Free Essays on Bill Fords Long Hard Road

Bill Ford’s Long, Hard Road In the article Bill Ford’s Long, Hard Road Home, Kathleen Kerwin talks about the issues that have been tormenting the Ford Motor Company over the past view years. She especially centers around William Clay Ford Jr. furthermore, the progressions that have been flawless since he took the ob of CEO of the auto monster. He will likely restore the Ford Motor brand over into one of the chief auto organizations on the planet. So far as CEO the company’s benefits are up and there have been no reviews. There has likewise been an expansion in the quality and profitability of the vehicles delivered in Europe. To the extent partners in the organization, the representatives love Bill Ford. At the point when Bill Ford accepted the position as CEO a portion of the representatives gave him an overwhelming applause. Despite the fact that William Clay Ford’s residency looks encouraging at the present time, there are still a few hindrances. For one, the organization has an awful hi story with its providers. This relationship might be mended in time because of Bill Ford’s duty to improve the partnership. Another issue comes from earthy people guarantees that the organization isn’t doing what's needed for the earth. At this very moment, the Ford Motor Company is trying another Japanese innovation that improves mileage in vehicles. With the chances stacked against him William Clay Ford Jr. makes certain to have a few disappointments. Ideally, he has the vision and arranging that his extraordinary granddad had so as to turn the declining Ford brand back to dominance.... Free Essays on Bill Ford's Long Hard Road Free Essays on Bill Ford's Long Hard Road Bill Ford’s Long, Hard Road In the article Bill Ford’s Long, Hard Road Home, Kathleen Kerwin examines the issues that have been tormenting the Ford Motor Company over the past view years. She especially centers around William Clay Ford Jr. furthermore, the progressions that have been flawless since he took the ob of CEO of the auto monster. He will likely restore the Ford Motor brand once again into one of the chief auto organizations on the planet. So far as CEO the company’s benefits are up and there have been no reviews. There has likewise been an expansion in the quality and efficiency of the vehicles delivered in Europe. To the extent partners in the organization, the representatives love Bill Ford. At the point when Bill Ford accepted the position as CEO a portion of the workers gave him an overwhelming applause. In spite of the fact that William Clay Ford’s residency looks encouraging at the present time, there are still a few hindrances. For one, the organization has an awful histor y with its providers. This relationship might be mended in time because of Bill Ford’s responsibility to improve the organization. Another issue comes from preservationists guarantees that the organization isn’t doing what's necessary for the earth. Right now, the Ford Motor Company is trying another Japanese innovation that improves mileage in vehicles. With the chances stacked against him William Clay Ford Jr. makes certain to have a few disappointments. Ideally, he has the vision and arranging that his extraordinary granddad had so as to turn the declining Ford brand back to dominance....

Modern Western Thought :: essays research papers

Present day Western however has been formed by accentuation on logical reasoning and thinking from the hour of Copernicus, Galileo and Newton. The logical transformation brought forth another period of thought, in which perceptions were made to help a thought. This included what man could demonstrate through sense, not religion or strange notion. Prominent old Greek students of history, savants and researchers, for example, Thucydides, Socrates, Aristotle, and Hippocrates, set out the seeds of present day Western idea.      An old Greek essayist who exhibited present day logical objectivity was Thucydides. After some time, this sort of logical objectivity has become an important device of current Western idea. The distinctiveness and detail of Thucydides’ depiction of the impacts of the plague is striking. A specialist today would be extremely intrigued by the exactness and point by point depiction of the plague: â€Å"Externally the body was not exceptionally hot to the touch, nor was there any paleness: the skin was somewhat rosy and enraged, breaking out into little pustules and ulcers.† This exact portrayal of the plague would be practically identical to any portrayal composed today. The logical objectivity exhibited by the antiquated Greeks impacted our clinical, and non-clinical, depiction today.      Many old Greeks, for example, Socrates utilized rationale, another significant device of present day Western idea. Socrates, by posing straightforward inquiries, had the option to draw answers from individuals that bolstered his contention. By considering an issue, bit by bit, Socrates had the option to figure answers to an issue or question. This set out the establishment for present day rationale. â€Å"Not by any means, my dear Agathon. It is truth that you discover difficult to withstand; there will never be the smallest trouble in withstanding Socrates.† This shows Socrates just considered himself to be a manual for rationale.      