Residency

Best practices to avoid financial woes

Residency Program Insider, November 11, 2016

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With the majority of young physicians today owning more debt than previous generations, it can be easy to slip into financial jeopardy and fall behind in retirement saving. Retired rheumatologist Timothy Harrington, MD, provides the following lifestyle tips for aspiring and practicing physicians to help them avoid a lifetime of financial stress:
•    Don’t choose a specialty based on how much you will earn. By making good financial decision early on, you can choose a specialty that interests you and still manage to pay off your debts.
•    Seek out help with employment contracts, utilize the services of a qualified financial adviser, and find a mentor.
•    Live modestly by embracing a middle-class lifestyle and spend less than you earn.

Source: AMA Wire

 



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