Financial Steps To Take For New Doctors

Graduating medical school, residency, or fellowship is an exciting time as you turn to the next chapter of your career. After all the years of hard work, the paychecks have finally started to roll in. The next problem is deciding what to do with the money from those larger paychecks. I previously wrote about financial changes from going to a resident to an attending.… Read the rest

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The Benefits of Locum Tenens For Saving or Paying Down Debt

I’ve decided to become more serious about my debt payoff and increase the amount of money I’m saving. The quickest and easiest way to do this is to pick up extra shifts. My company pays well, but the highest pay per hour in my area comes in the form of using Locum Tenens contracts. In order to accelerate my debt payoff and savings rate, I’ve decided to sign up for these jobs during my time off.… Read the rest

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Insurance for Medical Professionals Post Residency

I am happy to have a guest post for today’s article, written by Jamie K. Fleischner with Set for Life Insurance. Planning your financial future should include risk management. Part of risk mitigation is obtaining the right amount and the right kind of insurance. Spending money to help mitigate a one time financial loss that could lead to bankruptcy is on the surface a wise choice.Read the rest

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Financial Changes Going From a Resident Salary to Attending Salary

This weekend I met with a good friend of mine who decided to take a weekend vacation to Austin. It was a good time to catch up on how life has been going since we last had seen each other several years ago. We reminisced about the good times we had in medical school. Since he is also a new attending the discussion arose as to how life naturally changed with an increase in pay.… Read the rest

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What is in a physician employment contract

Signing the first contract out of residency or fellowship can be both exciting and anxiety provoking. Employment agreements, or as they are often referred to, physician contracts, are not as frightening as you think. However, with most things in life the devil is in the details. There are a lot of legal terms that are in the paperwork. Some contracts range from very verbose (the longest contract I received was 34 pages long), to quite short (shortest I received was 2 pages long).… Read the rest

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More Details: How I Spent My Emergency Fund

My last post focused on how my first months of residency have been financially. I included in that post that I ran out of money 3 months after residency despite having what I assumed was a healthy emergency fund saved up. After the post I received some emails asking how that could be since I previously mentioned that I had almost 6 months of funds saved up based on my assumptions of spending patterns.… Read the rest

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A Look Back At My First Few Months As An Attending

I’m back! I can’t believe it has been a month since my last post. Work became a little more time intensive than I anticipated which left me with little time to write for fun and this blog on the side.  Don’t worry,  I do plan on keeping up with the blog and keeping to a regular posting schedule in the future and I’m sorry for the delay.… Read the rest

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A Guide To Obtaining Your First Job As An Attending

 

This guide was written for residents or fellows who are near graduation and want a guide as to how to find the first job. I initially wrote this at the request of internal medicine residents who were wondering about the process of applying to their first attending job either as a hospitalist or primary care physician. The method of how to look for a job still applies to other specialties.… Read the rest

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Why you should have a lawyer review your employment agreement

Employment agreements, or a contract, is a written document that details many aspects of a physician working for a group. The agreement can have the physician as an independent contractor or as a paid employee. Beyond that, the devil can truly be in the details. Here are the reasons why you should have a lawyer look over this agreement before signing one.… Read the rest

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