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    How the AAFP Foundation Helps Improve Health Around the World

How the AAFP Foundation Helps Improve Health Around the World

With a vision of improving the health of all people, the American Academy of Family Physicians (AAFP) Foundation’s programs include humanitarian, educational, and scientific initiatives. Along with the donations from family physicians, corporations and others, dividends received from the AAFP Foundation’s subsidiary, AAFP Insurance Services, Inc., make these initiatives possible. The 501(c)(3) organization supports […]

By |September 20th, 2019|Uncategorized|0 Comments|

9 Smart Tax Strategies for Keeping More of Your Money

When it comes to building wealth and preparing for retirement, there are many strategies for saving and investing. One aspect that physicians often do not fully utilize is saving through smart tax strategies. Specifically, you should have a tax strategy that takes advantage of legally allowable tax deductions to retain as much of your […]

The Doctor’s Guide to Financial Freedom

A MoneyWatch article asked, “Is becoming a doctor a million dollar mistake?” They were referring to the high cost of a medical degree, plus the lost decade of earnings at the beginning of a doctor’s career.

While certainly provocative, the question deserves an answer. It depends on how well you prepare for:

The financial burden […]

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    The Handy Guide to Refinancing and Consolidating Medical Student Debt

The Handy Guide to Refinancing and Consolidating Medical Student Debt

While the experts talk about the need to lower the financial burden associated with attending medical school, the reality is that student loan debt is higher than ever. Add together undergraduate loans with medical school debt, and some have calculated the total average student loan debt for graduating physicians to be as high as […]

The Quick and Easy Guide to Medical Malpractice Insurance

The good news for healthcare professionals is that medical malpractice claim frequency is lower than it has been in the past(1). Also, of the malpractice cases pursued, only seven percent make it to court. Of those, about one in five rule in favor of the plaintiff.

The bad news, however, is that the few cases […]

5 Financial Books to Help Physicians Manage their Wealth

In their many years of schooling, physicians rarely if ever touch on the issues of financial management and investments. Often they begin careers saddled with debt. Working long hours, medical professionals have little time to devote to learning about finances. Plus, once they are finally earning money, they are apt to want to live […]

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    The Vital Role of Permanent Life Insurance in a Sound Financial Plan

The Vital Role of Permanent Life Insurance in a Sound Financial Plan

The most important aspect of a life insurance policy is that it’s in force on the day you die. Owning a permanent policy ensures that happens. Given that it’s called permanent “life insurance” it’s not surprising that most people think it’s a one-trick pony. It can, however, play multiple roles in your financial portfolio.

So […]

8 Financial Tips for Medical Residents

After years of education, you are finally earning money. However, you are not yet bringing home a doctor’s income. In 2017, the average salary for a medical resident was $57,200.[i] So you have to manage it wisely. Here are eight tips to get you on the right track financially.

1. Create a Budget and Live […]

How Much Money Does a Physician Need to Retire?

You may wonder how much money you need to make sure your retirement years are your golden years.

As usual with financial questions, there is no one-size-fits-all answer. However, there are steps you can take to figure out how much money you will require, and some financial protections you can invest in to add some […]

Is lump sum disability insurance right for you?

There are two things every physician knows.  One is that a career in medicine requires an investment in both time and financial resources.  The other is that life can change in an instant.  We all know patients, even colleagues, whose lives were irreparably changed by a disabling illness or injury.

What would you do, if […]