Jill on Money with Jill Schlesinger New Doctor, Am I Doing Enough?
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Sep 29, 2025 A new doctor grapples with his financial future while navigating hefty student loans and a demanding job. He reveals his $150K medical school debt and monthly rent of $3,300 in California. With a retirement plan offering a generous 25% profit share, Jill offers insights on balancing retirement savings with cashflow stability. They explore compensation options, including moonlighting for extra income. The conversation emphasizes prioritizing long-term financial health over immediate homeownership pressures.
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Prioritize Cash Flow Until Loan Forgiveness
- Prioritize building cash flow stability for the next six years until PSLF is expected to complete.
- Keep emergency savings and be ready to reallocate brokerage funds to cover shortfalls if needed.
New Doctor With Lingering Med School Debt
- George explained he just started earning about $300,000 after long medical training.
- He also reported roughly $150,000 in med school loans with payments rising soon.
Treat Mandatory Profit Sharing As Forced Savings
- Accept the employer's profit-sharing deduction and treat it as forced retirement saving.
- Plan your budget for a 25% pre-tax deduction up to the specified cap and test cash flow reaction.