31 Jul 2016

Financial Planning for Early Career Psychologists: From Repaying Student Loans to Successful Retirement

Financial Planning for Early Career Psychologists: From Repaying Student Loans to Successful Retirement

The financial planning process calls for setting personal and professional goals (including paying off debts1), assembling a portfolio of financial resources needed to achieve those goals, and adjusting your portfolio (mainly personal savings and investments) for life-changing events.

The task can be formidable, especially for early career psychologists trying to achieve financial stability and pay down debt at the same time.

This publication of the American Psychological Association and its Committee on Early Career Psychologists provides insight into the financial-planning process for psychologists and information on what financial planning comprises. Readers can learn financial-planning basics and then decide to do their own financial planning or select a financial planner to bring expertise and objectivity to the job.

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