You Matched! Now What?
Kundai Crites, Match Day
If you are reading this, you or someone are close to probably just matched to a medical residency program. After years of rigorous study and long hours in Medical School, it is now time to embark on the next leg of the journey, residency!
It was 2019. My wife, Kundai, and I gathered in Marian University’s Alumni Hall with her classmates and their families. Kundai was nervous, but excited to find out where she was matched. Typically even-keel, I was an emotional wreck. My employer at the time didn’t have a remote work policy so I knew that there was a strong chance I would need to uproot and find a new job while moving homes in about 3 months to a destination yet unknown. To add to the pressure, we were trying to get pregnant with our first child so I would need to help support the family with a job I didn’t yet have.
The countdown began and our hearts were racing with nervous anticipation. When the announcement was given to open the envelope, Kundai frantically opened the letter. I’ve never seen my wife so excited. She matched to IU and her dreams were being realized! An enormous weight was lifted from my shoulders. Not only was my wife elated, but I knew we could stay in place and I would still have a paycheck. It’s an odd feeling to know that your life is about to change drastically at a very specific moment with the details concealed in a letter you are holding but can’t yet open. We were lucky (aided by my wife’s relentless work ethic and extraordinary talent) to make it this far and were excited about the future. But what now?
Leading up to match day with all the uncertainty involved, it is difficult to put concrete plans in place for what lies beyond. Now that you have some answers, you have a short window to plan for the next 3-4 years of your life. For many, this will be their first full-time job in a new city with new people. We are here to help sort through the details and allow you to focus on preparing for a successful residency and springboard into your medical career. Times of massive change are often the most fruitful time to speak with a financial planner.
Some things to consider:
⦁ What is your new salary and how will you spend/save those dollars?
⦁ Where will you live?
⦁ How will you participate in the new workplace retirement plan?
⦁ Which student loan repayment plan will you use?
⦁ Should you supplement workplace benefits with outside life or disability insurance?
Our financial planners at Aurora Financial Strategies are experienced in helping people live the life of their dreams, free from anxiety and stress about money. Initial consultation is free. To find out more, find us at aurorafinancialstrategies.com or call us at 765-450-7087.
Invest Curiously,
Austin Crites, CFA
Austin Crites is the Chief Investment Officer of Aurora Financial Strategies, a financial advisory firm based out of Kokomo, IN. He can be reached via email at austin@auroramgt.com. Investment Advisory Services are offered through BCGM Wealth Management, LLC, a SEC registered investment adviser. This blog does not constitute advice. This is not an offer to buy or sell securities. Advisor is not licensed in all states. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. BCGM Wealth Management, LLC manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results. Clients may own positions in the securities discussed.