Aristotle, one of the absolute first researchers, utilized proof to help his cases. Today, any contention caused must to be bolstered by proof. Any contention not bolstered by proof isn't acknowledged as certainty. Aristotle’s utilization of proof made his contentions solid and persuading, regardless of whether he was very off-base. At the point when Aristotle composes â€Å"Again, if the earth all in all is fit for skimming upon water, that must clearly be the situation with any piece of it. In any case, perception shows this isn't the situation. Any bit of earth goes to the base, the snappier the bigger it is† he can demonstrate his point by the utilization of proof. The technique wherein Aristotle upheld his contentions is continually utilized today as it shows that the point one is contending is valid. Present day Western Thought :: expositions look into papers Present day Western however has been molded by accentuation on logical reasoning and thinking from the hour of Copernicus, Galileo and Newton. The logical transformation brought forth another period of thought, in which perceptions were made to help a thought. This included what man could demonstrate through sense, not religion or odd notion. Prominent antiquated Greek students of history, scholars and researchers, for example, Thucydides, Socrates, Aristotle, and Hippocrates, set out the seeds of present day Western idea.      An antiquated Greek essayist who showed present day logical objectivity was Thucydides. After some time, this sort of logical objectivity has become a significant apparatus of current Western idea. The clarity and detail of Thucydides’ portrayal of the impacts of the plague is striking. A specialist today would be intrigued by the exactness and itemized portrayal of the plague: â€Å"Externally the body was not exceptionally hot to the touch, nor was there any paleness: the skin was somewhat rosy and irate, breaking out into little pustules and ulcers.† This exact depiction of the plague would be practically identical to any depiction composed today. The logical objectivity exhibited by the old Greeks affected our clinical, and non-clinical, portrayal today.      Many old Greeks, for example, Socrates utilized rationale, another significant instrument of current Western idea. Socrates, by posing straightforward inquiries, had the option to draw answers from individuals that bolstered his contention. By considering an issue, bit by bit, Socrates had the option to plan answers to an issue or question. This set out the establishment for current rationale. â€Å"Not by any stretch of the imagination, my dear Agathon. It is truth that you discover difficult to withstand; there will never be the smallest trouble in withstanding Socrates.† This shows Socrates just considered himself to be a manual for rationale.      Aristotle, one of the absolute first researchers, utilized proof to help his cases. Today, any contention caused must to be upheld by proof. Any contention not bolstered by proof isn't acknowledged as actuality. Aristotle’s utilization of proof made his contentions solid and persuading, regardless of whether he was very off-base. At the point when Aristotle composes â€Å"Again, if the earth all in all is fit for gliding upon water, that must clearly be the situation with any piece of it. In any case, perception shows this isn't the situation. Any bit of earth goes to the base, the faster the bigger it is† he can demonstrate his point by the utilization of proof. The technique where Aristotle bolstered his contentions is continually utilized today as it shows that the point one is contending is valid.

Effective Training Essay Example for Free

Compelling Training Essay The administration division of every association is significant in their separate activity. In each gathering, a pioneer must exist to lead, guide and representative significant assignments and duties with every part to accomplish the proficiency in the utilization of their assets and the achievement of the activity. Essentially, in the business association, the pioneers of the foundation are significant in their activity as they show to manage the business towards the accomplishment of their monetary objectives and normal intrigue. Regarding the activity, they are the ones that delegate the multifaceted assignments and duties to every one of the part for their advantages and achievement. Above all, the pioneers are the ones that must assess and choose in regards to significant issues and issues in the business association to guarantee the positive outcome and nonstop financial activity. Since the pioneers of every business association are significant for the gathering, the establishment should profoundly perceive the compelling determination of the people set in their top official position. To get the best line up for the top official position, the association must actualize certain ways to deal with accomplish this outcome and guarantee the nature of their administration chief segment. One of the conceivable arrangement in guaranteeing this status is the improvement of progression plan for the positions in top official positions. Normally, people by and by possessing top official positions are not changeless as are their job viability. All things considered, the association must anticipate this situation and build up a positive projection to guarantee the current official adequacy through getting ready for the progression and swap for every official. All things considered, the association can directly anticipate their turn of events and keep up the positive outcomes they are profiting for their current lineup. A portion of the potential methodologies in this angle are progression projection, preparing for qualified people, apprenticeship projects and others to guarantee that the constructive characteristics and characters of the current administrators lineup will be kept up for the business ceaseless achievement and improvement.

