A question that I often hear from new dentists is: Do I need a financial advisor in addition to an accountant/CPA? The answer depends on a lot of factors (including one’s personal financial wealth going into dental school), but the vast majority of starting dentists may not need a true financial advisor until they accumulate some substantial wealth. With that said, if you need particular help with personal investments or personal budgeting as you start to work, there are certain things that you should be prepared to ask any potential financial advisor upon an initial meeting. These questions are also great to keep in mind if you are meeting with a professional service provider for the first time, such as your accountant or attorney:
When I meet with dental students and residents at several different schools and programs, one of the things I hear most is that finance and tax are things that “they don’t teach us in dental school.” Today, I thought we would look at some of the things that they don’t teach you in dental school, but will be just as important as your degree once you finish…
Public Service Loan Forgiveness is a government program in which federal student loans get forgiven after 10 years of work at a qualifying non-profit or government organization. I’m going to assume for the purposes of this article that you are at least a little familiar with the plan. You can read more about it here.
There are a variety of considerations one must take into account when considering a job that qualifies for Public Service Loan Forgiveness. Often times the dentistry isn’t very exciting and the areas that offer these kinds of jobs can be somewhat remote. But I want to answer the economic question. How valuable is Public Service Loan Forgiveness from an economic standpoint?
Happy Money Monday! There is a website that we have mentioned a few times on Money Monday that is a great resource for dentists at any stage of their career, from student to retired. Today, there is a relatively new feature on the website that we would like to share with you. Keep reading for the link…
The completion of dental school (or residency) brings a whole bunch of changes and new responsibilities. As this blog has made clear many times before, there are several financial changes a new grad must deal with. One of those financial questions new grads are often confronted with revolves around disability insurance. While not exhaustive, I’ll attempt to give a few tips on disability insurance in this article.
For many young dentists and students alike, online banking has become second nature. The ease of mobile and online banking has made online banking a go-to for busy professionals on the go. With this ease come security concerns. Read on for some ways to keep your accounts as secure as possible.
Ever feel like living on a student budget is impossible? It’s pretty hard. Daily snacks and coffee breaks can really add up when you’re watching your wallet. Here is how much money one dental student spent over the course of a typical week.
This post was inspired by Refinery29.com’s Money Diaries. Keep reading…