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Tuesday, December 18, 2018
  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...
For many medical couples, combining finances might be a big mental hurdle to overcome once they tie the knot. After all, you’ve been “on your own” through medical school, residency, or maybe even after training. You’re used to managing your own money, and you might even be accustomed to splitting rent, utilities, food, and other expenses while dating your other...
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...
Doctors, above anyone else, know exactly what an emergency looks like. If your PM is anything like mine, Im sure you have heard the stories... That time they did chest compressions on a kid while in medical school or the time when that mother delivered a baby before she could make it to her hospital room? Yep, those were emergencies. Of course,...
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...
SoFi Refinance
Being married to a busy professional typically comes along with student loans and tons of debt.  Friends of ours will often joke about how they would love to "roll in the dough" like we do.  What they almost always forget, is with a great job title and income typically comes an even greater debt load! DMD Lifestyle is proud...
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...
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...
How to teach your kids to value money with Fee Only Financial Planner, Ryan Inman Have you wondered how to teach your kids to value the toys or gifts that they ask for all the time? Have you wondered how to help your kids place a value on their grades or chores in exchange for an allowance? What about how to encourage...
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...

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