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[EDITOR’S NOTE: Want to hear something scary? Nearly a quarter (24%) of doctors in their 60s are not millionaires. If you’re worried that could be you one day, WCI wants you to join our free Financial Crash Course on August 19 at 6pm MT for attendings who are seeking financial clarity. You didn’t work this hard for so long in your career to worry about whether you have enough money. Register for the Financial Crash Course today and continue down the path to financial freedom!]

 

By Dr. Josh Daily, WCI Columnist

[AUTHOR’S NOTE: This column was drafted before the One Big Beautiful Bill Act (signed into law on July 4, 2025) took effect and therefore reflects pre‑OBBBA tax rules. Since then, two key changes may affect the examples provided:

The SALT deduction cap has increased from $10,000 to $40,000 (for most taxpayers) beginning in 2025.

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