Dental

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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student loans

How Has the Biden Presidency Affected My Student Loans?

Editor’s Note: This article was originally published in October 2020. We updated and revised the content on May 6, 2022 to provide the most current and accurate information. Student debt has doubled over the last ten years, ballooning up to $1.54 trillion, and becoming the second largest consumer debt type, placing it higher than both …

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buying a dental practice

What You Need to Know About Buying a Dental Practice

What You Need to Know About Buying a Dental Practice Key takeaways: Buying a dental practice allows the owner to get started right away with the security of historical finances. New owners may face difficulty in adjusting policies and dynamics in an existing practice. New owners may need to update dated offices and equipment. After …

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starting a dental practice

What You Need to Know About Starting a Dental Practice From Scratch

What You Need to Know About Starting a Dental Practice  Key takeaways:  Starting a dental practice from scratch allows full decision making in all aspects of the business. Dentists starting a new practice may face a high risk of failure, unplanned expenses and increased competition. Having professional support and a clear plan can help your …

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This is a picture of a dentist examining a patient's teeth.

Pros and Cons: Starting a Dental Practice vs. Buying an Existing Practice

Starting a Dental Practice vs. Buying an Existing Practice Key takeaways: Buying an existing dental practice: Advantages include being able to work immediately, avoid patient acquisition, have knowledge of historical financials, and receive mentorship. Disadvantages are a potential need for updates, inherited practice culture and reputation, and previous management adjustments, Starting a dental practice: Advantages …

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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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buying a dental practice

Eight Steps to Successfully Buying a Dental Practice

Eight Steps to Successfully Buying a Dental Practice Key takeaways:  Start the process with a team of experts to assist you. Once the purchase is finalized, don’t wait to create a legal business entity, obtain insurance and other essential business tasks. Remember the end goal: serving patients. If you are considering dental practice ownership, you …

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