Physician mortgage loans (also known as doctor loans) have been specially designed with doctors in mind. Doctors often have a massive student loan debt. Plus, their work experience may not reflect their true earning potential, particularly the ones who have just finished their residency. Doctor loans help physicians get as much as $1 million from lenders based on their unique financial needs.
In the United States, there is a significant difference in income between doctors and non-doctors. In fact, according to one study, the average physician makes $242,000 while the average American earns just over $48,000. When both spouses are physicians, this income gap continues to exist, but it may not be as significant. However, when only one spouse is a physician (and often they’re female), there is often an economic disparity that can potentially lead to marital stress and divorce.
When deciding to take a new job, many factors must be considered, such as the job title, job responsibilities, potential for future growth, benefits, and salary. A doctor could be looking for more work-life balance, or they may need to relocate their home and family, or an opportunity for advancement.
Healthcare professionals often find themselves wondering what steps to take to advance their careers and get promotions. Let’s look at the different types of job promotions and career advancements in healthcare and how you may reach your goals.
Doctorpreneurs are doctors who have turned their talents into entrepreneurship. With a medical degree, a doctor is best suited to run an entrepreneurial venture, especially one that deals with the health industry.
Physicians have a lot of opportunities to make money outside of the clinic. However, many physicians don’t know how to find these opportunities or even if they exist in the first place. That said, it does always come down to investing additional time or money.
For instance, some contracts forbid employees from practicing within the same geographic location, specialization, or through locum tenens and telemedicine. The feasibility depends on the parameters of the training program.
The duties and responsibilities as a physician are expanding rapidly with a troubling trend showing decreased job satisfaction and compensation. There are quite a few non-clinical opportunities for doctors who have a background and experience in the medical and healthcare industry.
One of the toughest parts of getting started in consulting work is determining you fees. This article covers different fee structures and how to choose one. Don’t undervalue your expertise!
There are a handful of types of business entities to choose from when starting or formalizing a side hustle, and the best one for you depends on various factors. This article goes over the main types of legal structures for businesses and how to choose between them.
Takeaways, highlights, and musings from The Doctors Guide to Navigating a Financial Crisis.
There are many career options within clinical settings that are a good fit for medical graduates without residency. Here are some high paying options.
Physician recruiters are helpful if you are looking for a nonclinical physician job. Here are the different types of physician recruiters and the differences in how they work.
Having a contract is important, especially if you are doing work as a 1099 worker. Here is a personal example of why. In this case, the client refused to pay me – the contractor.
Many physicians lack knowledge on the business side of their side hustles. To fill in the business gaps, here are free online courses related to several aspects of a side gig.
There are numerous reasons why physicians and advanced practice providers seek out additional sources of income. Here are five physician side gigs that have low barriers to entry and a lot of flexibility.
A lot of companies conduct paid physician surveys to get in the heads of physicians. Here are my top 5 paid survey websites that you can do anytime, anywhere.
Most early-career physicians are HENRYs (high earner, not rich yet). Here are 6 tips on how to make the most out of this situation.
This inaugural issue of The Watering Hole focuses on earning more income, improving your online reputation, getting up to speed with state of telemedicine, and preventing burnout.
Doctors making house calls isn’t a thing of the past. Here are five types of house call physician jobs ranging from full-time employed positions to side gigs to business ownership opportunities.
Automated investing with platforms such as Emperor Investments makes building an investment portfolio fast and straightforward. It is perfect for physicians and other busy professionals.
Physician independent contractor tax deductions can really add up. If you have income from a side gig, don’t miss out on them! Here are 10 that you might qualify for.
We tend to spend a lot of our professional lives trading time for money. Make physician hourly wage a thing of the past with these six tips, which hold true whether you’re a full-time employee or self-employed, and whether you’re practicing clinical medicine or do nonclinical work.
There are so many alternative sources of income for doctors and medical professionals. It’s a great time to get started with a side hustle. Here are five reasons why, and how you can use them to your advantage.
‘Alternative investment’ is a broad term, though it generally refers to any number of investments that fall outside of traditional stocks and bonds. Alternative investments include investing in private companies (such as startups), peer to peer lending, real estate and real estate crowdfunding, investing in assets that have value (such as precious metals, hedge funds, and others.
Uncertainty about income is one of the main hesitations among physicians considering a transition to a nonclinical position. Average physician salary by specialty is easy to find, but is largely drawn from surveys of physicians practicing in traditional clinical settings. This post aims to provide a ballpark physician salary comparison for the most popular nonclinical jobs.
The demand for expert network services has grown steadily in the past decade. As a physician, you can earn a high hourly rate by simply talking about your areas of expertise on the phone. Learn about the best expert networks for medical professionals to join.
A B2B business involves you, as your own small company, making a transaction with another business instead of with an individual consumer. One of the best parts of starting a service-based business is that the barriers to entry are very low. Physicians have a great breadth and depth of knowledge that is an excellent foundation for services tangentially related to healthcare, but without the red tape and regulation of opening a medical practice.
Any doctor start and run and successful, profitable business. Small businesses that offer a service as their product are a perfect solution for many physicians wanting to earn extra income, share their knowledge, help with peoples’ challenges faced by people or companies, and have more autotomy in their work.
Building a personal brand is especially important for entrepreneurial physicians and those with non-traditional careers or their own businesses.
