Top retirement places for city slickers
Not all surgeons who retire plan to settle down and spend their twilight years in a peaceful, secluded location—some want to enjoy the perks of living close to a big city. For that crop of surgeons, a recent report, "Retirement Migration in America," lists the following metropolitan areas as the top 15 for retirement for being low in crime and financially sensible:
• Boston area: Sandwich, MA
• New York City area: Southbury, CT
• Philadelphia area: Jenkintown, PA
• Washington, DC/Baltimore area: Boyce, VA
• Atlanta area: Monticello, GA
• Miami/Ft. Lauderdale area: North Palm Beach, FL
• Detroit area: Rochester, MI
• Chicago area: Michigan City, IN
• Dallas/Ft. Worth area: Lindale, TX
• Houston area: Bellaire, TX
• Minneapolis/St. Paul area: Paynesville, MN
• Phoenix area: Sun City, AZ
• Seattle area: Greenbank, WA
• San Francisco/Oakland/San Jose area: Martinez, CA
• Los Angeles area: Yucaipa, CA

Do you have unclaimed property?
Everyone welcomes an unexpected financial windfall. While it's unlikely that you will win the Megabucks lottery or dig up buried treasure in your backyard, there is a chance that you are sitting on a substantial sum of money. According to the National

Association of Unclaimed Property Administrators, billions of dollars in cash and valuables are waiting for their rightful owners to claim them. Bankrate.com says that one out of eight Americans is entitled to collect money from old bank accounts, stocks, bonds, uncashed paychecks, utility deposits, and other sources. Go through your parents' financial records; you may discover old bank statements that suggest money may still be in the account. If the bank is no longer in service, contact the Federal Deposit Insurance Corporation to track down where the money went and attempt to claim it. Any old stock certificates you find may also be quite valuable. Contact the Securities and Exchange Commission to find out the value of the certificates and whether you are entitled to cash them in.

Americans increased retirement savings in 2005
The news is full of alarming headlines about frozen pension plans and eroding Social Security benefits—are Americans finally heeding these dire warnings? According to the Wall Street Journal, retirement savings in the United States rose to $14.3 trillion during 2005. The Investment Company Institute (ICI) published research demonstrating that US retirement assets grew by almost $1 trillion between 2004 and 2005, which isn't bad considering publicized concerns that the country as a whole isn't saving enough. Starting in 1999, retirement assets flatlined and dipped severely in 2002 because of a bear market. This was followed by 2 years of expansion: retirement assets were at $12.2 trillion in 2003 and grew to $13.5 trillion by 2004. According to the ICI report on asset growth, Americans' cumulative retirement assets hit $14.3 trillion by year's end 2005. The ICI research also found that investors held $7.3 trillion in individual retirement accounts and defined-contribution plans.

Discover a very ‘old' method of investing
Some surgeons delve into the world of collectibles when looking for investments that are sure to appreciate, such as coins or stamps. Dig a little deeper and you may uncover a collectible genre that has become increasingly popular over the past few years: fossils. According to Worth, high-quality fossil prices are rising at auctions due largely in part to a growing number of admirers who want to display them in their personal collection as organic art pieces. You don't have to fly out to Wyoming with a shovel to acquire these ancient artifacts; numerous pieces can be found on auction blocks all over the country, and all are appreciating in value. Worth cites the example of a man who bought a fossil at auction 15 years ago for $3,400 that is now appraised at nearly $25,000. That's not a bad return and, for the kid in you, probably a lot more fun than pouring your money into yet another fund.

Bring balance to your portfolio with CDs
Sometimes stocks require too much time-consuming homework and intimidating risk. Surgeon investors who want to earn money through investing but are concerned about pouring their soul into the stock market may want to consider purchasing certificates of deposit (CDs). CDs are available with short- and long-term options, ranging anywhere from 1 month to over 5 years. Which one you choose depends on how you want to manage your money. About.com suggests that your first concern should be the interest rate climate.

When rates are low, a short-term CD is your best bet. That way, when rates eventually rise, your money isn't tied up. For example, if you buy a long-term CD when rates are low, you could end up accruing 2% interest on your CD even if rates for current CDs are at 6%. On the flip side of the coin, if you are purchasing a CD and a rate drop is predicted, select a long-term CD to lock the current rate in for as long as possible. To discover the current rate climate, visit Web sites such as www.bankratemonitor.com, which offers online tools that allow you to find the best deal out there.

Add a silver lining to your portfolio
If you're a surgeon investor with a glittering gold fund, perhaps another precious metal can make your portfolio gleam. A new silver exchange-traded fund (ETF) has been launched, sponsored by Barclays Global Investors, called iShares Silver Trust (SLV). According to MarketWatch, this ETF marks the first time that investors can put their money specifically into silver without holding the metal or diving into futures markets. The silver ETF has been a long time coming and was delayed partly because of opposition from the Silvers Users Association, a nonprofit group that says the SLV fund will take a large chunk of silver off the market and increase prices. The Securites and Exchange Commission has stated that, on the contrary, the ETF should increase efficiency and transparency of the silver market. If you're interested in finding that silver lining and making an investment in the SLV, keep in mind that the Internal Revenue Service classifies silver as a collectible, which means that if you hold it for more than a year, gains are taxed at 28%, just like gold.

