Debt is an important part of our financial system and a useful tool, but it can also lead to financial ruin while maintaining poverty. It can be great and destructive at the same time, and it should be looked at as a double-edged sword.
By Dr. Jim Dahle, WCI Founder A medical school graduate recently published an account of the financial disaster she is facing due to a failure to match into a residency program two years running. Afte...
I'm a big fan of debt-free living. Probably too big of a fan, actually. I know of at least one financial error I've made because of a general abhorrence of debt (can anyone say HPSP?) At this point in...
Should you go for forgiveness or try to refinance student loans? When should you pay off debt vs invest? Here are the 10 best ways manage your debt.
As a general rule, I recommend against residents buying a home for a number of reasons. However, there are exceptions to every general rule. More recently, I have become aware of a program that makes...
Many other high income professionals are eligible for physician mortgage loans. This loan allows less than 20% down without PMI, is issued with a contract rather than proven income, and generally ignores the student loan burden.
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Let's Call Your Debt to Income Ratio what it Really is: Your Debt Slave Ratio. That's really what debt is since the borrower is slave to the lender.
[Editor's Note: This article was originally published in the ACEP Young Physicians Section Newsletter a few months ago. There isn't an electronic copy of the newsletter to link to, so I've decided to...
A home is an investment, for better or worse. It has expenses, has capital gains (or losses) and pays dividends (saved rent.) Invest wisely.
I recently had an article published on The Student Doctor Network (SDN) entitled Financial Considerations For the Student Doctor. It is aimed squarely at medical students and their financial needs, b...
I don't want my children to be saddled with student loan debt but I also want them to learn to be hardworking and self-reliant. Here's how to help THEM pay for their college.
I saw an article this week that showed that at 514 colleges, the loan default rate has now exceeded the graduation rate. The default rate is now 13% on average across the country, and outstanding stu...
I wrote about some things to think about when deciding whether or not to pay off your mortgage early a few months ago. My wife and I had a discussion about paying off our mortgage the other day (whic...
As a general rule, lenders won't refinance a mortgage that is underwater (owe more than the home is worth). Even if you have a small amount of home equity, you may not be able to refinance, and certa...
For most of us, when we buy our first house, having a mortgage or not isn't really a decision we have to make. Few Americans, even high-income professionals, can afford to pay cash for a house. In f...
If you're planning on renting out your house after you move out, it would behoove you to figure out if it is a good investment prior to moving in.
Medical school may not have taught you about money, but we will.
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