Credit scores are an incredibly important financial tool. Many doctors, especially trainee and early-career doctors, are burdened by a low credit score because of the significant debt they take on while receiving low pay. Credit scores affect your interest rate and options for personal loans, mortgages, practice loans and other banking products. No matter your …
Saving money is important to achieving short and long-term financial goals. There are numerous ways to save, and a high-yield savings account is one option for building your savings. For those unfamiliar with this financial tool, there may be questions about the security of it, when to use it, and how to find one. We …
Are High-Yield Savings Accounts Worth It? & Other FAQs Read More »
Most doctors graduate with significant student loan debt. There is plenty of information and advice accessible on the internet, but we asked three financial planners what is one thing they want to share with doctors about educational debt. Read what Meredith Jones, DVM, CSLP®, associate financial planner at Vincere Wealth and veterinarian, Benjamin Bush, CLU, …
One Thing Financial Planners Wish Doctors Knew About Student Loan Debt Read More »
Most physicians, dentists and veterinarians graduate with significant student loan debt. Some choose to pay off this debt early, while others use their money in other ways. We asked three financial planners what benefits and downsides they see with eliminating this debt burden early. Read what Meredith Jones, DVM, CSLP®, associate financial planner at Vincere …
Pros & Cons Of Paying Student Loans Off Early, According To Financial Planners Read More »
Federal student loan payments have now been paused for over two years. This lack of payment obligation has caused borrowers to use different strategies when handling the temporary extra funds. We asked three financial planners what they are seeing within the doctor community during this time. Read what Meredith Jones, DVM, CSLP®, associate financial planner …
How Are Doctors Handling The Student Loan Payment Pause? Read More »
Most doctors, whether physicians, dentists or veterinarians, graduate with significant educational debt. According to the Education Data Initiative, on average, physicians graduate with about $241,600 in debt, dentists with $292,169, and veterinarians with $183,302. The number of medical, dental and veterinary school graduates with educational debt is high, with 76-89% of medical school graduates and …
You’re Not Alone: Many Doctors Need Help Navigating Student Loan Debt Read More »
The Education Department on January 10, 2023, shared the details of the Biden Administration’s proposed reforms to the income-driven repayment program (IDR). During the initial announcement in August 2022, these reforms were overshadowed by the president’s plan for a one-time, set-amount loan forgiveness, despite these changes to IDR being potentially more beneficial in the long …
What Doctors Need To Know About Biden’s Income-Driven Repayment Plan Read More »
Refinancing your medical, dental, or veterinary school loans could save you money on interest, but it’s not always your best option. Loan forgiveness programs only apply to federal loans. If you intend on working for a qualifying institution full-time for 10 years and you have qualifying loans, you should pursue Public Service Loan Forgiveness. If …
As a Doctor, Should I Refinance My Student Loans? Read More »
Are you considering buying your first home? Homeownership is an exciting part of life that can be representative of your hard work. Homeownership can increase your overall net worth, provide you with attractive tax shelters, and provide you with security and a greater sense of well-being. But, it also typically means taking on a large …
Mortgage Basics For Doctors: What Is A Mortgage, How It Works & More Read More »
Since our establishment, we have been dedicated to not only providing excellent products and services built for the needs of doctors, but also sharing financial, lifestyle and professional resources that can help you throughout your career. We’ve compiled all of our articles on common financial topics and questions into one easy-to-access resource. Managing your finances …
Financial Tips For Doctors: Budgeting, Savings, Retirement & More Read More »
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