I see. Hospital medicine is more flexible. For instance, I can choose to work 1 week and be off 3 wks. Though I will 'only' make 165k/yr
If you locum at a critical access location (24 hours shifts but usually super chill) or nocturnist (12 hours shifts) you can make $2,500-$3,000 per shift.
What are the drawbacks? I don't see many TBH.
Let's also not forget to mention DUKE. Despite their reputable name, these birdbrain dimwits somehow, someway actually found their way into the SOAP. All they had to do was interview a couple of DO's just in case things didn't go their way. Well... things didn't go their way. At least they kept true to their snooty-ness. They managed to pull a USMD out of the SOAP. But now, everyone who read this post or saw the SOAP list will know that DUKE WAS IN THE SOAP. DUKE WAS IN THE SOAP!!!
Yet another historically zero DO program, finally let one in this year... what a coincidence.
The economic dread today was much worse in 2008 when the housing market dropped. Market plummeted with RE. Same thing will happen by 2025. The best time to invest is when everyone leaves from fear and not during a bull market.
If you buy 5 properties now, I will bet in 5 yrs you will be way ahead.
Very realistic. If you come out with 300K loans, that is 1.5 yrs of working like a resident. Pretend you are doing GS, suck it up, get rid of that in 2 yrs while living on a very comfortable 100K. You are essentially 1.5 yrs behind a EM attending leaving with zero debt.
Completely agree. People are afraid to act. Take the steps. Baby steps if needed but this isn’t the field where you can work your 3-4 shifts a week and in a decade not be burnt to a crisp. The larger system is collapsing imo. Your hospital may be fine for now but not for long.
Props to you for hitting 1M man. That's impressive. I also finished residency in 2019, and I can tell you I hustled like crazy (sometimes working 20+ shifts in a row). I'm a single, low maintenance kinda guy coming out of med school with no student loans. Even then, my net worth is 850K (and that's including my 401K, stock that's not doing too well). I do live and work in one of the major cities with lowest salary/highest COL/highest tax, but even then, it makes me think I'm might be doing something drastically wrong in terms of investing and managing my asset.
We are spoiled. We tend to believe other people out there are swimming in cash because we have people who share our socio-economic status in our entourage.
That is not bad since you have been an attending for <4 yrs.
Some will compliment your Janis Joplin reference, but I know better - nice Kristofferson nod.
Didn’t Duke go big on PA training or something? Like an ER PA residency where they advertised about the high level procedures their trainees do? Or was that somewhere else?
Depends on whether he owns a home or renting….
20 years ago. It's not a new thing.
www.cbsnews.com
Draw backs:
You are doing fine and will be FIRE quickly as it just snowballs after you get 1-2M. The 1st million is always the hardest. My first Million prob took me 10 yrs, then 10M in next 10. Money not only compounds but you use money smarter with more business ventures.
But where you live Makes a huge difference.
Here's how far a $100K salary goes in the most — and least — affordable U.S. cities
While a six-figure income has long been seen as a marker of success, in some cities it barely covers the cost of living.
living in Texas vs California essentially means you have to make twice as much and we know Tx pays more for EM docs. So if you live in an expensive city with low pay, you are essentially working 2 shifts for every one someone does in Texas.
I had a coworker 10 yrs ago move from the bay area to tx. His income increased, came to Tx with very little and in 5 yrs, prob had 2M net worth with just the properties he bought.
I want to come, not go.
Property tax stinks for sure but its part of doing business. I have seen rates go up and not down given the current shortage.
It was a mix of 8, 10, 12. I was able to negotiate for mostly day shifts, so I didn't have to mess up my circadian rhythm. That def helped a lot.
So, what are the other 3? My former radiology colleague works for a major teleradiology company now. He works exclusively from home and makes his own schedule. He can take months off if he wants. He sometimes takes a workstation with him and works from Hawaii and overseas (one can work from overseas if does mainly prelim).
Rad, GI, derm
Psych. Psych is the best IMHO.
I forgot psych. Psych would make it top 5.
Well, Rads and Derm (mentioned above) are 2 of them. Anesthesia had a rough patch a few years ago but the need for them right now is massive and the contracts I've seen some groups get are ridiculous. Ophtho is getting bent over by private equity, so less good unless you're doing retinas or oculoplastics.
This post is very illuminating. I'm not trying to say that EM doesn't have big problems, it does, but this forum seems to have a short memory.
Ophtho is not actually in danger from PE. If worse comes to worse, it is one of the specialties where solar practice is still an exceptionally lucrative option. If you buy into or have your own surgery center, it becomes a seven figure specialty.
I notice that no one gives a damn in medicine until it starts affecting their specialty.
*after multiple fellowships.
True, also can be used as another nail in the coffin for EM. We get the emergency department and …. Well, that’s it.
