ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 261: From Residency to Riches: How to Handle Your First Attending Paycheck

Every year, thousands of new attendings experience the same shock: the overnight jump from residency income to real money. The excitement is real — but so are the risks of complacency, overspending, or simply drifting without a plan.

What you do in that first year sets the tone for everything that follows. So today, we’re breaking down the four things every new attending should focus on to build wealth with intention.

Topics Discussed   

  • How to manage sudden income growth responsibly.
  • Why lifestyle creep is the biggest early-career threat.
  • The importance of tracking your net worth and spending.
  • How to reverse-engineer your lifestyle based on goals.
  • Building a smart, balanced debt repayment plan.
  • Why “all-in” or “bare minimum” loan strategies both fail.
  • How to avoid financial distractions like risky investments.
  • The value of consistent saving and automation.

Resources Mentioned:

Tags:

 

attending physician, new doctors, personal finance, physician money, debt payoff, financial planning, physician investing, taxes, wealth management, doctor loans, income growth, lifestyle creep, ER doctor finance, physician wealth, financial strategy