Consolidation and refinancing can both be viable options when trying to simplify student loan repayment or lower monthly payments. Combining student loan balances under one roof, either through consolidation or refinancing, has the potential to lower a borrower’s interest rate (in the case of refinancing), extend the repayment term, or both, which can reduce the monthly payment to a more affordable level.
I did a complete financial overhaul about a year ago and discovered over $6000 of wasted money. A big chunk of that was in cell phones bills! This was a major money leak. Money leaks are those small expenses that you forget about soon after spending the money. They can wreak havoc on your budget.
One of the most challenging parts of getting a grip on your finances is finding money “leaks” and plugging them. I speak a lot on saving/investing for retirement and tackling student loans. However, I must address the topic of unknowingly wasting money aka money leaks. The faster we figure out where all our money is going the better we will be able to plan and have more money to put towards saving, investing, paying off debt, etc.
Asset protection is a hot topic among young professionals. Let’s face it, we spent years in school and sacrificed a lot to get to this point so it’s only right to search for ways to protect what we’ve earned. Asset protection is a term used to describe the way we go about protecting our finances from those who see us as a target. These may be creditors, individuals looking to sue, etc. Everyone needs to give thought to this but there are some groups, namely physicians and dentists that are more vulnerable to legal action.
Do-It-Yourself (DIY) braces and at-home teeth straightening kits have become a trend popping up all over the internet, promising dentist-quality results at a fraction of the price. While I understand how attractive these may look and sound, unfortunately, things that sound too good to be true often are. As an orthodontist I have seen some pretty damaging effects of DIY braces and wanted to share a few facts about this dangerous trend.
I remember sitting through many lunch and learns back in dental school and residency where we were constantly told that we needed to get life Insurance. After the differences between Whole and Term Life Insurances were discussed, many of the insurance agents(Reps) would emphasize the need for Whole Life versus Term Life Insurance, especially for us soon-to-be dentists. They advertised Whole Life Insurance as the best plan to “offer great returns”, “protect our assets,” while providing a substantial death benefit.
Almost all young dentists face confusing (and often conflicting) choices after graduation because of the significant amount of student loan debt they have from dental school. The average dental school graduate has more than $247,000 in student debt. That figure has risen nearly 40% since 2010.
For many years, dentists relied almost exclusively on reputation, word of mouth, expensive advertising and flyer marketing to help build their practices. But, it’s a different time now and more likely than not, our patients/audience are on one or more social media platforms. Whether it’s Facebook, Instagram, Twitter, Snapchat,etc being active on social media will give us the ability to drive traffic, reach new patients and build lasting relationships that will only benefit our practices.
Many of us have student loan debt, and if you’re a dentist or physician your student loan amount may be pretty significant. Figuring out how exactly to go about tackling them can be quite daunting; from knowing the different repayment options and which is best for you, to knowing whether to consolidate or refinance or even making the decision to take your time paying or pay down aggressively.
As young professionals, many of us left or will be leaving school with student loan debt. As our grace periods wear off and we enter repayment a lot of us find ourselves scouring the internet or asking friends and colleagues how they are going about tackling their student loans. It can be daunting going through the options - some of us have loans from undergraduate school and/ or graduate school. Some of us may have taken out private student loans, federal loans or a combination. Either way, we need to know the options for repaying these loans.
People who are happy with the the way they look are typically more confident and have higher self esteem than those who are not. The way our teeth look and the appearance of our smile can have a pretty significant impact on the way we view ourselves. This is where an Orthodontist comes in. Orthodontics is a specialized branch of dentistry that has a focus on the alignment of teeth.
A new year is upon us, which means it’s time to reflect on the past year and bid the last 12 months adieu. With 2019 comes the promise of a fresh start whether it be personal or professional. But, how many of us get really excited for a new year and set lofty goals only for them to fall by the wayside in mid-January? Setting new year resolution for goals has been a long time tradition but statistics show that only about 10% of people actually stick to their new year resolutions past the month of January - that’s pretty low, but we can change that.
