Debt
Money that is typically owed or due
What is debt?
Expending money into shares, properties, or other financial plans with the expectation of achieving profit
What is investing?
Financial wealth and assets that can be passed down from one generation to the next
What is generational wealth?
A deposit account that allows money to be saved while earning interest
What is a saving's account?
The average time it takes to pay off medical school debt
What are 8-25 years?
A widely used index fund that distributes money into 500 of the world's largest companies
What is the S&P 500
Pooled investments that distribute your money through a variety of companies
What are Index Funds?
A plan that outlines how an individual or organization will achieve their financial goals over a set period of time
What is a financial budget?
The average Medical School Debt
What is $202,000?
The concept of invested money exponentially growing due to interest
What is compounding?
This company experienced a 2800% return on investment to investors
What is NVIDIA?
Average Physician Salary
What is $252,000
The average Physician Assistant School Debt
What is $112,500?
Units of stock issued by companies to investors
What are shares?
Cash rewards paid out to investors when a stock's value increases
What are dividends?
Average Physician Assistant Salary
What is $120,000?
Ways to mitigate debt (3)
What are application fee waivers, making payments early in residency, and having a steady plan?
Investing $800 per month over 30 years will compound to
What is $1.6 million?
Investing $2000 per month over the course of 30 years will compound to
What is $4.1 million?
This retirement savings plan helps reduce taxable income
What is a 401(k)?