How Moving Can Help Physicians Pay Off Student Loans

October 18, 2022October 17, 2019 by Justin Nabity

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In 2018, the average student loan debt for a medical school graduate was a whopping $190,694. Moreover, for a physician with a loan balance of $190,694 on a standard 10-year repayment plan, monthly repayments would cost about $2,000. Looking at these figures, it’s understandable why most new doctors are anxious to secure an attending position. … Read more

Your Comprehensive Review of the ADP 401k

September 11, 2025September 6, 2019 by Justin Nabity

As a physician operating a small practice, it’s important to provide your employees with the benefits they deserve. One of the most desirable benefits is a sound retirement plan.

The ADP 401k plan is a well-known option, in part because it’s one of the largest providers offered by a national leader in payroll and retirement services.

But is it the right plan for you?

Perhaps you’re ready to create a new retirement plan for your employees. Maybe you’re looking to change from the plan you currently have.

ADP retirement services are an option worth considering, yet they certainly get mixed reviews.

Today we’re taking a hard look at the ADP 401k plan.

Keep reading to learn everything you need to know before deciding if the ADP 401k plan is right for your practice and employees.

How to Manage Student Loans During Residency

October 18, 2022July 29, 2019 by Justin Nabity

Attack Student Loans During Residency For doctors who are finishing their residencies and beginning their practices, there is often no greater stressor than looming loan repayments. The average physician finishes medical school with more than $190,000 in debt. And the prospect of beginning loan repayment while earning a resident’s salary is daunting for young doctors. … Read more

The Pros and Cons of Paying Off Your Mortgage Early

December 10, 2024May 21, 2019 by Justin Nabity

Most people dream about the day they finally pay off their mortgage. After years and years of monthly payments, it feels pretty good to sign that last check.

So, you’d think that paying off your mortgage early would make sense, right? If you’re a physician with a hefty monthly salary, wouldn’t you want to pay it off ASAP?

Well, not necessarily.

If you have the means, it’s tempting to pay off your debts in one lump sum and stop worrying about monthly payments.

However, paying a lump sum (or a series of lump sums) isn’t always the way to go.

In fact, it might even be detrimental to your finances. Depending on your situation, it may or may not be a good option for you.

5 Ways for Doctors to Save on Taxes

October 19, 2022April 2, 2019 by Justin Nabity

A physician’s busy schedule doesn’t slow down for tax season, and most doctors don’t have time to sift through every potential write-off or tax credit to save money. As a result, doctors usually pay significantly more in taxes than others in the same income bracket. Even with high average salaries, doctors still have to plan … Read more

What’s Missing in Your Financial Plan?

November 18, 2024December 17, 2017 by Justin Nabity

As a physician, what key elements are missing in your plan to get on track and stay on course for success? There’s no denying that physicians have a greater opportunity to earn a great living and build wealth than most people. However, they also face several challenges, such as the initial delay in starting their … Read more

Volatility Is Not Risk

August 22, 2022April 28, 2016 by Justin Nabity

Volatility Is Not Risk You should not confuse the two. What is risk? To the conservative investor, risk is a negative. To the opportunistic investor, risk is a factor to tolerate and accept.Whatever the perception of risk, it should not be confused with volatility. That confusion occurs much too frequently. We can consider volatility … Read more

The Doctor’s Life Podcast 021- Maximizing Your Roth IRA

June 27, 2024April 11, 2016 by Justin Nabity

Roth IRA Podcast

Many physicians believe they can’t do a Roth IRA. Sure, there are income limits on Roth IRAs, but there is a rule that turns out to be a nice workaround to help you maximize your Roth IRA.

Justin Nabity is in The Doctor’s Life Podcast studios to help you with your Roth IRA info and that workaround. All episodes of The Doctor’s Life Podcast are available here, iTunes, Android, and on SoundCloud.

Listen to this podcast on Maximizing Your Roth IRA here.

Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

The Doctor’s Life Podcast Episode 008- How’s Your Financial Health?

June 27, 2024January 12, 2016 by Justin Nabity

It’s that time of the year when you’re looking at bills from the holidays, maybe a job offer or going after a job offer, and tax season is starting to roll around. It’s time to ask yourself about your financial health. Sometimes you have to be brutally honest with yourself when assessing your financial health.

Nick Schneider is in studio this week to help you determine your financial health.

All episodes of The Doctor’s Life Podcast are available on iTunes and SoundCloud. If you have an Android device, you can download a podcast player (I recommend Podcast Addict), and it will pull from iTunes. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

The Doctor’s Life Podcast Episode 006- Capitalizing On Your 401k

November 15, 2022December 22, 2015 by Justin Nabity

401k. Those three numbers and a letter makes most of us excited yet completely confused. Your 401k is a solid investment tool that employers provide, yet, if it is not done properly, means you are setting yourself up for failure later on when you close in on your retirement. Did you know you can actually change what is on your 401k throughout your career? It makes sense, but how do you change-up your 401k? Nick Schneider is hopping on to The Doctor’s Life Podcast to give you a run down on the life of your 401k.

All episodes of The Doctor’s Life Podcast are available here, iTunes, and on SoundCloud. If you have an Android device, you can download a podcast player (I recommend Podcast Addict), and it will pull from iTunes.

Roth IRA Podcast

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