Medicine trains you for a decade and never once teaches you what to do with the money at the end of it. There is no class on how much you will earn, how to spend it, or where it actually makes a difference. So most physicians end up at one of two extremes, either driving a new BMW off the lot in first year or still carrying a broken phone ten years into practice.
This episode covers the five categories where I have found spending actually pays off: health and wellness, buying back your time, technology and anything that reduces friction, one purchase that makes no rational sense but means everything to you, and charity. It is aimed at residents, new attendings, and anyone about to start earning a physician income for the first time.
0:00 Why Nobody Teaches Doctors About Money
1:54 The Boring Stuff You Still Have To Do
2:52 Spending On Your Health And Wellness
6:15 Buying Your Time Back
9:59 Technology And Anything That Buys You Ease
12:55 Buy Yourself Something Dumb
17:53 Why Charity Matters
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Personal
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About Me
I am a physician (M.D.) practicing a mix of hospitalist medicine, and urgent care. I learned a lot in my journey to becoming a physician and about more than just medicine. Follow along as I reflect and teach what I wish I knew, which for the most part, is the stuff you don’t learn in school.
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