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Hi,
Not someone who generally compares myself to others due to the whole comparison being the thief of joy, but I decided to check something out of curiosity this weekend and I was feeling a bit surprised.
Was driving through an area in the Midwest (medium sized town) and was stunned by the homes I saw. Now normally when I see a huge house, I just shrug it off as that person being wealthy and a hard worker. However, this area was full to the brim with insane houses. Every street, every other neighborhood was donning insanely large homes. I began to wonder what these people did for work. So I sat down and went down the rabbit hole to see what the owners did for work. (Jobless behavior but my curiosity got the better of me).
I was stunned to find out that there were little to no physicians in these neighborhoods. And it wasn’t just 1-2 neighborhoods. I mean 10-15 of them showed little signs of harboring physicians. The occasional one that would pop up would be a thoracic surgeon, general surgeon, or ophthalmologist.
Many of the people that lived there had small businesses they ran. Accounting firms, law firms, landscaping, construction companies, dealerships, etc. A good portion of them were also Directors or VPs of small to mid size companies I had never heard of before. They weren’t glamorous corporations by any means.
Which leads me to my question. How does your average doc get wealthy? And no I’m not talking about the guys ultra specialized who are making 600-700k+.
There are many that naively throw out the suggestion of just starting your own practice without understanding what it takes to do so. There are those that throw the vague idea of starting a business out there. But what businesses have you seen or been involved in where physicians can get to being wealthy instead of upper middle class?
How does a physician reach that tier that puts them at high upper class/ wealthy from middle class? Just curious to hear what opinions people have.
Not someone who generally compares myself to others due to the whole comparison being the thief of joy, but I decided to check something out of curiosity this weekend and I was feeling a bit surprised.
Was driving through an area in the Midwest (medium sized town) and was stunned by the homes I saw. Now normally when I see a huge house, I just shrug it off as that person being wealthy and a hard worker. However, this area was full to the brim with insane houses. Every street, every other neighborhood was donning insanely large homes. I began to wonder what these people did for work. So I sat down and went down the rabbit hole to see what the owners did for work. (Jobless behavior but my curiosity got the better of me).
I was stunned to find out that there were little to no physicians in these neighborhoods. And it wasn’t just 1-2 neighborhoods. I mean 10-15 of them showed little signs of harboring physicians. The occasional one that would pop up would be a thoracic surgeon, general surgeon, or ophthalmologist.
Many of the people that lived there had small businesses they ran. Accounting firms, law firms, landscaping, construction companies, dealerships, etc. A good portion of them were also Directors or VPs of small to mid size companies I had never heard of before. They weren’t glamorous corporations by any means.
Which leads me to my question. How does your average doc get wealthy? And no I’m not talking about the guys ultra specialized who are making 600-700k+.
There are many that naively throw out the suggestion of just starting your own practice without understanding what it takes to do so. There are those that throw the vague idea of starting a business out there. But what businesses have you seen or been involved in where physicians can get to being wealthy instead of upper middle class?
How does a physician reach that tier that puts them at high upper class/ wealthy from middle class? Just curious to hear what opinions people have.
