My question revolves around what to do with the additional money physicians make once he/she has graduated to attending physician status. This process happens virtually overnight and being prepared for that new sum of money is important.
Is it better to invest some money (after maxing out 401K, IRA, and contributing to 529 plan) or pay off student loans as quickly as possible?? Assuming person was enrolled in 25-year income-based repayment
James Dahle, MD, FACEP
Founder and Editor, The White Coat Investor. Chair, Department of Emergency Medicine at Jordan Valley Medical Center
Director, Office of Student Financial Services at Indiana University School of Medicine
Michael Clancy, MBA, CFP, CLU
Director of Financial Planning, Division of Medical Education at Drexel University College of Medicine
Julie Fresne, MA
Director of Student Financial Services at Association of American Medical Colleges
A. Sofia Warner
MD/MBA student at Harvard Medical School and Harvard Business School interested in medical education, womens health and cost-conscious health care.
Molly Siegel, MD
Obstetrics and Gynecology Resident at University of California, San Francisco. Interested in quality improvement and care for the underserved.
Dr. Lisa Rosenfeld
PGY-1 in psychiatry at MGH/McLean, MD from HMS, MPH from Univ of WA, with interests in community psychiatry, systems of care, and health IT.
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- Question: Investing vs. paying off student loans quicker?