Here's a great article from MD Preferred member, Chris Wimberly. I'm only sharing the beginning part and I encourage our readers to jump over to #Lifeofamedstudent to read the article in its entirety.
As a 4th year medical student, you are within months of celebrating a major accomplishment in your life. Years of sleepless nights and cram sessions will finally start paying off. Congratulations!
In the next couple months, you will be transitioning from student to trainee. And, finally, you will be earning an income. Granted, it is a relatively low income compared to what you will be bringing in once you are an attending physician, but nonetheless, it is revenue.
As a student, you may have attended some sort of financial seminar. You’ve likely been informed of the value of emergency savings, managing debts, planning for long-term savings, and disability insurance. If you have not attended one of these financial sessions yet, as a resident you will undoubtedly have financial advisors showing up at your residency program ready to give you advice and even recommending certain products or strategies.
When it comes to disability insurance, here are five things you need to be aware of before you graduate medical school........