Paying Down Student Loans Versus Investing -- What Should You Do?
Ahhhhh….you’ve finally made it. 4 years in college, 4 years in medical school, 3-5 more in residency, and 1-3 more in fellowship and you’re finally making the big bucks. You’ve just started getting your first 5 figure paychecks and you feel like you have some money that you don’t need to spend on this month’s necessities. You’ve got a couple hundred thousand dollars worth of student loans hanging over your head, a big mortgage, and even a little bit of credit card debt. But you’re also looking at a huge tax bill, and besides, you don’t want to work forever, so you’ve been studying up on 401Ks and IRAs. How do you decide when to pay down loans and when to invest? Dr. Dahle will walk you through all the factors that go into this decision and give you some recommendations and a list of financial priorities.
He also answers readers' questions about tax loss harvesting and emergency funds.
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This episode is sponsored by DrDisabilityQuotes.com . Bob Bhayani, MBA is managing partner for a truly independent provider of disability insurance planning solutions to the medical community nationwide. Bob regularly lectures at hospitals and faculties regarding creation of income protection and risk management solutions. Bob has specialized in working with residents and fellows early in their careers to set up sound financial and insurance strategies. Bob has leveraged his decades worth of relationships with top insurance companies to deliver discounts to all eligible applicants. DrDisabilityQuotes.com is an interactive website where physicians are able to gain a wealth of knowledge regarding disability insurance and also run instant life insurance comparison quotes from various companies. For your insurance needs contact Bob at email@example.com or 973-771-9100.