In today’s interview we dive into the finances of a recently graduated (two years out) hospitalist in Northern California. Married with no kids and in a high cost of living area, come take a walk in this doc’s shoes. This is a great example of what this interview series will look like going forward, and I bet there is quite a bit you can learn from this doctor’s example!
Today’s post hopes to answer the following question: As doctors, why do we have a target painted on our back by financial professionals? Let’s talk about five targets that doctors provide. Hopefully, through this discussion, you will be more aware of how and why people aim to steal a part of the pie that is rightly yours.
There are a lot of reasons why doctors make financial mistakes. Many of them – that I am going to spend some time disproving today – were caused by lies, myths, and otherwise untrue statements that are told to us. Today we will dispel four lies about money that are told to physicians, which prevent them from making the right choices.
Our networth exploded this year because we have been living on 20% of our income, which was only possible because we didn’t buy a house. In fact, the more that I think about it, the more I realize that buying a house after residency is likely the number one reason physicians take so long to reach financial independence, if they reach it at all. Today’s post discusses our thought process.