First of all, congratulations on your upcoming graduation from residency! All of your hard work is about to pay off. As you make the transition out of residency and into your attending position, keep these tips in mind.

• Are there any benefits from your current employer that you can keep as you move on? For example, can you take your disability insurance with you? If so, it is important to compare your options. Disability insurance will be cheaper to buy as a resident compared to when you are an attending. Keep in mind, if you have filed a disability claim during your time as a resident, it is even more important that you look into whether that policy is portable. If you choose not to bring it with you, or you are unable to, expect a much higher cost. To request information about disability insurance, please click here.
• If you have a retirement plan with your current employer, read the fine print. Sometimes, when you leave a position, your retirement plan will leave along with you. Some companies decide this based on the amount in the retirement plan, while others create restrictions based on the amount of time you have been with the institution. Make sure you know what to expect.
• Even if you have already signed a contract for your new job, consult an expert to get a legal opinion. You don’t want any surprises in your new job.
• Most importantly, don’t rush into anything. All too often, we see new attendings jump into buying a home, paying down student loans, etc. These are important, feasible, necessary goals, but you also want to allow for some flexibility in your life. Live in your new town for a while to get an idea of exactly which neighborhood you want to live in. Make sure you like the area before you make such a big commitment. You don’t want to back yourself into a corner. As one of our clients so nicely put it, “It is better to have a net worth of $0 with $400,000 in loans and $400,000 in cash than a net worth of $0 and $0 in loans with $0 in the bank.”