The biggest financial weakness of physicians

The most common hurdle that doctors have is overspending. The notion that good income guarantees great buying power not only delays building financial worth but also confines doctors to lengthier careers than needed.  The solution, in a nutshell, is to make sure that we make prudent financial and career choices to complement our financial velocity. Easy, right?

The reality is not so simple.  Psychology is fascinating. Human behavior can function, at times, stochastically, yet can be very much predictable.  Most people entering the field of medicine know that they ought to end up with relatively high incomes.  Does a potentially high income actually harm our financial choices?  Is the promise of high income a financial Achilles heel for doctors?  If we can tackle this belief, we’d be able to secure a smoother path to financial success. Let’s look at two scenarios.

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