Earned Wealth’s Post

For those of us in medicine, I ask, "How will you make your mark?" Will you leave an academic footprint -- an impact on trainees and colleagues -- as you wind down your career, and how will it be measured? These are questions I've thought about as I near my own retirement. Read my essay in MedPage Today and let me know your thoughts.

When asked who my avatar is when looking for investors, my answer is the female healthcare professional. Why? Because they're experts in the delicate balance of family, career, and personal life. I aim to show them that they can achieve professional success without sacrificing precious time with loved ones. Having experienced the toll of long hours firsthand during my hospital days, I know the regret of missed family moments. My mission now is to guide younger colleagues toward a more balanced approach. They can excel in their careers while still prioritizing self-care and family time. Recently, my hospital division celebrated the graduation our fellows who completed their pediatric emergency medicine fellowships. While they received traditional gifts from the attending physician staff, I wanted to offer something more enduring: a copy of "Why Doctors Don't Get Rich" by Tom Burns. This book explores the path from a physician’s perspective to financial freedom through passive income, like multifamily apartment investing. I hope to plant the seeds of wealth-building for their future. Who represents your target audience, and how do you engage with them? #passiveincome #freedomoftime #financialfreedom

This is Kind of Heartbreaking… ❤️👨🏾⚕️ As we start on a new week, let's touch onto a topic that strikes at the heart of many professionals, particularly those navigating the demanding landscape of the medical field: financial wellness. Recent studies have shed light on a sobering reality: a significant portion of medical residents and fellows find themselves grappling with the challenge of covering their monthly expenses. 🏡🚗👩🏽💼👨👩👦👦💔 This financial strain often extends well beyond residency, casting a shadow over physicians' retirement years as they feel compelled to continue working simply to sustain the lifestyles they've become accustomed to. It's a narrative that echoes through the halls of hospitals and medical institutions worldwide—a tale of #financial burden overshadowing the noble pursuit of healing and care. This is what is heartbreaking… 💔💔💔💔💔 👉🏽You’ve spent years in school… 👉🏽$100k+ on education… 👉🏽80hr+ shifts on the frontlines… 🎯And even after 20-40 years the debt can still be there… Yet, amidst this heavy struggle, there exists a glimmer of hope— an educational shift towards a path of financial empowerment and resilience. As a physician who has traversed these turbulent financial waters firsthand, I stand with you today with a steadfast commitment: to illuminate this path and guide my fellow #medical & #healthcare professionals towards a brighter financial future. From the trenches of student loan debt to the summit of retirement planning, I am here to equip you with the knowledge, strategies, and resources necessary to navigate the complexities of today's economic landscape with confidence and clarity. Together, let us transcend the confines of financial stress and embrace a journey of financial wellness—a journey defined by empowerment, resilience, and abundance. I’m Dr. Butler & I’m on a journey to create the content I wish I had when I left medical school, so if you’re looking for an amazing healthcare speaker to come in and speak to your medical students, healthcare professionals, medical conferences or healthcare event(s) please check out my website for speaking availability listed in my profile 👨🏾⚕️❤️

Do you have your financial loose ends tied-up? Most early-career physicians don't. It's in-part because: med school and residency don't prepare you well for the financial complexities of being a doctor. But we've got your back. Get ahead of the financial game now. We created a cool video series to help → https://buff.ly/43fQSeV #Physicians #Doctors #PersonalFinance

Explore the untapped world of non-clinical discussions capturing physicians' attention on Doximity! Our blog post, "The Non-Clinical Topic That's Buzzing Among Physicians," delves into trending Op-Med pieces, revealing intriguing insights. Discover: 💰 Financial Literacy: Dr. Omar advocates for integrating finances into medical education. Explore Op-Meds like "How Doctors Should Manage Investments During a Bear Market." 💼 Building Wealth: From side hustles to real estate investing, uncover creative ways physicians are diversifying income. Dr. Parikh reveals, "Having Multiple Income Streams Makes You a Better Physician." 🔄 Finances and Health Intersection: Explore Op-Meds discussing the interplay of financial, physical, and mental health. Ready to expand your horizons? Dive into the blog post now! 👉 https://bit.ly/410AK0z

Why Private Practitioners Are Still the Best Choice for Consumers (usnews.com) from 2018 - but still true.... It's true that private physician practices are not as common as they once were. But don't write them off just yet: A private practice is still your best bet for receiving the highest quality of care at the lowest cost. And although the number of private practices has declined significantly in recent years, they are poised for a comeback under a new business model. Here's what that means for consumers – and why you shouldn't give up on private practices: Independence leads to the best care. Under the private practice model, physicians have full autonomy to make the decisions that will lead to the best outcome for the patient. The trusted doctor-patient relationship is comprised of just two parties: the physician and the patient. A third party is often introduced to this relationship when physicians work for large hospitals or health systems. These health systems, primarily led by executives with no clinical training, have a surprising amount of influence in the medical decisions a physician is allowed to make. The organization might dictate what tests to perform, which brand of implants to use in orthopaedic surgery and even push for more surgeries regardless of whether they are truly required by the patient. As an orthopaedic surgeon who has spent much of my career serving patients at my own private practice, I have always valued the autonomy I have to make referrals to the best specialists, prioritize non-invasive treatment options and squeeze patients into my schedule for emergency visits. With this model, I have the latitude to make sure that every single treatment decision is based on evidence, best practices and the patient's health history. Additionally, independent practices are much more nimble than large health systems or hospitals – which means that we can adopt new technology and techniques more quickly.

