Finance

Most physicians, including me, would fall into the category of type A personalities, always on the go with a constant need to be productive. We cram every minute of the day with productivity and leave little time in our schedule for fun and recreation. Even type A personalities need a break from working to recharge their personal batteries. How often have you been packing for a vacation and included work ...

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If you stay in medicine long enough, you will encounter physicians who seem to care more about the paycheck than the patient in front of them: think Dr. Farid Fata.  You may find those colleagues revolting; I know I did.  I despised these physicians and felt nauseated even to be in the same room as them.  But as time went on, I realized that almost nobody starts a career ...

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As a physician who is planning an early retirement, and is writing about the topic often, I find that retirement is frequently on my mind. It’s not difficult to articulate my desire for an early retirement. I crave the freedom and time with my family. I look forward to restful nights free from the threat of the loathsome pager. Another round of MOC is not for me, and I’m ready ...

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What is your dream job? It’s the one you would do every day even if no one paid you. When you find it, you never really go to work each day, you go and play. If that is the kind of joy received from working, then burnout will likely be a long way out of reach. Are there any jobs like that out there for doctors? Yes, there are. But ...

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I would like to discuss how I achieved financial independence at age 39, and how it allows me the freedom to practice medicine in a way that keeps me happy. Financial independence is defined as having enough money saved and invested in a way that would allow you to quit gainful employment and continue your present standard of living. The math, based on a 4 percent withdrawal rate, requires you to have ...

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If it’s time to establish your first practice or change to a new one, don’t make the mistake of thinking it’s no big deal where you go. The decision you’re about to make will positively or negatively impact the rest of your life. If you don’t choose right, the correction can be very expensive and take a high emotional toll. The cost attributed to one of my friend’s moves to ...

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Evidence-based medicine is at the heart of what we physicians do. It is the basis for professional decision-making, and a focus of most journal articles we read. Using solid evidence to practice good medicine has been a foundation of clinical practice for decades. There are consequences for failing to follow evidence-based guidelines. If patient harm results from straying from a more loosely defined “standard of care,” which tends to be evidence-based, ...

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In the ten years since I graduated from residency, I have noticed an interesting correlation between burnout and finances among my physician colleagues: The more secure we are financially, the more we enjoy our work. However, physicians working long clinic hours and moonlighting 15 times a month as a hospitalist in order to make alimony payments, boat payments, mortgage payments, or all ...

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Although the time of year when everyone has their list of tax questions has just passed, tax questions are appropriate all year. It’s best to be prepared at tax preparation time, so much less stress is created. Tax time can be especially stressful for younger taxpayers who are going through life changes, or earning substantially higher income for the first time. Young physician families are an excellent example of this type ...

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