The Physician Philosopher Podcast
TPP #25: 5 Keys to Financial Freedom through Physician Side Gigs
Over the next 7 days we are holding four FREE webinars to help doctors find work-life balance and reduce burnout. The webinar is called Physician Burnout: 3 Essential Concepts to Finding Freedom. Make sure to save your seat before the webinars are full! Click here to save your seat.
There are only two ways to financial independence, my friends. The first is through saving and investing enough that you can someday “withdraw” enough from your nest egg to live your life. This is the slow and steady way to build wealth.
The other way is to create enough non-clinical monthly income that you can sustain your lifestyle without making another dollar in medicine. One powerful way to do this is through creating a physician side gig, which is exactly what we discuss in this episode of The Physician Philosopher podcast!
Today You’ll Learn
- How non-clinical income can be a powerful way to financial freedom.
- How to get started with that online business you’ve been thinking about.
- 5 key takeaways to building the online business of your dreams.
- And more!
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Did you know that you don't have to wait until you've saved up enough money to be financially free from medicine? If you've ever thought about creating an online income to speed up your journey to financial freedom, then this episode is for you. Let's go.
This is The Physician Philosopher Podcast. I'm Dr. Jimmy Turner, an anesthesiologist, personal finance blogger and life coach for doctors. The Physician Philosopher Podcast teaches you how to create the life that you deserve one thought at a time. Start before you're ready. Start by starting. Start now.
Hey, hey, hey everyone. Welcome to episode number 25 of The Physician Philosopher Podcast where we take an uncurated and unapologetic look into physician life. As we jump into the show, I want to make sure you're aware of a great way to get the business coaching you need to start the online business of your dreams. So when this episode drops, the Alpha Coaching Experience is officially on sale for spring enrollment. This only opens up two to three times per year. So this is huge. I don't want you to miss this. In the newest version of ACE, it now includes not only the life and career coaching that helped so many doctors with their burnout and overwhelm to find balance. It now also includes money and business coaching for doctors looking to figure out how to get the online business of their dreams off the ground.
Oh, and we increased the number of one-on-one coaching calls you can get by 150%. You know what our mission at The Physician Philosopher is to help as many doctors as we can get the coaching they need to create the life they deserve. So we didn't increase the price of Alpha Coaching Experience or ACE, despite adding the optional business coaching calls and increasing the number of one-on-one calls that the Alpha clients get. For more information and to see the amazing client testimonial videos from current Alpha clients, other doctors like you, you can visit thephysicianphilosopher.com/alpha. Don't wait. We want to help you create the life we both know that you deserve, but enrollment ends on February 22nd at midnight. So visit thephysicianphilosopher.com/alpha, or click the link in the description of the podcast player you're listening to right now to learn more information about ACE.
All right, everybody today's thought is this, financial freedom can be obtained by saving enough to retire, producing enough monthly income to support your lifestyle or a hybrid approach between the two. I couldn't be more excited to do this show. You might be wondering why, but if you know me, you probably know. If you know, you know, as I say. Because I want all of you to know how powerful nonclinical income can be for your autonomy and freedom in your life, freedom of time, autonomy from medicine to create the life that you deserve. This has really been just an unbelievable thing for me personally. This has been the journey that I've taken, my family has been on. My business The Physician Philosopher has been an integral part of my family's financial freedom.
It's been one of the reasons I've been able to scale back at work because my prior physician side gig is quickly becoming the main gig. I'm becoming an anesthesiologist as a side gig, which is pretty cool. So for some background, Kristin, my wife stopped working as an educator in October of 2020. Starting in July, I'll be working .65 FTE clinically. Now, I wouldn't be surprised if two years from now that the number for my FTE is .5 or even .4 FTE clinically. At the time of this podcast, I'm 35 years old for those of you that don't know that. I've only been out of training for four years. My fifth year starts in July. So how are we able to do this?
