Weekly Rounds: Issue #012

Week of 7/20/2025

Author

Wealth Rounds
July 20, 2025 • Estimated Reading Time: 4 minutes

As physicians, we excel at diagnosing patients but often neglect our financial health. 💼 This week, I've curated articles to strengthen your fiscal well-being—from estate planning strategies to calculating your financial independence number. Whether you're maximizing your 457(b) contributions or implementing asset protection tactics, these insights will help safeguard the wealth you've worked so hard to build. 📈 Let's treat our finances with the same precision we bring to medicine.

📝 Estate Planning and Passing Wealth to Your Children – 428

Source: WCI
Published: July 17, 2025

Estate planning strategies include giving inheritance earlier in life when children need it most, rather than waiting. The article evaluates variable annuities as wealth transfer vehicles for children and grandchildren, helping families make informed financial decisions about generational wealth transfer.

👨‍⚕️ Asset protection strategies for primary care physicians: Safeguarding your future

Source: Medical Economics
Published: July 18, 2025

Primary care physicians should implement asset protection strategies to shield their finances from potential lawsuits. These include proper insurance coverage, business entity formation, and retirement account utilization. Proactive planning with legal and financial advisors helps safeguard personal and professional assets against liability threats.

📝 Your Guide to 457(b) Contributions

Source: Physician on FIRE
Published: July 16, 2025

A 457(b) plan offers tax-advantaged retirement savings for public sector and non-profit employees. Contributions are pre-tax and capped at $22,500 annually with catch-up provisions available. Unlike 401(k)s, early withdrawals avoid the 10% penalty, making it a flexible option for retirement planning.

👴 Just 30% of workers expect to save $1 million or more for retirement. Here's how to boost your balance

Source: Personal Finance
Published: July 15, 2025

Only 30% of workers anticipate saving $1 million or more for retirement, despite recognizing this amount as necessary for comfortable living. Most expect to fall short of their financial goals. Implementing effective saving strategies can help individuals increase their retirement balances and achieve long-term security.

🏥 How to Calculate Your Financial Independence Number

Source: Debt-Free Doctor
Published: July 17, 2025

Financial independence requires calculating the exact amount you need rather than pursuing arbitrary wealth targets. Determining your passive income needs and financial independence number helps create a realistic path to freedom. This approach enables early retirement without unnecessarily remaining in unfulfilling employment situations.

As we've explored various aspects of physician financial planning this week, remember that true financial independence requires both protection and strategic growth. Whether through estate planning, asset protection, or retirement vehicles like 457(b) plans, the path to your financial independence number becomes clearer with deliberate action. I encourage you to implement at least one strategy from these articles before our next edition. See you then!