Whitney Palmer

Financial Planning For Radiology Residents

Published on the Dec. 30, 2014 DiagnosticImaging.com website

By Whitney L.J. Howell

CHICAGO — It is well known that resident salaries are falling below those of practicing providers. But, if you establish good financial planning habits now, it will be easier to manage your income and prepare for retirement.

During the Resident Forum at this year’s Radiological Society of North America meeting, Greg Wikelius, a financial planner with Chicago’s North Star Resource Group, offered guidance to help radiology residents map out their future financial security.

“The most critical time in your financial life is when you transition from training as a radiology resident into practice,” he said. “The reason is you’re not yet used to spending the higher income. This is the easiest time to get on track – if you make the necessary cuts in your income now, you’ll never miss what you’re cutting out. It’ll be much harder to do 10 years from now if you’re accustomed to spending the money.”

To read the article in its entirety at its original location: http://www.diagnosticimaging.com/rsna-2014/financial-planning-radiology-residents

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