By James M Dahle, MD, Emergency Physician, WCI Founder    The most complicated time period for physician student loan management is during residency. While there can still be some complicated issues as an attending, it generally boils down to a simple “Go for PSLF vs refinance and pay off quickly” decision that is primarily based on whether or not you ...

The Public Service Loan Forgiveness (PSLF) program is one of the best possible ways to manage federal loans. If you are eligible for this government program by virtue of your employment situation, you should almost surely take advantage. PSLF offers tax-free forgiveness of any remaining direct federal loans after 10 years of payments have been made.   Public Service Loan ...

There are nine community property states in the United States of America. They are: Arizona California Idaho Louisiana Nevada New Mexico Texas Washington Wisconsin   What Is a Community Property State? What do most of these states have in common? This map will demonstrate it well.     As you can see, all of those states (with the possible exception ...

Many of you have previously seen the series of posts I did for “high income” doctors aimed primarily at well-paid specialists or dual-income families making $500K-$1M or more per year. This post addresses the opposite issue, “low-income” doctors. The average physician these days makes around $275K, and polls show that the vast majority of doctors are in the $180-$450K range. ...

Monthly Payment: Attributed monthly to Maria’s loans ($145,250 x 10% / 12) x 71% = $865 Attributed monthly to Santiago’s loans ($145,250 x 10% / 12) x 29%= $346 Household monthly payment $145,250 x 10% / 12 = $1,210 By filing taxes MFJ, the monthly payment is distributed based on your % of loan balance.   Note, Maria’s loans are ...

We are pleased to announce the launch of a new service we are offering to The White Coat Investor community:     There is a serious need out there for high-quality student loan advice, so we have arranged for white coat investors to be able to meet with a trained student loan planner for a quick advice session at a ...

[Editor’s Note: We’re excited for The 2021 Physician Wellness and Financial Literacy Conference (WCICON21) virtually live THIS WEEK – March 4-6! It’s not too late to register and don’t worry, registration gives you lifetime access to presentations — even if you can’t watch it all during the conference. And even better, pay for it with your CME funds (approved for ...

[Editor’s Note: We are currently accepting guest post submissions! Share your knowledge, expertise, successes (and failures) with the WCI Community. Submit your article by December 10, 2020, for Q1 2021 consideration. See our Guest Post Policy for more information.] Today we’re going to address the most common question I see on this blog, in my email inbox, and on forums. ...

[Editor’s Note: Welcome to our first Classic Tuesday. While we often revisit some of our older blog posts on social media and I send people links to them all the time in answer to their questions, the truth is that due to rapid growth only a small percentage of this blog’s readers have been reading the blog for longer than ...

[Editor’s Note: This is a guest post from “Dr. Wise Money“, a PGY2 who has guest posted here before about how she paid off her student loans as a PGY1. She is a resident on the fast track to financial independence, recently purchasing her second home and maxing out retirement accounts anticipating financial independence sometime in 2023. She has spent a ...

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