Category Archives: Finance

Considering locum tenens? Think about these factors first.

15 Shares Share Tweet Share Locum tenens is a great way to make a living or earn some extra income. But frankly, there are some groups of physicians who should not even consider doing locums work. When you pair the right person with the right job, you can get employment bliss. But when the wrong … Continue reading

Physicians, do you suffer from “Someday Syndrome”?

18 Shares Share Tweet Share “Someday Syndrome” is prevalent in many walks of life, but it is particularly bad in medicine.  You know what I am talking about.  “Someday, when I have graduated medical school …” or perhaps the more common phrase is, “Someday, when I am an attending …” Phrases that start with this sort of … Continue reading

Fads in medicine and in personal finance

14 Shares Share Tweet Share If my medical training taught me one thing, it was how to recognize the destructive nature of fads. They pervade our health care system. Most center around medicine, vitamins, and herbals. Though there also is no shortage of treatments and procedures that become popular very quickly and flame out over … Continue reading

These are the best investments physicians can make

36 Shares Share Tweet Share Much of the personal finance blogosphere directed at physicians spend time discussing spending money. And for good reason.  Physicians have a spending problem.  While I am all about educating people about their personal finance shortcomings, it is also important to find balance in life.  Some things in life are worth the … Continue reading

The pros and cons of being a part-time physician

26 Shares Share Tweet Share “Burnout” has been a buzzword circulating in the medical community quite a bit lately. The World Health Organization has just recognized the term as an official medical diagnosis as part of ICD-11. One moment you’re graduating medical school, full of hope and excitement for residency. The next moment, you’re overly … Continue reading

How our relationship with money can help or hinder physician burnout

17 Shares Share Tweet Share In one of the recent physician burnout and depression surveys, doctors were asked to name the causes of their burnout.  The typical culprits were listed: lack of autonomy, EMRs, lack of support from administrators, insurance companies, lack of time with patients, and so on.  However, when they were asked what would … Continue reading

5 mistakes new physicians make when investing in real estate

30 Shares Share Tweet Share We seem to get a ton of questions on the Passive Income Docs Facebook group about how to start investing in real estate. It can initially be a very intimidating venture. I remember when I started with a $5,000 investment in a crowdfunded deal. It was downright scary. I’ll be honest, I didn’t have … Continue reading

The physician part-time blues

16 Shares Share Tweet Share The solution to most of my work related problems was half retirement. By leaving clinical practice and taking a less arduous administrative role, I was able to divorce myself from the worst part of doctoring. Being financially independent helped, but wouldn’t have been the complete solution. I am not ready to … Continue reading

Thinking about changing jobs? Here’s what physicians should consider.

66 Shares Share Tweet Share 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 hard throughout their entire training only to realize that their expectations do not … Continue reading

8 incredible side effects of being debt free

40 Shares Share Tweet Share Most Americans live their lives on borrowed money, constantly spending a little more than they make, leaving them with a growing debt. These debt payments, and the added interest they must pay on their debt, decreases the amount of money that they have available to spend on future needs. Paradoxically, … Continue reading