Bona Fide Finance

06/24/2026

Relocating for a new position and planning to buy a home soon?

The down payment, closing costs, and moving expenses can easily hit $50,000 to $100,000 depending on the market. If your first attending paycheck doesn't arrive until late July and you're trying to close in early August, that's a significant cash outflow before your income actually starts.

Most physicians underestimate how much liquidity they need during this transition. Your emergency fund, relocation bonus (if you have one), and savings all get pulled in different directions at once.

Before you commit to a purchase timeline, run the numbers on your actual cash position through the end of summer. Can you cover the home purchase, moving costs, and 3-6 months of living expenses without depleting your reserves completely?

Mortgage approval gets you the loan. Cash-flow planning gets you through the transition without draining your reserves.

06/22/2026

You are not paid what you are worth. You are paid what you negotiate.

In this video, we break down how to evaluate your first contract beyond the salary number: workload, call duties, benefits, and contract clauses all matter. You'll also learn how to use market data to negotiate with confidence and why pushing back on the initial offer is essential.

Watch the full video here:

You are not paid what you are worth; you are paid what you negotiat...

06/21/2026

To every dad and father figure: Thank you.

For showing up, for the sacrifices you make, for the strength you carry, and for the love you give even when it's hard.

You matter, you're seen, and you're appreciated.

Happy Father's Day from the Bona Fide team.

06/17/2026

Planning to make a large charitable donation this year?

A donor-advised fund (DAF) lets you take the full tax deduction now and decide which charities to support later.

-> Here's how it works: you contribute a lump sum to the fund during a high-income year and receive an immediate tax deduction. The money sits in the fund and you recommend grants to charities over time.

This strategy makes the most sense when your income is unusually high and you want to offset the tax impact without rushing to choose which organizations to support.

A DAF isn't necessary for regular annual giving, but it can be a useful tool when timing and tax efficiency matter.

At Bona Fide Finance, we help physicians evaluate whether a donor-advised fund fits their tax and charitable giving strategy. Schedule a consultation today: https://bonafidefinance.com/contact/

06/15/2026

Picking up locum shifts this summer? Be aware of the tax complexity that comes with 1099 work.

Unlike your W-2 salary, locum income doesn't have taxes withheld automatically. You're responsible for income tax and self-employment tax, which adds up significantly and often unexpectedly. If you're not making quarterly estimated payments, April will arrive with a bill that cuts into the financial progress you thought you were making.

The upside is that 1099 income also unlocks deductions your W-2 salary doesn't allow. Travel expenses, lodging, meals during shifts, and malpractice tail coverage can all reduce your taxable income. Those deductions only work if you track them as you go.

Locum work can be a great way to accelerate your financial goals. Just make sure the tax side doesn't erase the benefit.

06/10/2026

Starting your attending position on July 1?

Here are the financial logistics often overlooked by new attendings before their first day.

06/08/2026

June means annual recertification season for most income-driven repayment plans.

If you're on IDR or pursuing PSLF, check your loan servicer portal now to confirm your deadline. Missing it triggers consequences most physicians don't expect: unpaid interest gets capitalized into your principal, your payment jumps to the standard 10-year plan amount, and your PSLF timeline can get disrupted.

Recertification takes about 15 minutes if you have last year's tax return handy.

Set a reminder today and get it done before the deadline pressure hits.

06/04/2026

For new doctors, a big jump in income doesn’t automatically mean a big house is the right move. In this video, we break down 4 practical ways to think through house affordability, so your home decision actually fits your full financial picture.

https://bonafidefinance.com/house-affordability-for-new-physicians-4-ways-to-decide/

06/03/2026

➡️ Quick mid-year tax check: pull up your most recent paystub.

Does your federal withholding reflect your current income, or is it still based on what you earned last year? If you got married, had a child, changed jobs, or started earning side income, your tax situation changed too.

A 15-minute review now gives you six months to course-correct instead of scrambling in December (or facing a surprise bill in April).

At Bona Fide Finance, we build tax planning into your overall financial strategy so you won’t be caught off guard. Schedule a mid-year review: https://bonafidefinance.com/contact/

06/01/2026

Finishing residency or fellowship this month? Congratulations!

Your income is about to change significantly. Here's what to prioritize in your first 90 days as an attending:

1. Update your disability insurance to reflect your new income.

2. Build your emergency fund to cover 3-6 months of attending-level expenses.

3. Review your benefits package and confirm you understand your retirement options, HSA eligibility, and malpractice coverage.

4. Revisit your student loan strategy now that your income has changed.

Addressing these now can help prevent small oversights from becoming expensive problems later.

At Bona Fide Finance, we guide new attending physicians through this transition so nothing gets missed.