Well, we were able to do this through creating nonclinical income through an online business. So those that know that listen on Money Meets Medicine, our infinitely growing popular podcast with Ryan Inman and I, so if you haven't heard us chat on that podcast, you should check it out as we like to make fun of each other while we're teaching people about financial literacy and personal finance for doctors. But if you've read any of my stuff or you've listened to us on that podcast, you know that one way to save for retirement is to save enough, that you have a nest egg that you can then draw down from using a safe withdrawal rate. Usually, that's quoted at 4% based on the Trinity study. I'm not going to get into the weeds on this podcast. It's not really the content.
But to figure that out, the reciprocal is 25X. If you want to have a ballpark idea of how much you'd need to retire at the age of 60 or 65, 25 times your current annual spending will give you a very rough ballpark number. In other words, if you want $100,000 a year to spend in retirement, you need $2.5 million in order to be financially free from medicine. That's one way to do it. The other way to do it, which is quickly becoming popular is to generate enough nonclinical income that you can provide for your lifestyle. So if you spend $100,000 a year and you have $100,000 a year coming in through other nonclinical means, whether that's real estate, an online business, or what have you, you're also financially free from medicine. You don't have to work as a doctor anymore because you have enough money coming in from other sources that it's no longer necessary if you don't want to. Those are the two different ways to really do it.
Now, I'm a big fan of taking a hybrid approach between these two things where my family has continually saved a decent amount of money every year. It used to be a six figure sum of money every year when our savings rate was higher than 30%, it was gosh, 30, 40%. But now I also have this online income coming through and so that has allowed for an additional boon to our financial freedom and allowed us to save less on the other side so that we can back off clinically at work. My family has taken this hybrid approach for that reason. This has produced more financial freedom at four years out from training than I ever could have imagined when we started this journey.
In 2020, The Physician Philosopher made a little more than $350,000 in revenue. This was the first year that my business made more than I do as a base salary as an anesthesiologist. In 2021, I expect that The Physician Philosopher is going across a million dollars in revenue for the first time. If not by then then shortly thereafter. So I don't want you to get too excited when you hear those numbers. I'm mentioning that because I prefer transparency because people aren't financially literate or don't have a huge business acumen, because these are such taboo topics in medicine that nobody will talk about. So I mentioned this because I want you to have an example of what's possible.
That said, don't get too excited. It's not all glitz and glamor. I don't get to take all that business revenue home. There's a business to run. I have amazing Alpha coaches to pay for their one-on-one work with the Alpha clients in Alpha Coaching Experience, video courses to create, social media outreach and marketing, and much more to pay for inside of the business. So I take home a fraction of that personally. That said, the business now produces enough revenue that I'm able to work when I want, how I want, where I want, and while still being able to practice medicine as much or as little as my heart desires. So fortunately, I really enjoy practicing anesthesiology and in particular teaching. So I'll probably always do it, but I'm doing it because I enjoy it, because I like it.
I'm now at the point where I get to practice medicine because I want to and not because I have to due to financial constraints. That is what I want for every doctor out there, to practice medicine because you want to and not because you have to. So if you hear that and you want to be able to say the same, I thought I'd give you five key takeaways that I've learned in the last three years of running an online business, of building a business from the ground up. For the rest of those background numbers, right, I had a business that basically broke even, made maybe $5,000 the first year, then $90,000 the next year, and then 350 in revenue for 2020. So that's my journey. I've spent a lot of time figuring this stuff out and honestly spent a lot of time that I had to learn how to do all this, but I'm hoping I can save some of you the time and speed up your journey to get there sooner than three years.
Here's five key takeaways to building your own nonclinical income streams or business. So number one, life coaching is key. I'm going to tell you that this might be a funny thing to start with because I'm talking about business coaching, and the very first thing I turn around and talk about life coaching. But I just want to share with you the idea of the arrival fallacy. I talked about this. I did an entire episode on it, episode five. But I personally went through this journey of myself, where I built a business that started earning money. That was enough money to really help us in our journey. It turned out that business in and of itself didn't make me happy. I was still just completely miserable. So if you don't do the thought work to figure out why you aren't happy in your current circumstance, at your current job with the way medicine is, with the way things are at home, you are likely to create more work through this nonclinical income stream on top of your current state of burnout and overwhelm by building a nonclinical business.
