Issue link: http://viewer.e-digitaledition.com/i/869747
BY STEVE BARRETT BUY A HOME IN THE RIGHT LOCATION, GOES THE TIME—HONORED ADVICE. BUT ACCORDING TO PHYSICIAN FAMILY FINANCIAL ADVISORS, IT IS ALSO VITAL FOR PHYSICIANS PURCHA SING A FIRST HOME TO GE T THE TIMING RIGHT. LOCATION, LOCATION ... TIMING THE CALCULUS CAN be complicated because of the unusua l f ina ncia l circumsta nces of newly minted physicia ns: They ty pica lly have little income histor y a nd a lot of debt, but high ea rning potentia l. Buy ing a home a s soon a s possible is tempting, Oregon- based Physicia n Fa mily Fina ncia l Advisors acknowledges. However, if a prov ider is not cer ta in he or she w i l l be in a g iven©ma rket long-term, that is risky. The investment could sou r i f t he© physicia n decides to move a nd d iscovers t he a rea's rea l estate ma rket ha s gone south a nd the mor tgage is under water. A good rule of thumb for physicia ns is to purchase a f irst home when they a re conf ident they will rema in in the a rea a minimum of seven yea rs. Ty pica lly, that mea ns they will have completed residency a nd a fellowship. A nother da nger is buying nea r a good school as soon as the physicia n a nd his or her spouse lea rn they will be having a baby. The t heor y is t hat t his w i l l prov ide a n educationa l adva ntage for the child. A w iser option: Buy when the chi ld nea rs kinderga r ten age. This offers some protection aga inst the possibilit y that a good school will not rema in good. ■ CORE FAIRMONT ORCHID KOHALA COAST, BIG ISLAND, HAWAII MARCH 5–9, 2018 Optional Pre-Course Sessions: March 4, 2018 REGISTER NOW REGISTER NOW Mayo Clinic School of Continuous Professional Development Essential Tools for the Clinician PRINCIPLES OF PAIN MANAGEMENT & PALLIATIVE CARE CE.MAYO.EDU/PPMPC2018 FAIRMONT ORCHID KOHALA COAST, BIG ISLAND, HAWAII MARCH 5–9, 2018 Join leading experts to review evidence-based pain treatment strategies, improve symptomatic management of complex medical illness, and facilitate crucial patient conversations. Photo courtesy of the Fairmont Orchid 1 4F I N A N C E