For those who have not been following the blog over the past few months, I have been using my (almost) weekly publishing cadence to write a book.  I am still somewhat unclear about what I plan to do with this work when it is completed, but I foresee it will last approximately 14-15 chapters.  Our most recently published post marked the completion of Chapter 7 of our current content series; thus, we have hit the halfway point! Here is a free personal finance guide for physicians (so far…) Table of Contents Before I Start the Back Half Doctor Money: A Personal Finance Guide for Physic ..read more

I sometimes dread writing about this topic because it is nuanced and situation-specific.  However, fortunately, most physicians in training (or exiting training) will fall into a few categories.  No matter how you eliminate your debt, you should create a sound plan and stick to it.  This chapter will discuss the broader categories available to you, the pros and cons of each, and a few disclaimers to understand as you navigate debt repayment.   Debt can be a very personal and emotional topic, so please understand that though I often make light of the situation, it is imperat ..read more

As we move forward in our Doctor Money content series, I feel it imperative to place asset protection adjacent to our previous chapter on emergency funds.  I see an emergency fund as a form of asset protection; however, when it comes to insurance coverage, that is a different beast entirely.  The world of insurance coverage can feel wildly overwhelming and complicated.  Here is the spoiler: it does not need to be.  After you take the time to review this chapter’s contents, you will understand why there are a number of insurance requirements.  The necessities you absolu ..read more

One of the first posts I published on our website was titled Emergency Fund: Your First Financial Goal.  Since creating The Motivated M.D., one of my most frequented topics has been emergency funds.  They serve an integral purpose in asset protection and alleviating financial anxiety.  This week, we publish Everything You Need to Know About Emergency Funds.  This will make the fifth chapter in our Doctor Money content series.  Everything you have ever wanted to know about emergency funds is here.  Table of Contents Doctor Money: A Personal Finance Guide for Ph ..read more

Welcome back. I feel like we are really hitting our stride now. This publication marks the third contribution to our content series titled Doctor Money: A Personal Finance Guide for Physicians. Each week, we publish a new post that (essentially) acts as a de facto chapter.  This week, I submit to you Chapter 2: Setting Realistic Goals; however, I have formally named the blog post How Doctors Can Set Realistic Financial Goals.                           ..read more

This is the second post in our new content series, Doctor Money: A Personal Finance Guide for Physicians. Each week, we work to publish a chapter (more or less) in this book.  I am using our website as the platform to provide this content free to our readers!  However, my ultimate goal is to compile all of the posts in this content series into an e-book (or an old-fashioned paperback) sometime in the future. For now, I am just enjoying the journey, one post at a time! Last week, we published our inaugural publication for this content series.  This was the formal introd ..read more

At The Motivated M.D., we seek to promote products that will improve the financial well-being of our readers. Through my work on the site, I have had the opportunity to work with hardworking and reputable real estate investment companies and their respective platforms. I do my best to personally interact and vet each of the investments listed below, but given the fact that there are various ways to invest in real estate (funds, syndications, platforms, REITs, and turn-key properties), and that the nature of these investments requires a more ‘long term’ relationship, consider this more of an ‘i ..read more

Recently, I published an article titled Is The FIRE Movement Contributing to Physician Burnout? I firmly believe in the benefits of financial independence, but an overly frugal lifestyle may also expedite physician burnout. Physicians have a complicated relationship with money, and without an appropriate financial education, the use of money on either end of the monetary spectrum (i.e., overspending or over-frugality) may ultimately place doctors in unsustainable situations. After I published the article above, I thought about what the ideal financial situations look like for physicians ..read more

There have been many publications over the past few years about physician-side gigs. Whether they are a response to economic pressures, a burnout epidemic, or strictly the joy of extra income, side gigs can be a great option for doctors to diversify their revenue. Our site is no stranger to this concept either. I have written extensively about some of the best physician side gigs. However, one that seems to have become a mainstay for many is paid medical surveys.  Who doesn’t want to earn a little more money using their expertise alone? Healthcare professionals spend years (if not de ..read more

Over the past month, my wife and I completed our taxes and sent them to our accountant. Earlier this week, we were told we owed an extra $25,000! We were caught off guard to say the least. To preface, this is the product of being a high-income earner, a welcome problem. However, given that we consider ourselves financially savvy and that I write about personal and physician finance, this was an unforeseen expense. Though 2023 was my first full year of attending income alongside my spouse, we thought we appropriately withheld and saved. It was not enough.   We live well below our mean ..read more