Tag: Loans
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Should you rent or buy a home during residency and fellowship? This decision keeps many medical trainees awake at night. You’re earning a modest salary, carrying substantial student debt, and facing an uncertain future location. The financial stakes are high. Make the wrong choice and you could lose thousands of dollars or limit your career…
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Choosing between a fixed-rate and adjustable-rate mortgage (ARM) is one of the biggest financial decisions you’ll make as a physician. The wrong choice can cost tens of thousands of dollars over the life of your loan. Like many physicians, I faced this decision twice. When I bought my first home out of training, I chose…
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Moving to a new city for residency, fellowship, or your first attending job brings excitement and stress. You need a place to live, but timing your home purchase can feel impossible. Should you buy before you move? Wait until you arrive? What if you find the perfect house but haven’t sold your current one yet?…
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The One Big Beautiful Bill just passed both houses of Congress. This major legislation changes how student loan repayment works. As a physician, you need to understand these changes now. Current Borrowers: Your Repayment Plan Status Most physicians can breathe easier. If you’re already on Old IBR or New IBR, you stay put. Your payments…
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Introduction Let’s face it – becoming a doctor is expensive. The average medical school graduate walks away with over $200,000 in student loan debt. That’s like buying a house, except instead of a house, you get knowledge and skills! While the investment in your education will pay off over your career, managing those hefty student…
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Game-Changing IRS Ruling Opens Door to More Flexible Employee Benefits: What Physicians Need to Know
A recent IRS ruling has approved a groundbreaking “employee choice” benefits program that could revolutionize how healthcare professionals manage their workplace benefits. While currently limited to a single employer, this innovative approach could signal a major shift in how medical practices and healthcare organizations structure their benefits packages in the future. Understanding the New Benefits…
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The challenge of balancing debt repayment with savings goals represents one of the most complex financial decisions physicians face. With multiple types of debt carrying different interest rates and various savings objectives competing for limited resources, creating an optimal strategy requires careful analysis and prioritization. Understanding Your Complete Financial Picture Before making allocation decisions, create…
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As the landscape of student loan repayment continues to evolve, medical professionals need adaptable strategies for managing their educational debt. With significant policy discussions ongoing and potential changes to federal loan programs on the horizon, it’s crucial to understand current options while remaining flexible for future adjustments. Understanding Your Loan Portfolio Before implementing any repayment…