The medical residency life is stressful. The hours are long. Every moment spent outside of work is precious. The pay is limited, and there are still student loans to deal with. With all these pressures,…
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Should I Rent or Buy My Home in Residency?
Many in the medical community believe residents and fellows should buy their homes – purchasing in the transition period between medical school and residency. This group often has the opportunity to take advantage of “physician…
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Disability Insurance Basics for Residents
We use insurance to protect many things in our lives – from jewelry to cars to homes – but many of us don’t think about protecting our most important financial asset: our ability to earn…
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15 Tips for Surviving on a Medical Resident’s Salary
Are you serious about living within your means and maximizing your resident salary? Here are 15 tips to get you moving in the right direction! 1) Determine what you’re working with In our area, the…
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Tackle Student Loans Sooner Rather Than Later
Even though physicians often earn hefty six-figure salaries, many graduate with a mountain of debt. According to the AAMC, 79% of physicians graduating in 2015 will face debts of over $100,000. Forty-three percent will be…
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How Do Financial Advisors Get Paid?
When looking for the right financial advisor, it can be tough to know where to begin. You know that you’d like help with your money, but you want to know that your advisor is giving…
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Should You Pay Off Debt, Build Up Savings, or Invest?
You made it through school. You’re a young professional working in the career you were trained for, and through your work you’re finally earning enough money to have a discretionary income. You really want to…
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Recommended Reading
We often receive requests for book suggestions related to personal finance, investing & financial planning. This is our most current recommendation list sorted by category. Investing The Investment Answer -Goldie & Murray All About Asset…
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What Is a Fee-Only Financial Advisor?
Simply put, a fee-only financial advisor is one who is only compensated by client fees. They do not receive commissions by selling products from insurance companies, brokerage firms, or mutual fund companies. Fee-based advisors are…
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Simple Steps to Budgeting Your Money
Look at our society. Everyone wants to be thin, but nobody wants to diet. Everyone wants to live long, but few will exercise. Everybody wants money, yet seldom will anyone budget or control their spending….
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When Should You Hire a Financial Advisor?
If you want to do more with your money and achieve your financial goals with confidence, assembling the right team to help you is critical. Many people feel uncertain about whether or not they should…
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3 Methods of Eliminating Student Loan Debt
Student loans are downright scary for many people. According to the AAMC the median student debt load for a 2014 medical school graduate is 180K. Throw an interest rate of 6%+ on top and you…
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