You're unlikely to find happiness or contentment from the new job that you create in this business and just drive yourself into the ground, basically burning the wick at both ends. If you want to know how I know, it's because I did it, it happened to me. I got burned out. So I tried to build a business so that I could back away from medicine. The reason why is because I had tons of resentment at work and anger about the lack of autonomy that I felt like I had sometimes over my schedule and over other things, like the stories that I was telling myself that maybe weren't even true. But even after earning more than six figures from this business, I was still just miserable.
So the business in and of itself, I mentioned earlier, being able to practice medicine because you want to, just because you get to that point, if you haven't done the thought work on your life and your happiness and contentment and on the ability to find satisfaction in the journey, it won't matter. So it wasn't until I got coaching myself that I figured out what my major sticking point was, which turned out to be an arrival fallacy I've suffered from since college. Every step along the way, and anesthesia is a four year residency, so it was like these four year epochs, right? So four years of high school, then four years of college and four years of med school, four years of residency. So every four years I'd have this big momentous occasion or achievement that I thought was going to make me happy.
Oh, when med school is done, I'm finally going to be a resident. I'm going to have some responsibility. It's going to be so much better. Oh, when I become an attending physician, I'm going to make more money and have more freedom and people are going to respect me more. That's going to make me happy. Oh, when I buy the house, when I get the car. All of us as doctors suffer from an arrival fallacy, this idea that someday we're going to "get there" and be happy because we accomplished X, Y or Z, it's total hogwash. It is for this reason that I will never likely offer business coaching through The Physician Philosopher and the Alpha Coaching Experience that does not also include life coaching alongside of it. That's why the Alpha Coaching Experience is built the way that it is.
It includes weekly life and career coaching calls. In addition to the weekly business and money calls for the docs that are trying to build a business. I think that while business coaching is optional, there are going to be people in the program that don't come to the business coaching calls because they're not trying to build an online business. The life coaching in my opinion is not optional. Doing business coaching without life coaching is a recipe for disaster. I know that because I tried it, I did it. I know a lot of other doctors that do the same thing. We always think that, oh, we'll just change my circumstance. I'll earn more money from the side business and then I'm going to be happy. Not true, my friends. It's just not true.
You can take my word for it and trust me and trust the process. Or you can go and figure out that hard lesson on your own. It's pointless helping someone build a business in order to make them happy if I know that the happiness isn't going to be the end result for them, even when the business is successful. So it was the point where I learned to be happy even in my current circumstance before I went part-time that I was able to let this business do what it had the ability to do so. Not only did I get happier and find more contentment on the journey because I stopped succumbing to this arrival fallacy, but the business also took off. Both of those things happened at the same time, because I was able to enjoy the journey through life coaching. So first key takeaway is to do the tough thought work about your life and career alongside any work you do to create a nonclinical source of income. I think that is so fundamentally important. All right.
Number two, you need to define your why. Okay, so equally important to figuring out the why for your life is to try to figure out the why for your business. What exactly are you trying to accomplish? This has a bit of a double meaning here. When I say, "Hey, what is your why for wanting to create nonclinical income?" You're likely, if you're going to be successful, going to come up with two different sets of reasons. One is going to be completely personal. The reason that you are starting a business, and I'll save you the journey, I'll save you the coaching on this one, the reason is going to be typically two things. One is for income and one is for freedom. A lot of people, even when they're private practice partners or they're employed docs in particular, they have this feeling like they had don't control their life. They don't control their job. They want autonomy back. They want freedom. That is almost always one of the biggest reasons why entrepreneurs who are physicians step into the space. They want freedom.
