The student loan holiday has been extended for another three months. It ends on april 30 first, so you will start having to make payments in may. For a lot of white coat investures, this is a very good thing. You're saving thousands in interest and can use your money for other things. But inflation is up almost to seven % right now,. I don't see any reason why in the next few months it won't go even higher. So if you wait until May to refinance your student loans, you're likely going to get a higher interest rate than someone who refinances their student loans in january. The big risk of not financing now is not only do you
Today we discuss what happened in Congress and how, for now at least, the backdoor Roth lives on. You can proceed with your contributions as planned. Check out our tutorial to see how: https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/ . If at some point Congress decides to make this retroactively illegal, we will walk you through the process of undoing those contributions. We also discuss whether it is worth refinancing your student loans if you are not going for PSLF despite the extension of the student loan holiday. With inflation and rising interest rates this is a more complex question than it typically should be. We answer some questions about employer sponsored 401(k)s, signing bonuses and what kind of contributions to make if you are one of those super savers.
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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!
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