Physicians-in-training make a pittance when one looks at the hourly rate,  Especially when I was residency, in the early 2000’s.  I often worked upwards of 100 hrs per week and made $30,000 per year.  The first year, called internship, is replete with long hours and crushing responsibilities.  Opportunities to make an extra buck are all but impossible.  In the second and third years, however, there is much more elective time.  During these ...

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Every day, we’re presented with choices. Some are larger than others, and though some make little difference in the grand scheme of things, some choices can be life-altering. In life and in business, when we have a big decision to make, it’s all too easy to err on the side of caution–sometimes to our personal or financial detriment. It’s human nature. But what is it that keeps us from making tough ...

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The sister of one of my best friends went off the deep end in college.  We will call her Trinity. She got caught up in the wrong crowd, made some bad decisions, and ended up dropping out of college.  The direction that Trinity ended up going was really distressing to her parents.  The crazy part?  They blamed it on the college that she attended. This was completely ironic, because she originally ...

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The savings rate in America is abysmal. As a result, many Americans rely on Social Security and pensions to fund their retirement. However, physicians would not be able to maintain their lifestyle on Social Security payments alone. And few physicians receive pensions from their employers. Therefore, they have to fund the majority of their retirement through savings. But how do you define savings rate? Let me count the ways. Do you use gross ...

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I frequently get asked how I balance my schedule as a physician who is also involved in lots of different things outside of clinical medicine. As any reader of my blog knows, I like to stay busy! As well as my work as a frontline physician (which I absolutely love and have no intention of ever leaving)- - doing a mixture of inpatient and outpatient work, I also am involved ...

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A frequent topic seen on this site and many other sites, blogs, and forums are the merits of using very low-interest financing for various things. The attraction is obvious. Not only do you not have to have the cash up front, but even if you do, surely you can do better investing than 0%, and if you borrow at 0% and earn at anything better than 0%, then you come ...

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In February 2017, I saw my last patient and left clinical medicine. Most people would say I retired. I have chosen to say I have repurposed. I no longer see patients, but I still work. I am writing the Doctors Guide series of books, keeping up a blog and working with physicians who need help with a financial makeover, usually to eliminate their debt, set themselves up for retirement or ...

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How do I start a side hustle? I have heard this plea so often, It is no wonder there are many how to blog posts trying to answer this exact question.  As helpful as they may be, most of the ideas espoused are both time and energy-consuming.  For instance, starting a blog is great!  But if you want to truly make money, be prepared to put in full-time hours.  Or 
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I’ve interviewed many doctors on my podcast The Doctor’s Life. They share their stories of how they came to medicine and how they developed into the physicians that they are today. There are three common themes in these “origin stories”: The first is that many of the doctors were mentored by a physician who inspired them to pursue medicine. The second is that they were “called” ...

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Every physician, especially those who work in oncology, have read their fair share of clinical trials. In order to advance the field of medicine, you need to test new drugs against the current best treatment, or the standard of care. Some trials succeed, and we make progress in our fight against cancer, or hypertension, or HIV. Some trials fail, and these new treatments are discarded. When designing a clinical trial, you need to ...

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