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    How to Recoup Your Financial Health After COVID-19 Wreaked Havoc on Doctors’ Earnings

How to Recoup Your Financial Health After COVID-19 Wreaked Havoc on Doctors’ Earnings

This past year, the COVID-19 pandemic threat has upended lives around the globe. It’s left few things unchanged—especially when it comes to jobs and income. And even with the extra workload that COVID-19 has brought to some segments of the medical system, many doctors have suffered financially.

According to an October 2020 survey, almost half […]

Despite High Earnings, Doctors Face Financial Challenges

Without a doubt, the outbreak of SARS-CoV-2 caught the general public off guard. And even with their understanding of the potential for a pandemic, physicians likely did not expect the shutdowns of 2020. Even medical facilities could not have envisioned hospital tents set up in Seattle and New York’s Central Park for all their […]

By |December 1st, 2020|Financial|0 Comments|

7 Ways Physicians Can Build a Rainy Day Fund

Do you have a financial emergency fund put aside?

Many physicians don’t. They often think that they’re too busy to focus on their financial situation. Or they’re making enough money so that they don’t have to worry about keeping to a budget. And they believe that their jobs are secure. That’s not surprising given that […]

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 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 […]

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    5 Questions Physicians Should Ask to Find Out How Much Disability Insurance They Need

5 Questions Physicians Should Ask to Find Out How Much Disability Insurance They Need

How much disability insurance do you need to protect you and your family?

It’s an important question because if you overdo it, you’re paying for something you do not need. If you skimp on your protection, however, you risk financial troubles should you become disabled. Like Goldilocks, you want to get it “just right.” To […]

The problem has not changed, but the solution finally has.

Extended Healthcare or Long-Term Care creates emotional and financial challenges.

We’ve partnered with the industry’s leading Long-Term Care Solutions Specialists. LTCR serves millions of members from over 650 alumni professional associations nationwide.

Long-Term Care Resources has been an industry leader for 20 years. We know from experience that a quote or a policy is not enough. […]

2017 Financial Plan Blown? Get Back on Financial Track

Despite all your efforts, the financial plan you made for 2017 seems to be going off course.

Perhaps your household income decreased because you changed jobs or you received a smaller bonus than you expected. Maybe expenses have exceeded your budget due to unexpected emergencies or you’ve found yourself indulging in luxuries more frequently than […]

Have Student Loans? Why You Need Life Insurance

Like other newly minted physicians, you are likely facing a mountain of debt.

The median debt incurred for medical education is $180,000.[i] And that’s not all. The median figure for pre-medical education debt is $25,000. Plus, on average, post-grads have $4,000 in credit card bills and $12,000 in residency/relocation loans.[ii]

That’s a total of $221,000 of […]

Insurance at Different Life Stages

The decisions you make at every stage of your life shape your need for protection.  That need starts early and changes with you.  The following guidelines can help you protect what you’ve worked so hard to achieve.

Your 20s and 30’s.

A long career ahead.
The rule of thumb is that you should set aside 2% of […]