According to the AAMC, 83 percent the class of 2016 left school with more than $100,000 in debt. If you are like the majority of medical school graduates out there, you're probably saddled with a good amount of student debt. Of those students, 44 percent plan to enter a loan forgiveness or repayment program. Consolidating and refinancing are just two of those options. To learn about these two payment plans, continue below.
As health care professionals committed to ethics, it may not occur to physicians that their financial advisors don't adhere to the same principles. Advisors serve the best interests of their clients, and if you are not on top of the nuances of the financial advice industry, you may find yourself in a conflict of interest. Continue below to learn more about finding advisors who care as much about ethical practices as you do.
Though there may be little you can control in the realm of investing, there are at least four things that you can. They include knowing your risk tolerance, being aware of how tax rules affect your investments, being mindful of the fees you pay, and looking for conflicts of interest in your advisor. Tending to these four considerations will increase your chances of success.
Medical professionals are among the millions of Americans who confuse the financial products they own with having a retirement plan.Â Unfortunately, most individuals donâ€™t have a plan. Instead, they own a variety of products theyâ€™ve been sold by a commission-based financial advisor, broker or insurance representative â€” who often is a salesperson masquerading as a financial planner.