New year, new interest rates? It’s a strong maybe. That isn’t the most helpful answer, but if you are close to closing on a new house, should you wait to see if they drop or lock in now? Nate Reineke and Chelsea Jones discuss some factors to consider when deciding whether to wait or not. We also look at how a change might already be factored into the rate you’re getting.

We also answer your colleagues' questions.

A Psychiatrist in Maine says, “My 13-year-old just received a couple hundred bucks at Christmas. He is very interested in investing that money. He doesn’t have any earned income. Is it best to open a UTMA in his name, a 529, or a Roth IRA?”

A Double doctor family in Hawaii asks, “My 18-year-old son just committed to a paid internship for this coming summer and will make enough money to fully fund a Roth IRA. What is the best way to set this up?”

An Oncologist in Oklahoma is wondering, “I looked at our last paycheque for the year 2025. Based on my calculations, it’s likely that we will not meet the safe harbor rules for 2025. I am not sure how this happened, as we are both W2 employees. I know that we will have to pay some penalties, but should I hire a CPA for taxes this year? Generally, I do the taxes myself, but I am not sure if TurboTax can run this analysis.”

Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and get on track. To find out if we’re a match visit physicianfamily.com and click get started or, you can ask a question of your own by emailing podcast@physicianfamily.com.

See marketing disclosures at physicianfamily.com/disclosures