Gurpreet Dhaliwal|Calvin L. Chou
A Brief Educational Intervention in Personal Finance for Medical Residents
San Francisco VA Medical Center|San Francisco VA Medical Center
although medical educational debt continues escalate residents receive little guidance financial planningto educate interns longterm investment strategiesuniversitybased medicine internship programan unselected cohort interns n 52 84 interns underwent 90minute interactive seminar personal finance focusing retirement savings participants completed preseminar investor literacy test assess baseline financial knowledge afterward interns rated seminar expressed intention make changes longterm retirement accounts 37 interns attended seminar survey administered interns compare actual changes accounts seminar attendees nonattendeesinterns average score investor literacy test 40 equal general population interns strongly agreed seminar valuable average 50 5point likert scale 46 respondents account allocation survey interns already attended seminar n 25 likely interns yet attended n 21 switched investments low highyield accounts university hospital 64 vs 19 p 0003 enroll county hospital retirement plan 64 vs 33 p 007one 90minute seminar personal finances leads significant changes allocation taxdeferred retirement savings calculate changes lead substantial longterm financial benefits suggest programs consider automatically enrolling trainees higher yield retirement plans