Post Category: Financial Planning
How Much Should Physicians Spend on Their Home To Avoid Becoming House Poor?
What Does A House Poor Physician Look Like? So you're pre-qualified for the million dollar home, but should you buy it? I'm sure you're not looking to become the next house poor physician, right? Yet, many physicians find themselves in this unfortunate position. Why?...
5 Physician Mortgage Loan Downsides You’ve Not Considered
Physician mortgage loans tend to get sold as the best deal. They’re positioned as a no-lose product that you’d be crazy to pass on; all the benefits of traditional mortgages but without the big down payment and at no extra cost. Add in the special provisions designed specifically for physicians and you’ve got the swiss army knife of mortgage loans. Sound too good to be true?
The Complete Guide To Physician Mortgage Loans
On the surface, physician mortgage loans look great. No money down. No jumbo limits. No private mortgage insurance (PMI). Finally, it seems like a product exists to reward you for your time training to be a physician. After all, it’s been tough. For the past few...
Can you maximize a 401k, 403b and a 457?
How much do you know about your retirement plan, or retirement plans in general? Questions about these plans come up all the time, and you might be surprised by what you don’t know! Q: Can I max out my 401k, 403b and 457b? Or am I limited to the $20,500 annual...
Should I Drop Out of PSLF?
Are you thinking about bailing out on PSLF? Before you sign on the dotted line, do yourself a favor and read this. So I’m talking with John. John has a big student loan balance... somewhere around $300,000. His work at a nonprofit hospital qualifies him for Public...
How to Change From IBR to RePAYE
Question: I’m planning to switch from the Income-Based Repayment “IBR” student loan repayment plan to Revised Pay As You Earn - “RePAYE”. How do I accomplish this without having any hangups? Well - this process varies depending on your circumstances: Scenario #1 If...
Uncle Sam’s Retirement Matching Program For Residents
“The Retirement Savings Contribution Credit” - never heard of it, right? This little known tax credit can provide further incentive to fund retirement plans for a segment of medical residents. Let's find out if you might qualify. What is this “Savers Credit”?The...
7 Habits of Our Most Successful Clients
The ability to help guide people during their journey and assist them in achieving their goals is a privilege, and we wanted to share some of the habits of our most successful clients.
13 Mistakes Young Physicians Make With Student Loans
Medical school loans have quickly become the most complex financial issue facing young physicians. The average physician in training owes well over six figures. And these aren't your normal run of the mill loans. Student loans today come with high interest rates and...
How Will the 2018 Tax Changes Affect You?
2018 is bringing with it some new, big tax changes. But what exactly does that mean for you? We have highlighted ten big changes that are most likely to affect you this year.