Financial Planning During Residency-Financial Planning During Residency

Video Transcription

Video Summary

During the DO Day virtual conference, Alex Maislach and Dr. Shragj discussed financial best practices for medical residents. Dr. Shragj, an anesthesiologist with a financial background, shared personal advice on managing finances during residency, dealing with challenges like student loan debt and limited salary. He emphasized the importance of understanding financial options such as buying a home with a doctor's mortgage, refinancing student loans, and maximizing employment benefits like 401k matches. The discussion included strategies for managing debt, using credit wisely, and the significance of having an emergency fund. Dr. Shragj advised focusing on high-interest debt repayment first and highlighted the stability and long-term financial security of a medical career. Participants were encouraged to regularly evaluate their financial health, plan for future income surges, and access support resources from programs like those offered by Laurel Road.

Keywords

financial best practices

medical residents

student loan debt

doctor's mortgage

emergency fund

financial security