Your Burning Questions on Student Loans Disability Insurance Financial Advisors Mailbag Time

In this special mailbag video, Chad answers key financial questions from residents and early-career physicians. Hear more about navigating student loan decisions, especially the dilemma of Roth IRA versus student loan payments, weighing options when loans are in forbearance, or your PSLF eligibility is uncertain.

This video also discusses the importance of disability insurance for trainees and warns against delaying coverage—even healthy residents can become uninsurable due to unexpected health events. And it wraps with some top tips for finding a trustworthy financial advisor with the right credentials and a personality that fits well for a long-term partnership.

Financial wellness for physicians comes down to informed decision-making, whether it’s managing debt, protecting your income, or building a relationship with your financial advisor. Keep asking questions, seek out professionals you trust, and don’t be afraid to revisit your strategy as your career evolves.

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🚨 Looking for a team of experts? Check out the “Best of the Best” page on Physician Cents (my podcast!) Insurance Brokers, Mortgage Brokers, Student Loan Refinancing, and more. → https://www.physiciancents.com/resources

Key Insights 💡

• How to prioritize between making student loan payments and contributing to a Roth IRA.
• Understanding the implications of forbearance, accrued interest, and repayment plans such as PAYE, IBR, or ICR is crucial for managing your student loans.
• How to decide between a GSI disability policy and traditional underwriting, and your options for pivoting from one policy to another in the future.
• Choosing the right financial advisor, and key tips on how to evaluate fee structures, personality fit, and reliability.
• Financial factors to consider if you’re a resident with a high-earning spouse.
• How to switch financial advisors or move your managed assets, and what to expect during that transition process.

Highlights 🕒
00:00 Your questions on student loans, disability insurance, and getting financial advice
02:11 Prioritizing Roth IRA contributions versus student loan payments
05:20 Navigating repayment plans (SAVE, PAYE, IBR, ICR)
07:31 Choosing between GSI and traditional disability insurance policies
11:47 How does the assets under management fee model work when you work with a financial advisor?
14:05 How to find the right financial advisor as a physician

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Disclosures: This information is for general purposes only. This information is not intended to be a substitute for specific professional financial or tax advice, as individual circumstances vary. Please see a financial professional, CPA, and/or an attorney in regards to your own individual situation.