Report: Average Med School Graduate Student Loan Balances Reach $246,000A student loan of a quarter of a million dollars.That’s the average debt incurred by today’s newly-minted doctors who graduate with student loan debt. A recent report from the National Center for Education Statistics found that
Most physicians we speak with understand the need for at least some individually-owned disability insurance. But there’s another important form of insurance protection that is growing more and more popular as physicians and employers see the need: Critical illness insurance for doctors.For proper
How Physicians Can Use a Health Savings Account for RetirementMost physicians have a pleasant problem: They make too much money per year to make fully-deductible contributions to a traditional IRA for retirement. Many earn too much to contribute to Roth IRAs as well.But there’s another less
Insurance Coverage Every Private Practice NeedsWhen a physician transitions from practicing as an employee to owning or being a partner/shareholder in his or her own private practice, the financial picture changes. A lot.As an employee, you’re sheltered from having to protect the business entity.
How To Use A Credit Card (And What to Look Out For)First of all, let’s get this out of the way: We know that for the vast majority of cardholders, credit cards are toxic to financial health. Unless you get one of those sweet introductory 0 percent interest deals for nine-months to a year, interest
It’s not just us saying it – Doctors should own long term disability insurance. And preferably they should have their own coverage, in addition to whatever coverage they receive from their employers.This is from a recent piece from Medical Economics:“Securing LTD coverage can be complicated,
The Tax Cuts and Jobs ActThe sweeping tax reform signed into law in the closing days of 2017, contains a number of tax breaks. The majority of middle class taxpayers will receive a significant tax cut as a result of the law, though a few readers may find themselves with little or no tax break.Let’s
When it comes to protecting your income against the risk of injury or disability, having the right policy matters.As a physician, chances are good that your ability to earn an income hinges on your physical ability to do things like these:Remain on your feet for much of the day.Retain excellent