Debunking 7 Financial Myths Overheard in the Doctors’ Lounge

There is a lot of advice out there, and a lot of it is wrong. Financial myths abound everywhere – at lunch, at dinner, at a holiday party. Most of them aren’t true.

Here are some of the best ones that I’ve heard along with my explanations of why they are wrong…

Debunking 7 financial myths overheard in the doctors’ lounge

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No matter where you are beginning now, you absolutely can achieve financial freedom and be rich as a doctor.

You can’t get rich as a doctor anymore

When you are a lender, your ideal scenario is that your borrower never pays you back fully. That way, you just keep collecting more and more and more interest.

Die with debt so that your debtors don’t win

No one likes taxes. But they do serve a purpose. You also only need to pay the amount you legally owe. So start learning and taking action and stop paying more than you owe!

Taxes are killing doctors

Even if your employer offers a 401k with a match, a 457, and an HSA, you will likely still have leftover savings to invest if you save at least 20% of your gross income like you should.

My employer doesn’t do enough to help me build my nest egg

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