Financial Management

Financial issues face residents at all stages of their residency training. Many of you may start residency with considerable student debt. You may also face additional financial pressures, like paying off a mortgage or supporting dependents. Like others, you are probably uncertain if you should pay down debt first, invest in a Registered Retirement Savings Plan (RRSP), Tax Free Savings Account (TFSA), or do both.

In your final year of residency, you may also need to start contract negotiations and consider whether or not to incorporate your practice.

These topics are also covered in more detail in the Transition Into Practice seminar series. Visit the Events page to find out more.

Transition Into Practice Events

Contract Navigation

You may be involved in contract negotiations if you are looking to secure a position or locum in an institutional or academic setting, or with a private practice. You may also be involved in negotiations over operating room time, remuneration, and research time and resources.

Knowledge of some of the principles of negotiation will place you in a stronger position as you transition into practice.

The Transition Tuesday seminar series offers sessions on contract negotiations, locum contracts and other contract-related topics.  Please refer to our Events page for the schedule.


There are advantages and disadvantages of incorporating, depending on the stage of your career and the type of practice that you have.

Check out our Events page for incorporation-related seminars.


Financial Wellness

Part of achieving financial wellness involves putting together a team of financial advisors. This team may include an accountant, financial planner and insurance broker. These professionals, in conjunction with the seminars scheduled on our Events page, will provide you with advice on addressing debt, loan consolidation, RRSP, insurance requirements, tax and accounting issues.