Money Meets Medicine

The arrival fallacy is a concept that’s very prevalent in medicine. Coined by Tal Ben-Shahar, it refers to the illusion of happiness that we think we’ll experience when we arrive at a completed goal or achievement (spoiler: it doesn’t work like that).  In medicine in particular, this is reinforced with lots of delayed gratification and long training periods with limited free time and low pay.  We think that finally achieving the next level (whether it’s residency, fellowship, or attending, receiving a bonus, a raise, etc.) will instantly make our lives better, because we’ll have more money and more control over our schedule.  We constantly look for “the light at the end of the tunnel” to get ourselves through years of grueling assignments and shifts. But a lot of the time we reach these specific benchmarks – or, we “arrive” – and it’s not at all how we thought it would be.  Gertrude Stein was right when she said, “There’s no there, there.” How does the arrival fallacy come into play when we reach attending status and start pulling in a whole new pay grade? Let’s examine that… Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com

Have you ever thought about what legacy you’ll be leaving behind and how money plays a part in that? Lisha and I recently had a conversation with Dr. Hala Sabry, emergency medicine physician and founder of Physician Moms Group, a private online physicians community made up of over 120,000 physicians. Hala is passionate about helping women physicians fulfill their professional goals and discover the legacy they want to create – which includes building and managing wealth.  As you might imagine, we had a lot of topics to cover in our chat with Dr. Sabry. Tune in to learn all about: Dr. Sabry’s recent trip to Africa – the most time off she’s taken outside maternity leave Whether she’s always been financially savvy The way she utilized her disability insurance How she sees Attend helping doctors along their financial journey The legacy of inspiration Dr. Sabry wants to leave for future leaders Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com

Recently Lisha and I sat down with Dr. Omar Nije to talk about his experience as a doctor in finance. Dr. Nije’s perspective is unique because he’s both a physician AND a principal, but not in public education. He’s a principal at a venture capitalist firm, which is a world that most physicians I know haven’t been exposed to. Up until about 6 months ago, it was something I didn’t know much about myself. Join the conversation to learn more about: What venture capitalism is Dr. Omar’s journey from medical school to principal at a VC firm His connection to Attend, the company I co-founded His mission to create more diverse opportunities in VC Need help getting disability insurance or student loan help from a company built by doctors, for doctors?  Make sure to check out HelloAttend.com

As they say, the only constant in life is change. The same is true when it comes to the resuming of student loan payments this fall. Staying up-to-date on all the relevant information is key to effectively managing your student loans. But the student loan landscape is changing fast. So we’re here to help. Since we last spoke about student loans in July, more important updates to loan terms have been released. If you’re someone with student loans who wants to make sure you have everything in order before payments resume September 1, let’s talk about the factors you should be aware of so you’re as prepared as possible. Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com

According to studies conducted by the American Psychological Association, the number one financial stressor for households is money - personal finance. That makes talking about money with your partner a really important topic for everybody to understand.  Why is talking about money with your partner important? For alignment with your partner  To ensure you’re working towards the same goals  Personal finance is one of the top reasons for divorce Divorce is one of the biggest wealth-killers I want you to live a life of wellness, and for many people that means having the money you need and people you love to share it with.  So whether you're married or not, you should be having financial conversations with the significant other in your life.  But maybe first you need to know HOW to have this conversation. Check out this episode to learn more. Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com

Did you know that when it comes to investing, keeping it simple often leads to better returns? Keeping it simple is not just my or Lisha’s opinion - studies show that this is a more effective, sustainable way to go about investing. Why? Because it turns out that as humans, we don't like as many choices as we think we do. We take action less often when we feel overwhelmed with choices. Just think of the last time you asked your partner where they wanted to go for dinner… In fact, in a jam (yes, jam) display study on consumer habits, a display case with 24 varieties of jam received more customer traffic but ten times fewer sales than a display case featuring only 6 jams. When we have too many choices, we often don’t choose at all. Also known as: analysis paralysis.  We love talking about the psychology of investing, so let’s dive into some of those principles and how simplicity can help you when it comes to real-life application. In this episode, we discuss:Examples of analysis paralysis (7:25) How Lisha operates psychologically when it comes to investing (10:06) A great way to start when you’re new to investing (15:49) Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com

For those who have no idea what to do with the upcoming student loan payments restarting, and the millions who will need to enroll in a student loan plan… are you overwhelmed yet? Understandably, a lot of physicians are anxious about how loan terms are going to roll out, what it means for their finances, and how it will affect their lives. As we know, keeping up with the recent loan changes is an ongoing process, and it can be hard to keep all the details straight. Plus, how do we know the advice we’re getting actually applies to our specific loan scenario? Help is here. Today, we’re going to share some of the specific loan scenarios we’ve encountered when we help physicians manage their finances through Attend.  Tune in for step-by-step instructions on how to figure out your best options for student loan repayment. Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com

Whether you’re planning to take a vacation this summer or in the near future, you may be looking for some financially savvy ways to prepare. Lucky for you, one of the secrets of life that I've learned is how to incorporate intentional planning when it comes to personal finances and summer vacation.  That’s what this week’s Money Meets Medicine podcast is all about. Just a few of the topics we’ll cover include: 3 ways vacation gives us psychological benefits How to be intentional about taking vacation Saving for vacation in a way that works for you Tips for making travel more manageable Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com

We interview Will Flanary, who is perhaps better known by his comedic stage name: Dr. Glaucomflecken. Just a few of the awesome topics we cover in our conversation: Charitable giving Will’s battle with testicular cancer and the time he had a cardiac arrest His thoughts on physician side gigs and residents unionizing … he even shares his biggest personal finance mistake Click here to download the Attend App for Doctors. Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com

July is the time of year when those in the medical field experience the most transition – whether to your next level of training, moving to a new institution for fellowship or residency, or taking your first job as an attending. It can be overwhelming. Make sure you’re equipped with the right questions to ask to make your job transition less intimidating and stressful. Here are a few financial considerations to make when you’re starting a job.  Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com