The New Attending Financial Checklist
Model your specific loan decision in our free tool; use this for everything around it.
1. Re-run your loan decision — it changed when you signed your contract
Your attending income changes the PSLF-vs-refinance math. If you're forgiveness-bound at a qualifying employer, stay the course and keep certifying. If you're not pursuing PSLF and have a stable high income, refinancing may now make sense — model it before you act.
2. Lock in (or top up) own-occupation disability insurance
If you bought a resident policy, increase coverage to match your attending income, ideally using a future-increase option you may already have. If you skipped it in training, do this first. See the guide.
3. Get term life insurance if anyone depends on you
Level term (often 20–30 years) is the simple, low-cost answer for most physicians with a spouse, kids, or shared debt. Skip whole/universal life products pitched as "investments" unless you've specifically been advised you need them. More here.
4. Resist lifestyle creep for 24 months
The attendings who win financially keep living close to a resident's budget for a year or two and use the gap to kill high-interest debt, fund retirement, and build real savings. The house and the car can wait; the compounding can't be recovered.
5. Fund retirement accounts deliberately
Max the tax-advantaged accounts available to you (employer plan, and others as applicable). This is where your new income should go before lifestyle.
6. Plan for the tax bill
Your withholding may not keep up with your new bracket. Set aside for taxes and consider whether quarterly estimates apply, especially with 1099 income.
7. Get advice you pay for directly, not advice that's "free"
If you want a financial advisor, prefer a flat-fee or fee-only fiduciary over anyone compensated by selling you products. The "free" planning attached to insurance sales is rarely free.
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