The term “financial advisor” feels inherently safe. It connotes a sense of knowledge and experience in finance, enough to advise other people about it. After 4 years of college, 4 years of medical school, and who knows how many years of residency/fellowship, the last thing most doctors want to do is to learn all this “finance stuff”. Most doctors don’t seem to understand just how important (and potentially costly) it is to not learn about […]
Attending
This is a question I get asked a lot, from both my friends and colleagues. In fact, I ask myself this question a lot as well. The expanded question is: If you could do it over again, would you be a doctor again? This is somewhat of a loaded question because, when asked by another physician, it somewhat infers that they probably would not. I think some of my colleagues are seeking validation of their own […]
Would you do it again?
You’ve made it! You’ve slogged through the internship, residency and maybe even a fellowship to be the top dog. Numero uno. The alpha and omega. You are now an attending. The buck stops with you. All responsibility lies with you. Everyone comes to you for answers. You make all the big decisions. Are you ready? Of course not. Just a few days or weeks ago you were finishing your training, still leaning on your own […]
How to be a Good Attending (Academic Edition)
Umbrella insurance is “non-occupation” liability. Occupation-liability (in our case) would be your malpractice insurance. I didn’t really discuss Umbrella Insurance as a necessity because for most residents and young attendings it isn’t really necessary yet as it falls into more of the “asset protection” category. Until you have assets to protect (such as a house) then you really don’t need this. However: You want your non-occupation liability insurance to be approximately equal to the assets […]
Umbrella Insurance
“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” Who said that? I have no idea. People attribute it to Albert Einstein, but the truth is he probably didn’t say it either. In fact, people quote Albert Einstein a lot when he didn’t say the majority of those things. It’s simply trying to add more weight to whatever they are saying. “A […]
Compound Interest
I touched upon disability insurance on my intro post of “Why do I need insurance?“ I think disability insurance is actually more important than life insurance from a risk management standpoint. Warning, incoming morbid real talk about death and disability: If you die without life insurance then someone has to pay for your funeral costs, burial or cremation, etc. This varies widely, but for the most part, family members can usually help out with this […]