I’m really excited to announce that my book, Money Matters in Medicine, is officially published!
Why did I write a book?
Ever since I started this blog 3+ years ago, I’ve always had the idea in my head to write a book. As many of you who have followed my journey know, the first thing that Selenid and I did when we recognized our lack of financial well-being was to improve our education. And the first thing we did to begin our financial education was to start reading books together.
There are innumerable amazing personal finance books out there. And many of these helped us along the way – like many of these ones.
But, similar to my feeling that something was missing in the physician finance blog space, I was looking for something more from a personal finance book.
I wanted a book that was authentic, down-to-earth, direct, relatable, and, most importantly, an actionable and step-by-step guide to immediately getting on the path to financial freedom.
And this is exactly what I believe that I created with my book, Money Matters in Medicine!
My auto-review of Money Matters in Medicine
I think the book’s publisher, Springer, does a great job of distilling down the essence of the book here:
This book addresses both the philosophical and more tangible actionable components of attaining financial well-being as a medical professional. In an engaging, narrative-driven format, it relays the importance of managing one’s finances―even with the high salary of a doctor.
Money Matters in Medicine is an accessible, invaluable resource for early-career physicians who wish to incorporate intelligent money management skills in their development as medical professionals. Chapters include information on becoming financially literate, how to approach insurance, creating a savings rate, and the top mistakes most doctors make with their money. Though there are many financial self-help books in the market, this book stands out, as it rests on philosophies and core standards held by those in the medical community. It presents the strategies to promote financial well-being and ultimately help doctors become more effective physicians with financial freedom.
The book includes easy-to-understand guidelines and intuitive steps for readers to take massive action in their lives to improve their financial well-being.
I think that sums it up really well!
What’s covered in the book?
I wanted this book to be completely comprehensive. But not in a way that is overwhelming.
In the book, I cover every topic that must be a part pf your financial plan on the way to improved financial well-being and freedom. And I don’t cover anything that is ancillary or distracting to these goals.
So you can rest assured that everything you need to be successful is covered in the booK!
Here are all of the topics covered in Money Matters in Medicine:
- Why do doctors need to know about personal finance?
- Top mistakes that doctors make with their money
- Becoming a financially literate physician
- What is your why?
- Protecting yourself is the first step
- Learn to keep score
- Harvesting net worth from our income starts with a budget
- Dealing with our biggest liabilities
- Securing your nest egg in 5 steps
- Investing your money the right way
- Invest in the right places
- Spending is the key to your wealth
- Increasing your clinical and non-clinical compensation
- How doctors can successfully invest in real estate
- A primer on taxes
- Putting your personal financial plan together
How long is the book?
I wrote this book with length in mind. In the end, Money Matters in Medicine is only 115 pages long!
This is hands-down one of the shortest, most compact books on this topic that you will find in your bookstore.
And I did this on purpose.
Because doctors are busy. Our work is busy. And when we are not at work, our focus should be on our families, friends, hobbies, and relaxation. From knowing this firsthand, my goal was to create a concise guide including only the most important things that you really need to do to reach financial freedom. And I didn’t waste a single word!
This actually become a brief point of contention with the publisher who initially wanted a longer book. Until I explained to them what I was doing.
When Selenid and I started reading, our goal was to read 10 pages each day. That was what we could realistically do. If you do that with Money Matters in Medicine, you will be well on your way to financial freedom in less than 2 weeks!
My promise to you
This book will change your life. Because it is all of the stuff that I used to change my life. And it worked.
I’ve said it many times before. But I came out of training in the worst financial position of anyone in medicine that I have yet met. I was burned out with student debt of $500k, credit card debt, no savings, no investments, and no clue with a horrible money mindset.
So, if I can do it, so can you.
I promise that when you finish this book, you will be ready to immediately improve your financial well-being. I also promise that in one year, you will be able to increase your net worth substantially and will have put yourself on the path to financial freedom in 10 or less years simply by implementing the strategies that I teach.
If not, I want you to let me know!
Is Money Matters in Medicine really worth it?
Well, I wouldn’t have written it if I didn’t think so!
In all seriousness, there is an amazing amount of information out there regarding personal finance. And a lot of it is great.
So, you can do what I did. And sift through all of that content deciding what is correct and worthwhile and what is not. Or you can subscribe to my blog and read each daily post for years.
However, feedback from many doctors and my own experience show the importance and necessity of having a sharper knife that can cut through to the core of the issue and generate immediate, massive, life-changing action.
And this book is that sharp knife!
Is Money Matters in Medicine for you?
If you are a doctor or professional looking to improve your financial and overall well-being, then yes!
I’d be honored to have you read my book and even more honored to hear what you think about it. You can find the book online, in bookstores, or even at your next medical conference at the Springer table!