On an occasional Friday I plan on change the mood a little by posting something fun with a financial twist. These post will be lighthearted to focus on activities rather than investing or personal finance. This post I would like to focus on gaming and its ability to bring doctors together with a short mention of the financial implications.
Gaming has come along way since my first regular Nintendo console.… Read the rest
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The popular TV show, Shark Tank, is a Hollywood snapshot of what some entrepreneurs go through in order to get to market. Yes, we all know that there are a lot of made for Hollywood moments. However, behind those dramatized moments are often stories of a struggle to build their dream.
My family is made up of various entrepreneurs. Each one started a company that could be described as a blue-collar industry.… Read the rest
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After seven years, I’ve finally done it. I’m back to having a positive net worth. The last time I had a positive net worth was in the year prior to medical school. I have to say it feels good to climb out of the hole and start to see some light at the end of the tunnel. Here is a synopsis of my past net worth and how I got to where I am today.… Read the rest
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Each week I show up to work focused on my patients and getting my work done. I’ve been at my job over half a year, which apparently is enough time for a large number of people to know what kind of car I drive. I recently had an encounter with a fellow physician and nurse that took me by surprise. They both commented on what kind of car I have and somewhat jokingly asked if I “Know that I am a Doctor.”… Read the rest
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Financial planners, also known as financial advisors, can be helpful for doctors who don’t have the time, energy, or the desire to take control of their financial plan. I decided to meet with a financial advisor when our group offered to pay for a meeting. There can be advantages and disadvantages to using a financial advisor. I felt like an hour meeting could do little harm, so I gave it a shot. … Read the rest
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Graduating medical school, residency, or fellowship is an exciting time as you turn to the next chapter of your career. After all the years of hard work, the paychecks have finally started to roll in. The next problem is deciding what to do with the money from those larger paychecks. I previously wrote about financial changes from going to a resident to an attending.… Read the rest
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Choosing to have a child while in medical school or residency is a difficult decision to make. Entering into the medical profession and raising a kid both take a lot of effort. The average age of a medical student or resident usually ranges from mid 20’s to mid 30’s. This age also coincides with the most popular time to have a baby.… Read the rest
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Student debt for doctors continues to increase year over year, often above inflation (Source: AAMC). Hearing cases where doctors graduate with $400,000 in debt 10 years ago was almost unheard of. Now, it unfortunately seems to be increasingly common with some dual physician couples coming close to a million dollars in student debt. The number may seem overwhelming but if you follow the steps below, its possible to eventually become debt free while still enjoying your career.… Read the rest
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February was a big spending month for me, actually the biggest yet excluding months when I took a vacation. In February I spent $902.17 on items or experiences that can only be classified as wants and not needs. If you think spending $902 on restaurants and going out with friends is out of control I would say that I completely agree.… Read the rest
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I have been tracking my expenses for years with excel files and PDF’s. The benefit of this is it gives me an ability to look back and see where I was able to save, and where I had large expenses. Both medical school and residency were filled with opportunity to spend large sums of money. In this post, I take a look back at some of the largest expenses during medical school and residency.… Read the rest
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