But anyway, you need to figure out what your why is, your personal why. The other thing is your business' why. So who are you trying to serve and what does your business do? What are you providing to other people? So for example, my goal at The Physician Philosopher is to help as many doctors as we can create the life that they deserve. So it's to help them find personal and financial freedom through education, via podcasts, online courses, books, coaching. That's the business' goal. The personal goal is for the business to generate enough nonclinical income that I can practice medicine because I want to, and not because I have to due to financial constraints, right?
So there are two different goals and those are fundamentally important because it will determine how you shape your business. So if you want freedom, for example, you probably don't want to create another job in your business that straps you down to a schedule that you don't like. Because for example, one of the biggest, most important things for me personally was that I wanted to be able to go to my little boy's T-ball practice and my little girl's gymnastics practice or dance recitals. I didn't want to miss that stuff. That's so important to me that my kids know that I was there for them, that I prioritized them and their extracurricular activities and the things that they enjoy in life. So I need freedom.
Now, if I created a job on the side where I had to work all the time and I was missing those things anyway, well, I'm missing the point, right? I've done that, by the way. Just telling you that the road that I've taken and the journey that I'm on, that you were likely to take too. It's so important to get clear on your why. It took me a long time to figure that out. In this pursuit, I do encourage you to avoid doing what most doctors do when they build a business, which is to create what I affectionately also call a jobby. This is a mixture between a job and a hobby. In other words, they're not very clear on why they're doing it like, "Oh, well, I'm just really passionate about this and I just want to help people."
That's one group of people. Other people are like, "Oh, I want to make tons of money from this. It's a job. I'm going to treat this like a business." Well, if you don't know, you're going to turn it into a jobby, it's a job and a hobby combined, right? Is it a business? Is it a hobby? I'm not really sure. If you don't know the answer to that, it will absolutely turn into a hobby or a jobby. After six months or a year, you're not going to be doing it anymore. The vast majority of people that step into this space, whether it's blogging, podcasting, coaching, online courses, they will try for six or 12 months. It doesn't work out because they haven't done all this thought work and then they quit. That's what happens to most people.
Another reason why coaching is fundamentally important, right? So you just don't know what you don't know. If you haven't gotten your thoughts, what's out there to really define your why for both of your personal efforts and for your business, it's going to fail. So you got to define your why. That's number two.
All right, number three, you got to into the future you. Now, this one might sound like I'm trying to go back to the future on you and get you in the DeLorean and warp you forward so you can see what you did. But not exactly like that. It kind of is in some ways, but when it comes to building a business, the hardest part is getting started. That's probably the thing that clients get coached on the most is how to get started. In fact, a lot of the coaching I do in this space involves people saying something along the lines of like, "Hey Jimmy. Yeah, I wanted to talk about this thing I started a year or two ago. I actually bought the website, the domain name for a blog or a podcast. I even wrote a blog post or two, but it never really got started. I was hoping to dive into that, but I got stuck on the search engine optimization stuff for blog posts."
Now, if you haven't done a lot of coaching, you're going to hear that and be like, "Oh, the person needs help with SEO, search engine stuff. They just want to know how to help people find their work on Google or Bing or Yahoo or whatever, dot, dot, go." So you hear this story and you're like, "Oh, this person just really wants help with their SEO for like dot, dot, go or Google or Bing or Yahoo or whatever search engine they're talking about. They just want people to find help and they got stuck because they didn't know how to proceed with that part of their blog so they stopped." I'm going to tell you right now, after talking to a lot of people in this situation, that is not what's going on, right? We live in the information age. You can literally Google search engine, whatever, anything that you want to know, knowledge or the ability to find the knowledge is almost never the problem. It's not SEO.
It's not that you couldn't come up with a domain name or that you couldn't figure out how to run Gutenberg or WordPress, or you couldn't figure out how to get a site up, or you didn't know how to use the right scheduling software or any other number of excuses that people come up with. That has nothing to do with the problem. It's never knowledge or the ability to find it out. There are so many people you can ask. There's so many search engines you can look for. The problem isn't knowledge. The problem is experience. You don't have the experience to decide the best way to proceed because you've never done it.
