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Did you residency experience teach you a thing or two about managing your finances as a physician and what it will take in order to securely retire? I would love to know even just the basic financial education needed to keep us from making poor judgments or listen to poor advice.
I wish my residency have taught me about managing finances--whether income or investing on some stocks or running my own business. These things were discouraged during my training. I knew less about finances and the business of running a practice than I care to admit.
I have several chiropractor friends, and they do get training in business practices and get quite a bit of financial education. Though, I agree with that there is a lot to teach given the 80 hour work week, I think we owe it to our residents and our profession to prepare them for the reality of real world.
To Dr, Florence: I don't think your residency has the responsibility to teach you personal finance. The financial aspect of running a practice, coding, and billing, yes, but personal finance and retirement planning? With work hour restrictions, there isn't enough time anymore to teach you everything you need to know about taking care of the patient, so I hope they are not spending a lot of time on personal finance.
I personally think that resident doctors should take the time to learn on their own, but we should also try and give them some reputable resources. Teaching these doctors about financial management, just like medical education on the web and in real life, these are riddle with quacks just looking to take advantage of docs.
I wish my residency should have taught me how to balance my time for both my family and my profession. I am a wife and a mother of three aside from being a medical doctor and I honestly find it hard to balance my time especially now that my kids are going to school and they really need a mom to care for them.
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