During the summer of 2024 stock markets were in the news. The Standard and Poor’s 500 (S&P 500) fell about 6% between July 31st and August 5th of this year. The news media was quick to panic—they always do.
Going into practice is a busy time in the career of a young physician or dentist. We get lots of questions about what they can do during this time to start off on the right track. One key to success is reviewing the data behind the decisions we make. In medicine, this could mean recognizing that your blood pressure is too high, therefore you change your\habits or medications to improve your overall health. Similarly, doing a “financial check-up” can ensure long-term success with money. The most pivotal time for a checkup is during the transitionary period of going into practice. We’ve broken the financial check-up into six key categories:
Now that summer is coming to an end and students are headed back to school, it’s time to start thinking about year-end finances. Make a plan to finish these five items before mid-November. Reach out to our team with any questions or to make sure you’ve completed all that applies to you.
In mid-April 2024, the Biden administration announced some potential relief for student loan borrowers.
It’s important to note this is potential relief. Nothing is finalized yet. Just like the previous announcement of forgiving $10,000 student loan balances, the latest relief may also get jammed up in the courts.
Here is the short version of the potential relief announced that may impact doctors:
One of the most popular financial questions we get from doctors is “How do I receive Public Service Loan Forgiveness (PSLF) in the quickest and cheapest way possible?”. Although there’s no way to bypass the requirement of 10 working years at a 501c3/not-for-profit, the federal government has opened some new avenues to count previously missed opportunities for qualification.
Are you ready to take the next steps in securing your financial future? Click here to book a complimentary consultation with one of our team members.
