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EDUCATING RESIDENTS AND FELLOWS IN INVESTING, BUDGE TING, RE TIREMENT PL ANNING AND REL ATED SUBJECTS WOULD YIELD LONG- TERM BENEFITS. T H AT 'S T H E C O N C L U SI O N of a sur vey, published in the International Journal of Medical Education, that evaluated the financial savvy of those groups. Respondents' median age was 30. The findings of the anonymous, cross-sectional, web-based survey — administered at Washington University School of Medicine in St. Louis and University of Arizona College of Medicine — were not encouraging: + More than 70 percent of respondents had student loan debt, and almost half of those owed more than $200,000. + More than 1 in 5 of the roughly 420 respondents carried credit card debt. + Only 262 respondents had any retirement savings, and most of those had saved less than $25,000. + About one-third reported they had at least some trouble paying bills each month. Not surprisingly, satisfaction with respondents' personal financial circumstances was greater among those who had no debt. " Residents a nd fellows had low f ina ncia l literacy a nd investment-risk tolerance, high debt, and deficits in their financial preparedness," the authors write. "Adding personal financial education to the medical education curriculum would benefit trainees." Overall, approximately three-fourths of U.S. medical students have educational debt, according to the Association of American Medical Colleges. n SURVEY: Residents, Fellows Struggle with Financial Literacy BY STEVE BARRETT CORE 059990052_FIN1 [P];9_View.indd 1 12/6/18 8:18 AM M D N E W S . C O M /// M D N E W S L O N G I S L A N D ■ 2 019 1 1 Bridging Problems with SolutionS™ 100 Quentin Roosevelt Blvd., GaRden City, ny 11530 Phone: (516) 296 1000 n Fax: (516) 296 1030 n www.milleRmilone.Com 49 wiReless Blvd., hauPPauGe, ny 11788 99 Quentin Roosevelt Blvd., GaRden City, ny 11530 Attorney Advertising At Miller & Milone, P.C. the whole surpasses the sum of its parts. Many of today's healthcare issues are quite complicated and require a multifaceted approach to achieve a solution. Our integrated five department system allows our firm to address complex problems with a myriad of solutions. Inquire about our ED Financial Assist™ Medicaid Program. F I N A N C E ❰❰❰❰❰ 1 1