Doc G This is part 2 so if you didn’t listen to part 1 (ep. 37), do so first.
How did this internal medicine physician achieve a high net worth ($6M) at a young age? How was he able to 5X his income from the time he started practicing to now as a primary care physician in a large metro area?
Many physicians are resigned to the work, work, work mentality but don’t have a plan to increase their professional income. Investing is great and passive income is fantastic, but why not get paid appropriately for what you trained all these years for? Doc G talks about how he learned to optimize his workflow at all stages in his career and was constantly assessing what brought him income and joy and tried to remove those parts of his practice that didn’t.
While we are constantly learning about medicine via journals, conferences, presentations, etc, how many of you are consistently optimizing your own practice? It’s important because it will bring you greater job satisfaction and decrease burnout. The corporate practices do this but not for your benefit, so its vital that you assess how you practice.
It’s also great to see that primary care physicians can become very successful financially in this era of medicine.
Let’s continue the discussion over at the Doctor Money Matters private FB group (you need to request membership).
This is the rockstar finance ranking of the bloggers by net worth. 4 of the top 5 are physicians, but Doc G is one of the younger ones. One of our previous guests is also on there. Dr. Cory Fawcett. (Episode 5 about debt)