The First Paycheck At the end of June after you graduate from residency, if you start working right away, you may experience “sticker shock” when your first paycheck lands into your bank account. Whether you ever become wealthy or not depends on what you decide to do with that first paycheck. Show me what happened […]
It’s the happiest day of your life! Your wedding day… Best. Day. Ever. Smiles, hugs, the white gown, the champagne, the first dance, the cake, and the limo. Laughter peels through the air. Fleeting memories of vows and eager faces, music hanging in the air. Although, you could do without the bit of the mother-in-law […]
As a young medical student, you cannot wait to graduate and get to residency. A huge paycheck awaits. Maybe you are sitting there reading this and you are now transitioned to practice. You’re struggling with financial decisions. You are wondering whether you should put money here or there or there or here. It’s so confusing! […]
Imagine this, picture this. You’re finally done with medical school! Dreams of reclaiming your time & diving into your profession, doing what you love are filling you with more and more excitement. You’re going to get paid! Well… maybe, not a whole lot, but you are still getting paid! Yet, in this transition to residency, […]
It’s almost that time of the year again! The snow is almost done falling. It’s melting into big puddles for our kids to stomp in. The birds and bees are coming back out. The trees are budding. Spring is upon us. As many residents and fellows are inking their first contract, they are inevitably dreaming […]
You’re in bed, tossing and turning. You can’t sleep. You feel like you are in a financial prison, constrained by the shackles of debt and trying to still have fun and enjoy life, but every month is hard and you feel like you are just getting by. Perhaps, you feel like you are dragging a […]
Today’s world is an incredibly tax-unfriendly & environment for physicians. By increasing your taxes due to the provisions of the Affordable Care Act, Uncle Sam is out to get even more! However, the good news is that there are several steps that you can take to be proactive and keep more money in your pocket. […]
You’re in bed, tossing and turning. You can’t sleep. You feel like you are in a financial prison, constrained by the shackles of debt and trying to still have fun and enjoy life. You’re wondering, how the heck am I going to break out of this joint and have financial freedom? In my previous article, […]
According to the American Medical School Association, 86% of medical school graduates carry educational debt and the median debt burden is $155,000 for public school graduates and nearly $185,000 for private school graduates. How can a young physician balance the financial stresses of overwhelming medical school debt with buying their first home, saving for retirement, […]
FINANCE BASICS: Trekking unprepared through a parched, dusty DESERT is a dangerous proposition. But with good planning, even the most driest patches on the planet can be tamed and so can your finances. Every physician faces financial challenges, whether struggling with a job change, a looming tax bill, school loans, a loss, or major family […]
