Why Many Doctors Live Paycheck to Paycheck

How is it possible to burn through a quarter million dollar salary? Passive Income MD, living in a high cost of living area, sees it firsthand. Here, He’ll demonstrate just how easy it can be.

Why Many Doctors Live Paycheck to Paycheck

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When it’s been broken down, it’s easy to see why the average doctor might be struggling to keep up, especially living in a place like Southern California. And how do most physicians make up the difference?

The Breakdown of Living Paycheck to Paycheck on $250,000

They work harder and longer. Perhaps they pick up extra shifts. Unfortunately, this equates to simply working more just to support your current lifestyle, leaving precious little to be able to save or invest.

I’ll never pretend to have all the answers. I just know that I am taking steps to avoid ending up in the same situation. Yes, one of the obvious answers is to reduce your expenses. That’s easy to suggest.

Surely, there must be a better way

However, I want to focus just as much on creating additional sources of passive income. The harsh reality is that we can only work so hard. Our time is both limited and precious, and it shouldn’t be spent working more, just to make ends meet.

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