Smart strategies for physicians drowning in debt.
Dr. Anya Sharma, a dedicated physician and small practice owner, felt overwhelmed by her $280,000 student loan debt. Despite a comfortable $350,000 AGI and diligent savings efforts, the high interest rates and substantial monthly payments were hindering her ability to invest in her practice and plan for the future. She worried about the debt impacting her long-term goals.
Using Golden Door Asset's Loan Interest Calculator, Anya explored various refinancing scenarios. We found that refinancing her loans at a lower interest rate of 4.5% (from her original 7%) and adjusting the repayment term from 10 years to 7 years, saving her over $45,000 in interest and freeing up additional cash flow to reinvest in her medical practice.
We integrated the Loan Interest Calculator with Anya's existing financial plan, allowing for real-time updates and scenario analysis. We then utilized the Student Loan Calculator to compare existing vs proposed payment amounts.
$45,000 in interest savings and increased cash flow for practice investment.
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