ENGLISH

Money Matters in Medicine: Managing Personal Finances as a Physician

By Jordan D. Frey

Book information

Publisher
Springer
Year
2023
ISBN
3031272994, 9783031272998
Language
english
Format
PDF
Filesize
3 MB (2896068 bytes)
Edition
1st ed. 2023
Pages
115\102
Time added
2023-05-23 17:15:01

Description

This book addresses both the philosophical and more tangible actionable components of attaining financial well-being as a medical professional. In an engaging, narrative-driven format, it relays the importance of managing one’s finances―even with the high salary of a doctor.  Money Matters in Medicine is an accessible, invaluable resource for early-career physicians who wish to incorporate intelligent money management skills in their development as medical professionals. Chapters include information on becoming financially literate, how to approach insurance, creating a savings rate, and the top mistakes most doctors make with their money. Though there are many financial self-help books in the market, this book stands out, as it rests on philosophies and core standards held by those in the medical community. It presents the strategies to promote financial well-being and ultimately help doctors become more effective physicians with financial freedom. The book includes easy-to-understand guidelines and intuitive steps for readers to take massive action in their lives to improve their financial well-being. Preface Acknowledgments Contents Chapter 1: Why Do Doctors Need to Know About Personal Finance? Chapter 2: Top Mistakes that Doctors Make with Their Money Chapter 3: Becoming a Financially Literate Physician Chapter 4: What Is Your Why? Chapter 5: Protecting Yourself Is the First Step Life Insurance Disability Insurance Malpractice Insurance Home/Auto Insurance Umbrella Insurance Chapter 6: Learn to Keep Score Chapter 7: Harvesting Net Worth from our Income Starts with a Budget Creating your Simple Budget Implementing your Simple Budget Chapter 8: Dealing with our Biggest Liabilities Chapter 9: Securing Your Nest Egg in Five Steps Step 1 Step 2 Step 3 Step 4 Step 5 Chapter 10: Investing Your Money the Right Way Chapter 11: Invest in the Right Places Chapter 12: Spending Is the Key to Your Wealth Chapter 13: Increasing your Clinical and Non-clinical Income Contract Negotiation Utilizing Your Sign-on Bonus In an Ideal World In Our Non-ideal World Moving Expenses A Down Payment on a House Buying a Car Vacation Optimize Your Clinical Income Understanding How You Are Compensated Collections Model RVU Model Evaluating the RVU and Collections Compensation Models Advantages of the RVU System Disadvantages of the RVU Model Create Non-clinical Income Medical Surveys Virtual Healthcare Consulting Expert Witness Industry and Medical Device Consulting Consulting for Other Physicians Medical Device Creation Medical Chart Review Insurance Review Medical Writing Medical Content Creation Chapter 14: How Doctors Can Successfully Invest in Real Estate Passive Real Estate Investing Active Real Estate Investing Chapter 15: A Primer on Taxes Chapter 16: Putting your Personal Plan Together Selenid and Jordan’s Financial Plan Financial Priority List General Financial Guidelines Specific Financial Goals General Investment Plans Equity Asset Allocations Initial Asset Allocation Future Changes Epilogue: What’s Next for You as a Financially Free Doctor? Index

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