Be careful giving credit piggyback rides
Surgeons are used to being sympathetic toward their patients. But where money is concerned, sympathy can land you in an uncomfortable situation. According to an article in the Washington Post, piggybacking refers to letting someone who is in credit trouble sign on as an authorized user on one of your credit cards so they can rebuild their credit by using your good credit history. If someone wants to help improve their own credit history, then becoming an authorized user of a wisely used card (ie, one that has a long record of being paid on time and a low balance) can boost their credit score considerably. Also, the authorized user's bad credit history has no impact on the credit history of the cardholder.

However, helping someone out by signing them as an authorized user on your card can put you at risk if they run up charges and fail to pay their debt. As the primary cardholder, you are ultimately liable for those charges. To avoid this, have the authorized user piggyback onto a card with a low credit limit; this prevents out-of-control spending.

Shape your child's college career
Most education-advocating surgeons would love to see their child get into one of America's most selective colleges, such as Princeton, Harvard, MIT, or Yale. If you want to ensure your child does everything possible to get accepted, you may want to open your purse strings and hire an independent consultant. According to BusinessWeek, these consultants advise prospective student on how to stand out from the pack. They help with items such as what to put on a college application, what precollege courses to take, and what extracurricular activities to pursue. The advisor also preps teens for interviews and helps brainstorm compelling essay ideas.

The advisor's main goal is to figure out the child's best traits and how to use them to win over an admissions officer. The service can run upwards of $30,000, but most parents feel that they have gotten more than their money's worth if it leads to success. Despite the cost, 22% of new freshman at private 4-year colleges this year used an independent counselor.

Deciding whether to join the gold rush
As a surgeon investor, your eye has likely caught the headlines broadcasting the 25-year-high price for an ounce of gold. You may be tempted by claims that buying gold is a safe haven or an inflation hedge, having doubled in value in less than 2 years. A recent article in Newsweek advises caution before jumping on that band wagon. One expert quoted expects the weak dollar to push the price of gold up further by next year, but he still feels the gold market has gotten carried away. And, in terms of an inflation hedge, Treasure Inflation-Protected Securities are more likely to match the inflation rate. Though gold may hold its buying power over the long term, it doesn't always protect against inflation in the short term. If you are still interested in investing in gold, Newsweek suggests buying one of two "gold pegged" exchange traded funds—iShares COMEX Gold Trust (IAU) or the streetTracks Gold Shares (GLD)—for the price of a stock trade and 0.4% of your investment in annual expenses. Or, buy actual bullion at EverBank.com.

Savings advice for your graduating children
If you're a surgeon whose children recently graduated from college, you may have witnessed the casual spending of their first "real" salary. The Association of Independent Consumer Credit Counseling Agencies (AICCCA) provides tips to help recent graduates make sound financial decisions with their new income.

Make a plan—AICCCA considers a spending plan a map for staying on track financially. To prevent debt, it is important to keep track of your money flow. Bankrate.com offers advice on creating a plan.

Save—Saving may seem like an obvious step, but setting aside money each month is easier said than done, especially if there isn't a lot of it, and it requires self-discipline.

Repay debt fast—Pay off student loans and credit card debt as quickly as possible to avoid paying interest; then, avoid making additional charges.

Establish credit—Making purchases such as a home or car can be difficult without first establishing good credit. Save for purchases the old-fashioned way instead of whipping out the credit card, and avoid charging for anything you don't truly need.

Obtain insurance—Medical expenses were a contributing factor in more than 50% of bankruptcy filings last year, according to the AICCCA. Auto, health, life, renter's, or homeowner's insurance policies are important considerations if you want to maintain financial wellness.

Sign your mortgage on the digital dotted line
Surgeons who are taken aback by the mountains of paperwork required to secure a mortgage will be happy to know that soon they will be able to go through the entire process online, quickly and conveniently. CNNMoney.com says that these e-mortgages have been gaining momentum and should be widely available within the next few years. They offer several advantages over traditional paper mortgages. An e-mortgage can save considerable time not only by eliminating immense paperwork, but by transferring forms instantly and allowing more than one person to work with them. This can slash processing time from 6 weeks to only 2 or 3 weeks. Also, applicants are required to fill out only one set of standardized forms.

An e-mortgage can also save money. The elimination of all that paperwork cuts down on delivery costs and the cost of quality control, reducing the number of employees required to process an application. Hopefully, savings are passed on to the homebuyer in the form of lower fees and interest rates.