Have you ever watched a movie a second time and not only appreciated the film more but also noticed nuances that you completely missed the first time around?
Some of the best financial advice ever given to me by a colleague is encompassed in these four words: “Live like a resident.” Simple, yet profound.
Believe it or not, living within your means doesn’t get any easier whether you make $40,000 or $400,000, you’re just moving bigger numbers around in your budget.
You can save money fast for a down payment on a home. That gets you a little lower fees and interest rate than using a doctor mortgage loan.
Working more has the added benefit of improving clinical skills and establishing business contacts with physicians and others.
When you do upgrade your lifestyle, remember that 5 times the pay doesn’t equal 5 times the lifestyle. You will pay far more in taxes as an attending.