KevinMD July 29, 2024
W. Ben Utley, CFP

Most physicians step into their careers already burdened with over $200,000 in student debt, no assets to speak of, and a nagging feeling that they’re way behind. If you’re the primary breadwinner in your family, this pressure can be even more intense. Interestingly, most doctors didn’t pursue medicine for the paycheck. But once that MD is proudly displayed after their name, they are thrust into a relentless sprint to catch up.

It’s easy to overlook a crucial fact: you’re in the top 5 percent of earners. You’ll catch up, no matter how many extra shifts you take or patients you see. Doctors are incredible problem solvers but tend to overcorrect when faced with financial instability. Suddenly, the pendulum swings from...

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