5 Things To Do Post Residency

Episode Notes

Amy Walls knows from her experience with the medical community that when a resident becomes a physician, it's often accompanied by a significant increase in income - sometimes over 500%.  This increase in revenue necessitates some financial planning - and today we cover 5 items every new doctor should do.

  1. Shore-up or Build a cash reserve
  2. Have a plan for student loan debt and know the consequences of that plan
  3. Obtain disability and life insurance policies.
  4. Start saving for retirement/know how much you need to save
  5. Start working on other financial goals.

Doctors are notoriously bad at saving and financial planning.  Like patients who find them, docs should seek out an expert to help.


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