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 …
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 …
How Doctors Can Improve Their Credit Score & Other Common Credit Score Questions Read More »
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 …
What is a 401k and an IRA? What Doctors Need to Know About Retirement Savings Read More »
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 …
What You Need to Know About Credit Card Consolidation for Doctors Read More »
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 …
Personal Loans for Doctors: What You Need to Know Read More »
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 …
How Has the Biden Presidency Affected My Student Loans? Read More »
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 …
Pros and Cons of Public Student Loan Forgiveness for Doctors Read More »
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 …
What is going on with student loans for medical, dental, and veterinary school? On March 27, 2020, the CARES Act was signed into law. The $2 trillion piece of legislation provided the first set of sweeping relief measures early in the COVID-19 pandemic. One of the hallmark pillars of the CARES Act was …
Will Biden Extend the Medical, Dental, and Veterinary Student Loan Payment Pause? Read More »
What Can I Use a PRN Personal Loan For? Becoming a medical professional such as a physician, dentist, or veterinarian is an extremely rewarding career path. But it can also be financially draining as you complete your schooling and transition into residencies and fellowships for several years. While the long-term earning potential is high, the …