So the way that you get around this is to think of the future version of yourself. So for example, the current six figure CEO of my business doesn't really exactly know how to handle a seven figure business because I've never had a seven figure business, but the seven figure CEO of myself does, right? So I know this seems like Back to the Future, like hopping in a time machine and going forward and sorting all that stuff out, but from a future vantage point, but it's really about shaping the perspective in which you're thinking. So what would someone in that future CEO position do? If you tap into that, you'll likely get some answers that you're looking for, right? So if you haven't started a business yet, you don't know how to get started, think about it. If I had a business, it was already present, it already existed. What would I be doing? What would I do in the business? Would I be paying for marketing? Would I hire somebody to help me with virtual assistant work? Would I do X, Y, or Z?
Does the future CEO of your business see yourself, for example, producing two to three blog posts per week every week for a year from now? At that point you've written 150 blog posts. Is that something that you see yourself doing a year from now? Or do you see yourself producing one podcast a week? How will your business be helping people? Will your business be making money from advertisers or sponsors that your readers or listeners need? Or will you make it from selling online courses and coaching to solve problems that your audience has? If you think about it from the future, what do I want to be offering? What does my business look like?
If you tap into that future version of yourself, the future CEO of your business, that person has answers. That is going to fundamentally shape what you do in your business. So for example, number four, this kind of segues into the fourth one. You need to find the sweet spot for the structure of your business. What kind of business are we talking about? After you've tapped into that future CEO mindset, it'll help you figure out what kind of nonclinical income source you're looking to create, right? So what I always tell people is that they need to find the sweet spot between their passions, their propensity, or what they're naturally good at, and the best potential profit. So the three P's, if you will, passions, propensity, profit. If you land in the center of those three Ps, you're much more likely to find success.
So when it comes to business ideas and structures, there are a lot of options out there. How they make money, they all differ. But here's really broad categories, right? So you can use, number one, you're medical knowledge. So this is things like chart reviews or expert witness work doing tele-health, although that's still clinical. Number two would be informational or educational businesses. So things like online courses, writing a book, public speaking. Third one could be continuous content businesses. So things like blogs or podcasts, video channels, Vimeo, YouTube, social media influencers. So you think like, I don't know, in the medical space like ZDoggMD, that's an example.
Service industries, that's another one. That includes things like life coaching, career coaching, business coaching, providing a service to other people. Another example would be real estate. So that'd be a fifth one. That could be passive, things like syndications, crowdfunding or active long-term rental, short-term rentals, things like Airbnbs. The sixth one, which is my flare, is to have a combination of the above methods. So that's the TPP method is to do a variety of things. So I use a blog and a podcast to help find my audience, to help find my people. We then provide free content for people that are needing help. We also provide online courses, coaching, books, free content on the blog. So we provide a variety of ways that we help people while also producing constant content.
The reason for the content is because how do your people know if they like you or not? How do they know if you're their person, you're the person who's going to help them figure out their problem or provide their service or the thing that they're looking for? How can they know that they trust your commendations, right? So if you go on my site on The Physician Philosopher, you're going to notice that I don't recommend very many people. The reason why despite making more money if I did recommend more people is that I want to actually recommend the people to you that I trust, that I know, that I've had relationships with for a pretty long time. They come and speak to my students. So you're not going to find people on my site that I wouldn't actually recommend to you, even if they weren't paying me, if they stopped paying me, I would still probably recommend the same people. The reason why is because they're good.
I started this journey because of conflicted financial information, basically that holds my family. I never want that happening to someone else. So that's just an example. So figuring out which one of these structures is best for you take some thought work based on the pros and cons of each, the profitability and what you're naturally passionate about. When I talk about writing 150 blog posts in a year, for example, earlier, some of you were like, "Oh, I love to write. I miss that from college. I totally want to get back into my liberal arts humanities degree." Right? I was a philosophy major. So I started a blog because I loved to write. Then it turned out that I actually really liked podcasting even more than writing it. So now I focus much more time on podcasting.
