Have you ever found money in the pocket of an old pair of jeans, or your lab coat, that you had completely forgotten about? It’s always a nice feeling to find “lost” money, but there is a much bigger pocket full of money that you may be overlooking – your state’s unclaimed property list. Chances are that over the course of your medical education and training, you have lived in a few different cities and states. You diligently closed your accounts – telephone, cable, utilities, maybe even a bank account. But maybe there was some seemingly insignificant account you overlooked…Anytime a company owes you money and cannot contact you for whatever reason, the company cannot legally keep your money and is required to turn it over to the state as unclaimed (also known as escheat). Laws vary by state, but the general rule is that companies must escheat assets inactive for 3 years. The most common types of property turned over to the state are earned interest on a closed savings account, rebate or refund check, dividends, stocks, and bonds; real estate and unused gift certificates are usually excluded. According to their websites, the State of California is currently in possession of more than $5.7 billion in unclaimed property belonging to approximately 11.6 million individuals and organizations; New York has $10.5 billion, and Texas has $2.2 billion. The good news is that it is easy to find and collect your money…
“Well actually, I read on the internet that this cough could actually be related to lung cancer. I mean I don’t claim to be an expert but I read it on a medical site. Is this something I should seriously be concerned about? Maybe I should see a specialist.”
More and more physicians are hearing this from their patients as they increasingly turn to the internet to diagnose their own medical issues. I myself have fallen victim to this from time to time. Why make an appointment with a doctor when you can read what the experts online have to say? Often times, the information found on the internet does far more harm than good. Most of the time, the prognosis online paints a much bleaker picture than it does when you pay that $30 to see your primary care physician. A rash could be just a rash instead of linked to some deadly disease. That cough you’ve had for a month isn’t linked to cancer, but simply to a virus going around in your office.
The internet is a great tool when used properly but just because you have the right tool, doesn't mean you will know how to properly wield it.
I received this article from an MD Preferred member and found it rather interesting. Would welcome feedback from some of you small business owners out there.
Are we finally starting to see "the death of desktops"? I personally don't believe the end is near but there is a strong case building to support that theory.
For the month of June, iPad users were responsible for 1% of the world's internet traffic...and 2.1% of the US. And that's just users of Apple's insanely popular device...that doesn't take into account the growing Android numbers.
Overall market share for both mobile and tablet has increased to 5%, for the first time, in June. This is a strong trend. I know I find myself using my phone and tablet almost exclusively...only going back to my PC when I want to do photo editing or heavier computer work.
By Anthony Williams, ChFC, RFC, CLU
Some ten plus years ago, we were asked to define our practice in one sentence. What is it we do? We help doctors and their families grow their net wealth in a tax-efficient manner while minimizing exposure to litigation. Plainly stated, the goal is to help clients grow and protect wealth while eschewing the risks doctors face. Let’s discuss the three greatest of these risks in more detail.
By Jerry H. Biese
Each generation, it seems, strives to distinguish itself from the former generation. Trendy hairstyles, funky fashion, special slang, alternative lifestyles, and even different ideals are eagerly adopted in an effort to differentiate “us” from “them.” Consequently, it takes years—maybe even becoming parents ourselves—before we can recognize and fully appreciate the wisdom of former generations.
Perhaps it was painful memories and lessons learned from The Great Depression and two World Wars that yielded the fiscally reserved, financially disciplined people we call Mom and Dad. They embraced simple mottos like “patience is a virtue,” “good things take time,” and “the early bird gets the worm.” They worked hard, planned and saved diligently for the future, and lived frugally in the present. If you want something done right, they said, do it yourself.
Maybe we can take a cue from Mom and Dad, after all.
By Arnold C. Friedman, MD, FACR
As a middle-aged physician all too aware of the fact that we are all merely “passing through” life on our way to somewhere else, I am increasingly concerned with having a good work-life balance. Gone are the days of my residency when I was only able to catch a couple of hours of sleep here and there and be lucky to have the time to eat a fast food meal for lunch or dinner. At this point in my life I want to take care of my physical and mental health and diminish the amount of stress that I have. Don’t get me wrong—running a practice is always stressful but there are new ways to diminish that stress and new ways of working that physicians can now take advantage of.
In a 5-4 decision, the Supreme Court says makers of generic drugs cannot be held responsible for warning consumers of the dangers of their drugs on the package's label when the brand-name equivalent doesn't.
The plaintiff in the case sued PLIVA inc. (and every other generic drug manufacturer with deep pockets) claiming she contracted a neurological movement disorder as a result of one of their meds. Surprising just about everyone, she lost.
Medicine continued to be one of the few economic sectors still creating jobs in the wake of the recent recession. Not as many were created in May as in prior months, but there is still a significant need for physicians and others who provide patient care.
"We have seen growth -- not any sort of decline -- in demand for health care practitioners," said Mary Scholz Barber, vice president of recruitment partnerships and marketing with Cejka Search in St. Louis.
Unemployment as a whole held steady at 9.1%, with 54,000 jobs added in May, according to data released June 3 by the U.S. Bureau of Labor Statistics (bls.gov/news.release/empsit.nr0.htm). Most lost jobs were in local government.
This article was originally posted on U.S. News
While no investment approach is successful all of the time, here are six common investing mistakes to avoid:
Inability to take a loss and move on. Psychologically, it's difficult for investors to sell an investment with a loss. Often they prefer to wait until the investment at least gets back to a break-even level. However, that may never happen or may take a long time to do so. The best approach is to forget about the past and ask yourself: "Would I make this investment today?" If the answer is no, it's time to sell and invest the proceeds elsewhere.