Doctor’s Rounds™

*The views expressed by the authors below do not represent the views or opinions of MD Preferred Services.

A Breakdown of How Student Loans Work

Wednesday, March 15, 2017

This article originally appears here.

Federal student loans are often the first step for students looking for help paying for college.

They’re not the only type of loans for college students, but they’re the most common and are different than private student loans. Here are some of the main differences:

1.  Federal loans offer lower interest rates and have more flexible repayment terms than private student loans.

2.  Private loans usually require a credit check and collateral, while federal loans don’t. Some federal loans may only require proof of need.

3.  Interest rates are fixed on federal loans, while private loans can have variable interest rates, some greater than 18 percent.

4.  Interest paid on federal student loans may be tax deductible, but not on private loans.

5.  Many private student loans require payments while you’re in school, while repayment of federal student loans doesn’t start until you graduate, leave school or change our enrollment status to less than half-time.  READ MORE


Charleston, SC - Meet Medical Director and Board Certified Dermatologist, Dr. Todd Schlesinger

Tuesday, March 14, 2017

Interview sent in by MD Preferred Realtor, Josephine Traina

Dr. Todd Schlesinger wears many hats in life, husband, father, Medical Professional, Business Owner and Medical Director. Through continuous creative activity and the joy of achievement as a medical professional, he has spread happiness to his staff and his clients. He has turned his passion into a great business by living his passion and creating great value for others. Dr. Schlesinger exemplifies what it takes to make a business great....heart and dedication and an unwavering commitment to do more for others than anyone else. His goal of "showing up" and staying authentic means staying true to who you are, what you do and who you serve. In an environment in which more human elements matter it creates value and benefits for all. I have watched first hand how he has influenced his staff around a compelling vision of the future, by inspiring them, showing them what’s possible and motivating them to make those possibilities real. His energy and focus help his team fulfill their dreams gives them a sense of purpose and leaves them with a profound sense of accomplishment when the work is done. Dr. Schlessinger believes that the dermatology practice is a noble profession that includes a broad range of surgical procedures; it allows me to see patients of, from babies to geriatrics; and I have the opportunity to make a positive difference in people's lives. He is living his true passion….. Love: do what you love to do, and love your staff, and your clients.  Continue Reading on Parkbench - Charleston



4 Tips to Improve Your Resume During Employment Gaps

Monday, March 13, 2017

Life happens to everybody, and sometimes, individuals are forced to leave their job. From maternity leave to spouse relocation, there are a number of reasons why an NP or PA may have an employment gap on their resume.

While some cases are more justifiable than others, all gaps in employment that lost last longer than a month should be explained. Clarifying your situation is vital because recruiters and hiring managers are keen on knowing why these employment gaps occurred. This is especially true when submitting applications online, as software scans can eliminate candidates without continuous employment dates.

This often worries potential candidates who have been out of the job force for sometime and who may feel that their reasoning may read more like an excuse. Take heart in knowing that your personal situation was likely reason enough to require you to leave the field for an extended time. However, it’s still important that you address the situation effectively on your resume so you don’t set off any red flags against yourself.

At NP PA Recruiters, we understand that life can change in an instant, and with it, your personal circumstances. If you have been out of the medical field for some time, but are now ready to return and re-commit yourself to your passion of providing quality healthcare services, we can help.

While you are undoubtedly excited about your future prospects, it’s still important to point out and substantiate the past period in which you were unemployed. Consider the following four tips to help you fill in and explain your employment gap.  READ MORE


7 Tough Questions You Will Hear at the Interview (And Tips to Answer Them)

Thursday, March 09, 2017

You’ve made it through the application screening and onto the interview process—good work! But now comes the tough part—having to prove that you are the right candidate for the practice.

While standard interview questions should be expected (and can easily be searched online), interviewers also want to avoid hiring the wrong candidate, which can ultimately cost them time and money they don’t necessarily want to spend.

Because of this, your interviewer will likely ask you questions that are a little more unique in order to gain better insight into your mindset, and to see if you will mesh well with the practice.  READ MORE


Home Inspections For Doctors

Thursday, March 09, 2017

Ricardo Roberts, President
Doctor Loan USA

As you search for the perfect home, your real estate agent may suggest that you get a home inspection before you close on a property. A professional home inspection can help you negotiate a better price, but it can also be expensive: the average cost of a home inspection is $315, a fee the most homeowners are required to pay upfront.

Despite the cost, home inspections provide borrowers with valuable information about their property before closing. This article covers the basic elements of a home inspection and provides practical advice that will help you find a certified home inspector, navigate the inspection process, and negotiate a fair price.

Trust us. You need a home inspection. And you need a good inspector to ensure you get the job done right.  READ MORE


FHA To Reduce Annual Insurance Premiums on Most Mortgages

Monday, January 16, 2017

Thanks to Cyndi Carver for sending this article over to us.

