Pharmacists face unique challenges.
How do my loans work while in my residency?
Should I make interest-only payments?
How far into the future should I stretch my student loans?
As a Pharmacist, you have some unique financial challenges. You entered a profession that pays well, but typically comes with “baggage” in the form of heavy student loan debt. Did you know there are well-designed financial strategies and poorly-designed financial strategies when it comes to eliminating school loan debt can result in the difference of thousands of dollars and years of loan payments?
- Should I consolidate my loans?
- Should I defer my loans while in my Residency?
- How do my loans work while in my Residency?
- Should I make interest-only payments?
- How far into the future should I stretch my student loans?
- Is it smarter to save more for retirement at a younger age and take longer to pay loans or pay loans aggressively and save for retirement later?
Believe it or not, there are right and wrong answers to these questions and you need a Financial Advisor who has experience in working through these issues with his pharmacy clients to maximize their debt elimination strategy.
In addition, there may be some of you who have moved beyond the student loan debt, but have not “dived into the deep-end” when it comes to planning for your financial future. Perhaps you have big goals, such as starting or purchasing your own independent pharmacy or even retiring early to enjoy your retirement at a younger age. Whatever you may have on your horizon, you need someone who has worked with many pharmacists through the years and understands the issues you face.
However, along the way, challenges are bound to arise – sickness or injury may effect your ability to work; saving for your children’s college may be more than you anticipated; You may ask yourself, if I or my spouse pass away tomorrow, will my family be able to weather this storm financially? These challenges that could happen to anyone at anytime need to be prepared for so they don’t come as an unexpected surprise while executing your financial plan.
Todd Bailey is here to help you just as he has many others. He is an Associate member of NCAP (North Carolina Association of Pharmacists) and is a regular speaker at The Eshelman School of Pharmacy at UNC-Chapel Hill. He contributes financial articles quarterly to the NCAP newsletter and its membership. If you would like to have a complimentary, no-obligation meeting with Todd either personally or via video chat from anywhere in the country, he would be happy to meet with you.
Please use the form below to submit your information and a trust advisor will contact you.