Ten Financial Mistakes Doctors Make

Physicians go through extensive training to become doctors bringing in a high income. Unfortunately, they have no training in how to manage all that money. Consequently, we make a lot of money mistakes.  I have taught personal finance for the last three decades. It has been both fun and rewarding, especially when someone finally realizes … Read more

Seven Things that Foster Independence in Medicine

Each July new physicians come out of residency and begin their lives as attendings. Many of them will or have already unwittingly set themselves up to lose their independence. All physicians can just as easily set themselves up for independence.  Independence in medicine is not about being in private practice vs being an employee, although … Read more

Four Things I Wish I Knew as a Young Physician

As years go by, we learn many lessons from the school of hard knocks. Although some of these lessons we could have learned from someone who had previously learned the lesson, such as don’t grab an electric fence. If we learn from someone else’s experience, we won’t get the hard knocks that come with learning … Read more

How Much Do Fee-Only Financial Advisors Typically Charge?

(Today’s guest post comes to you from David Rosenstrock, who is a certified financial planner with an MBA and the Founder of Wharton Wealth Planning, LLC.) Most people want to help ensure that the financial advice they receive is unbiased and truly in their best interest. A financial advisor’s compensation structure can make a significant difference … Read more

Don’t Buy a House When You Get a Job

It’s that time of year again. Over 30,000 medical residents are about to finish their training and start their first job. Many of them will make some big financial mistakes during their first year that will haunt them for years to come. I wrote The Doctors Guide to Starting Your Practice Right to help new … Read more