Plan B/Exit Strategy?

[EthylMethylMan]

I read a lot of doom and gloom on this forum. Some of it seems a bit overblown, but there's a fair bit that seems frighteningly feasible. A lot of people around here talk about exit strategies. I was wondering if some of you could share your rainy day ideas? Urgent care seems like a popular one, but I'm hoping there are more options.

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[gamerEMdoc]

Personally if I was ever injured permanently or couldnt practice EM, I really would enjoy Palliative Care. Wouldnt be lucrative but at that point Id have disability income as well.
Otherwise UC will likely be where I go when I want to retire for the most part, but dont want to stop entirely and fully dip into my retirement money. That or just work a few ED shifts here and there at a sleepy place.

As for a backup if EM totally melts down in the next 10-15 years, I dont have one. I dont see it totally melting down. I make 100k more now than many of the salaries I was looking at a decade ago in my region of the country. If all of a sudden I made 100k less, Id be pissed, but it would be exactly what I expected to make when I went into the field. I wouldnt leave. And I dont see that happening anyway. At least not in more rural America. For all the doom and gloom about over saturation, my region of the country still has a hard time recruiting physicians.

 

[Dochopeful13]

Personally if I was ever injured permanently or couldnt practice EM, I really would enjoy Palliative Care. Wouldnt be lucrative but at that point Id have disability income as well.
Otherwise UC will likely be where I go when I want to retire for the most part, but dont want to stop entirely and fully dip into my retirement money. That or just work a few ED shifts here and there at a sleepy place.

As for a backup if EM totally melts down in the next 10-15 years, I dont have one. I dont see it totally melting down. I make 100k more now than many of the salaries I was looking at a decade ago in my region of the country. If all of a sudden I made 100k less, Id be pissed, but it would be exactly what I expected to make when I went into the field. I wouldnt leave. And I dont see that happening anyway. At least not in more rural America. For all the doom and gloom about over saturation, my region of the country still has a hard time recruiting physicians.

What is the doom and gloom EM is facing?

 

[namethatsmell]

What is the doom and gloom EM is facing?

Work note and turkey sammie shortages. Savage times.

 

[Brigade4Radiant]

Financial independence and investing in mutual funds

 

[bravotwozero]

Take Ramit sethi’s zero to launch course and come up with an online business as an additional revenue stream to offset potential income losses


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[Birdstrike]

I read a lot of doom and gloom on this forum. Some of it seems a bit overblown, but there's a fair bit that seems frighteningly feasible. A lot of people around here talk about exit strategies. I was wondering if some of you could share your rainy day ideas? Urgent care seems like a popular one, but I'm hoping there are more options.

There are threads on this exact thing. Rather than repeating everything I said in those threads, I’ll summarize: You can do a fellowship. I happened to do Pain (interventional). It’s worked out well for me.

 

[dchristismi]

There are actually 3 long threads on the first page alone.

To summarize my part: be frugal, pay off your debts. Live below your means.
I didn't do a fellowship, but "retired" from general EM and am now doing hospice/palliative. (And still make decent enough money. Not EM money, but still better than most Americans, with a hell of a lot less stress.)

 

[EthylMethylMan]

There are threads on this exact thing. Rather than repeating everything I said in those threads, I’ll summarize: You can do a fellowship. I happened to do Pain (interventional). It’s worked out well for me.

There are actually 3 long threads on the first page alone.

To summarize my part: be frugal, pay off your debts. Live below your means.
I didn't do a fellowship, but "retired" from general EM and am now doing hospice/palliative. (And still make decent enough money. Not EM money, but still better than most Americans, with a hell of a lot less stress.)

My bad. I did actually do searches for "plan B," "exit strategy," and "escape route," which got no results. Thanks for the input, though.

 

[GeneralVeers]

Admin, work for pharmaceuticals, telemedicine, or some other sort of healtchare consulting.

 

[Apollyon]

My bad. I did actually do searches for "plan B," "exit strategy," and "escape route," which got no results. Thanks for the input, though.

"Side gig", about halfway down the page.

 

[cyanide12345678]

I'm working on developing multiple income streams:

1) investments and long term growth on the stock market
2) i own 3 online ecommerce stores - one of them is a travel site, the travel website is really the one I'm heavily focusing on because the revenue is automated, no orders, no customer service, no fulfillment of orders etc
3) next will be real estate sooner or later, reading a lot of books on that these days. Debt free now, gotta do something with all that extra money... Plus a lot of tax benefits to being a real estate owner. Might start with a duplex at some point.
4) set up my first account for a survey company two days ago for physician surveys
5) go to dubai/qatar/kuwait or go back to pakistan. Will be paid decently for my US credentials, can easily start a clinic and see maybe 5 patients a day if i want to. Father in law may or may not be in the process of setting up a 100 bed hospital with the eventual goal of making it a tertiary hospital, so i have plenty of opportunity there as well. so i guess i can always just go back to a better more relaxing life where i don't even have to get up from the couch to get a glass of water -_-

 

[hundreddaysoff]

I read a lot of doom and gloom on this forum. Some of it seems a bit overblown, but there's a fair bit that seems frighteningly feasible. A lot of people around here talk about exit strategies. I was wondering if some of you could share your rainy day ideas? Urgent care seems like a popular one, but I'm hoping there are more options.

mooch off my wife and surf the net stay at home dad and try random startup ideas

 

[dchristismi]

Here's another long one

(My bad, I thought they were all on the first page - the side gig one is. The doom and gloom seems to be at a peak at the moment. It fluctuates but is always sort of simmering...)