Now that I have my first attending job outside of residency, its time to set up my first 401k. I opted not to create one during residency which I discussed in my post about my retirement mistake during training. No need to dwell on the past, I’ve already learned from it and moved on. Looking forward, I plan to take full advantage of tax deferred accounts which means I will max them all out this year.… Read the rest
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Ask any physician why they went into medicine and I would bet that would you get a response that did not include becoming wealthy. Its possible to still have an excellent quality of life as a physician, but to amass amazing amounts of wealth at an early age (<40) is nearly impossible. This is mostly due to how training takes a decade or more of a physicians times.… Read the rest
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Retirement is something that, for the average resident, is rarely on their mind unless someone takes a special interest in personal finance and investing. On day one of residency new residents are often more concerned with student loans and preforming well during ones training than saving for retirement. My orientation included a week of lectures, some more interesting than others. One hour of these lecture was filled discussing retirement.… Read the rest
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