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Co-Founder/CEO @Pattern: Simplifying Disability Insurance and Personal Finance for Busy Doctors ?? | Investor | Christ-follower | Husband & Dad of 4

Doctors, am I crazy to say you should live like a resident for your first few years as an attending? Is delaying the big house and fancy car worth it if it means crushing debt and building wealth faster? What do you think—smart strategy or too extreme? #PhysicianFinance #FinancialFreedom #LiveLikeAResident #WealthBuilding #DoctorsMoney

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Dustin Karas

Co-Founder/CEO @Pattern: Simplifying Disability Insurance and Personal Finance for Busy Doctors ?? | Investor | Christ-follower | Husband & Dad of 4

1 周

Would love to hear your thoughts—am I onto something, or is this idea too radical??

All valid points, however not a single mention of how there has been a bullseye on doctors reimbursement for insurance. Today the private practice is a terrible business model. A well run practice is 50% of your overhead. Surgical reimbursements have been cut to the point it’s not worth the risk. All that time you speak of the achieve the title and not get fare compensation, and there is no one fighting for fareness. The $2 million house and and lavish life are no longer achievable by most. As was stated a doctors earning potential doesn’t start until they are around 30. For all these reasons and many more I can discuss including the incredible debt that comes with just going into medicine, ie college and medical school, there will be a shortage imo. Sorry for the rant lol.

Dale Hershman "The Sick Economist" ????????

Financial Advice for Biotech and Dividend Investors

1 周

One thing you commonly hear for doctors is that they suffered for so long that they "deserve" X, Y, Z. Well fine. But when they wind up with the $2 million mortgage and $3,000 a month in car payments, they're really only screwing themselves.. did they "deserve" to get screwed? Because they're typically the ones doing the screwing to themselves.

Shaaista Cassim

MBChB cum laude (Pret) | MMED cum laude (UFS)| Cardiothoracic Surgery Registrar

1 周

Live like a resident after being a resident ? I assume you mean people with debt to settle their debt first

Waseem Ghannam ??

MD MBA MHSA | Co-Founder and CEO of After Hours Urgent Care

1 周

Agree Avoid the golden handcuffs at all costs

Ernst Snyman

Family practitioner at Smith Clinic and St Mary hospital

1 周

I am very much for young qualifying doctors to do a 3 year GP stint in a rural setting , before full registration can be achieved , then being seen as a family practitioner. FP to be recognized as a speciality with remuneration reflecting the same

Richard Goodjoin, MD

Internal Medicine Physician at Gwinnett Clinic

1 周

I did that and have never had any debt other than my home mortgage for my entire career

Jim Sobeski

Hand Surgeon at Carle Foundation Hospital

6 天前

Absolutely. One of my mentors told me to wait a few years before you buy your dream house or dream car. I waited 8 years for the dream house and 10 years for the dream car. In the mean time, I paid off all of my student loans.

Stephen M. Cohen, MD, MBA

Section Chief, General Surgery @ Veteran Administration | MD, MBA

1 周

Smartest strategy, but hard for most. We all think the same....."I worked hard, I deserve it!" I agree.....you did work hard.....but delayed gratification and getting out of debt is liberating.

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