Wealth-Building for Residents & Fellows

Strengthening Physicians for Early-Career Financial Challenges


Wealth-Building for Residents & Fellows

Strengthening Physicians for Early-Career Financial Challenges

Workshop Overview

This is an introductory workshop for physicians still in the clinical training phase of their careers, designed to prepare attendees to make constructive decisions during the crucial first three years of their careers in practice. The content is engaging, accessible, and actionable. Here are some of the key concepts we strive to inform on:

  • Why student loans are the primary concern of many young doctors, with some having loan balances greater than their projected starting salaries.
  • How to place loan balances in the context of your lifetime income and why loans should be manageable with proper planning.
  • Young doctors with student loans have a balance sheet problem. This isn’t an investment problem, and it doesn’t have an investment solution.
  • The Stanford marshmallow study: the psychology of deferred gratification.
  • Understand the time value of money. Spending in early career while delaying saving until later in a career, is likely to fail.
  • Lifetime financial success requires three elements to succeed: a commitment to savings from early career, a numbers-based approach to capital accumulation, and credible instruction about financial best practices.
  • Most programs of medical education do not include personal finance content. We offer a free financial education program delivered through weekly emails.

This is a fast-moving presentation that covers a broad set of facts and concepts. Participants can’t expect to master all of the material. Instead, we suggest a learning goal of absorbing one useful fact or concept and identifying one question for further study.

We keep the workshop content brief, at about 30 minutes, to leave plenty of time for an unlimited Q&A session to follow.

We recommend this as a first TriageMD financial workshop for residents and fellows.

We host our workshops on-site in teaching hospitals and virtually from our Radnor, PA office.  

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Many of our workshops are scheduled at local teaching hospitals, but we also welcome smaller groups at our Radnor office. We also offer virtual workshops.

The Wealth-Building for Residents & Fellows Workshop is presented by one of our TriageMD advisors.

If you are unable to attend our workshop at a hospital or at our office, please take advantage of a free consultation with TGS Financial Advisors. Simply note your interest in the workshop in the message field of the “Contact Us” form—we’re happy to discuss workshop content one-on-one.

Due to their education debt, emerging and new physicians often have a negative net worth. Because of this, they are not considered ideal customers by many financial planning firms. As a result, even though they face more important financial decisions in a condensed period of time than other professionals do, they tend to be underserved.

We offer our workshops free of charge because we feel strongly that the financial messages we share can make a significant difference in the quality of life for physicians and their families.

Do we also hope that you like our message well enough that you will become a client? Of course. But there are absolutely no strings attached.