In an interesting dichotomy, on a Medscape survey of attending physicians, 83% indicated that compensation had a minor or no role in choosing their specialty. This is in stark contrast to the half of residents who said that their potential earnings were "extremely" or "very" influential in specialty choice. It's no surprise that money is on the minds of those who are looking at starting a career with significant medical school debt. Recollections about the role of money in decision-making evidently shift once doctors start making much more money and don't feel as much financial pressure. How much of a role did your future income play in YOUR choice of specialty? #physician #financialliteracy #physicianfinances #physicianincome #physiciansalary #physiciancompensation #personalfinance #specialtychoice #careerchoice #medstudents #residentphysicians #medscape #wci

Austin Technology Council hosted a highly informative roundtable breakfast highlighting AngelouEconomics and its founder, Angelos Angelou. Angelos gave a data-driven forecast of Austin’s economic outlook, in particular opportunities for investment in healthcare technology. Stay with me here…. I often hear and observe nursing not being at the table or with a big enough chair when investments are being made in technology impacting nursing practice and care delivery. A first instinct might be to steep yourself in the technology itself. This concept has certainly been a framework for my career. Overtime, I’ve changed my mindset towards understanding the economic framework, including the greater economics of our nation and the world. This makes your chair at the table……more robust. Nurse Economists are one of my most revered collegial groups - make sure you have them in your network, follow them and find ways to strengthen your knowledge base in economics. If you can calculate drips and understand, at the cellular level, physiology, pharmacology and the human body………….be unafraid of Economics! #austintechnologycouncil #HIT #nursingeconomists #valueinformednursing #healtheconomics #nursingvoice

🔗 𝗧𝗵𝗲 𝗚𝗼𝗹𝗱𝗲𝗻 𝗛𝗮𝗻𝗱𝗰𝘂𝗳𝗳𝘀 𝗼𝗳 𝗠𝗲𝗱𝗶𝗰𝗶𝗻𝗲 🩺🏠 Many medical professionals find themselves wearing the "golden handcuffs," relying heavily on a single source of income. While the medical field can be incredibly rewarding, it also comes with unique financial challenges. 📉 𝗪𝗵𝗮𝘁 𝗜𝗳 𝗬𝗼𝘂 𝗖𝗮𝗻’t 𝗣𝗿𝗮𝗰𝘁𝗶𝗰𝗲 𝗠𝗲𝗱𝗶𝗰𝗶𝗻𝗲? Relying solely on your medical career for income can be risky. What happens if, for some reason, you are unable to continue practicing? An unexpected illness, injury, or burnout could disrupt your primary income source, leaving you financially vulnerable. 🕰️ 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 𝗳𝗼𝗿 𝗘𝗮𝗿𝗹𝘆 𝗥𝗲𝘁𝗶𝗿𝗲𝗺𝗲𝗻𝘁 Many dream of retiring early to enjoy more of life’s moments. But where will your income come from if you step away from medicine? Without a diversified income stream, early retirement might seem unattainable. 💡 𝗧𝗵𝗲 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻: 𝗣𝗮𝘀𝘀𝗶𝘃𝗲 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 Investing in real estate can provide a steady and reliable income stream, offering financial security and flexibility. Here’s how: 𝗥𝗲𝗻𝘁𝗮𝗹 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀: Generate consistent cash flow from tenants, providing a monthly income that can supplement or replace your medical earnings. 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝗦𝘆𝗻𝗱𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀: Pool your resources with other investors to acquire larger properties, sharing both the risks and rewards. 𝗥𝗘𝗜𝗧𝘀 (𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗧𝗿𝘂𝘀𝘁𝘀): Invest in real estate without the hassle of property management, earning dividends from a diversified portfolio of properties. 🌟 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗣𝗮𝘀𝘀𝗶𝘃𝗲 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝗜𝗻𝗰𝗼𝗺𝗲: 𝗗𝗶𝘃𝗲𝗿𝘀𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻: Reduce financial risk by diversifying your income streams. 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆: Ensure a steady flow of income, even if you can no longer practice medicine. 𝗘𝗮𝗿𝗹𝘆 𝗥𝗲𝘁𝗶𝗿𝗲𝗺𝗲𝗻𝘁: Achieve the financial freedom to retire early and live life on your terms. 𝗪𝗲𝗮𝗹𝘁𝗵 𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴: Real estate investments can appreciate over time, building long-term wealth. Taking control of your financial future means preparing for the unexpected and creating multiple income streams. Passive real estate investments offer a path to financial freedom, allowing you to break free from the golden handcuffs of medicine. Lets not stop practicing medicine till we're ready to stop. But if we have to, lets make sure we don't suffer. #FinancialFreedom #PassiveIncome #RealEstateInvesting #MedicalProfessionals #EarlyRetirement #WealthBuilding #DiversifyYourIncome

According to the 2024 Medscape survey, the high-net-worth ranking is heavily weighted toward specialties that perform a lot of procedures. The patient mixes of lower ranking specialties create more difficulty in achieving a higher income to allow more money to funnel to investments. However, high income is not the same as high net worth. Many lower paid physicians are able to live well below their means and save a significant proportion of their income. Many higher paid physicians live lavish lifestyles and don't save/invest adequately for the future. Bottom line: How much you earn doesn't matter as much in building wealth as how much you save. How much of YOUR income goes toward building wealth? #physician #physicianincome #personalfinance #savingsrate #financialplan #financialliteracy #specialtychoice #careerchoice #bulidingwealth #networth #wci