Monday, May 21, 2018
Graduating from residency and starting your career is a busy time, but it’s also a time when you’ll experience a large income jump, when your student loans will be due, and when you’ll start to feel the pressure of lifestyle inflation. So, although you’re busy taking care of others, don’t forget to take care of you too. Below are some...
Hiring a financial advisor is a big decision. After all, you’re hiring someone to help guide you through some of life’s biggest decisions. Your financial advisor can help you decide what type of car and house you can afford. You’ll go to them to make sure you’re saving enough for your children’s college education. You’ll even seek their advice on the...
physician wealth services buying a car personal finance doctor
Whenever I meet with a client for the first time to create their financial plan, the topic of buying a car always comes up. My clients usually want to know how much can they afford to spend on a car, and what is the best way to buy a car. They want to feel like they’re getting a great...
As physician families, sometimes it can feel like you’re constantly paying taxes. For as hard as you work, this can definitely be a drag. Luckily, when it comes to your retirement accounts, there is a way to grow your retirement money tax free, allowing you to keep a significant amount of your gains over the years. Under current law, the...
physician surveys
As a physician, I am always looking to supplement my income. Surveys are a great way to do that on your off time. Initially, it was hard to find surveys that paid well and/or catered toward physicians. Over the years, I have compiled a nice list of physician survey sites and their specific contact information. Some physician surveys can...
There’s nothing more exciting than matching into a residency program, especially after four years of enduring medical school. Plus, with that new work contract often comes new colleagues, a paycheck for the first time in a long time, and perhaps a new city to live in. This is also the time that many young doctors think about buying their...
It’s hard to find quality financial advice that is specific to physicians and student debt. That’s one of the reasons I started my firm, Physician Wealth Services. It’s also why I was so angry when a client sent me this clip from the Dave Ramsey show where a young doctor called in and got terrible advice. If you’re not familiar...
credit card, physician wealth services
Many medical students and residents use credit cards throughout their training to help cover their expenses, and if that’s you, you’re not alone. In fact, the average credit card debt for a U.S. household carrying a balance is over $16,000. In addition to having debt, many Americans have more debt than savings too. If this is you, you probably realize...
Over the past few days, I’ve received several e-mails and phone calls from my physician clients asking me what to do about the Equifax data breach. So, I thought it was important to quickly explain what the Equifax data breach means, and what to do if you think your information might be compromised. WHAT IS THE EQUIFAX DATA BREACH? Equifax is one...
  The younger physicians I help with their financial planning often have questions regarding saving for college for their children. So, I thought it would be helpful to write a post to explain what a 529 college savings plan is and if it’s even worth opening. Like everything else in financial planning, the answer to this question will really depend on...

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