Over the course of your career as a physician, your income will change quite a bit. Compared to your days in residency, your income as a practicing physician can be double, triple or even more of what you used to make. In general, earning potential for physicians is high, but it also comes with some risk. Here are some ways you can protect yourself throughout your career, and Continue Reading
Updating Your Physician Estate Plan
Your estate plan is the comprehensive guide to your wealth and property when you pass away or become incapacitated physically or mentally. Whenever you experience big life changes – marriage, divorce, buying a home, death of a loved one, birth of a child, etc. – it’s important that you update your estate plan to reflect those changes. As a physician, there are a few other areas to pay attention Continue Reading
New Physician Financial Success Tips
After years of medical school, training and a lower salary, it can be jarring to finally get settled into a position (and a higher income.) As a new physician, you’ll have to adjust your mindset and your habits to manage your money effectively. Here are some tips for successful money management when you graduate from a resident or a fellow to a practicing physician: New Physician Financial Continue Reading
Physician Finances: How to Avoid Lifestyle Inflation
You’ve endured years of medical school, grueling schedules and lower pay. Once you’re finally earning money as a full-time physician, it can be tempting to upgrade your lifestyle accordingly. This is called “lifestyle inflation,” and it’s a money downfall that many doctors are all too familiar with. It doesn’t matter how much money you make if your expenses keep you broke. Here are some tips to Continue Reading