'Has nudity in advertising become dysfunctional Essay

'Has bareness in promoting become broken - Essay Example The discoveries indicated that blended outcomes. Greater part of the members felt that nakedness improved the adequacy of publicizing. Be that as it may, there were likewise a few members who felt that nakedness brought down the adequacy of promoting. The discoveries of this examination have suggestions for advertising specialists and for individuals answerable for creating adverts. There is a dire requirement for advertisers to see how their objective clients will see the advert that contains nakedness. Advertisers need to regard the perspectives on their clients and not show anything which may affront them. By and by it is seen that using nakedness in limited time commercials has take up pace and numerous individuals are getting bulldozed as well. Organizations are worried about huge scope income age and thusly it is alright for them to disregard a few guidelines of ethics. 14 It ought to be noted here according to Gibson (1982), that the most significant parts of an association that are portrayed in its marking and promotion plans are hierarchical culture and authoritative structure. 15 A company’s inward condition has a lot of mental and affordable heading on the company’s working. It fills in as the worldview says Cassidy (2005) in which laborers from various offices work to a not so distant. It is in this manner essential for all the parts to work in absolute solidarity with one another. An agreeable situation catalyzes a progressively proficient reaction with better outcomes as clarified by Kasoori (2009) 20 A prosperous strategy in the organization ought to consider a type of efficient and furthermore adequately spread notice advancements which may be both similarly powerful and furthermore serviceable. Elliot (1997) says that various variable broad communications transmission choices must be utilized; web, radio broadcasts and furthermore TV must be utilized by limited time battles as the things alongside the business

APA Style Template Avoiding Plagiarism in Papers Reports

APA Style Template Avoiding Plagiarism in Papers Reports At the point when you compose a report, you need to ensure that its in the right arrangement. In the business world, introduction is everything, and you need to ensure that you are introducing your information in the right configuration. In like manner, you will need to guarantee that every scholarly paper you make are fundamentally stable and linguistically right. One of the entanglements of composing is unintentional copyright infringement. With messy reference, you can make a bastion of issues that can sabotage your examination. You will need to adjust your composition to the APA style, utilizing APA style reference. With an APA style layout, you can rapidly and effectively group your reports and scholarly papers. Utilizing an APA style layout, you essentially enter the data you plan to utilize, and the organizing is dealt with in a flash. Truth be told, you can embed regularly utilized references, utilizing APA programming that will store your hotspots for simple inclusion into your APA style format. The Importance of an APA Style Template The significance of right references is limitless. At the point when you make different people groups citations and work look like your own, you sabotage the certainty of the peruser. You need to ensure that you are introducing a trustworthy report, and refering to every essential source.

What is a “hybrid” school

Most people are familiar with the terms â€Å"hybrid cars† or â€Å"hybrid plants,† but have you ever heard of a â€Å"hybrid school†? This unusual type of school is growing in popularity across the country. If you are a parent, teacher, or administrator, you may come across the term and be curious what it means. Hybrid schools apply what some educators refer to as â€Å"blended learning,† where students get to mix traditional school attendance with home instruction. Hybrid schools share some of the following distinctions: Students attend school in a classroom setting, usually 2-3 days per week. The school chooses the curriculum that will be used. Teachers provide the primary instruction and assign grades. Parents are highly involved, facilitating learning on the days students are at home. Hybrid schools are very interesting to us at IEW. We have both a school division (dedicated to full-time educational environments) and a homeschool division (equipping families in the U.S. and abroad for home education environments). We’ve tried to fit hybrids into one or the other division, but they are a special kind of school. So we are excited to offer a new department: the IEW Hybrid School Division! We have trained staff dedicated to assisting hybrid school parents, teachers, and administrators specifically with how to implement IEW materials in their unique â€Å"hybrid† situations. Do you know a hybrid school teacher or parent? We would be delighted to send them a review packet. Simply email a request to HybridSchools@IEW.com. Laura House  discovered  IEW  while homeschooling her three children and now enjoys helping other families transform their students' abilities by introducing them to  IEW. She serves as the Hybrid Schools Manager and  as an exhibitor at homeschool conventions. Laura and her husband, Gary, live in Virginia, close to their three grown children who are also grateful for the skills they learned from  IEW.​ Log in or register to post commentsLaura Houses blog Log in or register to post comments

Financial Planning for Physicians, Med Students, and Premeds

