Working in medicine may be challenging, especially with the strain placed on health care professionals in recent years. Working towards a comfortable early retirement may be a financial goal for some physicians. Here are some suggestions that doctors may use to manage financial independence.

New Year's is traditionally the time to review your life and make resolutions for change. In addition to thinking about working out, eating healthy, and meeting personal and professional goals, you should also think about your finances. To make the most of the New Year, keep the following tips in mind.

Tax planning might be complex, but it's also essential—especially for high-net-worth families, where missing tax breaks or failing to optimize income could cost significant dollars, maybe millions, over a lifetime. And even in the short term, with the highest marginal federal tax rate sitting at 37% for 20241 (plus additional state and local taxes), a lack of tax planning could mean you keep less than half of every dollar you earn. Here are four tax planning tips that may help you optimize your finances.

Life today is expensive, and contributing to a retirement plan is more beneficial than ever. Recently, the IRS announced it was raising the contribution limit for 401(k)s to $23,000 for 2024, up from $22,500. In a world where pensions are nearly gone, having the ability to put more money away can help you prepare for a retirement that may be here faster than you think.

For small business owners, tax planning is crucial. Without proper planning, you may find a large portion of your hard-earned profits and savings eaten up by taxes that may not have been so high if you knew better options to pursue. To help you get started in tax planning for the new year, below are a few considerations to make.