Money Mistakes Woman Doctors Make [Podcast]

Katherine has helped hundreds of doctors improve their financial situations over the years. Throughout the course of her career, she has discovered that woman doctors need some extra help with their financial future, due to the top 5 money mistakes they are making, influenced by fear.*

Some of the most common fears that revolve around money for women are:

  • Fear of running out of money

  • Fear of supporting themselves, if they don't marry

  • Fear that they are not smart enough to learn about finance

When fear is driving the decisions female doctors are making about money, there are 5 common problems that may arise:

1.    Female doctors making less than male doctors, even when accounting for the same specialties and time out for children.

2.    Women are less likely to have us review their contracts in advance.

3.    Many woman doctors either remain single or marry a person who isn’t making as much money—the female then becomes the chief family breadwinner, yet doesn’t get involved in the family finances.

4.    Women doctors have not caught up to the new financial normal: doctors in general will be working harder, making less money and paying more in taxes than they used to. There is no margin for error for today’s women doctors. If you make a financial mistake, it can take you years to recover.

5.    Some women doctors tend to trust their colleagues, or online pundits more than a qualified professional.  

Summary: This is your money, you worked hard for it so make sure you protect it and keep as much of it as you can!

You can also check out the posting here, featured on Brown Emergency Medicine, or on iTunes.

You can also check out the posting here, featured on Brown Emergency Medicine, or on iTunes.

*The information presented herein is a hypothetical example provided for illustrative purposes only and should not be used as the basis for making investment decisions.