Living Rich Can Keep You Poor

When people think about what it’s like to have a lot of money, they tend to envision what it would be like to spend a lot of money.

Of course, having a lot of money & spending a lot of money are not the same thing; in some ways, they’re the exact opposite. Every dollar you spend is a dollar that someone else now has and you don’t.

Living Rich Can Keep You Poor 

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Wealth is defined by net worth, & net worth is built first by saving some portion of your income, then by investing it in some reasonable manner. Income is what you’re paid; wealth is what you have left.

Income Is Not Wealth

Your patients, your family, your friends, and probably even you have expectations of what your financial situation should look like. That is usually imagined in terms of what you spend.

Societal Expectations Are Against You

Society has a bit of a taboo about talking about money. However, that general taboo is nothing compared to what medical students experience from the time they start filling out medical school applications all the way through their careers.

The Money Taboo

- Debt - Student Loans - Cars - Housing and Private School - Advisors - Investing - Insurance

If You Wish to Stay Poor Despite Having a High Income, Be Sure to do the Following:

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