Medical school pays off big for the vast majority of doctors who stay in medicine for their entire careers. But that doesn’t mean that medical school debt and student loan balances are fun. According to the New American Education Policy Program, the average medical school graduate begins his or her
How To Deal With Medical School Debt
In the long run, medical school is worth the investment many times over. But it sure doesn’t feel like it sometimes when you’re making those big payments! If you’re just starting out on your medical career, here are some things to keep in mind as you create a strategy to minimize the burden of your
Best End of Year Tax Moves for Doctors
Looking to reduce your overall tax liability, boost your cash flow, or both? Here are several strategies you can use to ease the tax hit on you and your family this year and going into 2024. 1. Make a small extra payment on your student loan before December 31 Why? Because interest on student
Social Security Disability Benefits Basics
Unexpected disability, whether through injury or illness, can wreak havoc on most family’s finances. The financial toll isn’t limited to the disabled individual’s lost wages (which alone can be a crippling hit for most middle class families where a breadwinner is the one afflicted). The costs can
What Type of Life Insurance is Best for Me?
The debate between advocates of permanent cash value life insurance and people who advocate buying nothing but term and investing the difference in premiums is one of the most hotly contested topics in financial services. Sadly, most of the back-and-forth we see out there generates more heat than
Debt Reduction – A Guide for Doctors
First of all, the term ‘getting out of debt’ is a misnomer. Sure, most consumer debt is bad, incurred at ridiculously high interest rates, and something you want to pay off as soon as possible, with a vengeance. What we really want to do is increase your net worth. That means you want your assets
The Five Principles of Disability Income Insurance for Doctors
Disability income insurance isn’t like major medical insurance, post Affordable Care Act. There’s no guaranteed issue if you apply within some open enrollment period. But it’s critically important coverage for young doctors to own. For the vast majority of physicians in their 20s, 30s and 40s, their
The High Cost of Student Debt
Make no mistake – your investment in a medical education is no doubt a wise one. For those who successfully complete medical school and stay in the field as physicians, your investment will no doubt pay for itself many times over, during the course of your career. For most of you, your investment in