Financial Advice for “Low-Income” Doctors

One person’s “low-income” profession is another person’s “high-income” profession. It’s all relative, of course. But in medicine, there can be a pretty significant disparity in earnings when you look at the entire spectrum of doctors.

As with any other industry, some pull in a salary below the average or median pay for a group.

Here are the Financial Advice for “Low-Income” Doctors

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 If you’ve got $400,000 worth of student loans at 8% on a 10-year plan, that requires payments of about $60,000 per year in after-tax dollars.

Student Loan Issues

If you would instead spend your time looking at the 99.9% of those who have ever lived who make LESS than you, you would probably be a lot happier.

You’re Not a Back Surgeon, and That’s OK

Doctors making $150,000 don’t need very many retirement accounts, and they may never need a taxable account at all. 

Avoiding Portfolio Complexity

Disability insurance is really easy for a “low-income” physician. You can do it with a single policy. 

Disability Insurance

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