An Interest Rate Review for Physician-Executives

Managerial Accounting

By Dr. David E. Marcinko MBA

Recently, several major banking institutions have addressed the problem of escalating debt upon graduating physicians, mid-life practitioners and even seasoned healthcare providers; despite historically low rates for prime customers.

Unfortunately, one may still wonder how many clinicians truly appreciate the risks associated with usurious interest rates for homes, cars, medical equipment and other consumer items; as we offer the following review to reduce this peril.

WHITE-PAPER: IRs

Assessment: Your thoughts are appreciated.

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Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

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One Response

  1. RESIDUAL INTEREST
    Residual interest-also known as trailing interest-is interest that accrues on a loan balance from the time between the end of a billing cycle and the date the issuer receives payment. If you always pay your bill in full, this probably doesn’t apply to you because of the legally required grace period. But once you carry a balance from month to month, residual interest kicks in.
    Lou

    Liked by 1 person

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