Physician Finance Minute

With the help of a financial planner, you'll be able to take advance of the various student loan products. Although, you have the ability to think strategically and tackle your student loans by yourself as well. 

Let's talk about student loan default. It means a failure to make payments on your student loans at their regularly scheduled intervals. And this is becoming more and more common. Statistics have doubled since 2013. It's tempting to skip payments, but these are the risks. 

Have you bought our book yet?! No? Learn how to build your own financial plan without paying thousands of dollars for a professional. Go to www.financialresidency.com/book

Your dream home awaits you… but wait, you got to finance it. Let Doug Crouse be your mortgage lender. He’s someone we know will hook you up! www.financialresidency.com/dc 

We’ve all heard it takes a village, especially when it comes to raising children. But children aren’t the only ones who need the benefit of a larger community. For those of us who are physicians or partners to those who are practicing, it can feel a bit lonely sometimes. You have the reality of a demanding career, a growing family, crazy hours, all while trying to figure out how to pay back the student loans you owe and manage your new income.

When you were a resident or fellow, chances are you were bombarded with solicitations to purchase a long term disability plan and for whatever reason, maybe you thought you could put off dealing with a disability policy. Hopefully, you took advantage of purchasing a policy at that time, but if not, let’s talk about why now is the time to make sure you have adequate coverage. 

Thinking about your credit score usually elicits one of two reactions- it either makes you confident that you’re in command of your finances or it makes you want to hide under the covers and wish you’d never needed credit in the first place. Well, it’s time to relax and realize that your credit score is a tool and an asset, and not something to be feared.

You want to be better at managing your money. We’re here to help! Please go to www.financialresidency.com/tip for interesting information on how to keep your good habits going!

We’ve seen a trend of physicians asking about home loans, but they’re aren’t sure who to go to for help. Doug Course helped my family get into our home. Find him here: www.financialresidency.com/dc   

It seems almost weekly that we find out about another big company with some type of data breach. It’s become so common that many people assume that it’s only a matter of time of when, not if, that happens to them. Sure, maybe you’ve contemplated what would happen if your bank account were hacked. If you’re living on a resident’s salary then they might not be able to wipe out as much as some other people, but that’s hardly a comforting thought either.

If you’ve ever interviewed a potential financial advisor, then chances are you’ve had your list of questions ready to go. After all, as a physician your time is valuable, so you need to be able to get right to the point, especially when it comes to your money. You’re probably prepared to ask about the big topics such as which licenses they carry, their fee structure, and what is their investing philosophy.