Also, what are you naturally good at? Do people like listening to you talk? Do people like reading what you write? Are you really good behind a camera? Finding your natural propensity, the passions that you have for topics and structure. So what's your blog going to be about? What's your podcast going to be about? What's your YouTube channel going to contain? Then looking at the potential profit when you combine those three things in the very structures that I just mentioned, and those are just some examples. There's definitely not an exhaustive list of physician side gigs. But some are certainly going to have more potential for profit than others.
But your goal, your why may not be a huge amount of profit. It might just be, "Hey, I want to earn 50 grand on the side so I can step back and go .9 FTE. So I don't need to have a multi-six figure business." Others of you are listening to this and saying, "Wow, I really want to have a multiple six figure business so that I can practice medicine because I want to and not because I have to or potentially step away completely." I certainly know doctors that have done that. But in order to do any of that, you really have to find the sweet spot for the structure of your business. So that's number four.
Number five, don't be afraid of niches. I'm going to call them niches for the rest of this. I recognize that some people call it niche, but it doesn't rhyme with what I'm about to say so I'm going to call it a niche. Okay. So the last thing I'll mention on the show is that don't be afraid of niches, right? Niches. I just can't do it. I'm going to go back and forth. Sorry. They're interchangeable in my mind. So in fact, there's a saying here, so the riches are in the niches, which is why it's so hard to say niches. There's a reason. When someone lands on your business page, your website, your social media, you want them to have a certain kind of response. So would you rather them say, "Oh, I mean, this looks pretty good. I'd get some pretty good help from this. It seems like they provide some good services."
Or do you want them to say, "Wow, this is like they're reading my mind. This is something that is specifically for me and would help me in my particular situation. These are my people. This is my person that's going to help me do this stuff." Obviously, you want the latter. You want the second one. You want people to know that you not only want to help them, but that they can trust you because you understand their problems. You've walked in their shoes and that you have the skills to help them with a specific problem that they have. So for example, not being afraid to niche down.
Brooke Castillo, who runs the Life Coach School, where every coach the Alpha Coaching Experience gets their training. I love the model that they have there. Brooke's marketing is almost exclusively for women. If you go look at her stuff, 95 to 99% of her marketing material is for women. Despite this, there are men who buy her products. There are men who get their life coaching certification through her coach certification program, including me and three other Alpha coaches. So she's not afraid to niche down and to market to women because she knows that there are going to be some men that come in, but she wants the women that land on her products to really look at them and be like, "Oh, wow, this is for me." Now I look at Brooke's stuff as a male physician and I say it speaks to me. I think the coach certification part is going to be so helpful. It already has been extremely helpful.
But for male physicians that are looking for coaches in the marketing world, there isn't any. So there are something like 200 physicians who are getting coach certification through the Life Coach School who are already certified, I should say, and, or getting certified. 195 of them are women. So when I put out my marketing, it isn't that the Alpha Coaching Experience can't help women. We have women in our program. We've had women in our beta program that was before the first iteration. But the reason why is because there are men out there who want and need help and don't know where to find it. The reason why is because 195 or 98% of the coaches out there who are physicians who help other doctors are women, and most of them exclusively help other women physicians.
So if you're a guy looking for coaching, where do you find it? Well, it turns out that you can find it with the Alpha Coaching Experience. That's one reason why the marketing is slanted towards men. Now, I'm not afraid to niche down because I recognize there are women that are going to come into the program that are going to meet me or meet the coaches and say, "Oh, even though the marketing is for men, this is totally for me. I could totally relate to this. In fact, I want to come into this experience, even though it's not marketing directly towards women." The same thing for me, I went into Brooke's program, got my coaching certification from someone who 95 to 99% of her marketing is towards women because I recognize the value of it.
