As a physician, malpractice insurance is one of the best tools you have to protect yourself. No matter how skilled or experienced you may be in your field — mistakes can happen.
Manage Your Money
We support physicians’ career and planning from contract to retirement.
The Full Breakdown to Medical School Student Loans
Procuring the exact loan to pay for medical school can be difficult to maneuver.
Because your medical school student loan amount is often a significantly large sum, the smallest detail can save you thousands of dollars in loan repayments. It is wise to take some time to research your options, so you feel confident about the type of loan you choose.
Understanding your loan options is imperative at the beginning of your medical education. You should also reevaluate your situation as the years progress.
This article will breakdown various loan and repayment options so you can make an informed decision about your medical school loans.
Physician Tax Planning and Investment Vehicles
It is important for new physicians to understand the structures and tax-advantages of different employer-offered retirement plans. When you sign the employment contract for your first attending position, your financial situation can transform dramatically overnight. Along with a large raise, you can expect a considerable increase to your tax burden. To evaluate an employer’s retirement … Read more
Moonlighting Medical Residents: Side Gigs to Make More Money
As a resident physician, there’s one thing you can count on:
You’re going to earn a relatively small salary despite the long hours and hard work you’ll be putting in.
Residents earn a fraction of what licensed physicians make. And if you’re already burdened by student loan debt, these crucial years of residency training can be some of the most difficult ones to endure.
For many residents, the only way to get ahead on student loans and start saving for the future is to search for moonlighting opportunities.
As a physician, working a side gig, even if for only a few hours per week, can have a serious impact on your finances and your future.
Locum Tenens Coverage: Disability, Health, Malpractice and More
Working in medicine is unique in that the title of “physician” means many different things.
Some physicians work around-the-clock shifts in hospital emergency departments. Other physicians operate private practices and focus on primary care or preventative medicine. Some deliver babies, some treat cancer patients, and some perform invasive neuro or cardiac surgeries.
Yet, no matter what type of specialty you’re in, all physicians share one thing in common:
The ability to perform their work anywhere in the world.
Tech experts might be most in-demand in Silicon Valley. Professional actors are more sought after in LA than in Idaho. On the other side of the coin, physicians can work in any and every major city, small town, and rural part of the world.
The vast majority of physicians work full-time jobs in or near the city in which they live. But a growing number of U.S. physicians, approximately 40,000, choose to work locum tenens positions.
Working as a locum tenens physician has many benefits, but before you give up your job search or quit your full-time gig, there’s something you should consider:
What types of insurance will you need?
If you’re considering working locum tenens, here are the top five types of locum tenens insurance coverage you will need.
Retirement Accounts – Should I or Should I Not Rollover?
As physicians change employers, they face the “rollover” decision – to move their retirement accounts or leave them. Here are some key considerations when facing that choice. When you change jobs, everything you need to take with you can usually be packed into a couple boxes for your move. Everything except your employer-sponsored retirement plan. … Read more
A Financial Advisor’s Review of Infinite Banking
When most people need a loan, they apply for a line of credit through a traditional bank and pay that loan back, over time, with interest.
But what if you could take a loan from yourself? What if you could avoid the big banks altogether, be your own bank, and supply yourself with your own line of credit?
For physicians and other high-income earners, this is possible to do with infinite banking.
Infinite banking isn’t for everyone, but it does provide some unique benefits. Here’s a financial advisor’s review of infinite banking and all the pros and cons involved.
A Physician’s Guide to Building an Emergency Fund
While a career in medicine is often financially rewarding, it also often comes with significant debt from student loans. Students in the process of becoming physicians must make substantial investments in their own education. However, this should not come at the expense of saving for essentials and emergencies. It is universally understood that having an … Read more
7 Alternative Jobs for Physicians
Are you burnt out from years of working long hours? Do you want to step away from clinical practice?
You’re not alone. Many doctors suffer from burnout.
After all, practicing medicine is demanding work. It certainly doesn’t have the best work-life balance of any career out there. A lot of physicians come to a point where they want to change career paths.
But, a career change can seem daunting. What field are you supposed to go into after working as a doctor?
Luckily, there are plenty of alternative jobs for physicians! Whether you’re a rookie or a veteran, there are a ton of challenging and fulfilling jobs you can move into. You can put your expertise to work in places other than direct patient care.
Which Physician Specialties Retire Early?
Though it sometimes doesn’t seem feasible, physician retirement is possible. And for physicians in certain specialties, retiring early isn’t just a dream — it’s a reality.
Some specialties, particularly those with a shortage of physicians, have a high rate of doctors well over retirement age.
Yet, others tend to see physicians retiring earlier in their careers.
Whether you’re a medical school student deciding on a specialty or a practicing physician who has been planning for decades, there are some ways to retire earlier than you may think.
Today we’ll answer the question that so many physicians, residents, and medical students want to know:
Which physician specialties retire early?
