Budgeting & Financial Planning

average veterinarian salary

What is the Average Veterinarian Salary?

Key takeaways: The mean annual wage for veterinarians was $109,920 as of May 2021, according to the U.S. Bureau of Labor Statistics. District of Columbia is the highest paid state or district in the U.S. for veterinarians with a mean annual salary of $137,170. Veterinary ophthalmology is the highest paying veterinary specialty, with a mean …

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How to Improve Your Credit Score

How Doctors Can Improve Their Credit Score & Other Common Credit Score Questions

Key takeaways:  Your credit score can have a big impact on your ability to borrow money or open new credit cards.  Raise your credit score by making on-time payments, decreasing your credit usage, and keeping existing credit cards or other accounts open if possible. Panacea Financial does not use a doctor or doctor-in-training’s credit score …

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retirement savings for doctors

What is a 401k and an IRA? What Doctors Need to Know About Retirement Savings

Key takeaways: The most important part of saving for retirement is starting as early as possible. 401(k)s are employer-sponsored retirement accounts that are most beneficial when the employer matches a portion of the employee’s contribution. IRA accounts are individual retirement accounts that allow more freedom to invest on your own terms. Speak with an experienced …

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picture of credit card for credit card consolidation

What You Need to Know About Credit Card Consolidation for Doctors

Key takeaways:  Credit card consolidation takes multiple credit card balances and rolls them into one monthly payment. Doctors can often build up credit card debt in school and residency, which can quickly become toxic when not paid off. Personal loans are one option for consolidating credit card debt. Americans have over $840 million in credit …

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personal loans for doctors

Personal Loans for Doctors: What You Need to Know

Key takeaways:  Personal loans offer doctors money when they need it most for any need — credit card consolidation, application fees, relocation and more. Panacea Financial’s PRN personal loan was created specifically for doctors and doctors-in-training with a number of unique benefits. With examination fees, residency relocation costs and credit card debt, becoming a doctor …

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medical residency costs

How to Cover Expenses During Medical Residency

How to Cover Expenses During Medical Residency Key takeaways: Credit cards, borrowing from friends and family, moonlighting and personal loans are options to mitigate expenses during residency. All have their benefits and drawbacks. Personal loans from doctor-specific lenders can be a better alternative to expensive credit cards. Transitioning from medical school to residency can be …

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public student loan forgiveness for doctors

Pros and Cons of Public Student Loan Forgiveness for Doctors

Pros and Cons of Public Student Loan Forgiveness for Doctors Key takeaways: PSLF offers significant financial benefits to those employed full time by non-profit and government entities. Many doctors can get a headstart on fulfilling the required 120 PSLF payments while in residency. Those who pursue PSLF may encounter limited qualified employment options. Some doctors …

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Financial Mistakes ENTs

Three Financial Mistakes ENTs Should Avoid

Three Financial Mistakes ENT Should Avoid Key takeaways: Spend less than you earn. Pay off high interest debt before prioritizing investments. Don’t focus solely on paying off debt while ignoring other financial goals. Whether in the first year of practice or a tenured physician, otolaryngologists face unique challenges when it comes to their finances. Due …

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dentist salary

Corporate vs. Private Practice: Three Differences in Dentist Salary and Benefits

Three Ways Dentist Salary and Benefits are Different at Corporate and Private Practices Key takeaways: Private practice dentists earn more over time. Private practice dentists are more likely to be paid a salary. Corporate dentists are more likely to receive retirement and health insurance benefits. Preparing for a career in dentistry means more than just …

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Insurance article cover

Four Insurance Tips Every Doctor Should Know

Four Insurance Tips Every Doctor Should Know The past couple of years have left many of us with anxiety, fear and doubt. These trying times have helped many realize the importance of being prepared for unforeseen circumstances. Insurance is one of the most concrete ways to help yourself and your family be ready, no matter …

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