investment
The tanking of the stock market early in my career and the steady rise for more than a decade after also played in integral role in my accelerated path.
We are increasingly burdened by non-clinical day-to-day tasks such as prior authorization, insurance forms, inefficient electronic medical records, CLN learning modules, etc…, which seem to become more burdensome and frustrating.
In my opinion, the main way to counteract this ever-present physician burnout phenomenon is to take some control back of our time. As we go through life we come to realize that our most precious resource is not our money, but our time.
Financial Independence or (FI) allows one to either use investment drawdown or cash flow to cover one’s daily living expenses. These basic expenses include housing, food, transportation, taxes, clothing, etc.
A Faster Way to FI
In my opinion, a more efficient hybrid approach for many high-income physicians would be to combine the traditional investing model with passive real estate syndications as a limited partner. It amazes me how many physicians have never heard of this strategy or its utility.
The time freedom one obtains can take away that subtle financial pressure that can weigh on you, and many have said has made them a better physician. You can then focus on the things most important to you, and have the opportunity to be more present with your patients, family and loved ones.