Residency

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Hey everyone! It’s Medicine Mondays again and this is kind of follow-up to my prior post Talking to Med Student Me. Today I’m going to go back in time and talk to Pre-Med Me. Stock Photo from: Pexels Before I jump into this post, I wanted to do a quick side story. Awhile back my daughter went to a birthday party from one of her friend’s from daycare. At that birthday party I was introduced […]

Talking to Pre-Med Me #illumedati

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Hey everyone, it’s Finance Fridays. After looking through some of my old posts, I have alluded to Credit Card Debt and how bad it is for you. However, I realized I’ve never talked about it explicitly. So let’s talk about Credit Card Debt. Stock Photo from: Pexels Ok, so let’s discuss Credit Card Debt Remember how I mentioned compound interest before and how powerful it is? Credit Card Debt is like that, except probably even […]

Credit Card Debt #illumedati

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Hey everyone, it’s Medicine Mondays again and it’s nearing the end of June. Well that may not mean too much for other professions, for the medical profession everyone knows that this is when the “changeover” begins. With that said, it’s time to give a nice warm Welcome to the New Interns. Stock Photo from: Pixabay July 1st Ok, so July 1 is coming up. Traditionally, that is when everyone jokes about “don’t get sick in […]

Welcome to the New Interns #illumedati

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Hey everyone, it’s Finance Fridays and this is going to be one of those “right now” posts. I received a comment on my post about Roth 401k/403b in Residency. I was going to write a relatively long comment, but instead I’ve decided to turn it into a complete post: Roth 401k/403b in Residency Case Report. Stock Photo from: Pixabay Here’s the comment: (from Queue) My wife and I are making retirement a priority. We’re just about […]

Roth 401k/403b in Residency Case Report #illumedati

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Hey everyone, it’s Finance Fridays again and this is going to be a relatively short post about Catchup Contributions. Stock Photo from: Pexels What are “Catchup Contributions”? Well, your normal allowable yearly contributions to 401k/403b and 457 are $18000 (as of 2017). However, after the age of 50, this limit increases by $6000 to $24000 in order to help “catchup” in preparation for retirement. This also increases the prior maximum contribution of $54,000 (2017) from all […]

Catchup Contributions #illumedati

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Hey everyone, it’s Finance Fridays again and I’m going go back to the basics again. Most of Finance Fridays is geared toward securing a stable retirement. However, the more immediate goal is to establish Positive Net Worth. Stock Photo from: Pexels What is Positive Net Worth? Well, it’s not too difficult to understand. You tally up all your financial assets that you have and subtract your liabilities (debt). As a physician, this is important because […]

Positive Net Worth #illumedati

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