ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 55: Lifestyle Creep-ER

Have you experienced lifestyle creep? It’s almost impossible to answer “no” to that. When your income goes up, it’s natural to spend more on goods or services. After all, that’s the #1 incentive to work in the first place, for most – to be able to spend those earnings on things that provide enjoyment.

But ER Docs are susceptible to a more extreme version of lifestyle creep than most other working professionals. One that can have a devastating impact on long-term financial success. So in this episode, we explain why that is the case and look at the phenomenon from a financial and psychological standpoint.

Topics Discussed:     
  • When lifestyle creep happens.
  • How to avoid spending more even though you are earning more.
  • How to ensure your assets outlive you.
  • What’s unique about ER Docs' income.
  • Why spending shouldn’t change as income does.
  • How to make an informed decision on your spending.

Resources Mentioned:  


planning, financial planning, ER doctor, doctors, tax, savings,

Scott Wisniewski, EA