document.createElement('audio'); https://media.blubrry.com/admissions_straight_talk/p/www.accepted.com/hubfs/Podcast_audio_files/Podcast/IV_Ryan_Inman_2019.mp3Podcast: Play in new window | Download | EmbedSubscribe: Apple Podcasts | Android | Google Podcasts | Stitcher | TuneIn | Spotify Interview with Ryan Inman, President and Financial Planner at Physician Wealth Services [Show Summary] How are you going to pay for medical school? How are you going to pay off your med school debt after you start practicing? How will you be able to afford a home and some of the comforts you’ve worked so hard for? Those are the questions we’re going to discuss today with an expert in financial planning who focuses strictly on residents and physicians. Financial Planning for Doctors [Show Notes] Ryan Inman is the President and Financial Planner at Physician Wealth Services, which he runs from Las Vegas, NV. He is also the host of the Financial Residency Podcast. Both are aimed at medical students, residents, and physicians in their first 10 years of practice. In addition to a Bachelors in Accounting, Ryan has an MBA and a Masters in Accounting and Financial Management, Personal Finance, all from the University of San Diego. Ryan, can you tell us a little about your background and how you began your career in financial planning and advising? [2:00] I got my first glimpse at investment advising from my neighbor. I was the nerdy kid who saved all his money and asked his mom to open up a TD Ameritrade account so I could trade stocks. My neighbor was a certified financial planner, working with high net worth individuals of $1M+, and â€Å"working† with him I knew what I wanted to do. When I got out of college in 2008 the entire financial industry was decimated so I ended up starting with KPMG in public accounting. Ultimately I went to work with my neighbor doing financial planning. I started dating my wife as a freshman in college. We got married 10 years later, and we’ve been married for five, which is how I got into advising physicians, as she is one. I saw all the stuff my wife and her colleagues were pitched – terrible investment products, using fear and scare tactics to sell them so I helped them out. As my wife and I started talking about our future – whether we wanted kids, our career paths – I realized I really wanted to work with physicians. All of our friends are doctors or financial planners and it’s what I really love doing so I’m very happy to be talking on the show to premeds to arm them with knowledge before they get to med school to avoid mistakes on the back end. Why have you focused on guiding medical students and doctors early in their careers? Why do they need different advice than a young lawyer or young engineer, for example? [5:21] One is I’ve been there. I have intimate knowledge of the pain, struggles, and yes, of course joys of a career in medicine. I know what it’s like to be buried in student debt, with your spouse making next to nothing, sleeping every fourth night in the hospital. This is a main driver of why I only work with physicians. In terms of how they are different, a few things stand out. One, they have delayed gratification. They put so much aside to become a doctor – not just financially, but free time, social time and are earning pennies per hour in their residency, essentially. They take their work home and chart and that time is not reimbursed, for example. I have clients who have put off starting a family due to student debt. My average client has $283K of debt, and there is a reason why they are overwhelmed with what to do. They are never trained in finance but are then expected to run their own practices. The biggest thing after all of this delayed gratification is they experience this insane lifestyle inflation. An attending salary may be $340K after making about $55K as a resident. That is an insane amount of money coming at them. They had put off buying a car, buying a house, saving in a 529 if they have kids, and suddenly the lifestyle creep goes through the roof. Then they find themselves stuck after 2-3 years – â€Å"I overcommitted, my debts are crazy, student loan repayments are starting to come due.† All this newly found money is a giant carrot and it’s understandable you want to spend all of it because you sacrificed so much. What is your top advice for premeds? [10:13] I don’t have all the answers but can look at it with a financial lens. Take  the cheapest school you can actually get into. Some of my clients go to these elite schools in high cost of living areas and come out with a massive amount of debt. It is hard for me to believe that a school that is 2-3x more expensive has that much difference with career prospects. My wife got in-state tuition, and lived at home for the most part. She could have gone to Stanford but making these choices allowed her to not take so many loans and not pay a crazy amount of tuition. That one decision is going to determine the next 20 years of financial success, because you will pay student debt for a long time. The number two thing would be to begin your financial education today because you will not get it in med school, residency, or your fellowship. The people you will reach out to are your peers who also don’t know what’s going on. You are never given the opportunity to study personal finance during your training. There are tons of great books, blogs, podcasts, etc., and do that early before you start getting into six figure debt. My last thing is for med students. Pick a residency in a low cost of living area. We did so in Orange County, CA which made it significantly harder to not get into financial trouble. We did ok, primarily because I was working, so be careful about that and/or make sure a spouse works. If my wife was on her own it would have been really hard for her to make rent and pay for much without going into credit card debt. Using me as an example, the cost of rent in San Diego for a 3BR house, which is 12-1300 sq ft in a decent part of town (a place my wife could jog without me