Money Meets Medicine Podcast

MMM #35: Pearls on How to Manage Your Student Loans

The CARES Act (also know as the stimulus bill) impacted your student loan debt. There’s a pause on your student loan payments and interest and more. It may be tempting to use that extra money in the wrong way. Today, we discuss some pearls of information you should know for managing your student loans. Keep reading to find out more!

What You’ll Learn:

In this episode of Money Meets Medicine, “Peals on How To Manage Your Student Loans,” you’re going to learn:

  • How the CARES Act effects your student loans.
  • The right way to take care of the burden of student loans.
  • The do’s and don’t’s for the money you’re saving.
  • When the’s the right time to refinance your student loans.
  • And more!

Resources from the Episode:

The Definite Guide to Medical School Debt for New Doctors

This Episode’s Sponsor

Medical Degree to Financially Free provides a 5 Step Process to help you pay down debt, invest toward individualized goals, and find the financial freedom you deserve.  It is a 5-week course that offers live office hours with Jimmy Turner each week and a 14-day no-questions asked money back guarantee.  Practice Medicine Because You Want To…Not Because You Have To… Use link: https://financialresidency.com/MDFree 

Listener Question of the Week:

Today’s listener question comes from Dusty Schuett:

“Have a question for you about 401ks for spouses not currently working. My wife has a 401k from a prior job. She’s currently doing the stay at home mom and homeschool teacher for a 2nd grader, preschooler and a 2 year old. Her 401k currently has fairly high expense ratio options. I’d love to get her out of that 401k into a more efficient fund. Can I roll that money into her IRA and do a back door conversion to Roth so that we can keep doing Backdoor Roth’s? Without any income, I’m assuming that I cannot start a solo 401k for her without any income correct? I’m starting to do some 1099 work and am considering hiring her to help with that which would allow me to create a 401k for her, she could then roll the prior 401k into the new 401k that I would manage, correct?”

Each episode, we are going to start including listener questions as they are provided to us.  So, if you have a specific question you’d like answered on the podcast reach out to us!  Email [email protected] or [email protected]

Subscribe in Your Podcast Player:

If you love the show – and want to provide a 5-star review – please go to your podcast player of choice and help other listeners find the Money Meets Medicine Podcast, too!  If you think that our podcast is terrible, send me an email and I will throw your email into the trash consider your constructive criticism to improve the show.

Seriously, though, go leave a review.  It helps others find the Money Meets Medicine podcast, too.



Submit a Comment

Your email address will not be published.

You might also be interested in…

MMM 90: Hard Decisions on Money Meets Medicine

MMM 90: Hard Decisions on Money Meets Medicine

Have you ever felt like things are getting really heavy? And that you need to make a change? That is what we are going to do today on the show today. We are going to pull back the curtain and talk about things that have been going on in our lives. Often people don’t think about the lives of the people behind the YouTube videos or podcasts like this one, Money Meets Medicine. So today we are going to dive in and talk about hard decisions on this podcast Money Meets Medicine. Join us as we explore why resting in your personal and financial lives is essential for healthy success.

MMM 89: Personal Finance Masochism & Physician Self-Compassion

MMM 89: Personal Finance Masochism & Physician Self-Compassion

Is there a purchase you’ve been thinking about, but are afraid you should be spending your money in “better ways?” Listen along today as we talk about that Porsche 981 Cayman S, house, or expensive vacation you want, and how to get it. Learn how you can save for tomorrow while you also enjoy today.

MMM 88: Do Doctors Really Need Emergency Funds?

MMM 88: Do Doctors Really Need Emergency Funds?

Physician turnover is high, specifically after the first 2-5 years of training. With doctors changing jobs so often, it is important to establish an emergency fund early on (and to consider the cost of leaving a job in medicine).

So today we wanted to dive into why everyone, including us, says you need an emergency fund, where you should put that money, what to use it for, and what NOT to use it for. We are also going to do some real talk on doing the math BEFORE you decide to either change jobs or leave medicine altogether.

Are you ready to live a life you love?