If you are a physician working in a managed care health system, chances are you’ve asked yourself at least one of these questions about work-life balance: If this sounds like you, transitioning into locum tenens work might be appealing. It lets you choose your own assignments, decide when and how long to take time off,… The post Locum Tenens Physician Tax Planning Essentials: Navigating Inconsistent Income appeared first on Student Loan Planner ..read more

After working your way through medical school and the grueling hours of residency or fellowship, facing 80-hour weeks and 24-hour shifts, the idea of retirement planning might seem almost laughable. You’re earning a PGY salary that amounts to around 20% to 35% of what you’ll receive in your first year as an attending physician.  It’s… The post Why Resident Physicians Shouldn’t Worry About Retirement Contributions appeared first on Student Loan Planner ..read more

Your home is likely the most expensive personal purchase you’ll make. After all, professional mortgage programs make it a lot easier for physicians and high-income earners to qualify for homes in the $1 million to $2 million range. But what happens if you lose your ability to work and can’t afford that once manageable four-… The post Disability Insurance for Your Mortgage: The Biggest Mistake Homeowners Make appeared first on Student Loan Planner ..read more

You're juggling long hours, intense responsibilities and constant pressure. The last thing you need is financial stress weighing you down. But here’s the thing: a few smart financial decisions now can have a huge impact on your personal finances in residency and early career. That's why we've put together this essential guide with 10 critical… The post 10 Vital Financial Moves During Residency and Your Early Career appeared first on Student Loan Planner ..read more

How can you make sure an insurance broker’s interests are aligned with yours when purchasing an own-occupation, long-term disability insurance policy? Although being an insurance agent requires having a license in every state where they sell policies, the possibility of ethical lapses remains.  These five questions are designed to help you figure out whether the… The post 5 Questions to Ask When Buying Disability Insurance appeared first on Student Loan Planner ..read more

Long-term disability insurance protects a portion of your personal income if you become disabled, giving your family peace of mind. But what happens to your practice if you’re unable to work? Business overhead expense insurance can help keep your practice doors open and operating smoothly in your absence. What is business overhead expense insurance? We… The post Business Overhead Expense Insurance: How to Decide If You Need It appeared first on Student Loan Planner ..read more

Long-term disability insurance (LTD) generally protects up to 60% of your gross income against an unexpected injury, illness or medical condition. However, most insurance companies have a maximum disability insurance allowed, which typically caps out around $15,000 to $30,000 per month, depending on specialty and other determining factors. For most professions, the maximum benefit amount… The post How to Get the Maximum Disability Insurance Allowed as a High-Income Earner appeared first on Student Loan Planner ..read more

When discussing disability insurance with clients, many of whom are surgeons or dentists, it’s clear that even a simple hand injury can dramatically affect their ability to work. Other professionals, like certified public accountants (CPAs), are less likely to have a disability impact their employment. But that doesn’t mean they should skimp on their insurance… The post Disability Insurance for CPAs: How to Find the Best Policy appeared first on Student Loan Planner ..read more

A disability insurance agent, or broker, functions much like a broker you’d encounter in many other industries. They’re the middlemen of disability insurance policies. But since when is dealing with middlemen a good thing? Most disability insurance agents are independent, meaning they can research quotes for you across multiple disability insurance companies. Some also provide… The post Why Physicians Need a Disability Insurance Agent: Unveiling the Benefits appeared first on Student Loan Planner ..read more

Many employers offer basic disability insurance coverage. But due to its limitations, such as having a strict definition of disability and capped benefits, employer-sponsored disability coverage usually isn’t enough to cover the needs of high-income earners. That’s where supplemental disability insurance comes in. Do you need supplemental disability insurance? If you get long-term disability insurance… The post Worried About Disability Coverage Through Work? Get Supplemental Disability Insurance appeared first on Student Loan Planner ..read more