Weekly Rounds: Issue #013

Week of 7/27/2025

Author

Wealth Rounds
July 27, 2025 • Estimated Reading Time: 3 minutes

As we navigate our financial journeys alongside demanding medical careers, strategic planning becomes paramount. This week, I'm examining crucial questions many of us face: Is the AMA's disability coverage sufficient? What options exist for 529 withdrawals? I've also analyzed Buffett's housing market concerns and whether "Buy, Borrow, Die" truly serves our profession. Let's avoid the common pitfalls that delay retirement. 💼

🏥 Is the American Medical Association (AMA) Disability Plan Worth It?

Source: WCI
Published: July 25, 2025

The AMA disability plan offers physician coverage but differs significantly from individual policies. When evaluating options, doctors should carefully compare benefits and limitations before committing. Understanding policy specifics ensures appropriate income protection if you become unable to practice medicine.

💰 5 Money Mistakes That Can Put Retirement Farther Off

Source: New York Times
Published: July 27, 2025

Five common financial errors can delay retirement goals, including inadequate savings despite having employee-sponsored plans. Many struggle to prioritize future security over immediate gratification. Balancing present desires with long-term planning is essential for achieving retirement readiness and avoiding postponement of this important life stage.

💰 Can You Get Money Out of Your 529?

Source: Physician on FIRE
Published: July 24, 2025

A 529 plan allows tax-free withdrawals for qualified educational expenses. Funds can be used for college, K-12 tuition, and apprenticeships. Non-qualified withdrawals incur taxes and penalties. Account owners maintain control and can change beneficiaries. Leftover funds can be saved for future educational needs.

💹 Jean Chatzky sends strong message on 401(k)s, IRAs

Source: Personal Finance
Published: July 22, 2025

Financial expert Jean Chatzky delivers a significant statement regarding American retirement planning. Her message addresses how individuals are guided when preparing for their financial future through 401(k)s and IRAs. Chatzky's insights come from her extensive experience as former NBC Today Show financial editor.

👨‍⚕️ Does ‘Buy, Borrow, and Die’ Work for Physicians?

Source: WCI
Published: July 22, 2025

The Buy, Borrow, and Die strategy allows high-income professionals to leverage assets without selling them. This approach enables physicians to avoid capital gains taxes while accessing wealth through borrowing against investments. The strategy's effectiveness depends on individual financial circumstances and long-term planning considerations.

As we navigate our financial journeys, the common thread throughout these topics reminds us that strategic planning—whether evaluating disability insurance, avoiding retirement pitfalls, or considering tax-efficient wealth transfer strategies—requires both medical precision and financial acumen. The decisions we make today shape our financial health tomorrow, just as surely as our clinical decisions impact patient outcomes. 💼