Physicians Pursuing Financial Independence

Physicians Pursuing Financial Independence

Today I want to highlight the latest episode of the What’s Up Next? podcast. The general topic of discussion is physicians pursuing financial independence.

The podcast is hosted by Doc G of DiverseFi and Paul Thompson. Each episode includes a diverse panel of guests who take the conversation of FI to the next level. And this episode is no exception.

Not surprisingly, the guests for this episode include four physicians:

• Side Hustle Scrubs – Side hustler extraordinaire. He is a master of his craft and deftly uses his creative wit to transform dry, boring topics into fun, laugh-out-loud bits of comedy.
• Crispy Doc – Burnout survivor and mojo recovery specialist.  He is a literary genius whose words always seem to flow like poetry.
• KevinMD – Social media’s leading physician voice. He is an authority in the field. Enough said.
• Dr. McFrugal – Yup, yours truly.

 

Gratitude

First of all, I want to thank Doc G and Paul Thompson for having me as a guest. It is a tremendous honor to be included in this illustrious group of physicians. I was very humbled.

Additionally, I now have a much greater respect for those who create podcasts. As a busy professional who is constantly trying to balance work and family life, I love podcasts. Listening to content makes it so much easier to consume and learn valuable information on the go. While commuting to and from work in my Tesla, I’m always listening to my favorite podcasts!

That said, I definitely take podcasts for granted. Just like how I took blogs for granted. I never truly understood how hard it is to blog until I did it myself. Now I know how hard it is to be a part of a podcast!

This episode was my first experience in podcasting. I have to admit, I was a bit nervous at first. After all, I’m already pretty self-conscious of my speaking abilities. But Doc G and Paul Thompson did an amazing job making the environment comfortable, friendly, and non-intimidating. Their calming presence put me more at ease.

If I thought being a podcast guest is hard, of course being a podcast creator is even harder. It’s evident that Doc G and Paul Thompson thoroughly researched their guests and they have a great deal of expertise of the subject matter. Not only that, they seamlessly moderated the discussion while injecting morsels of insightful comments whenever appropriate.

Whether it’s blogging, podcasting, YouTubing, Instagramming, or whatever, I have a strong appreciation for all content creators. I know it can be a lot of hard work!

 

Topics of Discussion

The episode starts off with a bang as we discuss a popular (and controversial) guest post on Physician on Fire that was written by a newly retired primary care physician.

Then, our conversation expanded to other interesting topics including:

• Why should physicians pursue financial independence?
• Is it wrong for physicians to retire early?
• Do physicians have a moral obligation to stay in medicine?
• Is the current state of medicine sustainable?

We discuss much more in the episode, but I just wanted to give you a bit of a teaser.

You’ll have to listen to the podcast to hear what we have to say!

 

Final Thoughts

Answering tough questions like the ones we discussed in the podcast is very challenging. This is especially true if there are no clear answers.

For the record, I think everybody should pursue financial independence. Physicians are no exception.

Additionally, the decision to retire early is truly a personal one. I love what I do, so I don’t think it’s for me. But at the same time, I’m not going to vilify or shame other physicians who choose to hang the stethoscope early.

That said, I did make the conscious decision to cut back recently. I detail my reasons why in this guest post at Crispy Doc, which happened to be published today as well. What a coincidence!

Do I think that physicians have a moral obligation to stay in medicine? No, not necessarily. However, I will say that it is an incredible honor and privilege to help others as a physician. But in some cases, staying in medicine and continuing to practice as a burned out, over-stressed, impaired, or unwell physician can potentially do much more harm than good. If this is the case, then seeking help and taking care of yourself should be priority number one. This could mean cutting back.

But if it means leaving medicine all together, so be it. And nobody should be shamed, vilified, or judged harshly for their life choices. Do whatever is right for you. There are plenty of other ways to contribute to society in a positive way.

I believe that nobody should have an obligation to stay in any one career, including medicine.

The only moral obligation we should have as humans is to be responsible members of society who strive to make the world a better place.