Financial Related Items
Being a doctor is more than about treating patients. We have spent all of our time and youth gathering the education to become a doctor. We have watched friends who had much shorter educational paths grow in their career, both through experience, promotion, and monitarily. However, once we graduate residency and fellowship, we (should) have a new windfall of income. But what should we do with it? How do we make up the lost time and lost income from our twenties?
The information below is for everyone in the medical profession regardless of stage of career (medical student, resident, fellow, new or seasoned practitioner) and specialty.
Below are some topic to consider:
The information below is for everyone in the medical profession regardless of stage of career (medical student, resident, fellow, new or seasoned practitioner) and specialty.
Below are some topic to consider:
- Student Loans
- Investing and Retirement (401k, 403b, 453 retirement accounts; IRA Accounts / Roth-IRA; Brokerage/Investing Account)
- Setting Up A Business (LLC, 1099-income)
- Investing In Your Children (529 plans; Real estate/home ownership)
Financial Related Websites:
*You are never too early and (hopefully) never too late to increase your financial literacy and plan for the future and retirement, no matter what phase of the game you are in.
- White Coat Investor - website created by ED physician Dr. Jim Dahle. The site has information about investing, insurance, disability, housing, etc. Dr. Dahle has built a network of referrals, articles, and information to hit all the initial topics one should be considering. He has written two books (must reads), offers a podcast, and financial seminar courses.
- Other websites include:
- Passive Income MD
- Physician on FIRE
- Financial Residency (blog, podcast)
- DiverseFi
- Crispy Doc
- MoneyMow - The 30 fastest growing personal finance blogs of 2019 (Carl Jensen, April 16, 2019)
*You are never too early and (hopefully) never too late to increase your financial literacy and plan for the future and retirement, no matter what phase of the game you are in.
MISC Blogs and Articles
- "Financial planning for last year of training physicians" via Wealthkeel, LLC.
- Life after residency: get your finances in order. 25 March 2015. AMA.com
- The 30 fastest growing personal finance blogs of 2019 - based on data. Carl Jensen, 16 April 2019. MoneyMow
Financial Disclaimer:
This section is provided as a helpful guide on what issues you should explore either with a financial adviser, attorney, or accountant. These parties can/should help you sort out the financial matters related to your financial situation, accounts, and "Employment Agreement." Of note, the information on this website is not providing legal advice, and you should contact your leagal professional regarding the legal matters of finances regarding an "Employment Agreement."
This section is provided as a helpful guide on what issues you should explore either with a financial adviser, attorney, or accountant. These parties can/should help you sort out the financial matters related to your financial situation, accounts, and "Employment Agreement." Of note, the information on this website is not providing legal advice, and you should contact your leagal professional regarding the legal matters of finances regarding an "Employment Agreement."
