You would probably never hear any of them tell you, but most physicians are awful at personal finances. We’re talking about the most basic aspects of day-to-day financial management – budgeting, bill paying, balancing the checkbook, staying organized and looking for ways to salt away some money for
Warning to Young Physicians: Credit Cards can be Hazardous to Your Health
Your credit cards could be killing you. Seriously, a recent poll of 1000 adults revealed that the weight of their debt is causing stress-induced health problems that could easily lead to death. We know that credit card users don’t have a death wish, but with the average household credit card debt
Designing a Good Life for Young Physicians
A common mistake that many new physicians make when their earnings increase is, instead of increasing their savings by the amount of increase, or at least a proportionate amount, they add their pay increase to their lifestyle. Typically, people who don’t have a “purpose” for the next dollars they
Financial Success for Physicians Begins with a Winning Attitude
You would think that the main thing that separates the financial winners from the losers is money. Obviously, the more money people have, the more things they can buy, but that doesn’t necessarily translate into happiness. Even physicians who make a lot of money can find themselves at its mercy if
What’s the Best Life Insurance for Physicians? Just the Facts Please
With their unique financial needs, and with so much at stake, physicians need to have a thorough understanding of how the two primary forms of life insurance work. All of the various forms of life insurance – whole life, term life, variable life, universal life and the dozens of variations of each –
The Advantages of Owning Life Insurance for Physicians
The purchase of a life insurance policy will never make most physicians’ top ten list of favorite things to do. After all, there is a lot not to like in the whole process of buying life insurance. With hundreds of products from which to choose, it can be confusing. Insurance contracts can be complex
How to Choose the Right Investment Advisor
With the proliferation of investment and personal finance websites, physicians have access to a boundless number resources and tools once only available to financial professionals. And, while an increasing number of physicians consider themselves to be at least somewhat self-directed in their
Why Young Physicians Need Life Insurance
Life insurance is one of the most widely owned financial instruments because it can fulfill so many different needs. While the overriding need for most people is to provide financial security for those who are dependent in one way or another on a bread-winners income, the specific reasons people buy