Medical Student and Resident financial wellness centre

• How can I manage my debt?
• Should I consolidate my loans?
• Should I pay down debt or invest?
• How can I maximize tax savings?
• What insurance coverage do I need?
• Is buying a home a wise decision or should I continue renting?
• Am I saving enough for my child's education?
• Is incorporation right for me?
• Do I need a will?

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We partner with a national financial institution* to offer banking products designed to meet the needs of medical students and residents.

Features include:

• Competitive rates coupled with the advice of MD advisors.
• Banking solutions that can help you minimize debt so you can enter practice on a sound financial foot.
• Our virtual branch offers continuity of service wherever you are located during your training and throughout practice.
• Student & Resident Line of Credit
• Chequing account
• Mortgages
• Credit cards
• Practice financing

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MD Physician Services offers you access to exclusive and competitive insurance solutions in provinces where we have a special alliance with the provincial medical association. Discussing your insurance needs with your MD advisor will allow you to incorporate insurance into your financial plan and ensure you have the right coverage for now and the future.

• Protect your home and family
• Managing with a disability
• Coping financially with a death in the family
• Recovering from a critical illness

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Whether you want to invest now, are wondering when you should start or are looking to educate yourself about investing, we can help. There are many benefits to starting to invest now, even if you have student debt, including the magic of compounding and developing a disciplined approach to investing.

Since everyone's situation is unique, we recommend you talk to your MD advisor to create a financial plan, including investment and tax strategies, that is right for you and to update it annually to reflect your changing needs.

• MD Funds
• RRSPs
• TFSAs
• RESPs
• Online trading

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The decision to incorporate - or not - may be one of the more important financial decisions you make. Considering the advantages incorporation may offer, including tax savings, you owe it to yourself to carefully explore this option.

We are able to quickly assess whether it is worth spending the time and money exploring incorporation. If it is, your MD advisor can analyze the benefits for you. We work closely with your existing tax and legal advisors - and if you don't have such advisors - we can refer you to qualified professionals who have experience working with physicians.

Additionally, we offer all the products and services you would need as an incorporated physician to get the most value from incorporating - including comprehensive investment strategies, insurance solutions and estate planning.

Talk to your MD advisor about the pros and cons of incorporation.

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Don't miss a deadline during residency - complete the Family Medicine Resident timeline tool for a customized timeline of important tasks to survive residency.

Learn about the business side of medicine through our Practice Management Curriculum.

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• Contact your MD Advisor
• Become a CMA Member
• Practice Solutions
• Canadian Medical Foundation National Medical Student Bursary Program

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