The Match is over. Your fate and future were sealed, opened, and finally announced to the world. After hangover has worn off, your next thought may be "what's next?" Luckily, things will happen slowly over the few months to come. But before you know it, you'll be wearing a long coat and answering to "DOCTOR!" … Continue reading Transitioning from MS to MD (Or DO): A Quick Guide!
When it comes to starting to get ahold of your financial picture, there are two places to start. First, I think a budget is important to keep track of your day-to-day spending and begin planning for how to fit in savings for emergencies and retirement. Simultaneous, it's equally important to know where you "are" in … Continue reading How to calculate net worth: My real life (Negative) example!
One of my goals of starting the LifeofaMedStudent website/blog was to hit on financial topics fairly regularly along with the usual medical education advice topics. One of my first posts (My Financial Awakening) tells the story of how I came to realize how uneducated I was in basic financial topics. Reading many books, blog posts, articles later … Continue reading Budgets: Why they are important and a copy of mine (as a resident)
You've been through undergrad, the long days as a medical student, the grueling hours of residency, and finally wake up one day a new attending with paychecks coming in amounting to $250,000 a year - finally living the dream right?! Or wrong?! Sadly, the opposite of the financial dream is true in so many … Continue reading Why money and finance matter to docs in training – a real life example of financial stress in a new attending!
It's that time of year: politics time! The debates are raging all over social media - Trump or Clinton, Republican or Democrat, move to Canada or Europe!! Interestingly, where your beliefs' stack up on party lines may effect much more than just your vote at the ballot box. There is a couple surprising articles out … Continue reading Politics!! Politics!! How party affiliation may affect how you treat patients, your specialty choice, and possibly income!
Moonlighting - the rite of passage passed down from generations to generations of over-worked and under-paid residents. For those not familiar, it's the term given to the common practice of residents picking up a second medical job to work at night while they complete their primary residency during the day - literally working through the light … Continue reading Moonlighting: The Cash Cow I Can’t Wait to Quit!
"Some things in life money can't buy, for every thing else... there's student loans." - This is one of my favorite #LifeofaMedStudent tweets. It certainly rings true as well. It seems there is no limit to the amount of loans one can take out these days and med school is a time when financial planning … Continue reading 5 Financial Tips for Medical Students
Residency is a time to finally learn medicine. You work grueling hours, still have to study, and every day make medical decisions that can make a difference in a person's life. Where in the world is there time to worry about money? Well, that was my thought at least. Until my own financial awakening occurred … Continue reading Top 5 Financial Mistakes I’ve made during Residency
If you read most medical/financial blogs, the verdict is pretty clear on the fact you should rent during medical school/residency. Renting is lower maintenance and lower hassle while you are in the most time consuming stretch of your medical training. In the span of <5 years, renting is generally thought to be financially smarter than … Continue reading Buy vs Rent – Why I bought a Home during Residency
I trust people. I trust my colleagues. When a cardiologist says this patient is going to the cath lab, I don't second guess their expertise. When the surgeon says this patient must go to the OR, I make sure the patient is ready. When a financial “advisor” said I needed to roll-over the cash value of … Continue reading My Financial Awakening