Strategic Financial Planning for Ambitious Surgeons
Dr. Torres faces a significant financial hurdle: a $750,000 buy-in to his surgical group practice coupled with $180,000 in outstanding student loans. Balancing these competing financial demands requires a strategic approach to debt management and investment. His primary concern is determining the optimal repayment strategy for his student loans while freeing up capital for the practice buy-in.
Using Golden Door Asset's Student Loan Calculator, we projected Dr. Torres' various repayment options, including income-driven repayment plans. The calculator demonstrated that by switching to an income-driven plan and aggressively paying down the loans for the first five years, Dr. Torres could minimize long-term interest payments and free up approximately $5,000 per month, directly contributing to his ability to afford the practice buy-in.
The Student Loan Calculator was integrated with the PITI Calculator to project the impact of a potential home purchase on Dr. Torres' cash flow. The Student Loan Forgiveness Calculator was used to evaluate long-term loan forgiveness options.
$65,000 in potential student loan interest savings over the life of the loan by optimizing repayment strategy.
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