I remember reading a post recently on a Facebook physician group that involved a cardiologist who asked for help on how to manage her finances after a divorce.
The pertinent aspects of this situation involves the physician being left with essentially nothing in retirement savings. She is mid-career with children and wants an option to reduce her schedule eventually to spend time with her children during the weeks she has custody. …
It’s good to have options, isn’t it?
So why isn’t there an option when it comes to taking your boards? In other words, can’t residents have a say with which board to become certified with once they’re done with their residency?
Well, there’s good news for you. The answer is yes. You definitely have options. There are other boards for your initial written exams. (And that also includes the oral exams for …
A practicing anesthesiologist for the past 14 years, when COVID hit, and the ORs came to an abrupt halt, I needed to occupy my mind. An opportunity to learn about the business behind running a practice came to me via a good friend who is a founding member of an award-winning Fintech on a mission to make a change in the credit card processing industry. I was stunned to learn …
It took me 47 years to hear those two devastating words, “You’re fired.”
It’s not like I didn’t have a slew of jobs before becoming a physician. I cut lawns and raked leaves as an early teen; I worked in a fast-food restaurant when I was 14 using my older brother’s ID, I worked in a carwash one summer, I even worked for a national department store. I was always polite, …
Populous cities are populous, well, because people want to live there. Whether the appeal comes from greater career opportunities or simply being closer to family, these places have continuously grown over the last few decades.
The growth is seemingly self-sustaining — certain industries and businesses exist because there is a population that desires these services. In return, these businesses require workers, so they attract people to the region. Add nice weather …
Forums and Facebook groups abound with a frequently asked question that sounds something like this: “Should we sell our positive cash flow rental to buy (insert fun new toy), so we don’t have to attain a loan?”
When someone wants to buy a new car, boat or motorhome — but they have learned that buying toys with borrowed money is a bad idea — they start thinking about how they can …
As a physician working in acute care medicine, one of the biggest delights of my job is regularly still having patients from the Greatest Generation. In the United Kingdom, I really enjoyed sitting with them and hearing their stories of mandatory city evacuations during World War 2, rationing, the Blitz, and the huge struggle to rebuild a devastated country after 1945. Visiting my grandparents in India when I was a …
We have been discussing the importance of women’s health for decades without significant advancement for the issues at hand.
I propose a new perspective on the topic that focuses on the financial health of a business. As physicians, we do not even consider the full extent to which women’s health can impact our own business. The two aspects of business to be considered in this situation involve evaluating the cost of …
Doctors make bad entrepreneurs. I know I told you they make great entrepreneurs. But there are always exceptions. There are a couple of reasons why:
Perfection stagnation
Our GPAs had …
As someone who graduated from medical school with six-figure student loan debt, I’ve looked into several different loan forgiveness programs that will help repay what I owe. One of the most popular loan forgiveness programs is Public Service Loan Forgiveness (PSLF). Through PSLF doctors can get hundreds of thousands of dollars in student loans forgiven, tax-free. Although this seems great, when I attempted to …
As a business owner, you have one primary role: Make money.
I hate to put it in such callous terms, but that’s the primary aim of any business. You have to make a profit first if you want to do anything else. Making a profit isn’t the most important thing. Your passion, your service, and your desire to help others should be the main motivation behind the business.
Money can not be …
The best part of my job is interviewing residents and watching as gears begin to turn in their minds when I ask:
Do you know how much your time is worth? Those of us who are 1099ers can easily tell you our hourly wage. Now, what about everyone else?
Well, there’s a quick trick. Take your yearly salary and divide it by 2,000. So if you make a salary of $200,000 per year, you are making roughly $100 per hour.
Now there are a few assumptions. To start off with, there are actually 2080 …
ADVERTISEMENT
My Danskos literally disintegrated last month.
I was in the hospital team room, finishing up my patient notes at the end of a busy hospitalist shift. I happened to look down at the floor, and there they were: black chunks on the carpet.
I thought, “Who left such a huge mess under the desk?”
I looked at the bottom of my black Danskos. There was a sizable chunk of the sole missing.
Finally, the …
For the first 12 years as a physician assistant, I thought provider burnout only happened to wusses, those better suited to working in health insurance or doctoring at a summer camp. Sure, I felt overwhelmed at times, but I planned to soldier on in clinical practice, happily serving my patients until retirement.
That was before. Before dreading Sunday nights, feeling heaviness in my gut, a tightness in my neck, and bouts …
You’re finally at the point in your career that you’ve been waiting for! Training has been strenuous, and you have spent many years of your life readying yourself professionally for this moment. It is now time for you to transition from a resident to an attending physician.
At this time, you may be tempted to jump right in and start working. I recommend taking a little time off for yourself first. …
A few short years ago, I started to worry about my family’s financial future while vacationing. During our annual ski trip, I took a nasty fall, landing on my wrist. The pain in my arm made me take notice of just how fragile our financial situation was.
As a self-employed periodontist, I asked myself:
If …
When I was a full-time partner in a large radiology practice, I worked days, nights, evenings, and weekends without control over my schedule. Doing the laundry, I washed days’ worth of my children’s outfits that I never saw them wear. I saw them in PJs in the morning before I left for work, kissed their warm cheeks goodbye, and saw them again at night when I got home after dinnertime …
“We are transitioning.” In July of my intern year, this was the sentence that the CEO of our community hospital used to tell the staff that the hospital was closing its inpatient services. The emotions that traversed my mind were quite vast, to say the least. Anger was undeniably at the top of the list, but mostly directed at myself.
Initially, I thought medical school definitely did not prepare me for this. …
I have been reading alarming tales of doctors who think they can buy their way into the hearts of their spouse and kids on the weekend to make up for not being there during the week. The reality is your kids don’t need your money; they need you to spend time with them. Quality time is needed at work; quantity time is needed at home.
Buying a vacation home to use …
Get free updates delivered free to your inbox.
