Issue link: https://viewer.e-digitaledition.com/i/783222
NE W PHYSICIANS FACING GODZILL AŸGR ADE STUDENT LOAN REPAYMENT SHOULD ABANDON THE ILLUSION THAT THERE IS SOME UNIVERSALLY AGREEDŸUPON BAL ANCE BE T WEEN SHRINKING ONE'S EDUCATION DEBT AND MEE TING OTHER FINANCIAL RESPONSIBILITIES. T H E R E A L I T Y , A C C O R D I N G t o India napolis-based wea lth advisers Geo rey M. Tomes and Bruce Wayne Gaylord of Noyes Group LLC, is that a happy equilibrium doesn't look the same for all physicians. The "perfect " solution of repaying debt whi le simulta neously plung ing substa ntia l dolla rs into investments may not work for everyone, they write in Physician's Money Digest. Physicians needn't apolog ize for br ing ing bot h h a rd m at h a nd i nd iv idu a l com for t le v e l s t o t hei r a ppr o a c h t o e a rly- career fi nance. "As with much in life, compromise may be the most appropriate solution," Tomes and Gaylord write. "There isn't a 'right' or 'wrong' approach. There are emotional as well as fi nancial considerations." They note that physicians who have considered the benefi ts of judicious use of debt but who are ill at ease owing money may well be making the right decision by choosing to pay down debt before focusing on investing. While that does raise questions about when those provid- ers may be able to begin saving for, say, retirement or their children's education, it does not necessarily mean they haven't thought things through. They may simply know themselves. Median indebtedness among 2015 medical school graduates was $183,000, according to the Association of American Medical Colleges. ■ Physician, Know Thyself, Financial Advisers Urge BY STEVE BARRETT CORE 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 1 1 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 ■ 2 017