Archive For: Personal Finance

Choosing the Right Executor for Your Estate

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. An executor is the person legally responsible for fulfilling the deceased’s financial obligations and for overseeing the distribution of assets according ... Read More
 

A Medical Resident’s Guide to Mortgage Rates

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

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
 

How Much Does Malpractice Insurance Cost?

Regardless of your area of medicine, one thing all physicians worry about is the possibility of a malpractice suit. It’s bad enough when mistakes happen and things go wrong with a patient in your care. Being slapped with a malpractice lawsuit can make the experience even more devastating. And that’s why malpractice insurance coverage is ... Read More
 

How Female Physicians Can Counteract the Gender Pay Gap

Each year, national reports on physician compensation confirm the persistence of the gender pay gap in medicine. Across all regions and within virtually every specialty, female physicians continue to earn less than their male counterparts. According the 2018 Medscape Physician Compensation report, male doctors netted nearly 18% more income than female doctors. For specialists, the ... Read More