Archive For: Personal Finance

How Much Disability Insurance Do Physicians Need?

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, and that’s ... Read More
 

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