So don't be afraid to niche down in your business. If you want to niche down super hardcore, like you want to do weight loss coaching for women physicians who are one to five years out of training and who are married and have children. There are people out there who need that, okay? So the more that you niche down, the more specific that you get, the more likely that someone lands on your stuff, they hear your voice, they see you in a video and they say, "Oh man, this is specifically for me." And the more likely they are that you are going to be the person that they want to help them. So I see too many people who don't want to step into this and who are genuinely afraid because they're afraid of failing or of offending other people. It's because they don't own their space. They don't own what they're doing. They don't own their niche.
The most successful people that I know are ones who know exactly who they are and who they serve. So if you're thinking about starting a business of your own, I'd encourage you to own your niche. This extends from online courses and coaching to real estate. Who are your tenants? What is your ideal customer audience? Who are you trying to serve? The more specific you can get on that, whether it's real estate, online courses, blogs, podcast, coaching, chart reviews, or whatever it is, the better off you'll be. So that's the fifth one. So for those of you who want freedom and autonomy from your clinical job, I hope this was helpful for you.
I hope that these five key takeaways, so number one was life coaching is key to help avoid the arrival fallacy that every business owner steps into, it feels like. Number two is to define your why both personally and for the business. Number three is to tap into the future you, the future CEO, because they've got answers. Four was to find the sweet spot between those three Ps, so your passion, your propensity and the profit that has a potential in your business. Then the fifth one is don't be afraid to niche down. So I hope that was helpful for you. While The Physician Philosopher did not solve my arrival fallacy, life coaching did that in fact, it has certainly provided me the freedom and autonomy my family was looking for in order to enjoy that journey and to stop looking for the arrival that was supposed to fix all my problems.
I now really enjoy the journey. I enjoy the life we've built. I enjoy the autonomy and freedom that I have. If you are interested in getting business coaching along with life altering life coaching for doctors, trying to find balance, I encourage you to check out the Alpha Coaching Experience by visiting thephysicianphilosopher.com/alpha. Cool thing, I saved this for those of you that are really interested, stuck till the end, because this has business coaching in it, you can talk to your CPA. Your CPA is like my CPA. Business coaching is a tax write-off for those of you thinking about starting a business. So check out the information there at thephysicianphilosopher.com/alpha and check out the testimonials from other doctors just like you who've gone through the program and how their life changed because of it. So today's thought is this, financial freedom can be obtained through saving enough to retire, producing enough monthly income to support your lifestyle or a hybrid approach between the two. Until next time my friends. Start before you're ready. Start by starting. Start now.
My dad, Dr. Jimmy Turner is a physician first personal finance blogger and a life coach for doctors. However, he is not your physician or your life coach. He also isn't a financial advisor, financial planner or accountant. Anything discussed in this podcast is for general education and entertainment purposes only. Life coaching is not a substitute for therapy, medicine or medical treatment. However, if you're a doctor looking for a life coach, you can reach out to my dad at [email protected]
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People often talk about the hamster wheel of life or, what I call, the achievement treadmill. Why do physicians run on the achievement treadmill even once they have achieved success? What does it mean to be content or to have enough? There is a beautiful place in life where we operate not out of anxiety. On today’s episode we are going to talk about the art of having enough. Hang on, because it might just change your life.
When you find yourself reaching for your phone when you are off the clock to check your email. Or drinking not because you are enjoying that IPA, but because you are avoiding something. Or when you begin to think about all the people that need you to respond to their text within minutes, you might be buffering. Buffering is very common in our culture today, but it isn’t a way to live life that will help us feel like the person, parent, and physician we want to be. Today I am going to talk about something Napoleon taught us years ago that might just help you uncover the real reason you are buffering today.
With 30-40% of physicians being sued on average, this is a topic that needs to be discussed in terms of how we can help doctors mentally and emotionally handle the fear of a lawsuit. If you have ever been in this situation or if you are living in fear that you someday will be, this episode is for you.
Join me today as I walk you through how you can beat the fear of a lawsuit so that this one idea that maybe has happened to you, or the fear that it may happen in the future, not impact how you practice medicine and live life.