Each of us has limited time, resources, knowledge, and experience. As physicians, the majority of our time, along with our resources, has been devoted to our medical education and clinical practice. Real estate syndications can be an attractive investment vehicle for busy professionals who do not have the time or experience to actively manage real estate. As an investor in a syndication, you can put your capital to work for you. ...

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Locum tenens is a great way to make a living or earn some extra income. But frankly, there are some groups of physicians who should not even consider doing locums work. When you pair the right person with the right job, you can get employment bliss. But when the wrong person takes a job, both the employer and the employee are often unhappy. I believe everyone should enjoy the work they ...

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“Someday Syndrome” is prevalent in many walks of life, but it is particularly bad in medicine.  You know what I am talking about.  “Someday, when I have graduated medical school …” or perhaps the more common phrase is, “Someday, when I am an attending …” Phrases that start with this sort of expression imply that today is not good enough.  And I am here to tell you that if ...

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If my medical training taught me one thing, it was how to recognize the destructive nature of fads. They pervade our health care system. Most center around medicine, vitamins, and herbals. Though there also is no shortage of treatments and procedures that become popular very quickly and flame out over decades. Although one would think these spurious “advancements” would be pushed by a fringe agenda, it is actually commonplace for ...

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Much of the personal finance blogosphere directed at physicians spend time discussing spending money. And for good reason.  Physicians have a spending problem.  While I am all about educating people about their personal finance shortcomings, it is also important to find balance in life.  Some things in life are worth the money because they provide happiness despite not building your wealth.  One might even argue that these non-monetary ...

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“Burnout” has been a buzzword circulating in the medical community quite a bit lately. The World Health Organization has just recognized the term as an official medical diagnosis as part of ICD-11. One moment you’re graduating medical school, full of hope and excitement for residency. The next moment, you’re overly stressed and working insane hours every week. Honestly, it isn’t a huge surprise that nearly half of all physicians ...

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Two incomes are better than one, right?  As we all know, the answer isn’t clear cut.  If we have to actively “work” to generate income, we have to balance exchanging time for money.  Nothing comes for free.  When you throw in a tax system to convolute matters, certain households are actually punished for going into the workforce.  There is a delicate balance between each income-earning member and what each profession ...

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In one of the recent physician burnout and depression surveys, doctors were asked to name the causes of their burnout.  The typical culprits were listed: lack of autonomy, EMRs, lack of support from administrators, insurance companies, lack of time with patients, and so on.  However, when they were asked what would improve their burnout, getting paid more was the number 2 cause.  Apparently, I am not the only ...

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We seem to get a ton of questions on the Passive Income Docs Facebook group about how to start investing in real estate. It can initially be a very intimidating venture. I remember when I started with a $5,000 investment in a crowdfunded deal. It was downright scary. I’ll be honest, I didn’t have a great grasp of what I was investing in. However, I knew that ...

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The solution to most of my work related problems was half retirement. By leaving clinical practice and taking a less arduous administrative role, I was able to divorce myself from the worst part of doctoring. Being financially independent helped, but wouldn’t have been the complete solution. I am not ready to retire. I would be remiss, however, if I didn’t also point out the downsides. The part-time blues ...

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