worrying) that rent is $2500. My family is from Las Vegas. I can rent a place there in a gated community that is 500-600 sq ft bigger and pay just $900-$1000 in rent. Linda: My friend’s daughter and husband live in West LA in a 2-bedroom condo, and are moving to Cincinnati and buying a 6,000 sq ft house on an acre of land for slightly less than they anticipate getting for their condo, so the difference in cost of living between Los Angeles and Cincinnati is enormous. Hypothetical, and probably not so hypothetical question: An applicant is accepted at School A, but really wants to attend School B. B is closer to family, but it’s in a much higher cost of living state. Tuition is about the same at both programs. Should the applicant decline the offer of admission from School A, go get a Masters to improve her qualifications and hopefully get accepted to School B? Or should she grab the acceptance, deal with the distance, and get started on med school? [17:36] That’s an interesting question. A couple things play out in my head. A masters is going to cost money so you’re taking on more debt in order for your CV to look better to get into another school to take on more debt. You have deferred earnings, and every year you wait might be several hundred thousand dollars. I would assume if you got into med school and declined it, it would actually have a negative effect the next time you apply, so not sure how that looks. The last piece is if school A is in a lower cost of living area, use the savings to travel home, and speaking from experience, my wife studied all the time. We dated long distance, and I was the one coming to visit her not the other way around, and it was nice of her to make time but she was really busy. You’re not going to have a ton of free time anyway. What do you think of some of the public service programs or the U.S. Military options for financing one’s medical education. I interviewed Captain Jennifer Cox for our July 4 program about the military options (listen to that episode here). [19:43] Some are state specific, but from a general standpoint if you are going to come out in a residency and set up a 501c3, you will keep track of qualified payments up to 120. First year you have zero dollar payments that count toward the 120. Could you in theory make a similar salary? Take into account the size of your balance, your specialty, how much you will make there, where you want to work, if you want to be an academic (that is easy then you shouldn’t look at PSLF). In general, if you can get through with a three-year residency and a three-year fellowship in a job in the public sector, you are already 60% of the way through. Servicers really don’t know what they are doing. I see errors in my client loans in descriptions, qualified payments, and more – one client went to residency for three years, did a three-year fellowship, and they said the work history is 56 payments in residence, two in fellowship, but since you have a 501c3 and payments going through there, it’s not aligning with the right time period. In terms of timing they were double counting what will happen when he reaches 120. There is no forgiveness on loans, and lenders are going to try and find everything wrong in the paperwork. They are not trying to give you a favor, so be careful what info you trust and follow. Supply all the paperwork every year for certification. Make sure you have the correct dates for correct institutions and correct number of payments. What should med students comparing student loan options be looking closely at? [24:23] The best loan you can have is the one you don’t take out. If there is a way to not take out as much in loans to live off of, if you can figure out how to budget and understand how much it is for housing and to eat and not go overboard, not take luxury vacations and blow finances up, that is best. Med school and residency is about financial survival and not getting into significant credit card debt and loans since you are paying back with interest. Interest is not cheap and it compounds, so that loan you don’t have to take out is the best thing you can do for yourself. No one will care as much about your money as you, so understand how to budget and not take out too many loans and get into crazy credit card debt. How do you advise residents or young doctors, usually in their early 30s, to pay off their student loans and at the same time start saving some money, either for a house or for retirement? [27:32] It sounds fundamental, but the more I dive into physicians and their finances I hear, â€Å"It was free money so I took it,† and it’s not, and it is going to come due with interest. If you address it in the very beginning your problems will be much smaller. Debt vs savings is the number one question I get asked. It is different for everyone. I am not going to say it depends. If you have high interest debt it needs to be extinguished. If you are a resident and new attending and the company gives a match, and the first 2% of saving is a dollar for dollar match, invest to get a match and pay down any high interest debt incurred, 7% or above. I would then try to max out tax-advantaged accounts like 401Ks or 403bs, and if you’re a resident contribute to a Roth directly or do a backdoor Roth. Student debt will come due so think about that. How debt averse are you? Will you pay it back when you can, or does it keep you up at night and you need to eliminate it ASAP? For anything above 5% interest allocate as much money as possible to eliminate it as quickly as you can. Many people do a combination of debt and investing. When you pay down debt you are â€Å"earning† that money back. If there is a remainder then it comes down to what are the other competing goals – house, saving for kids, college, etc. For me, I had to make sure our retirements were taken care of