Why Creating Additional Income Streams is No Longer Optional

How many income streams do you have? I’ve got six — the five passive streams mentioned here and the active income stream that is this blog — and I’ve got 3 more coming to me, eventually.

When I was a young attending physician, I didn’t think much about non-clinical income streams.

I had a secure job, or so I thought, as the only anesthesiologist practicing in the county. I was let go as the hospital spiraled into bankruptcy. Yup, that happened.

Why Creating Additional Income Streams is No Longer Optional

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As far as income security goes, physicians are seeing more and more that their ability to earn a stable income doesn’t necessarily depend on them. A job well done doesn’t mean a reliable salary these days.

More Income Streams = More Security

Industry disruption has been happening in medicine right along with every other industry out there, and it will continue to happen. The rise of telemedicine in the pandemic serves as one example of this.

Industry Disruption is Commonplace, and Medicine isn’t Immune

Whether you’re a doctor or a banker, an artist or an accountant, nothing in this life is certain. We’re all bound to see some curveballs in our lifetime.

Life is Uncertain.

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