Weekly Wealth Rounds: Issue #019

Week of 9/7/2025

Author

Wealth Rounds
September 07, 2025 • Estimated Reading Time: 3 minutes

As physicians, we face unique challenges in building wealth while managing demanding careers. 💼 This week, I'm sharing strategies that helped me achieve financial independence, from optimizing disability insurance to selecting tax-friendly states for FIRE. We'll explore diversification through real estate and whether maxing out your 401(k) is truly the optimal approach. The growing number of physician millionaires proves our profession can build exceptional wealth with the right planning. 📈

📝 How Much Disability Insurance Should You Buy?

Source: WCI
Published: September 5, 2025

Disability insurance is essential for medical professionals, but determining appropriate coverage requires careful consideration. Calculate your actual income needs if disabled, factoring in reduced expenses and alternative income sources. This strategic approach ensures adequate protection without overpaying for unnecessary coverage.

👴 Top States for Physicians to Achieve FIRE (Financial Independence, Retire Early)

Source: Physician on FIRE
Published: September 3, 2025

The study identifies top states for physicians seeking financial independence based on compensation-to-cost-of-living ratios. Indiana, Wisconsin, and South Dakota lead due to high salaries and low expenses. Factors like tax burden and housing costs significantly impact physicians' ability to achieve early retirement goals.

🏥 The benefits of adding private real estate to your portfolio

Source: Medical Economics
Published: September 5, 2025

Private real estate investments offer portfolio diversification and potential for steady income streams. When evaluating opportunities, careful assessment of project sponsors and their track records is essential. Adding this alternative asset class can help balance investment portfolios while potentially reducing overall volatility during market fluctuations.

👴 Should You Max Out 401k to Reach Retirement Goals?

Source: Debt Free Doctor
Published: September 4, 2025

Maximizing 401k contributions resembles a strategic financial decision rather than a universal recommendation. While it offers tax advantages and long-term growth potential, individuals should evaluate personal circumstances before committing fully. Consider your complete financial picture when determining appropriate retirement contribution levels.

👴 Record numbers of retirement savers are now 401(k) or IRA millionaires

Source: Personal Finance
Published: September 4, 2025

The number of retirement millionaires has reached record levels, with average 401(k) balances hitting new highs in Q2 according to Fidelity. This milestone reflects both consistent savings behavior and positive market performance, demonstrating the effectiveness of long-term retirement planning strategies.

As we've seen, building wealth as a physician requires strategic planning across multiple fronts—from protecting your income with appropriate disability coverage to making tax-efficient retirement contributions. Remember that the path to financial independence isn't one-size-fits-all; it requires thoughtful diversification and location-specific considerations. What matters most is creating a comprehensive approach aligned with your personal goals.