It is never too early to start saving towards retirement. As the new year approaches everyone is setting their goals and intention for the coming months. A main focus for many of us will be our money management and long term goals(retirement planning). It is imperative to have some knowledge of compounding interest to fully understand the benefits of starting early. In this post I will cover some basics of retirement planning and hopefully compel every young professional to start saving towards retirement(if you haven’t already).
On the path to becoming a professional regardless of the field you’re in, the focus has been getting to the place where we finally start our careers. Nobody taught us anything money or finance related. We lacked knowledge regarding taxes, refinancing/consolidating student loans, insurances, retirement, and investing.
White teeth are always in style! Everyone wants a sparkly white smile and if you read my previous post you will know that there are many culprits out there that may diminish the whiteness of your teeth over time. Some of those culprits include coffee, tea, red wine, sodas, curry, turmeric, cigarette smoke to name just a few.
We all want sparkly white teeth! Your smile is often times the first thing someone notices when they look at you so it makes sense to want to keep your teeth in tip top shape. However, there are some culprits that may prevent us from having and maintaining our pearly whites.
I love my profession and honestly cannot think of any other career that I would enjoy as much. My passion lies in creating beautiful smiles and I enjoy and love my patients dearly! However, there are many other things that I love, enjoy and am passionate about.
I came across a meme on Instagram that said "Create a Life You Don't Need a Vacation From" and it resonated with me quite deeply. It made me reflect on my own life and ask some really deep questions: Am I living in my purpose? Do I love what I do? If I didn't get paid for my work, would I still enjoy it? Am I living my best life?
Spring is not only a great time to put away the winter clothes and deep clean the house. It is also a good time to check in on your finances. Remember those beginning of the year goals like saving more, meal prepping and going to the gym (which by now may have tapered off)? This time of year is great to spring clean your financial goals and set yourself up for success the rest of the year.
You've worked your butt off, passed all your board and licensing exams, graduated and landed your dream job. What could be better than landing your dream job and receiving a signing bonus also? According to a 2016 research publication by the National Association of Colleges and Employers, 52% of employers plan to offer signing bonuses to new graduates.
Social media has become part of the every day life for most people. Whether it's Facebook, Instagram, twitter, LinkedIn or snapchat, it's where we communicate with friends, family, our potential patients/clients/customers and so we end up sharing a lot on these platforms. It's also where job recruiters, employers and, yes patients/clients/customers go to find you for whatever their reason. So, when does sharing become too much?
It's the start of a new year and with it comes the need to plan for the year ahead. This is the season for resolutions! So while you make your goals to lose weight, start that new diet, travel more and live your best life, one thing you should include is to become more fiscally responsible. It's time to get your finances in order.
Your first associate contract is a major milestone in your new career but it can be a pretty intimidating process. It is important to have a lawyer review your contract with you and there are some key questions to ask and keep in mind even before you hire one
Some of us go straight to owning our own practices straight out of residency, and others, for various reasons decide to embark on associateship before venturing into practice ownership. I am one of those "others." I decided to gain a few years of "experience" before taking the plunge into being the boss and just like with anything else I've learned some valuable lessons along the way.
It's the most wonderful time of the year! I love the holiday season and all it's festivities. The holidays mean family time, eating, shopping, gift giving and receiving, parades, holiday parties, cozying up in front of the fire place with hot chocolate in hand and staying in PJ's all day. It truly is magical!
Photography is an invaluable, integral and necessary part of dentistry, especially Orthodontics. With the advent and widespread use of digital technology in our practices, imaging has become essential, much easier to incorporate and much more readily accessible.
We are most certainly in the technological age and it seems to be moving at lightning speed. How do we keep up?! The dilemma a lot of us face in our practices is deciding on which technology is worth investing in or which would yield the best return on investment (ROI).
The Apple Watch has become very popular and surprisingly quite useful among healthcare providers, particularly dental offices. The apple watch and other smart watches offer doctors increased efficiency, an opportunity to potentially increase production, ergonomic benefits, and more.