Olson FP

A financial and tax planning firm working with high-earner physicians.

[Tyler Olson, EA @olsonplanner]

🚀 Big changes at OlsonFP - we’ve revamped our project services lineup to better fit your stage of life and career in medicine.

Whether you’re in training, an attending, or running your own practice, there’s a path for you.

Here’s the breakdown of our project-based services👇

[Tyler Olson, EA @olsonplanner]

I bought my first stocks at 13, became a financial planner at 22, and lived through two major crashes.

Here’s what 25+ years of investing (and 19 years of advising) has taught me - and what I bring to every client portfolio:

[Tyler Olson, EA @olsonplanner]

At @olsonplanning we help docs build and then maintain their financial plan.

Building takes a couple of months.

Then clients rotate into our quarterly review process.

1️⃣ Goals progress action items/risk management review/estate planning

2️⃣ Tax return review/action items for forward tax planning

3️⃣ Asset location/investment performance review

4️⃣ Year-end tax planning wrap-up, employer benefits selections, and focus in on next year’s short term goals

Those 4 meetings/year are OUR requirement.

Beyond that, we are accessible as needed.

Real financial advocacy and partnership are needed to make the most of this life.

[Tyler Olson, EA @olsonplanner]

🔔 Physicians - what you need to know about student loans 🔔

PSLF is not at risk.

20/25 year IDR forgiveness might be gone for new borrowers.

IBR is not at risk.

SAVE will be gone.

PAYE and ICR might be gone.

Parent PLUS and Grad PLUS loans might be gone.

Subsidy for unpaid interest may be preserved.

Overall this is not looking terrible for the far majority of physicians. The loss of Grad PLUS loans would be an issue.

[Tyler Olson, EA @olsonplanner]

Making @adviceresidency education courses readily available for you all.

Head over to the @PhysicianCents site now and start your own learning journey!

[Olson FP @olsonplanning]

@PhysicianCents Wait what??

[PhysicianCents @PhysicianCents]

The entire @adviceresidency video course will soon be available on the Physician Cents site, free of cost!

Doctors being appropriately equipped to advocate for their own path to financial success is within range.

We love to support this ideal!

[Tyler Olson, EA @olsonplanner]

This is what the semi-annual @adviceresidency webinars are for!!

1️⃣ Right after Match Week for graduating med students.

(March 2024 recording on our YouTube page.)

Cost: free

2️⃣ In the late fall (next one is October 27 from 1-6pm EST) for graduating trainees.

Cost: $20

[Tyler Olson, EA @olsonplanner]

@MattFizell @ElliottMAppel The @adviceresidency webinars have been “enough” for the short term. So I’ll probably stick with that.

[Olson FP @olsonplanning]

Residents: Don't let finances be the deciding factor! Choose a fellowship that aligns with your career goals and personal values. Invest in your future! #residentfinance #fellowship #careerplanning #values #residents #medicalresidency

[Olson FP @olsonplanning]

Residents: Fellowship = Career Advantage, but $$$ loss? Calculate true cost - lost attending salary, taxes, retirement. #fellowshiplife #residentfinance #financialplanning #careergoals #fellowship #residents #medicalresidency

[Olson FP @olsonplanning]

#ResidentFinance Tip: Don't just chase fellowship prestige! Consider the salary impact. Plan your career path wisely.

#fellowship #residentfinance #attendingsalary #careerplanning #medicalresidency #physicianfinance

[Olson FP @olsonplanning]

Physician partnerships offer flexibility, but K-1s are crucial. Learn what they mean for your taxes! Plan for a secure financial future!

#physicianfinance #k1taxform #partnerships #taxplanning #financialplanning #residents #medicalpractice

[Olson FP @olsonplanning]

Residents: Don't let work define your life! Align your career with your financial goals - travel, family, homeownership, etc. Live the life you want! #financialfreedom

#residentfinance #financialplanning #lifestyleplanning #careergoals #residents #medicalresidency

[Olson FP @olsonplanning]

Fellowships can lead to higher income, but there's a delay. Weigh starting salary vs. long-term earning potential. #fellowship #doctorlife

[Olson FP @olsonplanning]

#MedTwitter: Fellowship or Finances? Prioritize Passion!

Fellowships offer advancement, but happiness comes from fulfillment. Pursue the path YOU love! #fellowship #medicalcareer #physicianwellbeing

[Olson FP @olsonplanning]

Senior residents offer invaluable insights on resident taxes & retirement plans. Gain a head start on your financial future! #physicianfinance #taxwithholding #retirementplanning #residents #medicalresidency

[Olson FP @olsonplanning]

Older partners' focus on retirement can impact your growth. Learn strategies for a smoother transition! #medicalpractice #partnership #physicianpartnership #youngdoctor #retirementplanning #healthcarebusiness

[Tyler Olson, EA @olsonplanner]

Do these (free or inexpensive) things to advocate for your own personal financial interests:

Listen to @WealthKeel and I on the @PhysicianCents podcast 2x per month. We discuss every aspect of PF relevant to docs. Guests specializing in insurance, law and taxes are coming up this summer!

Subscribe to the @adviceresidency YouTube page for a weekly video dedicated to educating physicians.

Read either a book or two from the likes of @ElliottMAppel, @ramit and @morganhousel

You need to do this for your future.

[Olson FP @olsonplanning]

Building a Practice with New Partners?

Communication is key! Talk to your new partners about tax withholding strategies for a smooth financial start. Learn more https://t.co/NoRoCllAPZ

#physicianfinance #practicemanagement #taxwithholding #newpartners #medicalpractice #doctors