On this episode of the Raving Patients Podcast, Len sits down with Mark Johnson founder of StudentLoansRx to discuss financial planning and how working with an experienced, licensed professional may be a great option to consider.
With the average dentist graduating with over $300k in student loans, many graduate with much more, especially residents, student loan repayment planning is the first major financial planning issue dentists will face. But they have other financial planning items as well: starting a family, buying or starting a practice perhaps, buying a home, upgrading transportation from years in school as well as saving and investing. Identifying a student loan repayment strategy that complements your other important financial planning goals is critical and can save thousands in unnecessary interest and anxiety.
Takeaways from this episode include:
Mark Johnson is the founder of StudentLoansRx and a wealth advisor with RBF Wealth Advisors in St. Louis, Missouri. Since founding StudentLoansRX in 2013, Mark has spent thousands of hours educating and helping many emerging dental professionals create plans to address their student loan debt within the context of an overall financial plan. Upon realizing that there are over 7,000 dental school graduates and residents entering the workforce each year, with anywhere from $300k-$700k or more in student loan debt, Mark knew he had to do something to help them. Prior to the Covid-19 outbreak, Mark visited between 10-12 dental schools each year educating students on the various student loan repayment strategies, and has attended a number of ASDA and other regional dental conferences. While his focus is on helping dental professionals, Mark also works with other healthcare professionals graduating with large six-figure student loan balances.
Mark's three decades in the investment and financial planning industry and his in-depth knowledge of the various federal and private student loan repayment programs, allows him to create custom plans for his clients based on their desired career path (associate, public health, practice ownership and residency) and other financial goals, including insurance and investment planning.
Len would love to connect with you.