Doctors work hard to become skilled professionals, but their busy schedules often leave them with little time to plan for their financial future. This can lead to problems like high student loan debt, poor financial decisions, and a lack of retirement savings. It is, therefore, important for doctors to take steps to improve their financial literacy and make informed decisions about their money to avoid financial hardship later in life.
In this Part 1 of Money and Medicine, your host, Dr. Coombs, engages financial experts to share tips on how to plan and manage your finances effectively, from medical school to residency and beyond. The experts (Dave Daquette, Pedro Rojas, Hyacinth Henderson, and Anthony Vanaki) will share about the financial life of a medical student and highlight the impact of one’s credit score on the financial well-being as a health professional. This informative session will provide you with valuable insights and strategies to help you achieve financial success throughout your medical career.
Tune in!
What You Will Learn:
[00:01] Intro of the guests and brief overview of the financial life of a medical practitioner
[09:27] What a medical student can do to set themselves up financially right from medical school
[17:26] A healthy thinking on credit and how to grow your credit score
[26:52] The perfect credit formula to build your credit profile and best strategies to pay off your loans once you are an attending
Standout Quotes:
“Your credit history is your financial resume, which shows your history and behavior. If you do not pay your creditors on time, banks will not want to work with you.” - Anthony Vanaki [19:11]
“If you want to go on the entrepreneurial route as a medical practitioner, your credit score is going to be a significant subject that you must pay attention to.”- Pedro Rojas [21:47]
“Creditors will base your ability to repay a loan on your credit score. Your credit report tells the story without you opening your mouth.”- Hyacinth Henderson [25:19]
“Medical practitioners attending need to embrace hoarding cash and building their balance sheet rather than paying off their debts at once. There will be great opportunities that will present themselves along the way.”- Dave Daquette [36:25]
Let’s Connect www.friendsofmed.com
Friends of Medicine
https://instagram.com/friends_of_medicine?igshid=MzRlODBiNWFlZA==
Dr. André Coombs (Trauma surgeon, Friends of Medicine Founder, and host of Behind the Scrubs)
https://instagram.com/trinitraumasurgeon?igshid=YmMyMTA2M2Y=
Anthony Vanaki (CEO/Founder at Deliver Capital, Inquiry Removers, and Loan Genie)
https://www.delivercapital.com/
https://www.linkedin.com/in/inquiryremovers/
Hyacinth Henderson (Co-CEO of The Henderson Financial Group)
https://www.thehendersonfinancialgroup.com/
https://www.linkedin.com/in/hyacinth-henderson/
Dave Daquette (Financial Advisor and President at Impact Medical Advisors)
https://www.impactmedicaladvisors.com/
https://www.linkedin.com/in/david-duquette-630138a0/
Pedro Rojas (Founder and President at Platano Advisors)
https://www.platanoadvisors.com/
https://www.linkedin.com/in/pedro-rojas-profile/
Sponsored by:
Impact Wealth Advisors. Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Westshore Financial Group Inc. is not an affiliate or subsidiary of PAS or Guardian. Impact Wealth Advisors is not an affiliate or subsidiary of PAS or Guardian. Impact Wealth Advisors is not registered in any state or with the U.S. Securities and Exchange Commission as a Registered Investment Advisor: AR Insurance License Number - 17147828. 2023-163462 Exp. 10/25