Welcome NYP Fellows
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Hello NYP fellows! As you slog (or have already slogged) through orientation, we want to give you some additional financial resources to build on the short lecture given by Dr. Sotirios Keros. Your financial education is a lifelong endeavor and a thirty-minute talk certainly does not cover but a small fraction of what you need to know.
We have put together this website, and this page specifically, to get you started. We have listed some resources below that will be especially helpful at this stage of your training. We promise that this stuff is easier to understand than your EMR training was, and probably more helpful.
Dr. Sotirios Keros' Presentation
Student Debt Resources
Visit our Student Debt page to get the basics on federal student loans, loans calculators and sample scenarios. The REPAYE vs PAYE calculator for PSLF is there too.
We have lots of other good tax information (like how to fill out your W-4!) on our tax page. And despite the title, the Taxes for New Interns page is a great primer on taxes in general, with a line-by-line walk-through of only the lines on the 1040 most relevant to residents. Even if you never prepare your own taxes, you really must have a solid understanding of taxes, because it will affect ever future financial decision you make.
How do house staff salaries compare around the country? We've collected 2018-2019 salary data. Compare yours. And help us out if you know others who can supply missing information.
We didn't have time to discuss investing in detail during the orientation lecture, but we have a recommendation on great reads to get you started. Investing is essential for you to become financially independent and not have to work until you die. And here is specific information about the NYPH 403b. Can you find the fees? Look for the "net expense ratio". There is no need to select any investment in this plan with an expense ratio above about 0.15%.
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