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
How Much Disability Insurance Do I Need? A Guide For Physicians and Medical Students
For most people, the need for disability income insurance is a pretty straightforward calculation: Nearly anyone with a whole career in front of them and relatively little in savings – the usual situation with workers in their 20s, 30s and early 40s – needs as much as the insurance company will sell
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
Five Ways To Save on Disability Premiums
Disability insurance is a critical asset for physicians. There are literally millions of dollars on the line for any future or current physician who has most of a career ahead of him or her. If you were to unexpectedly lose your ability to work in the medical profession – either by illness or
Do I Need Disability Insurance As a Medical Student?
That’s a question we are often called to address, and the answer is often “yes.” You may not need the same level of protection as people well into their medical careers, and unless you’re independently wealthy, we understand you can’t afford to pay unlimited disability insurance premiums. But we
How to Save Money as a Resident
We know how hard it is to balance the budget when you’re in residency. The average resident salary is around $50,000. There’s a compelling need to protect as much as $15,000,000 in future income as a physician against the very real risk of a career-wrecking disability that could happen to anyone –