Ep. 60 -- Student loan basics with Ben White, MD

07/07/20 • 46 min

Welcome to the Doctor Money Matters Podcast. In this episode we talk about student loans with Ben White, MD a radiologist and blogger who writes about various topics but has written a FREE book about student loans.

Note this episode was recorded pre covid so there have been some changes relating to loan deferrals so please check with your loan servicer prior to making any changes.

Please support our sponsor Pearson Ravitz if you are in the market for disability insurance and especially if you are early in your career for the best rates.

We talk about types of student loans (Federal direct and plus, private, etc.)

We talk loan strategies in relation to USPLF loan forgiveness program. He goes into good detail about how to time your payments including not paying during the first half of your intern year if going for forgiveness. Ben says you almost never want to refinance early in residency which can run counter to the advice you may have heard. In his opinion the forgiveness program may not go away despite the headlines you read.

Ben’s free student loan book is available at www.benwhite.com/studentloans/

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to [email protected]

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Note this episode was recorded pre covid so there have been some changes relating to loan deferrals so please check with your loan servicer prior to making any changes.

Please support our sponsor Pearson Ravitz if you are in the market for disability insurance and especially if you are early in your career for the best rates.

We talk about types of student loans (Federal direct and plus, private, etc.)

Ben’s free student loan book is available at www.benwhite.com/studentloans/

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to [email protected]

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Previous Episode

Ep 59. Joel Greenwald, MD CFP -- Withdrawing assets in retirement

Welcome to the Doctor Money Matters Podcast. It has certainly been an eventful spring between the Covid crisis and the national protests bringing more attention to the unequal treatment of African Americans by law enforcement, and also the financial market volatility.

Our guest was Joel Greenwald, MD a physician turned financial planner in Minnesota who has a long term financial planning business managing mostly physicians money called Greenwald wealth management.

We talk on this episode about the strategies of withdrawing assets once you retire. How do younger physicians get to the asset level we talk about? We also talk about the pros and cons of annuities. He doesn't recommend them for the asset accumulation phase but they can make sense in retirement and we talk about examples of annuities. He does not use them frequently and talks about the conflict of interests that some advisors have.

We also talk about the bucket strategy and withdrawal from different types of accounts (tax free, tax deferred, taxable)

Joel thinks that for most physicians working now, social security will still exist and you can get some income from that. However its going to be variable and should not be a significant part of your retirement strategy.

We also discuss alternate strategies of withdrawal for FIRE and each talk about our thoughts on the 4% rule.

Finally we talk about real estate investing and whether Dr. Greenwald’s clients are investing in it. I mentioned that social media is the new golf course/doctors lounge where some ideas that are pitched are not fully vetted and we should be somewhat skeptical about them.

Click here for more info on Greenwald Wealth Management

Please support our sponsor Pearson Ravitz if you are in the market for disability insurance and especially if you are nearing the end of residency/fellowship where you may still qualify for discounts that may not be available after training.

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to [email protected]

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Next Episode

Ep 61. Gita Pensa, MD -- Malpractice litigation and its impact on the physician

Welcome to the Doctor Money Matters Podcast. In this episode we talk with Gita Pensa MD, an emergency medicine physician and fellow podcaster who created an incredible podcast which is a must listen about lawsuits in medicine and the personal impact it had on her. Its a “Serial” type podcast which is extremely well done. I highly recommend it.

Note this episode was recorded just prior to the Covid shutdowns in March 2020.

Please support our sponsor Pearson Ravitz if you are in the market for disability insurance and especially if you are early in your career for the best rates.

In this episode we discuss why Dr. Pensa started the podcast.

We talk about the impact the lawsuit had on her and she talks about how she felt initially and how even years later it has an impact, not just how long these suits can drag out, and having to relive it over and over again.

We also talk about what physicians don’t know about if they are named in a malpractice lawsuit. We are never taught about how to feel if this happens. Residency programs and CME talks may discuss some of the legal issues, but they rarely address the personal impact on physicians.

The simple threat of a lawsuit makes most physicians uncomfortable and for those who have gone through depositions/trials it can scar you for a long time. We discuss how it can impact your non professional life in addition to your worklife.

We also discuss the role of physician experts in the malpractice world. She calls some of them “Testeliars” on her podcast. These are doctors who make a career out of malpractice testimony.

Dr. Pensa suggests talks about her solutions to make it fair for all physicians.

Finally we talk about what her future plans are and what creating this podcast has done for her, how its allowed her to reach other physicians who have then connected with her about their experiences and how that has helped her find new purpose.

This is a jam packed episode.

Gita’s podcast is available on all the major outlets. Doctors and Litigation: The L Word

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to [email protected]

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.