A high-yield savings account is a simple concept: You save money faster due to a higher rate. There are a few key considerations when choosing a high-yield savings account — such as the Annual Percentage Yield and fee structure. A high-yield savings account is a simple concept: You save money faster due to a higher …
How A High-Yield Savings Account Can Help Doctors Save Money Faster Read More »
Key takeaways: The mean annual wage for veterinarians was $109,920 as of May 2021, according to the U.S. Bureau of Labor Statistics. District of Columbia is the highest paid state or district in the U.S. for veterinarians with a mean annual salary of $137,170. Veterinary ophthalmology is the highest paying veterinary specialty, with a mean …
Key takeaways: Your credit score can have a big impact on your ability to borrow money or open new credit cards. Raise your credit score by making on-time payments, decreasing your credit usage, and keeping existing credit cards or other accounts open if possible. Panacea Financial does not use a doctor or doctor-in-training’s credit score …
How Doctors Can Improve Their Credit Score & Other Common Credit Score Questions Read More »
Key takeaways: The most important part of saving for retirement is starting as early as possible. 401(k)s are employer-sponsored retirement accounts that are most beneficial when the employer matches a portion of the employee’s contribution. IRA accounts are individual retirement accounts that allow more freedom to invest on your own terms. Speak with an experienced …
What Is A 401k & An IRA? What Doctors Need To Know About Retirement Savings Read More »
Key takeaways: Credit card consolidation takes multiple credit card balances and rolls them into one monthly payment. Doctors can often build up credit card debt in school and residency, which can quickly become toxic when not paid off. Personal loans are one option for consolidating credit card debt. Americans have over $840 million in credit …
What You Need To Know About Credit Card Consolidation For Doctors Read More »
Key takeaways: Personal loans offer doctors money when they need it most for any need — credit card consolidation, application fees, relocation and more. Panacea Financial’s PRN personal loan was created specifically for doctors and doctors-in-training with a number of unique benefits. With examination fees, residency relocation costs and credit card debt, becoming a doctor …
Personal Loans For Doctors: What You Need To Know Read More »
How to Cover Expenses During Medical Residency Key takeaways: Credit cards, borrowing from friends and family, moonlighting and personal loans are options to mitigate expenses during residency. All have their benefits and drawbacks. Personal loans from doctor-specific lenders can be a better alternative to expensive credit cards. Transitioning from medical school to residency can be …
Pros and Cons of Public Service Loan Forgiveness for Doctors Key takeaways: PSLF offers significant financial benefits to those employed full time by non-profit and government entities. Many doctors can get a headstart on fulfilling the required 120 PSLF payments while in residency. Those who pursue PSLF may encounter limited qualified employment options. Some doctors …
Pros and Cons of Public Service Loan Forgiveness for Doctors Read More »
Three Financial Mistakes ENT Should Avoid Key takeaways: Spend less than you earn. Pay off high interest debt before prioritizing investments. Don’t focus solely on paying off debt while ignoring other financial goals. Whether in the first year of practice or a tenured physician, otolaryngologists face unique challenges when it comes to their finances. Due …
Three Ways Dentist Salary and Benefits are Different at Corporate and Private Practices Key takeaways: Private practice dentists earn more over time. Private practice dentists are more likely to be paid a salary. Corporate dentists are more likely to receive retirement and health insurance benefits. Preparing for a career in dentistry means more than just …
Corporate vs. Private Practice: Three Differences in Dentist Salary and Benefits Read More »
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