCI
Published: May 18, 2025

Step up in basis is a critical financial concept affecting investing, estate planning, and asset protection. This tax provision allows heirs to inherit assets at current market value rather than original purchase price, potentially eliminating capital gains taxes on appreciation that occurred during the original owner's lifetime.

👴 The Unretired: Why Some Doctors Come Back (and What It Costs Them)

Source: Physician on FIRE
Published: May 15, 2025

Many physicians are returning from retirement due to workforce shortages, finding renewed purpose despite bureaucratic challenges. The process involves costly recertification, insurance, and continuing education requirements. While some doctors embrace this opportunity to serve communities again, others face significant financial and administrative hurdles.

👨‍⚕️ PSLF For Doctors: Is It Still Worth It?

Source: Physican on FIRE
Published: May 12, 2025

Public Service Loan Forgiveness offers significant benefits for physicians working in qualifying institutions, potentially saving hundreds of thousands of dollars in student debt. Despite recent changes, PSLF remains valuable for doctors with substantial loans, especially those pursuing lower-paying specialties in public service settings.

👨‍⚕️ Are you underpaid? A physician’s step-by-step guide to find out

Source: Medical Economics
Published: May 16, 2025

Physicians can determine fair compensation through a systematic assessment of market benchmarks and industry data. This step-by-step approach helps doctors evaluate whether they're receiving appropriate pay for their qualifications and workload. Proper compensation analysis ensures healthcare professionals are valued for their expertise.

As we navigate our professional and financial journeys, one thread connects all these topics: informed decision-making yields financial resilience. Whether evaluating LTC insurance, understanding tax advantages, considering unretirement, weighing PSLF benefits, or negotiating compensation—knowledge truly empowers our financial health. I hope these insights help you move confidently toward your financial goals. 💼

This week’s sponsor:
Monarch Finance