Value of advice: “I’m getting divorced. Will I have enough for retirement?”
Learn how you can get back on track financially after a divorce derails your retirement plan. Discover the value of financial advice.
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MD Articles
With a focus on personal finance for physicians, our articles offer unique insights about topics that matter to you.
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Value of advice: “We’re new doctors — help us get out of debt!”
With a financial plan, young physicians have a roadmap for their money and how to repay loans early in their medical careers. Learn the value of advice.
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The pension income tax credit: One benefit of opening a RRIF early
With some smart tax planning, you can take advantage of the pension income tax credit to reduce your household tax bill. Learn how.
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Make extra money during residency with medical moonlighting
Resident physicians can earn extra income by medical moonlighting — providing extra clinical services outside of their residency training program. Learn more.
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How to manage the finances when your spouse is a physician
Managing money in a family can be intense when your spouse is a doctor or doctor-in-training. Here are some tips for successfully managing your household finances.
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Visa options: Are you a Canadian going to the United States for a fellowship?
A Canadian planning to do a medical fellowship in the United States will need to get a U.S. visa. Here’s an overview of the visas you might be offered.
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How does medical practice incorporation work?
Wondering if you should incorporate your medical practice? Here’s everything you need to know about incorporating in Canada.
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Beneficiary designation and how it can benefit your estate plan
Designating a beneficiary for your registered account or insurance policy can provide important benefits. Here are the points to consider for estate planning.
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How finances are different when your spouse is a physician
When your household includes a physician, your finances usually look a bit different from other Canadians. Plan together to achieve your financial goals faster.
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Tears and tenacity: a mom in med school
I didn’t seriously consider going to med school until after I had my first child. And then, I found out that I was accepted. My life was about to drastically change.
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How much do doctors make in Canada?
Curious about what a doctor’s annual salary is in Canada? This article lists the average yearly compensation for physicians across 17 different specialties.
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When should I take my CPP retirement benefits?
The amount of CPP you get is based on your contributions and the age at which you start taking these benefits. Here are some options to consider.
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Should I incorporate my medical practice?
Every self-employed physician should ask themselves these questions to help decide whether to incorporate their medical practice. Get started.
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Tax deductions: What self-employed physicians can claim
If you’re a self-employed doctor, there are many expenses that you can claim and deduct on your tax return. Learn more.
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How do I start saving money?
Here are 4 common barriers that prevent resident physician households from saving money — and an easy way for you to overcome each one.
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Moving for med school or residency? Here’s what you can deduct
If you are relocating this year, whether for medical school or residency, keep in mind that you can deduct a number of moving expenses on your tax return.
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Our physician household owes taxes — now what?
It’s not uncommon for physicians to receive a large tax hit early in their practice. Here’s why it can happen and how to avoid getting caught off guard at tax time.
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How to withdraw funds tax-efficiently in retirement
The best order for withdrawing funds in retirement starts with your goals and circumstances. Learn some strategies to get the most out of your withdrawals.
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CEBA: Physicians’ questions about the loan
The CEBA is an interest-free loan that can be accessed by eligible businesses that are facing financial hardship due to the COVID-19 pandemic. Learn more.
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Buying a home during residency
Do residents get special mortgage rates? Is buying a home during residency a good idea? Get the answers to these questions and more.
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