Should Doctors Follow Dave Ramsey’s Debt Advice?

Dave Ramsey's plan works for a lot of people. For a new attending with big student loans, there's one part I'd skip.

In his Baby Step 2, you pay off all debt except the house before you invest. His team says that includes pausing your employer match.

For a physician with $200,000 in student loans, that's not a few months. It can be years.

A lot of matches are some version of 50 cents for every dollar you put in, up to a limit. Once you're vested, that's a 50% return on those dollars right away. No student loan rate comes close.

So keep the intensity on the debt. Keep the match too. I think physicians need both the behavior and the math.

Check your vesting schedule. The match only counts if you stay long enough to keep it.

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