Practicing Medicine Because We Want To: Featuring Elisa Chiang MD PhD on Finances, Real Estate, and Physician Burnout
About the Physician:
Dr. Elizbeth Chiang, also known as Elisa, is an oculoplastic surgeon, podcaster and life coach. She works with physicians and other professionals to help them gain confidence around money and investing so that they can build their path to financial freedom while enjoying the journey along the way.
Get in touch with Dr. Chiang MD:
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Podcast: The Grow Your Wealthy Mindset Podcast
https://www.GrowYourWealthyMindset.buzzsprout.com
Be Financially Saavy:
Being a physician comes with a lot of advantages, not least of which is financial savvy. While it is true that doctors have high salaries, it is important to make wise decisions with your finances if you want to be successful in your retirement. And real estate investment can be a great way to build wealth for the future.
A physician’s financial savvy comes from the fact that they know exactly how their money is being spent. From the moment they start their practice, they are aware of their fixed expenses and income and they can plan accordingly. They also likely have a good handle on their taxes, so they can ensure they fulfill their obligations while also avoiding penalties.
With such financial literacy, they are well-equipped to think about how to invest their money in order to ensure their retirement financial security.
One great option is to consider real estate investments. Investing in residential real estate can offer great returns. It is relatively low risk, as real estate prices are largely driven by the market and are thus relatively predictable. And with the right investments, doctors can potentially make much more than the returns on investments in the stock market.
In addition to residential real estate, doctors may also consider commercial real estate investments. This type of investment offers more potential for profits because these properties can often be used to generate income. For example, they can be leased or used as vacation rentals – either of which can be beneficial to a doctor’s retirement income.
No matter which type of real estate investment a doctor chooses, they should be sure to do their homework and verify that the investment is sound. Becoming a real estate investor is a big responsibility and it’s important to understand the risks and rewards of each potential investment.
A physician’s financial savvy means they have the knowledge and insight needed to make wise investment decisions. By carefully considering their options and investing wisely, doctors can ensure they have a secure retirement and a comfortable future.