Abandoning Academic Medicine For Private Practice

It’s no secret that physicians in private practice often times make more money than their colleagues in academic medicine. For hospitalist, the difference in pay can be greater than $100,000 a year! However, taking a job in academia is not all about income. There are many benefits that academic medicine gives to doctors that private practice jobs can fall short on.… Read the rest

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When To Delay Contributing To Retirement Accounts

There are several occasions when it may make sense to delay contributing to tax advantaged retirement accounts. Tax advantaged retirement accounts include plans such as a 401k, or an IRA. For most people, it is in their best interest to invest in these retirement accounts. However for certain situations, it may actually make sense to delay contributing to these retirement accounts.… Read the rest

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401k Fees Really Do Add Up To Big Bucks

Now that I have my first attending job outside of residency, its time to set up my first 401k. I opted not to create one during residency which I discussed in my post about my retirement mistake during training. No need to dwell on the past, I’ve already learned from it and moved on. Looking forward, I plan to take full advantage of tax deferred accounts which means I will max them all out this year.… Read the rest

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New Calculators

This past weekend I spent some time creating online calculators for different financial situations. I’ve been using the loan payoff date calculator on other websites for a year now and wanted a quick way to calculate different situations on my website. Below you will find various calculators ranging from how long till you pay off your loan, to how much money will have potentially have saved for retirement.… Read the rest

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My Retirement Mistake In Residency

Retirement is something that, for the average resident, is rarely on their mind unless someone takes a special interest in personal finance and investing. On day one of residency new residents are often more concerned with student loans and preforming well during ones training than saving for retirement. My orientation included a week of lectures, some more interesting than others. One hour of these lecture was filled discussing retirement.… Read the rest

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