Posts Tagged ‘Financial’

You’ve been labeled. Even if you’re still a medical student, an intern or a resident… you are “one of them”, “one of those doctors who sleep on bags of money”. At least that’s what a lot of people think, anyway.

When you bring up your debt or how long your training is, it doesn’t matter. It’s irrelevant that everyone else enters the workforce 8-10 years before you. You’re still one of them. It says so right here, in such-and-such a magazine that your average salary is XYZ.

So guess what? You’re gonna pay more. Period.

Well, that’s how the Doctor Tax gets you. Now it’s time to change all of that. Check out this video. You’ll learn why you’re charged more and how to stop that from happening. I’m not saying you should be stingy… I’m just giving you the tools to have a little more control over your money. And the first step is to know the who, the why, and the how of the Doctor Tax.

Debt sucks. And if you’re like me, you probably chose to sort of ignore it at first. That’s what I did… early on anyway. At first, I bought into the fact that doctors were higher wage earners, in general, so I assumed that I would have no problem conquering my debt after residency training.

Well, in my third year of medical school, I began to overhear occasional conversations by attendings and upper level residents complaining about their debt. I saw some of my non-medical friends from college begin to buy houses and cars. And I thought… if the debt burden is already going to be huge, how is that new doctors are able to buy homes right after their training? Do they just add more on top of their already large mountain of debt?

What would happen if there were a life-changing event? A chronic disease? A severe accident? Or a delicate family issue that needed tending to? There’s no way they could leave their jobs, even for a short while, with all of that debt… right?

Well, I saw something horrible happen. A third year resident in internal medicine had begun to develop strange neurologic symptoms. After extensive testing, it was discovered that she had multiple sclerosis. I watched her deteriorate in typical step-wise fashion from a fully functioning resident… one of the best, in fact… to the point where she needed braces to walk. I hear that after I left that hospital that they allowed her to complete her residency even though she couldn’t really finish all of the rotations. Although she probably had several options after her training – consulting, writing, etc – I couldn’t help but think… what if that were me?

What would happen to my wife and kids if my debt came due and I couldn’t work? Anyway, I digress. Let’s get to the next video.

In this video, I show you how I rapidly… and I mean rapidly… got out of debt. This is Part 1 of a two-part video. Even though Part 2 is only available to members, this one gives you the exact step-by-step plan I followed. Click this video’s image to get started. (It might take a few extra seconds for the video to start. The file is a little large.)

For an introductory video this is a little long, but it is important. I don’t know how you feel about it… but if you’re like me, then you probably feel that your training thus far, was pretty skimpy on the financial and business side of things. That’s how I felt anyway.

Well, I’m going to try to change that. And here’s the road map. (My apologies, though… I wanted to get this video out, so I made it while I was pretty sick. It took a lot of editing for the coughs, sneezes, and random breaks in clear thought.) Click this video’s image to get started. (It might take a few extra seconds for the video to start. The file is a little large.)

In the next video, I’ll show you how I rapidly… and I mean rapidly… got out of debt. I’ll give you guys the exact step-by-step plan I followed. You can take it or leave it, but I bet you’ll find it quite useful.

I posted a blog post a couple of weeks ago, just after the American Board of Internal Medicine (ABIM) issued a press release warning about scam certification boards. In that post, I mentioned that I was working on an identity theft report for Rookie Docs – medical students, interns, residents, fellows, and new attendings.

Well, the report is done… all 40-some pages of it. And you can get it free. “Free” meaning no money, but not entirely free. It will “cost” you three short questions.

Now, I can sit back and write random post after random post, not having a clue if you find them interesting and helpful… OR, I can ask you what you want me to write about. So, that’s what I’m doing. That’s the catch…

You anonymously answer three short questions about your financial fears and concerns, and I give you a free 40-page ebook on protecting yourself and your patients from identity theft. Sound fair? Here’s what I want you to do:

1. Click on the ==> 3-question anonymous survey link <==
2. Answer each question honestly
3. Click “Done” after answering the third question
4. You will be redirected to the download page
5. Download and read (or skim) the report, or not…

Keep in mind, I am not a lawyer (thank God), I am not a financial planner, I do not know your particular circumstances, and my advice does not substitute for a qualified professional in these areas. You can take my tips or leave them. In general, it is solid advice, but it may or may not apply to you.

And, as always, I want your feedback. (And a quick thanks for all of you who gave such good reviews of the CXR Mistakes report in the Members Area… keep it coming)

Most residency programs offer an education stipend or allowance. If you’ve purchased anything related to your training lately, make sure you submit your receipts. I posted Reimbursement Request Templates in the RookieDoc Members Area. Just plug in your information, print, and hand it in to your program.

By the way, for those of you in the RookieDoc Mastery Orientation Program, make sure you submit your receipts for reimbursement. RookieDoctor.com services should count under your education stipend. If your program does not reimburse you, send me the program address and a contact person and I’ll see what I can do. So far, every program that receipts have been submitted to have accepted them.