High Income Isn't Wealth

About this episode

Drs. Humayun Naqvi and Adil Ahmed dig into why a high physician salary doesn't equal real wealth, breaking down the buckets approach to money: liquidity, retirement, growth, and a fun bucket. They get into real estate depreciation and bonus depreciation, oil and gas IDC tax breaks, 1031 exchanges, leverage and good vs. bad debt, whole life insurance as a banking tool, building a home office team (CPA, financial planner, attorney), and why wills versus trusts and estate planning matter for protecting your family from probate.

What we cover in this episode

1. rich versus wealthy mindset for doctors
2. the buckets approach to investing and saving
3. real estate depreciation and bonus depreciation tax savings
4. oil and gas intangible drilling cost tax breaks
5. 1031 exchange to defer capital gains tax
6. using leverage and good debt to build wealth
7. whole life insurance as a banking and liquidity tool
8. wills versus trusts and avoiding probate
9. building a home office team: CPA, financial planner, attorney

Your hosts

Dr. Humayun NaqviPreventive Cardiologist · West Houston Heart Center

Dr. Adil AhmedOrthopedic Surgeon · Baylor College of Medicine

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