before their school. I can put debt on their education but not on my retirement. I need to make sure retirement is taken care of before doing other things. What financial advice do you have for students once they’re in med school? [33:37] I have a client who is a Lyft driver, and he uses earnings from that for his â€Å"fun† money, so think about something like that if the lifestyle allows. Any specific advice for significant others of med students, physicians, residents, and fellows? [35:53] You have to be understanding. That immediately comes to mind. The career is tough, there are long hours, and you are splitting time with your spouse and their career. From a spouse perspective you have to understand it is important to them. They are doing whatever they can to save lives/do good and help people, and the time commitments are such that you need to understand. The career takes priority over a lot of things. I had to move around a lot in my own career so she could go through and do her training. In grad school I traveled every weekend to visit her in Kansas to make sure we kept the relationship alive. She didn’t have time to take to come see me. In residency if I wasn’t already living there, I would have had to move most likely. I had to put my career in limbo for a little bit. There is a lot of sacrifice that goes in that you don’t really think about maybe, as well as possibly taking on a heavy debt load. How do you help physicians, physicians-in-training, and their families? [38:45] Think of me as your PCP for your finances. What I do is help physicians take control over their money, to understand how they spend money, and where they would like to spend money. What does your ideal life look like? How will you use the money vs how much do you have or how much money do you make? I don’t care how much money a client has, I want to know what drives them, to figure out how can we align the money around their life. Any last pearls of financial wisdom for aspiring doctors? [40:11] The biggest mistake I see physicians make is when you finish training don’t let the lifestyle inflation go crazy. Give yourself a â€Å"raise,† but don’t spend everything you have in your new position, be responsible for your finances. Related Links: †¢ Financial Residency, podcast and free resources for physicians and physicians in training †¢ Physician Wealth Services †¢ Navigate the Med School Maze, a free guide to medical school admissions †¢ Accepteds Medical School Admissions Consulting Services Related Shows: †¢ Get into University of Washington Medical School †¢ Why Should Medical School Take Four Years? †¢ The Military: One Way to Get an MD Debt-Free †¢ The Importance of Teaching Management in Medical School †¢ Promoting Financial Health for Doctors Subscribe: Podcast Feed Financial Planning for Physicians, Med Students, and Premeds document.createElement('audio'); https://media.blubrry.com/admissions_straight_talk/p/www.accepted.com/hubfs/Podcast_audio_files/Podcast/IV_Ryan_Inman_2019.mp3Podcast: Play in new window | Download | EmbedSubscribe: Apple Podcasts | Android | Google Podcasts | Stitcher | TuneIn | Spotify Interview with Ryan Inman, President and Financial Planner at Physician Wealth Services [Show Summary] How are you going to pay for medical school? How are you going to pay off your med school debt after you start practicing? How will you be able to afford a home and some of the comforts you’ve worked so hard for? Those are the questions we’re going to discuss today with an expert in financial planning who focuses strictly on residents and physicians. Financial Planning for Doctors [Show Notes] Ryan Inman is the President and Financial Planner at Physician Wealth Services, which he runs from Las Vegas, NV. He is also the host of the Financial Residency Podcast. Both are aimed at medical students, residents, and physicians in their first 10 years of practice. In addition to a Bachelors in Accounting, Ryan has an MBA and a Masters in Accounting and Financial Management, Personal Finance, all from the University of San Diego. Ryan, can you tell us a little about your background and how you began your career in financial planning and advising? [2:00] I got my first glimpse at investment advising from my neighbor. I was the nerdy kid who saved all his money and asked his mom to open up a TD Ameritrade account so I could trade stocks. My neighbor was a certified financial planner, working with high net worth individuals of $1M+, and â€Å"working† with him I knew what I wanted to do. When I got out of college in 2008 the entire financial industry was decimated so I ended up starting with KPMG in public accounting. Ultimately I went to work with my neighbor doing financial planning. I started dating my wife as a freshman in college. We got married 10 years later, and we’ve been married for five, which is how I got into advising physicians, as she is one. I saw all the stuff my wife and her colleagues were pitched – terrible investment products, using fear and scare tactics to sell them so I helped them out. As my wife and I started talking about our future – whether we wanted kids, our career paths – I realized I really wanted to work with physicians. All of our friends are doctors or financial planners and it’s what I really love doing so I’m very happy to be talking on the show to premeds to arm them with knowledge before they get to med school to avoid mistakes on the back end. Why have you focused on guiding medical students and doctors early in their careers? Why do they need different advice than a young lawyer or young engineer, for example? [5:21] One is I’ve been there. I have intimate knowledge of the pain, struggles, and yes, of course joys of a career in medicine. I know what it’s like to be buried in student debt, with your spouse making next to nothing, sleeping every