Irregular expenses are more regular than you think
If you're only tracking the big picture numbers, you're missing the real cost of living, and the real cost of buying a home
There's more than the monthly payments
From today's new episode of Physician Cents
When buying a home, the sticker price is not the full cost
Watch for:
- Utility deposits
- HOA fees, some run $1,000+ per month
- Selling costs if you move again in a few years
- Buying costs on the next place
This is one of the largest purchases you'll make
Know the full
I have mixed feelings about guaranteed salary.
The instantaneous high income is nice to work with.
But it's not truly based on reality, not yet anyway.
If the doctor will eventually be on production-based pay anyway, it'd be better if income was tied to that from the outset.
Initial thought:
Our services are worth what our customers are willing to pay.
In academia, I break services down into 3 categories:
Clinical
Teaching
Research
Who are your customers?
- The insurance industy
- To a much smaller degree, the sources of grants.
Yes, doctors
Agreed! I’d further argue that physician compensation must account for the opportunity costs of a career in medicine, many of which are largely invisible to the public: educational debt, years of reduced earnings, delayed saving and investing, lost compounding, and a much shorter