Have the Right Coverage Levels
Remember the first rule of purchasing insurance – only purchase it if you can’t afford to lose the bet you’re making with the insurance company that the event will occur. Check out our post about life insurance for residents for more details on what insurance really is.
In our last post, we described the different types of automobile insurance coverages. Look at each type of coverage and determine if you really need it or not. If you have the ability to self-insure (that is, to pay for repairs yourself), then maybe you don’t need to purchase that form of coverage.
Read more…
matt Insurance Insurance
This week, our post that described 9 ways for medical students to begin building wealth was included in the 198th edition of the Carnival of Personal Finance – World Record Edition hosted by Ashley at Wide Open Wallet. Not only were we included, we were one of the five editor’s picks! Thanks Ashley!!
Last week, the description how compound interest helps you reach your goals was included in the 197th edition of the Carnival of Personal Finance hosted by Four Pillars.
Thanks to you both for hosting the carnivals!
matt Carnivals
Paying for auto insurance is something that most of us have to deal with but probably don’t spend enough time on to understand what we’re paying for. Here, we detail the various coverages provided by car insurers.
Types of Automobile Insurance
When you contact an insurance agent, they’ll ask you about your desired limits for several types of coverage. Most people just go with whatever their agents sell them, but you’re a doctor – you’re smarter than that! Here’s a breakdown of the different types of coverage along with tips to help you decide how much you need. Of course, pay attention to your local laws and make sure you have the minimum coverage for your state (your insurer shouldn’t let you go lower than this, anyway). Read more…
matt Insurance Insurance
Happy Match Day 2009! Hopefully you got into your choice of programs and can now relax and enjoy your last couple months as a med student. This post should help those of you who just matched and those of you who still have a couple years of school left to begin on your path towards a wealthy future! Read more…
matt Personal Finance Investing, medical student, personalfinance, retirement, Taxes
Albert Einstein referred to compound interest as the eighth wonder of the world. He was a smart guy, so it may be worth paying attention to his statements. Here we discuss what compound interest is and how it can help you on your path towards a wealthy future.
What is Compound Interest?
Compound interest is the name of the concept whereby interest is calculated on both principal and interest earned in the past. For exampe, if you put $1000 in the bank and earn 10% interest compounded annually, you will have $1100 in your account at the end of the first year. The next year, you won’t have $1200, you’ll have $1210 Read more…
matt Investing banking, interest, Investing