fourth night in the hospital. This is a main driver of why I only work with physicians. In terms of how they are different, a few things stand out. One, they have delayed gratification. They put so much aside to become a doctor – not just financially, but free time, social time and are earning pennies per hour in their residency, essentially. They take their work home and chart and that time is not reimbursed, for example. I have clients who have put off starting a family due to student debt. My average client has $283K of debt, and there is a reason why they are overwhelmed with what to do. They are never trained in finance but are then expected to run their own practices. The biggest thing after all of this delayed gratification is they experience this insane lifestyle inflation. An attending salary may be $340K after making about $55K as a resident. That is an insane amount of money coming at them. They had put off buying a car, buying a house, saving in a 529 if they have kids, and suddenly the lifestyle creep goes through the roof. Then they find themselves stuck after 2-3 years – â€Å"I overcommitted, my debts are crazy, student loan repayments are starting to come due.† All this newly found money is a giant carrot and it’s understandable you want to spend all of it because you sacrificed so much. What is your top advice for premeds? [10:13] I don’t have all the answers but can look at it with a financial lens. Take  the cheapest school you can actually get into. Some of my clients go to these elite schools in high cost of living areas and come out with a massive amount of debt. It is hard for me to believe that a school that is 2-3x more expensive has that much difference with career prospects. My wife got in-state tuition, and lived at home for the most part. She could have gone to Stanford but making these choices allowed her to not take so many loans and not pay a crazy amount of tuition. That one decision is going to determine the next 20 years of financial success, because you will pay student debt for a long time. The number two thing would be to begin your financial education today because you will not get it in med school, residency, or your fellowship. The people you will reach out to are your peers who also don’t know what’s going on. You are never given the opportunity to study personal finance during your training. There are tons of great books, blogs, podcasts, etc., and do that early before you start getting into six figure debt. My last thing is for med students. Pick a residency in a low cost of living area. We did so in Orange County, CA which made it significantly harder to not get into financial trouble. We did ok, primarily because I was working, so be careful about that and/or make sure a spouse works. If my wife was on her own it would have been really hard for her to make rent and pay for much without going into credit card debt. Using me as an example, the cost of rent in San Diego for a 3BR house, which is 12-1300 sq ft in a decent part of town (a place my wife could jog without me worrying) that rent is $2500. My family is from Las Vegas. I can rent a place there in a gated community that is 500-600 sq ft bigger and pay just $900-$1000 in rent. Linda: My friend’s daughter and husband live in West LA in a 2-bedroom condo, and are moving to Cincinnati and buying a 6,000 sq ft house on an acre of land for slightly less than they anticipate getting for their condo, so the difference in cost of living between Los Angeles and Cincinnati is enormous. Hypothetical, and probably not so hypothetical question: An applicant is accepted at School A, but really wants to attend School B. B is closer to family, but it’s in a much higher cost of living state. Tuition is about the same at both programs. Should the applicant decline the offer of admission from School A, go get a Masters to improve her qualifications and hopefully get accepted to School B? Or should she grab the acceptance, deal with the distance, and get started on med school? [17:36] That’s an interesting question. A couple things play out in my head. A masters is going to cost money so you’re taking on more debt in order for your CV to look better to get into another school to take on more debt. You have deferred earnings, and every year you wait might be several hundred thousand dollars. I would assume if you got into med school and declined it, it would actually have a negative effect the next time you apply, so not sure how that looks. The last piece is if school A is in a lower cost of living area, use the savings to travel home, and speaking from experience, my wife studied all the time. We dated long distance, and I was the one coming to visit her not the other way around, and it was nice of her to make time but she was really busy. You’re not going to have a ton of free time anyway. What do you think of some of the public service programs or the U.S. Military options for financing one’s medical education. I interviewed Captain Jennifer Cox for our July 4 program about the military options (listen to that episode here). [19:43] Some are state specific, but from a general standpoint if you are going to come out in a residency and set up a 501c3, you will keep track of qualified payments up to 120. First year you have zero dollar payments that count toward the 120. Could you in theory make a similar salary? Take into account the size of your balance, your specialty, how much you will make there, where you want to work, if you want to be an academic (that is easy then you shouldn’t look at PSLF). In general, if you can get through with a three-year residency and a three-year fellowship in a job in the public sector, you are already 60% of the way through. Servicers really don’t know what they are doing. I see errors in my client loans in descriptions, qualified payments, and