By Douglas Char, MD, FACEP; Patrick Olivieri, MD, FACEP; and Dennis Hughes, MD, FACEP
“Financial freedom is available to those who learn about it and work for it.”
- Robert Kiyosaki
Whenever I bring up the subject of financial planning with colleagues and trainees, I often hear the following: “They never taught us about this in medical school or residency;” “I don’t have time to learn about personal finances. It’s too complicated;” “I’m worried that it’s already too late.” Yet most would agree that well-managed personal finances are a critical part of physician well-being.
It’s never too early or too late to give yourself the gift of financial planning. Whether you are starting out and loaded down with loans, nervous about college tuition for you kids, or realizing that retirement isn’t so far off after all, pledge to make time soon to find someone who can help answer your questions and provide needed advice. If you’ve already got a plan, now is a great time to review it and make adjustments.
We want to help get you going by providing a few links to some well-known blogs and websites. Financial planning is not fast or easy but it’s clearly something that emergency physicians can master. You owe it to yourself and your family.
The beginning is a good place to start: how much money will you need? (don’t panic!!)
• Moses received the 10 commandments. Check out this link for physician investors from one of the most widely read advisors (he has a whole series worth your time)
• No longer a spring chicken? Worried that retirement is just around the corner?
• Afraid that you are starting too late and never be able to retire? Don’t fret.