You have just gotten a job offer that includes health insurance.  You’re lucky enough that your spouse has great family insurance already, but hey that health insurance is going to cover the cracks in the deductible and co-insurance, so you feel great about that double coverage as you sign your contract. Well, you just got scammed.  That is, double coverage is a scam, and you would have been far better off ...

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It is no secret that medical school is getting very expensive. Over the past 20 years, the cost of medical school has greatly outpaced the rate of inflation, and medical school debt is rapidly rising. The average medical student now graduates with over $192,000 in student loans, but with the cost of attendance for the most expensive private medical schools approaching $100,000, there are some physicians who ...

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I’ve written previously that financial independence is plan B.  Plan A, of course, is life.  Your work and time are precious, and life is too short to be wading through a morass of unhappiness only to get to some endpoint or goal. While I definitely believe in front-loading the sacrifice, the cost should not have to be misery.  Physicians, in particular, tend to look at their ...

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As part of my job as an anesthesiologist, I get called to truly horrific airway events.  Sometimes they are down in the emergency department after a bad car accident, drowning, or burn.  Others are in ICU’s.  Sometimes they are even in hallways or bathrooms where people have stopped breathing or collapsed from cardiac arrest.  It’s part of the job. Recently, I was called to an airway in an ICU in what ...

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My last operative day was October 15, 2009. My last attempt at getting to understand my group disability policy was on May 10, 2018. I’m a disabled anesthesiologist who lost his career when my left median nerve stopped functioning properly. I had two disability policies, a private and a group. My dealings with these two companies have been day and night. My group insurance carrier hammered my dignity for years. In ...

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No one can predict the future, but when making projections for things like retirement planning, what investment return should you expect? What do we mean by “investment return?” Before we get into the numbers, we need to go through a few definitions. Nominal returns vs. real returns These are just fancy words for before-inflation and after-inflation returns. Real returns (after-inflation) returns are equal to the nominal returns (before-inflation) minus the inflation rate. Real returns ...

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As many of you know, I am a big fan of side hustles.  I see them as a financial independence superpower that not only leads to increased revenue and diversification, but also joy and passion.  I am not, however, unaware of the fact that many feel they are a waste of time.  The case against side hustles is real.  There are many reasons why an individual may decide ...

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One of my best friends recently sent me an article from the Wall Street Journal discussing the generation that is about to enter into retirement.  The article highlighted how this generation will have an unacceptably high proportion of people who are unable to retire.  Following a generation that had guaranteed pensions, this left them with the reassurance that they would someday have one, too.  Left ill-prepared for retirement, this ...

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I got together this past weekend with a few of my medical school classmates and ahhh, the memories. Being in the trenches together, just like in residency, tends to create a bond that remains throughout time. We picked up right where we left off and talked about the good ol’ times, how life used to be, and how it is so different now, especially because we now all had families. That ...

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recent post by the White Coat Investor got me pretty fired up.  Dr. Dahle spoke about three of the main financial enemies that face physicians. The third one that he mentioned had something to do with medical culture.  The gist of it was that talking money in academic medical centers is considered taboo.  While I think WCI is right, it really made me angry.  As an academic attending ...

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