The Full Breakdown to Medical School Student Loans

November 28, 2022July 19, 2021 by Justin Nabity

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.

Read this: How to Write a Medical School Letter of Intent

Moonlighting Medical Residents: Side Gigs to Make More Money

January 6, 2025July 8, 2021 by Justin Nabity

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.

A Financial Advisor’s Review of Infinite Banking

November 26, 2024June 28, 2021 by Justin Nabity

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

January 3, 2025April 29, 2021 by Justin Nabity

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

Suspended Student Loan Interest Rates

January 3, 2025March 19, 2021 by Justin Nabity

Student Loan Debt Our nation has 45 million borrowers with student loan debt. Luckily, due to the pandemic, many physicians dealing with student loan debt have found themselves in a comfortable limbo of sorts thanks to the CARES Act. “Too many Americans are struggling to pay for basic necessities and provide for their families,” the … Read more

How Much Disability Insurance Do Physicians Need?

August 22, 2023August 28, 2020 by Justin Nabity

Malpractice insurance, auto insurance, health insurance, business insurance, homeowner’s insurance: physicians are required by law to carry various insurance policies. Many other important insurance policies are completely optional.

And one of those optional insurance policies is disability insurance.

Yet as a physician, you shouldn’t think of disability insurance as an option at all. That’s because it’s one of the single best ways to protect your finances and protect your income.

But how much disability insurance do you actually need? When should you get it? Do you need it forever?

Today we’ll be answering the question that many physicians have: how much disability insurance do physicians need?

5 Steps to Organize Estate Documents for Your Executor

August 7, 2023May 28, 2020 by Justin Nabity

5 Steps to Organize One of the greatest gifts you can provide for your loved ones is careful planning and organization of your estate documents. In preparation for your passing. During a time of grief, it can be incredibly stressful for your executor to identify and locate all your most important paperwork and assets. While … Read more

Choosing the Right Executor for Your Estate

June 27, 2024February 19, 2020 by Justin Nabity

When it comes to estate planning, most physicians are familiar with the importance of establishing a legal will. However, many doctors overlook another key aspect of estate planning: choosing an executor for your estate. Accordingly, an executor is the person legally responsible for fulfilling the deceased’s financial obligations and for overseeing the distribution of assets … Read more

A Medical Resident’s Guide to Mortgage Rates

September 28, 2023December 2, 2019 by Justin Nabity

brina-blum-nWX4pKwzLoE-unsplash-1-scaled

Physician mortgages are loans designed to make homeownership possible even for new doctors and medical residents. Most doctors make serious financial sacrifices for their career path, including taking on an average of $190,000 in student debt and forgoing a full salary in their early adult life. Typically, this financial situation (high debt, little savings, short … Read more

A Step-by-step Guide to Physician Work-Life Balance

October 18, 2022November 25, 2019 by Justin Nabity

For most physicians, medicine is more than just a career: it’s a calling. However, being passionate about your profession can come as a double-edged sword. On one hand, your work is extremely stimulating and fulfilling. On the flip side, it can be difficult to set healthy boundaries between work and the rest of your life. … Read more

Collaborate with the experts at Physicians Thrive.

Contract Services

Protect Yourself

Manage Your Money

Practice Management

Get connected. Join Us.