Happy Holidays from the Dream Bigger Financial team!

Wags and kisses to you and your family!

May your holidays be filled with belly rubs, big dreams, and lots of treats.

Let’s keep dreaming bigger in the new year!

☁️

I "hate" the Backdoor Roth IRA…

not really, but many over-prioritize it.

Consider these alternatives:

Max Out Your 401(k)
Contribute to a 457 Plan
Traditional-to-Roth IRA Conversions
Contribute to an HSA
Repay High-Interest Debt
Invest in a Taxable Brokerage

It’s just one piece of the puzzle!

📧 Dream Bigger: Physician Edition Newsletter

Next Edition Drops: Thursday, December 5 @ 7:07 AM CT

This Week’s Topic: Y'all, I Went to Texas! How Dream Bigger Financial Is the DPC of Financial Planning

👇 Subscribe today!
dreambiggerfinancial.com/newsletter

Just finished a 17-hour drive home after supporting my friend in opening his Direct Primary Care (DPC) practice.

After residency, he chose to remove insurance from healthcare and start his own practice.

I’m proud of what he and his partner have built and excited to see where their journey goes!

Trying to Understand Which Income-Driven Repayment (IDR) Plan You Qualify For?

🎓Student Loans: IDR Plans

IDR plans can significantly lower your monthly payments by basing them on your income and family size, unlike the Standard 10-Year Plan, which uses your loan balance and interest rate.

☁️ Lower Income = Lower Payment
☁️ Larger Family Size = Lower Payment

🧵How to calculate

🎓Student Loans: IDR Monthly Payment Comparisons

When SAVE ends, your monthly payment is likely to increase significantly.

Here’s a visual comparison of how your monthly payments might look:

Example:
☁️ Student Loan Balance: $230,000
☁️ Interest Rate: 6%
☁️ Standard 10-Year Repayment: $2,553/month

🧵

🎓Student Loans: Let’s Make Sense of This Shitshow

Good news! We’ve recently learned that #PAYE and #ICR will be available again starting mid-December.

#SAVE will likely be discontinued.

With ICR, high-earning professionals will have a #PSLF eligible plan they can enroll in.

Let’s learn more:
🧵

🎓 Student Loans: Income-Contingent Repayment (ICR)

If you’re stuck on SAVE and your income is too high, you may no longer qualify for a Partial Financial Hardship.

This disqualifies you from enrolling in IBR or PAYE.

ICR may be your only #IDR option for credit toward #PSLF.

Estimated payment: