Bona Fide Finance

11/04/2026

Should you take the high-deductible plan with the HSA, or the richer plan with the FSA?

The lower-premium option isn't automatically the better deal.

An HSA has a major advantage: contributions can be made pre-tax, qualified medical expenses can be paid tax-free, and the balance can stay invested for the future. Unlike an FSA, the account belongs to you and follows you if you change employers.

But that doesn't mean the high-deductible plan is always the right choice.

Look at the difference in premiums, your deductible and out-of-pocket maximum, your expected healthcare spending, and how much cash you have available if you face a large medical bill.

For physician households, there is another account to consider: the dependent care FSA. If you're paying for daycare or after-school care, it can provide a valuable tax break that has nothing to do with your health plan choice.

The plan that’s best suited for you is the one that works across your healthcare costs, cash reserves, and tax picture, not simply the one with the lowest premium.

11/02/2026

December 31 is the deadline for several important 2026 tax moves.

If you're making 2026 401(k) or 403(b) contributions through payroll, completing a Roth conversion, harvesting losses in a taxable account, or making a charitable gift, those generally need to happen by December 31.

For physicians with full schedules, waiting until the last minute can leave very little room to coordinate with payroll, your custodian, or your tax professional.

If you want a second set of eyes on your year-end planning, get in touch today: https://bonafidefinance.com/contact/

10/29/2026

The DEA does not call to demand money, and no government agency threatens to suspend a license unless you pay by phone. Ever.

But scammers know exactly how to make you second-guess yourself.

They may have your name, DEA number, NPI, or other information pulled from public records. Then they tell you your license is under investigation and pressure you to act before you have time to think.

If you get a call like this, hang up. Don’t call the number they give you. Look up the agency’s contact information yourself and call directly to verify what’s going on.

You spent years earning your license. Don’t let a convincing scam call rush you into handing over money.

10/28/2026

You started your attending career a decade after your peers, but traditional advice still tells you to save 10% to 15%. That formula assumes a 22-year-old’s timeline, leaving most doctors facing a massive savings shortfall. In this short video, we break down why physicians need a different formula, and how to calculate the real retirement target your lifestyle requires. Link in the comments.

How much should physicians save for retirement? Ben Martinek of Bona Fide Finance in Mandan, ND, shares 2026 targets and account limits.

10/26/2026

For a lot of first-generation physicians, being the doctor in the family also means being the person who gets the call from your parents when they need help with their finances.

You don’t need to know Medicare inside and out. You just need to help your parents figure out what, if anything, is changing for next year.
Medicare Open Enrollment runs through December 7, so there’s still time to review the notice they received and check the three essentials: are their doctors still covered, are their prescriptions still covered, and have the premiums or other costs changed?

If everything still looks right, great. If something changed, now is the time to look at other options.

At Bona Fide Finance, helping aging parents is part of the financial picture for many of the physician families we work with. It’s something we can help you think through alongside the rest of your plan.

10/21/2026

Myth: A will covers everything.

Reality: A will does not control any account with a named beneficiary, and it does not keep your estate out of probate. At a physician's income and net worth, a revocable living trust often does more of the work.

Your estate plan should account for the way your assets are actually owned, not just what’s written in your will.

If you haven’t reviewed your estate plan recently, Bone Fide Finance can help you get started: https://bonafidefinance.com/contact/

10/19/2026

New federal limits are changing how much medical students can borrow, and the loan program that once helped students finance the rest is closed to new borrowers.

For physicians who have already made it through training, this may hit a little differently. Your child, younger sibling, niece, or nephew could be looking at medical school in the next few years, and your family may be thinking about how to help in ways your own family never had to consider.

That makes this a good time to start planning before an acceptance letter arrives. Maybe that means setting aside money in a 529, looking at what private medical school loans would actually cost, or deciding together how much financial support makes sense for your family.

You figured out how to get through medical school with different rules. If someone you love is about to make that same climb, a little planning now can give them more options later.

10/14/2026

The offer letter looks great. But have you read the clawback clause?

Fall is when graduating residents and fellows sign contracts for next July… and it’s not usually the salary line that causes problems later.

A sign-on bonus that has to be repaid in full if you leave within three years. Tail coverage that becomes your bill if you are the one who leaves. A non-compete that covers every hospital within a 30-mile radius.

We walk through it all in our physician contract negotiation video. Give it 15 minutes before you sign anything: https://www.youtube.com/watch?v=WYB-neDL9Jo&t=2s

10/12/2026

A two-minute check for this week:

Pull up your most recent pay stub and find the year-to-date 401(k) or 403(b) contribution. The 2026 limit is $24,500.

If you’re not on pace, there are still a few paychecks left to fix it, and most plans let you change your percentage online in a few minutes.

If you’re already there, good. Next question: where is the rest going?

10/07/2026

October 15 is the deadline for 2025 tax returns that were extended in April.

But remember: an extension gives you more time to file, not more time to pay.

If your return is still sitting unfinished, now is the time to get it across the finish line.

Tax preparation is part of what we do for physician households at Bona Fide Finance, alongside the planning. If this month feels chaotic, let's make next year different: https://bonafidefinance.com/contact/