As the nation's housing market continues to improve, U.S. Housing and Urban Development Secretary Julian Castro announced this week the Federal Housing Administration (FHA) will reduce the annual premiums most borrowers will pay by a quarter of a percent. FHA's new premium rates are projected to save new FHA-insured homeowners an average of $500 this year. FHA is reducing its annual mortgage insurance premium by 25 basis points for most new mortgages with a closing date on or after January 27, 2017. "After four straight years of growth and with sufficient reserves on hand to meet future claims, it's time for FHA to pass along some modest savings to working families," said Secretary Castro. "This is a fiscally responsible measure to price our mortgage insurance in a way that protects our insurance fund while preserving the dream of homeownership for credit-qualified borrowers." 

Full Story...  READ MORE


Home Prices Skyrocketing

Friday, December 09, 2016

By Cyndi Carver

Home prices have been skyrocketing in the Puget Sound area these past few years, rivaling the increases seen in California prior to the boom. Now with the interest rates edging upward (we knew this would happen), home buyers will be finding out they are losing buying power. What they qualified for in 2016 and did not buy because they couldn't find what they wanted. These same buyers will find that they lost buying power with the interest rate going up.

With 4.25% for a 30 year loan with $2000 a month payment, they qualify for a $400,000 loan. At 4.5%, they now only qualify for a $388,359 loan, a loss of $11,641 in buying power. at 5.25%, they will only qualify for a $356,347 loan, a loss of $43,653 in buying power.

This article from the Seattle Times gives a summary of the price increases in the Puget Sound area. The map is great for showing how each area around the sound for the month of November.  READ MORE


If You’re So Smart, Why Aren’t You Rich?

Friday, September 02, 2016

By: Anthony J. Ogorek, Ed.D., CFP
Ogorek Wealth Management LLC

As we slide into the Labor Day holiday after the summer of summers in Buffalo, NY, the presidential election cycle is shifting into high gear. The bromide that ‘people don’t pay much attention to the race until after Labor Day’ may not hold true today with seemingly blanket coverage of the major party candidates. There is one major story or insight that has gone unreported until now. Let me share it with you.

The singular qualification that Republication presidential nominee Donald J. Trump cites in his quest for the Oval Office is that he is rich. Further, he extrapolates that since he is rich, he must also be smart; and by extension being a billionaire – he is very smart. Hence, only a very smart individual can straighten out the problems that so many of us view as intractable. 

I am not trying to rag on Mr. Trump, but his candidacy does bring up an interesting point that deserves further exploration. How many of us accept the precept that you have to be smart to have a lot of money? That many people may talk a good game about their smart ideas, but only the really smart are able to convert ideas into net worth. Is money the ultimate IQ test?  READ MORE


Residency to Retirement: A Physician’s Guide to Financial Health

Monday, May 16, 2016

Here is a great article brought to our attention by Stephanie Arcelay of SunTrust Mortgage.  As the title suggests, it really goes through the process of being a student to retiring in your twilight years.  

Click to be taken to Nashville Medical News' site.
Residency to Retirement: A Physician’s Guide to Financial Health  READ MORE


Life Insurance is not a Retirement Plan

Friday, May 13, 2016

By David I. Katz, AAMS®, COO, CFO Financial Planner

Recently I was asked, to weigh in on life insurance policies in general and more specifically, their place in the retirement planning process.  While at first the topic might not seem directly on point for a retirement planning, many life insurance policies are sold under the guise of saving for retirement.

Should life insurance be a key part of your retirement plan? Life insurance should be a vital part of your overall financial plan, specifically, if people depend on your income (e.g. your children and your spouse). A sizable income tax free life insurance death benefit payment is the best way to maximize the chance that your dependent's standard of living is not dramatically reduced due to your untimely demise. In fact, income replacement is the number one factor couples site as a reason for purchasing life insurance.

Then the question becomes, what type of insurance should you purchase and is it a good idea to use insurance as an investment for retirement. If you listen to Suze Orman, Rick Edelman or other self proclaimed financial gurus the answer you will get is that there is no reason to buy anything other than term insurance and that permanent insurance helps no one except the agent/advisor that sold the policy. Others will argue that term insurance is a temporary fix and since in generally offers no equity it is like renting an apartment versus buying a home and that you are throwing you money away. Insurance industry legend Bob Castigione, creator of the LEAP selling system, will posit that every investment dollar that you have should be invested in permanent whole life insurance. The truth actually is somewhere in between.

When you purchase life insurance to protect your family, you'll want to be sure you buy adequatecoverage.  First and foremost, you want to make sure that if you die there is adequate funds available to take care of your family financially. For many people, that means purchasing Term Insurance which is the most affordable type of life insurance.  Others may still consider permanent insurance (Whole Life, Universal and Variable Universal) because they are drawn to the cash value (equity) that the policy builds over time. The problem is that purchasing the cash value insurance, however well intentioned may leave the family at risk. Let’s take an example of a male age 35 that is in good health and purchases a $1,000,000 whole life insurance policy from a (A+) rated insurance company. His premium as a select preferred rating will be approximately $10,960 per year. The policy will build cash value on a guaranteed basis and may build additional cash value based on what the policy owner chooses to do with any non-guaranteed dividends the company may pay each year.  Over time, the policy will build cash value in excess of the actual premiums that were paid. But what if he dies? As Shakespeare so aptly put it, “there’s the rub”. The family will still receive only the death benefit portion (which may increase over time if dividends are paid and used to purchase additional insurance) and not the cash value/savings portion.   READ MORE