We all have either experienced the fears of starting our first job or will eventually do so at some point in our careers.  It only happens once for everyone.  Those of us who are in the market for a job change will end up reliving some of the challenges in job hunting; hopefully, we all have learned from our past mistakes. As I am advising upcoming graduates during their job ...

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Most doctors well into their tenure of medical already have a general idea about how other specialists spend their days (except for radiation oncologists, where no one else knows what they do).  However, as a medical student, I had incredibly limited insight into the variety of means to practice medicine. Even as an attending physician, I am still discovering how creative some medical specialties allow one to be.  For instance, ...

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In an ideal world, we should all be compensated fairly for our services and skills.  The reality, as we all experience, is an amalgam of mistakes and victories.  One hopes that with time our skills will translate to a greater number of victories.  Most greenhorns entering the workforce are unfortunately poorly equipped to assess their worth.  I certainly was. Greenhorn doctors stand to lose a financial lot from mistakes simply because ...

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It’s easy to judge when you don’t experience the same difficulties that others do. The classic scenario in medicine is an internist, who runs marathons and bikes to work, tells his morbidly obese patient to lose weight.  How would the scenario work if the doctor were mildly overweight, or has a body mass index of 30.5? The same judgment is frequently seen in the online financial blogosphere.  Why does a doctor ...

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A retirement plan isn’t usually a top priority for fresh doctors looking for their first jobs, whether that final date is in five years or thirty. Perhaps knowing when to hang up your hat is immaterial so early in your career since most doctors will end up leaving their first job within the first five years anyway.  However, I do wish that I had some inkling about the career paths ...

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Asset protection is a term that gets tossed around quite a bit when we discuss how long and difficult the journey is for doctors to establish their careers.  You always want to protect what you’ve worked hard for, right? The principles for asset protection apply not only to doctors but essentially anyone who wishes to have some sort of security for their assets. The key is to make sure you don’t over ...

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We’ve all heard about credit card points and miles by now—put enough of your expenses on plastic and you’ll be flying first class airlines all the time, right? We are actually fortunate in American (sorry for those of you residing in, let’s say Japan, who still are stuck in a mostly cash-based society) to be able to have incredible amount of credit card options to squeeze out every penny. While the ...

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The general consensus among physicians who have a solid grasp on their finances is that they are realistic about their earnings and expenses. Ins and outs. Just like in nephrology, except a net positive in your finances is considered a win.  One would expect that doctors ought to be generally conservative in their expenditures, since medicine is a generally conservative profession. But life is unpredictable, and that’s why there are ...

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Disability can be a devastating outcome to a doctor’s career and self-image. Think about it: You busted your butt to learn how to do a Whipple procedure, end up getting into a skiing accident that ends your career right there. No worries, because you purchased the appropriate coverage of own-occupation disability insurance, right? Having disability insurance certainly provides a protective cushion, especially you are the sole breadwinner. This is a no-brainer, ...

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It’s human nature to be social.  The collective sensation of being in a group or organization helps us belong. We see this in school, where kids band together for activities. We see this in the doctor’s lounge, where the anesthesia guys chat about the latest hospital gossip. Occasionally we see the loners who shed the collective mentality and shine through their own path. If these novel beliefs are compelling enough ...

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