Bona Fide Finance

09/30/2026

Open enrollment is coming. It’s easy to click through the same elections you made last year and move on, but let’s talk about a few points to review:

1. Disability coverage. Group coverage through your employer is a reasonable start, but it may not be own-occupation, the benefit may be capped well below your actual income, and if your employer pays the premium, the benefit is generally taxable to you.

2. Retirement plan. Know your match, your vesting schedule, and whether a 457(b) is available. If it is, whether it is governmental or non-governmental changes how you should think about using it.

3. Health plan and HSA. If a high-deductible plan fits your family, the HSA attached to it can work as a long-term tax-advantaged account, not just a spending account.

4. Life insurance and tail coverage. Group life is rarely enough on its own, and if you ever leave the practice, know who pays for tail coverage before you sign.

Our Employee Benefits Assessment is built for exactly this. We review the package in front of you and help you make elections that fit your full financial picture.

09/28/2026

Your standard insurance policies have limits. Your liability exposure doesn't.

If a lawsuit exceeds the limits of your auto or home insurance, additional personal assets could be at risk, depending on the circumstances and state law.

An umbrella policy extends your liability coverage beyond the limits of your underlying policies, often for a relatively small annual premium. As your income and net worth grow, revisiting whether your coverage still fits your financial picture is time well spent.

For physicians who have been building their income and assets for years, liability coverage deserves a place in the broader financial plan.

09/23/2026

Thinking about practice ownership? The question I always ask first: Can your finances handle an unpredictable income year?

Employment gives you a stable paycheck and someone else absorbing the business risk. Ownership gives you more control and more long-term upside, but your income is now tied to how the practice performs.

Where this gets tricky: the buy-in is the number everyone focuses on, and it’s only part of the equation. Overhead, staffing, and slower-than-expected patient volume in the early years all affect what you actually take home.

None of that means ownership is the wrong move. For a lot of physicians, it’s the better long-term decision. The goal here is flexibility: enough cash reserve and enough margin in your household budget that a lean first year is an inconvenience rather than a crisis.

If you are weighing this decision, it’s exactly the kind of thing we work through with clients. Call us at (701) 203-3219 or email [email protected].

09/22/2026

Do you make too much to directly contribute to a Roth IRA? This short video outlines the concept of a backdoor Roth IRA, which can be a viable legal alternative. Watch now to get actionable insights. Link in the comments.

Whether you’re an early-career physician or nearing retirement, shielding what you’ve built is critical. This short video explores key strategies to help you find long-term financial freedom. Watch now. Link in the comments.

09/21/2026

At Bona Fide Finance, we work exclusively with physicians. We understand the debt, the delayed income, the compensation structures, and the pressure of trying to build wealth on a timeline that started later than most.

Our approach is comprehensive: tax planning, investment management, retirement projections, and insurance, all coordinated by a team that already understands the context, so you're not starting from scratch every time something comes up.

If you're ready for a financial partner who gets it, let's talk: https://bonafidefinance.com/contact/

09/16/2026

Helping a parent manage their finances? Here's what you need to know about RMDs.

09/14/2026

You spend your days taking care of everyone else. Who is taking care of you?

I work with physicians every day, and I see the financial side of the pressure: the debt, the hours, the feeling that stepping back is not an option.

Physician burnout comes from long hours, emotional weight, administrative load, and a culture that too often treats asking for help as a liability rather than a strength.

Your mental health matters as much as anyone else's, including the patients you see every day.

If you are struggling, please reach out to a colleague, a friend, or the Physician Support Line at 1-888-409-0141, a free and confidential resource run by physicians for physicians.

09/09/2026

If you were on SAVE, do you know what repayment plan you are on right now?

Borrowers who did not actively select a new plan may have been moved into a standard repayment plan by default, and standard repayment does not count toward Public Service Loan Forgiveness.

If you are working toward PSLF at an academic center or a nonprofit hospital, we recommend confirming this week rather than next spring.

Also, RAP calculates your payment from your total adjusted gross income rather than only the income above the poverty line. For an attending, that math looks very different than it did in residency.

There is no single right answer here. The right plan depends on your income trajectory, your forgiveness timeline, and how your household files.

Student loan analysis is part of how we look at a physician's full financial picture at Bona Fide Finance. If you want a second set of eyes on your plan, let's talk: https://bonafidefinance.com/contact/

09/07/2026

To our clients spending Labor Day rounding, taking calls, or covering the ER: thank you for the sacrifices you make every day to care for our communities.

And to those fortunate enough to have the weekend off: we hope you get to unplug for a bit and enjoy time with the people in your lives.

Happy Labor Day!

09/02/2026

Malpractice insurance protects you professionally, but it has its limitations.

Policy gaps and situations outside of work can create exposure that insurance alone doesn't address. A car accident, an incident at your home, any situation where you're personally named creates risk to the wealth you've built.

Real asset protection goes further. It involves how your assets are titled, where they're held, and the legal protections available in your state. These structural decisions can matter as much as the insurance itself.

At Bona Fide Finance, we help physicians look beyond insurance to build a complete asset protection strategy.