Passive Income During Residency | PPhREI Network Roundup | 1-28-2024

by The Darwinian Doctor

In this roundup from the PPhREI Network, we discuss generating passive income as a resident and the fact that doctors are going to have to save themselves.

The Prudent Plastic Surgeon

In this post, Dr. Frey examines the concept of passive income as it applies to physicians during residency training. Is this even possible or advisable? Jordan gives it a resounding Yes!

He clarifies that there are a few specific ways that he endorses, specifically:

  • Index fund investing
  • House hacking
  • Using the margins of your budget to invest
  • Utilize your medical expertise

Out of all of these, I think the index fund investing is the most important. You may or may not be in a financial place to house hack, but you should be able to start saving a small amount of your resident salary into your 401k. Even if it’s a little bit, it will compound over time.

Read the whole post at the Prudent Plastic Surgeon blog: Is It Stupid to Chase Passive Income as a Resident?

The Darwinian Doctor

In this post, I talked about some of the big challenges I see in American healthcare:

  • The increasing control of insurance companies over healthcare decisions
  • The en masse purchasing of medical groups and ERs by private equity
  • The physician shortage

After discussing these, I talk about what I think is the right approach for doctors. Rather than waiting around, hoping for a savior, I argue that it’s time to save ourselves. How? Through taking ownership over your day to day work life and moving towards financial freedom.

Read the entire post at the Darwinian Doctor blog: Physicians, No One is Coming to Save Us

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Since everyone is different, it may not be appropriate to generalize my doctorly advice to your own situation. Please run all medical, life, and financial advice by your own physician or financial professionals before applying it to your own life! Consider all information for your entertainment only!

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