Financial Planning

Updated: August 24, 2022. The Biden Administration has made key changes to student loan payments, servicers, and forgiveness opportunities. Doctors may need to take action to receive student loan forgiveness under the new rules, revisit consolidation or refinancing, or prepare for payments to restart.

Recently, Congress released proposed legislation to codify President Biden’s Tax Plan, also known as the American Families Plan. In its current form as the Build Back Better Act, the bill could be the most significant overhaul of the tax code in decades. For doctors, the proposed changes include higher tax rates, changes to retirement savings options, and new tax breaks for families.

Whether you are a dual doc family, a doc with another professional, or a single doc with children, child care is one of the most significant and essential expenses you’ll need to address.

As a new physician, you’ve sacrificed years watching friends buy new cars and first homes, while you’ve spent an extra four years in medical school with no income. You followed that up with three to nine years of residency and fellowships at depressingly low-income levels. It’s no wonder then, when you finally get your new attending salary, you want to go buy a “doctor house.”