Wednesday, October 31, 2012

Good Stuff For Doctors - Young And Not So Young

I have read a lot about how doctors struggle to pay off their college debts while paying high malpractice insurance and other costs of running a medical practice. While the incomes of medical doctors are certainly high we often don't hear a whole lot about the cost side.

Doctor's Eyes Only: Exclusive Financial Strategies for Today's Doctors and Dentists not only discusses the cost side in-depth but offers perceptive insight and valuable advice to new doctors entering medicine and to seasoned doctors who have run their own practice for years. This fascinating book is written by Tom Martin, Paul Larson and Jeff Larson who are financial advisors to doctors and dentists.

Seasoned doctors are advised how to manage risks, including malpractice, and how to avoid destroying their marriage by working long hours and long weeks at the expense of the wife and children. Important advice also is given on the importance of sharing their wealth and medical skills, both in the U.S. and around the world.

Young doctors are offered some very critical advice about what to consider when signing contracts with a medical firm or hospital after graduating and completing all requirements to enter the profession. Other important advice concerns disability insurance and how to handle cash flow to assure a secure future.

I certainly enjoyed reading this book but am sure doctors and dentists will get far more than enjoyment - they will be exposed to important financial advice for practitioners that they will receive anywhere else.