For Residents and Fellows

During training, simplicity and efficiency matter. Your time is limited, your income is constrained, and your financial decisions need to be practical and high-impact.

The goal at this stage is to build a strong foundation: live within your means, stay organized with your debt, and protect yourself from the major risks that could derail your career and income.

While in training, we focus on a few key steps:

• Build a disciplined cash flow system
  Create a sustainable budget that works now and sets habits for when your income increases.
  
• Create a clear student loan strategy
  Align your repayment plan with programs like PSLF and your long-term career path.
  
• Protect your income early
  Secure disability coverage while you’re young and healthy, ideally through GSI programs when available.
  
• Add liability protection
  Implement umbrella coverage to protect against risks outside of work.
  
• Establish foundational savings
  Build emergency reserves and utilize tools like high-yield savings accounts.
  
• Start investing if and when appropriate
  Begin with simple, tax-efficient strategies like Roth IRAs when budget allows.
  

Once these fundamentals are in place, the focus shifts from setup to progression.

We provide ongoing plan monitoring and refinement, staying with you as your career evolves. As your income grows and your situation becomes more complex, we proactively adjust your strategy. Whether that means optimizing income protection, refining your debt plan, increasing liability coverage, or building out a more sophisticated investment approach.

This isn’t a one-time plan. It’s a process that grows with you, from residency through your attending years and beyond.

Getting your financial habits right during training matters more than most people realize. The way you manage your budget now is often the clearest indicator of how you’ll manage a significantly higher income later. Starting with discipline here creates long-term flexibility and control.