Author's posts
No doctor should have to side hustle to make a good living
I would have thought that all doctors are on the same page about being overworked and underpaid, but I was surprised to read on a recent physician forum that some doctors claim that our profession overall is compensated adequately. Complacency tends t…
The conundrum of dual physician households
Two incomes are better than one, right? As we all know, the answer isn’t clear cut. If we have to actively “work” to generate income, we have to balance exchanging time for money. Nothing comes for free. When you throw in a tax system to convolute …
Thinking about changing jobs? Here’s what physicians should consider.
A large percentage of doctors end up switching jobs within the first five years of practice. This really isn’t surprising given that the medical training experience doesn’t necessarily correlate with the medical practice experience. Many doctors work …
Why doctors shy away from business
The Hippocratic Oath says nothing about taking out a bank loan to outfit your own office to start your practice, nor does it include investing in real estate to diversify your income. Of course, most doctors didn’t opt to enter medicine with the inten…
Physicians and the risk of a plateauing net worth
Wealth accumulation can follow many trajectories, depending on discipline and external factors like stock market health or economic fluctuations. With a proper financial plan, doctors can stick to a game plan that should allow them to reach financial …
The financial disadvantages of being a doctor in California
Geographical arbitrage is a huge component to being able to build wealth in a timely manner. For doctors, the formula for rapid wealth accumulation calls for geographical arbitrage even more strongly as our salaries do not have wide ranges across the …
Why academic doctors might be less informed about finances
Apart from a minority number of academic physicians, nearly all of the physicians openly discussing finance matters online are either retired or in private practice. The data might be skewed since most practicing physicians don’t work in academia anyw…
Doctors shouldn’t have to find side gigs. Here’s why many do.
Thanks to the internet, collaboration has never been so easy. If you need to learn about how to install a new irrigation system in your lawn, the resources are a few clicks away. You just need the time and motivation to make happen. On the medicine …
It’s important to understand the money trail in medicine
There was a recent news brief stating that the average internist generates about $2.4 million annually for the hospitals that they work for. While it’s no surprise that doctors help others make money, seeing a figure to your worth hammers home how muc…
Physicians: Don’t make these mistakes when looking for your first job
We all have either experienced the fears of starting our first job or will eventually do so at some point in our careers. It only happens once for everyone. Those of us who are in the market for a job change will end up reliving some of the challenge…
