There are a lot of things to consider as a young doctor. After you’ve matched into a residency and are now effectively “locked-in” to the life of a doctor, there are things you need to consider that you have probably not thought about before. In addition, these are the things you can and will put off until it might be too late as you are more focused on surviving residency.

Here is what I consider to be “The List” or my financial planning worksheet.

By answering this list of questions you will have a much better idea of where you stand in terms of future planning.

THE LIST

Age:
Married or Single:
Children:
Goal for retirement:

Annual Salary:
Spouse Salary:
State of Residence:
Checking:
Savings:
Goal ($ and time) to have in savings:

CD:
Roth IRA:
401k/403b/457:
Pension:
Time to Vest:
Goal (as %) to save of your income:

Credit Card Debt (and %):
College Debt (and %):
Medical School Debt (and %):
Other School Debt (and %):
Other Debt (and %):
Goal for being debt free:

Life Insurance:
Disability Insurance:
Car Insurance:
Umbrella Insurance:
Malpractice Insurance:

Current Vehicle:
Payment(s):
Plans to buy/lease another:

Plans to buy a house:
Expected Rent:
Renter’s Insurance:

Expected Child Care Costs:
Flexible Spending Account (FSA):

Public School or Private School:
529:

Health Insurance:
Dental Insurance:
Vision Insurance:
Health Savings Account (HSA):

Will:
Asset Protection:
Estate Plan: