When you get your first job, there is a good chance that you are going to have to make some decisions about participating in a retirement plan right away. In some cases that decision will be made for you. If you go to work for a corporate dental office, there is a pretty good chance you will end up with the option of a 401k. 401k Retirement plans are less common in smaller and private practices, but it would still be beneficial to have a basic understanding as one will likely be recommended to you at some point in your career. One other thing to keep in mind is that you could also end up working as an independent contractor, in which case you would not be able to participate in the employer’s retirement plan although you could set up your own. There are other types of retirement plans but for the sake of brevity, we will focus on the 401k. Here are some things you need to know.
I’m pretty sure that the first thing most new dental school and resident grads do when they get their first paycheck is go down to the dealership and buy a new car. And why not? After all, most of you have been slaving away, living on loans or the meager salary of a resident which is barely enough to cover your loan payments and rent. So here you are, finally ready to buy the car you have been thinking about for 7 years. Hopefully this article will help you get a better deal. In addition to getting a good deal, my hope is that this article will help you think through the steps involved with a large purchase.
We all love to spend money during the holidays. Between holiday parties, gifts for our families and friends and a little extra for those who provide services throughout the year, the holiday expenditures add up fast! While holiday expenses add up, it is a good time to remember some budget-friendly tips that can be used year-round…
If you were at the NLC last month, you saw my colleague, Steve Swan, speak about debt management. As a refresher, we will go through some of your options for student loan repayment here. The following are the four most common methods for managing student loan debt upon graduating from dental school…
Happy October! The purpose of this month’s post is to serve as a single source for some useful online tools to help simplify some of life’s financial decisions. We have not revisited this topic in a while.
Next month, some of us will meet at the National Leadership Conference in Chicago. We will talk about student debt, interest rates and options for managing your debt. Because dental school tuition costs have been on the significant rise in recent years, more students than ever are graduating with very high amounts of debt. While standard ten year repayment is still the primary option for those in repayment, other options are gaining appeal. These include income based repayment and refinancing. We will discuss the options available when you graduate and which options make sense in different circumstances.
What are some questions that you would like addressed during this session?
Welcome to Life Hacks Week! This week is filled with tips, tricks and hacks to get you through dental school. Whether it’s your first or fourth year of dental school, we hope you will find something in these posts to help you succeed. This is our back-to-school gift to you! So pull out a number 2 pencil and a college ruled notebook and let’s get to it.