ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 170: The #1 Indicator of Financial Success for an ER Doc

When we sit back and really analyze the thousands of ER docs we’ve worked with and spoken to over the past 15 years, we’ve pinpointed one specific thing the financially successful have in common. Most would think high income, or even savings rate. While those may be great indicators, even those have flaws. No, this specific thing is, without fail, the best litmus test for success and we can make positive inferences without needing to evaluate any other piece of a client’s financial puzzle. You’ll probably never guess what it is.

On today’s episode, we’ll discuss this specific indicator of financial success and the nuances of it. Ask yourself, “Is this specific indicator part of my financial plan?”

   

Topics Discussed:   
  • The commonality of our most successful ER doc clients.
  • What a brokerage account is.
  • The value of using a brokerage account effectively.
  • The key to effective investing.
  • The main culprits in ineffective investing.
  • The biggest derailer to any financial plan.
  • What we can learn from a survey of 10,000 American millionaires.
  • The value of planning and consistency.

Resources Mentioned:

Tags

successful investing, investing, tax deferral, brokerage account, effective investing, ER docs, Emergency medicine, retirement planning,

by 
Scott Wisniewski, EA