Why Doctors Don’t Get Rich

I recently attended a weekend conference focusing on family, legacy, and wealth. There were a lot of rich people there, but there weren’t a lot of doctors.

There were some doctors, though. Several were there because they heard about the event through this website and associated Physicians on FIRE and fatFIRE Facebook Groups

So Why Don’t Doctors Get Rich?

"You see, as physicians, we were never taught to be rich. We were taught to be “poor.” – Tom Burns

Dr. Burns says that “poor” doctors live pretty well, but they spend what they earn, leaving little room to become truly wealthy. They must work indefinitely, often with long, arduous workdays,  to maintain that standard of living.

#3 Thinking employer coverage is enough

Meanwhile, a rich doctor “is financially educated, enjoys freedom of choice, and lives life with purpose, passion, and service.” He’s right. Most doctors receive no formal education in business or personal finance. Too many of us start living “the good life” with all of its trappings before we truly have the means to afford it. Delayed gratification gone wild.

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