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…
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13 Mistakes Young Physicians Make With Student Loans
3 Ways Doctors Can Increase Their Savings Rate Without Cutting Expenses
Building wealth is simple: make more than you spend and invest the difference.
There are two ways to increase your savings rate: spend less or make more. There are also two ways to earn more income: work more hours or earn more per hour.
3 Personal Finance Habits of Highly Successful Young Physicians
Why Doctors Aren’t Allowed To Sell Prescriptions
Everybody knows the doctor’s role. They provide medical advice and services to patients. Patients pay doctors either directly or through insurance based upon the services provided. The drug rep plays a different role. They sell…
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Financial Advice For Physicians Making Big Decisions: Start With “No”
But it’s SO easy to say YES! Yes, I’ll buy the new, big house. Sure, I’ll pay for my kid’s extra activities. Okay, I’ll also buy the new car. Fine, I’ll invest in your startup….
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The Resident Physician’s Guide To Selecting a Student Loan Repayment Plan (with REPAYE update)
For starters, it’s complicated! Check out our Physician’s complete guide to medical school loans for more details. For now, we’re just going to focus on the new repayment plan, RePAYE. Late in 2015, RePAYE was introduced for…
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5 Reasons Forbearance Is A Terrible Idea During Medical Residency And Fellowship
Using a Values-Based Lens to Identify Financial Blindspots
It’s difficult to self diagnose your own problems. Especially the deep rooted issues. How many people with serious illnesses caused by their own choices show up at the hospital and say something like… “Hey Doc,…
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Comparing Term Life Insurance Strategies For Physicians
The most common type of term life insurance among physicians is level term. Often, it’s purchased and forgotten about. But is this the best strategy? In this post, we will compare several different strategies physicians…
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How Traditional Financial Services Take Advantage Of Doctors
Many people in financial services are not looking out for your best interests. I wanted to share a real story from a client we work with to help show you what’s happening. This type of…
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How Young Physicians Should Determine the Appropriate Amount of Life Insurance Coverage
Most people have the wrong amount of life insurance. Young Physicians seem especially prone to this issue. Massive income and lifestyle changes paired with aggressive savings rates and wealth building cause circumstances and needs to…
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