Cure Physician Burnout With Financial Independence | Physician Finance

Описание: Physician Burnout is increasingly prevelant amongs the medical community as a 2019 study from Physician Burnout, Depression, and Suicide reported 44% of physicians experience at least 1 symptom of burnout sometime in their career. In addition, burnout is not limited to physician, an increasing number of healthcare providers have experienced burnout at least 1 time during their education and/or career. In this video, we dive into the cure for physician burnout...and that cure is FINANCIAL INDEPENDENCE.

Journal of Graduate Medical Education reported that 28-45% of medical student experience burnout and 27-75% of residents experience burnout during their training, pending specialty. According to the AMA, the prevalence of reported symptoms was highest among urologist (63.8%) and lowest among dermatologists (29.6%). A study in 2019 reported that 15.6% of all nurses experienced feelings of burnout, with the percentage rising to 41% of all "unengaged" nurses.

Symptoms of burnout include, but are not limited too:
Medical-school/Graduate-school anxiety
Inability to maintain work-life balance
Lack of sleep
Performance anxiety and stress
Taking care of others whom are sick with increased responsibility and pressure

So what can be done? As Physician Philopsher noted "Fight Physician Burnout with Financial Independence"
https://thephysicianphilosopher.com/f...

Many healthcare workers experience burnout out due to the fact that their lifestyle and livelihood is dependent on their paycheck, they become captive by their own job. As healthcare providers, we want to live life and enjoy our job, on top of that, we went through a lot of difficult schooling and we shouldn't have to solely rely on our medical job in order to provide, but rather enjoy the challenges of our career and acknowledge why we decided to enter the healthcare field without fear of losing it for its income value. By creating passive income, healthcare workers become more comfortable at their job and focus without burning out or fear of burn out since that paycheck becomes less of a need. Although it may call for extra working hours in the beginning of their career and will potentially increase their stress, the hard work you put in now, the added stress you may experience will be greater than the burnout you will potentially experience later in your career.

Stresses of the healthcare professionals in the real world is led by hospital organization, insurance companies, and expedited patient turnover, that results in healthcare workers being unable to take care of patients how they were trained. Doctors and other healthcare providers are now working until they are 75-80 years old and that leaves very little time to enjoy all their hard work. It is like the old saying goes "study for 30 years, work for 30 years, retire for 30 years," that does NOT sound exciting and should NOT be the option. Financial independence will allow you to live life the way it is meant to be.

The average physician salary is $224,000 in 2020, pending speciality. But there is 1 caveat, salary is dependent on the system that you work for and the majority of the time is comes down to this...you don't work, you do not see patients, you do NOT get paid. You want to make money, you have to get up in the morning, drive to work, see patients, work long stressful shifts, come home, sleep, and do it all again the next day...if you chose not to...you do NOT make money. So ask yourself, what is your time and freedom worth? Create passive income now, get on that path to financial freedom, put in the extra time to create a new source of income; whether it is stocks, real estate, blogging/vlogging, etc. The less reliable we become on our paychecks from our healthcare field, the more we can enjoy life and enjoy our careers, the less chance we experience burnout.

Don’t forget to hit that LIKE button if you enjoyed the video
Subscribe to our channel: Drs. Gan and Mo- YouTube
Watch out for NEW VIDEOS every Monday, Wednesday, Friday
Follow us on Twitter: @DrsGanandMo
Follow us on Instagram: DrsGanandMo

Top Recommended Books:
Think and Grow Rich – Napolean Hill https://amzn.to/3djdcdx
Richest Man in Babylon: 1926 Edition – George S. Clason https://amzn.to/3dlPjC9
White Coat Investor: A Doctor’s Guide to Personal Finance and Investing – James M. Dahle, MD https://amzn.to/3cfq8RD
The Four Pillars of Investing: Lessons for Building a Winning Portfolio – William J. Bernstein https://amzn.to/2W1hGzo
A Simple Path to Wealth – J.L Collins https://amzn.to/3b4FCpQ
The Boglehead’s Guide to Investing - Wiley https://amzn.to/3dj15gC

**Disclosure: We are not financial advisors, the content on the channel is for informational purposes only and should not construe any such information or other material or other material as legal, tax, investment, financial, or other advice. Invest at your own risk and always do your own due diligence prior to investing.