I am a big fan of what many banks refer to as the “doctor loan” or a “physician loan” that is available from banks as a loan on your primary residence. A doctor loan allows physicians to buy a house with less than 20% down and does not take student debt into account. This is ideal for many new physicians since most physicians graduate with a substantial amount of student dent.… Read the rest
I am a big fan of what many banks refer to as the “doctor loan” or a “physician loan” that is available from banks as a loan on your primary residence. A doctor loan allows physicians to buy a house with less than 20% down and does not take student debt into account. This is ideal for many new physicians since most physicians graduate with a substantial amount of student dent.… Read the rest
Maybe you are already a practice owner. Or maybe you are thinking of owning your own practice. Maybe you are just curious what the 2-year penalty is all about. For those of you thinking of owning your own business, congratulations! It is absolutely worth it, if you like the business side of medicine. However, there is a huge downside beyond the work that it takes to run a business.… Read the rest
Hindsight is always 20/20. I remember graduating from residency, starting this blog, and really trying to minimize investments that I got wrong. While I was not perfect, I would like to highlight mistakes that most doctors make. Some of these mistakes listed below are from personal experience.
Many of the reasons might not be as obvious as you think. Yes, we all know it is not a good idea to go out and buy a new speedboat right away.… Read the rest
Let us have a post that looks closer at the “cost of doing business.” Also called financial losses for medical practices.
You may have heard this term before, but it is essentially the financial hit that one takes while running a business.
Every company has these costs. Think of the last time you were at a restaurant, and they messed up your order.… Read the rest
Rather than starting your own practice, it is much more common to take a job where there is a potential buy into the practice. Today’s post is going to go through everything you need to know when you are thinking about buying into a medical practice.
Be warned. Today’s post is going to be a long one but a fun one!… Read the rest
There is a lot of growth and change required from when a doctor is in training to being an attending. Often there is a lot of stress that goes along with this change. The feeling of being out on your own, no safety net of your program anymore is a weird feeling when you first make that transition.
I wanted to look back at the things that I wish I would have known upon graduating residency about the practice of medicine or my life post-graduation.… Read the rest
I am a big fan of what many banks refer to as the “doctor loan” or a “physician loan” that is available from banks as a loan on your primary residence. A doctor loan allows physicians to buy a house with less than 20% down and does not take student debt into account. This is ideal for many new physicians since most physicians graduate with a substantial amount of student dent.… Read the rest
