The Physician Philosopher Podcast
Physician Side Gigs with Dr. Peter Kim
My good friend, Peter Kim, from Passive Income MD is a serial entrepreneur, physician in anesthesiology, and a great friend and family man. Sharing my enthusiasm for physician finance strategies that prioritize freedom, Peter is also a bit of a side-gig guru.
Conversations with Peter are always fun, especially when we get to talk about different approaches to financial freedom. Over the years, Peter has conducted extensive trial and error research and fine-tuned the art of the physician side hustle. I can’t wait for you to absorb the knowledge and wisdom he was willing to share with The Physician Philosopher community.
Physician Finance: From feeling trapped to creating freedom
It all started when Peter hit a wall after two years as an attending physician. The arrival fallacy he’d bought into since medical school told him he’d be set for life as an attending. But once it arrived, it didn’t pan out that way. As a result, he was forced to think differently about medicine.
Peter reimagined the way he would spend his time and who he let control what he did with his time. He started talking to physicians who led full, fulfilling lives and figured out that the common denominator was they’d created income outside medicine. When they got to practice medicine because they wanted to and not because they had to, the game changed.
Unlinking your money from your time
For Peter, the key to creating the life he wanted was disconnecting his money from his time. When your time is valued a certain amount (that usually other people dictate), you have to invest large amounts of your time to get a significant return. But if your time is the most precious thing to you, you can only put in so much before you’re tapped out. That’s where passive income and side gigs for physician finance come in.
Remember this: the ability to practice medicine because you want to and not because you have to is one part mindset, and one part financial independence.
- How to identify your ultimate side gig goals and expectations
- Whether it’s worth your time and effort to create another stream of income
- The defining characteristics of hobbies versus jobs
- Exactly where to start as a physician who wants a side hustle
- The importance of building and maintaining community as a physician entrepreneur
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