Yesterday a friend approached me giddy with excitement. He’d rolled over his legacy retirement account from an old job into his new Vanguard account, and with that money he’d purchased thousands of dollars of total stock market and total bond market funds! Pushing the buy order made him feel like the most powerful man in the universe. I’ve been meeting …
Docs Who Cut Back #6: Dawn Baker, MD / Practice Balance
1. What is your specialty? Anesthesiology 1a. How many years of residency/fellowship did you complete? 4 years of residency 1b. How old were you when you began to cut back? I started working 0.75 FTE straight out of residency (I was 37). After my daughter was born, I cut back to 0.5 FTE at age 42. 1c. How many years …
Alchemy In Medicine: How One GI Doc Spun Turds Into Gold
Image above is a 2000 year old child potty trainer from ancient Greece. Accepting turds as a fact of life from an early age prepared me well for a career in medicine. Growing up, my father and great uncle built a small outdoor aviary in our back yard, where we raised tropical finches and quail that we sold to pet …
Director’s Perspective: How To Gracefully Go Part-Time (And Stay There!)
Vagabond MD is a practicing radiologist who holds the unique position of having sat on both sides of the part-time medicine negotiating table. As a former Department Chief, he was the decision-maker tasked with weighing the interests of physicians who sought to cut back against the interests of the group as a whole. As a physician who struggled with burnout, …
My First And Second Businesses By Crispy Jr
A few weeks ago I found my son packing several balloons into his backpack. When I inquired what they were for, he informed me they were part of his business, and showed me his ledger of clients. It turned out this was his second venture as an entrepreneur. Crispy Jr was kind enough to allow me to interview him for …
Docs Who Cut Back #5: Wealthy Doc
Wealthy Doc was possibly the first physician finance blogger, generously helping us learn financial literacy back when Al Gore had barely invented the internet. In those days, the White Coat Investor had not yet started his blog, skinny ties were all the rage, and we docs were doing stupid things with our money. Nearly a decade later, WCI might clear …
Why I’m Applying To Become An LLC on December 17th
One of the eye-opening realizations I took away from attending FinCon18 was that I need to form a Limited Liability Corporation (LLC) before I try my hand at consulting. The benefits of an LLC are that your assets and the corporation’s assets are separate. This is theoretically a barrier preventing a client who goes after your business from going after …
Docs Who Cut Back #4: B.C. Krygowski
B.C. Krygowski is a physician, author, blogger, wife, mother and the generous spirit who brought wine in abundance to share with her fellow docs in finance at FinCon18. She exemplifies one of the more radical course corrections I’ve heard about in medicine. B.C. has kindly shared the unvarnished version of her origin story to let us see where she started, …
That Time I Bought New Pants For A Penny
It was a decade ago, the day of our annual hospital gala, an event known in our household as Doctor Prom, and I had no pants to wear for the evening’s festivities. I’d recently found a snazzy blazer that screamed Christopher Moltisanti from the Sopranos. I needed a matching tie to fit my budding image as a would-be mafioso. Additionally, …
Strategies For Cutting Back: Group Policy Change
But we’ve always done it this way! Medicine is a conservative profession, where change is viewed with suspicion and the reason, “But we’ve always done it this way!” is as unquestionable as, “I’m the mommy, that’s why!” was in childhood. (Incidentally, the latter was the bumper sticker on the station wagon that served as my first car, which made meeting …