more – one client went to residency for three years, did a three-year fellowship, and they said the work history is 56 payments in residence, two in fellowship, but since you have a 501c3 and payments going through there, it’s not aligning with the right time period. In terms of timing they were double counting what will happen when he reaches 120. There is no forgiveness on loans, and lenders are going to try and find everything wrong in the paperwork. They are not trying to give you a favor, so be careful what info you trust and follow. Supply all the paperwork every year for certification. Make sure you have the correct dates for correct institutions and correct number of payments. What should med students comparing student loan options be looking closely at? [24:23] The best loan you can have is the one you don’t take out. If there is a way to not take out as much in loans to live off of, if you can figure out how to budget and understand how much it is for housing and to eat and not go overboard, not take luxury vacations and blow finances up, that is best. Med school and residency is about financial survival and not getting into significant credit card debt and loans since you are paying back with interest. Interest is not cheap and it compounds, so that loan you don’t have to take out is the best thing you can do for yourself. No one will care as much about your money as you, so understand how to budget and not take out too many loans and get into crazy credit card debt. How do you advise residents or young doctors, usually in their early 30s, to pay off their student loans and at the same time start saving some money, either for a house or for retirement? [27:32] It sounds fundamental, but the more I dive into physicians and their finances I hear, â€Å"It was free money so I took it,† and it’s not, and it is going to come due with interest. If you address it in the very beginning your problems will be much smaller. Debt vs savings is the number one question I get asked. It is different for everyone. I am not going to say it depends. If you have high interest debt it needs to be extinguished. If you are a resident and new attending and the company gives a match, and the first 2% of saving is a dollar for dollar match, invest to get a match and pay down any high interest debt incurred, 7% or above. I would then try to max out tax-advantaged accounts like 401Ks or 403bs, and if you’re a resident contribute to a Roth directly or do a backdoor Roth. Student debt will come due so think about that. How debt averse are you? Will you pay it back when you can, or does it keep you up at night and you need to eliminate it ASAP? For anything above 5% interest allocate as much money as possible to eliminate it as quickly as you can. Many people do a combination of debt and investing. When you pay down debt you are â€Å"earning† that money back. If there is a remainder then it comes down to what are the other competing goals – house, saving for kids, college, etc. For me, I had to make sure our retirements were taken care of before their school. I can put debt on their education but not on my retirement. I need to make sure retirement is taken care of before doing other things. What financial advice do you have for students once they’re in med school? [33:37] I have a client who is a Lyft driver, and he uses earnings from that for his â€Å"fun† money, so think about something like that if the lifestyle allows. Any specific advice for significant others of med students, physicians, residents, and fellows? [35:53] You have to be understanding. That immediately comes to mind. The career is tough, there are long hours, and you are splitting time with your spouse and their career. From a spouse perspective you have to understand it is important to them. They are doing whatever they can to save lives/do good and help people, and the time commitments are such that you need to understand. The career takes priority over a lot of things. I had to move around a lot in my own career so she could go through and do her training. In grad school I traveled every weekend to visit her in Kansas to make sure we kept the relationship alive. She didn’t have time to take to come see me. In residency if I wasn’t already living there, I would have had to move most likely. I had to put my career in limbo for a little bit. There is a lot of sacrifice that goes in that you don’t really think about maybe, as well as possibly taking on a heavy debt load. How do you help physicians, physicians-in-training, and their families? [38:45] Think of me as your PCP for your finances. What I do is help physicians take control over their money, to understand how they spend money, and where they would like to spend money. What does your ideal life look like? How will you use the money vs how much do you have or how much money do you make? I don’t care how much money a client has, I want to know what drives them, to figure out how can we align the money around their life. Any last pearls of financial wisdom for aspiring doctors? [40:11] The biggest mistake I see physicians make is when you finish training don’t let the lifestyle inflation go crazy. Give yourself a â€Å"raise,† but don’t spend everything you have in your new position, be responsible for your finances. Related Links: †¢ Financial Residency, podcast and free resources for physicians and physicians in training †¢ Physician Wealth Services †¢ Navigate the Med School Maze, a free guide to medical school admissions †¢ Accepteds Medical School Admissions Consulting Services Related Shows: †¢ Get into University of Washington Medical School †¢ Why Should Medical School Take Four Years? †¢ The Military: One Way to Get an MD Debt-Free †¢ The Importance of Teaching Management in Medical School †¢ Promoting Financial Health for Doctors Subscribe: Podcast Feed