Joined June 2011
17 Photos and videos
Building an asset is one of the best ways to get ahead financially. Unfortunate, that legislation is preventing physicians from doing this.
A health system can own the hospital. You only get to operate in it. That asymmetry is written into law. Stark and the 2010 freeze on new physician-owned hospitals pushed physicians away from ownership and toward employment. You generate the cases. You create the facility revenue. The margin compounds on a balance sheet you will never control. A raise has a ceiling. Ownership compounds.
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What's the most important thing to get right when it comes to growing wealth? I would vote for maintaining a high enough savings rate and automating it.
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The importance of retiring to something rather than from something can not be understated. Without meaning in retirement it can feel like being put out to pasture. What do you plan on retiring to?
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How do you determine a reasonable salary as a physician running your own S-Corp?
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Establishing an emergency reserve is the first step towards establishing a financial future. How much do you think is the right number? 3 months income? 3 months of expenses?
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There are so many books collecting dust that could help with this. Physicians are some of the brightest people on Earth. With a little effort, I'm sure they could figure it out.
Replying to @FiSurgi
Every physician could be paid more if they tried. It’s not seeing more patients. Physicians as a whole have let the lawmakers and health systems steal from them. The physician answer? Complain and do nothing.
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Idiot proof your investing. You don't have to make it perfect but you do have to guard against your biggest risk. You.
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Kyle Lottman, CFA, CMT, CPA retweeted
We do not have a healthcare cost problem. We have a price-secrecy problem. Cost is what something takes to make. Price is what someone decided you will never be allowed to see. Kill the secrecy and the cost handles itself.
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Kyle Lottman, CFA, CMT, CPA retweeted
I spy, with my little eye, America’s newest physician-owned hospital - will go live next fall. Delivering babies - note that there are a whole lot of health systems that said this couldn’t be done. Congrats @DrLGarl @NicholeMyersDMD
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Traditional budgeting saves what remains at the end of the month. Reverse budgeting saves and invests what remains. Would you rather take what's left or prioritize saving (paying yourself first)?
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Kyle Lottman, CFA, CMT, CPA retweeted
The person taking the credit is never the person who did the work. The person who did the work is already onto the next one.
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The market used to require an MBA to be sophisticated in business. The market today only requires putting in the effort to explore all the readily available information out there without a price tag on it. YouTube, Podcasts, and books all offer the same information.
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Rent vs. Own? Everyone runs the numbers for housing. Few ever apply this to the insurance premiums they pay.
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Kyle Lottman, CFA, CMT, CPA retweeted
When we say PhyCap is a community of physicians and healthcare leaders, here's what we actually mean. Our LPs include general surgeons, orthopedic surgeons, gynecologists, ER physicians, cardiologists, radiologists, and anesthesiologists, alongside hospital administrators, medical sales leaders, and supply chain experts. That community is the foundation of PhyCap. Together, they shape how we evaluate companies, where capital gets deployed, and how we support portfolio companies. We're 20 days from final close. 👥If you're a physician or healthcare leader who wants a seat at the table, join us ahead of our June 1 final close. @DutchRojas @drslo
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Picking the market top is a great way to sound smart and risk going broke.
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If your tax rate today is the same as your tax rate tomorrow, there is not mathematical difference between a pre-tax IRA or Roth IRA. In the end, you finish with the same amount of money. Higher growth rate? Same result. Longer investment period? Same result.
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How are you protecting your assets as an Anesthesiologist? - Business structure? - How are personal assets owned? - Personal liability protection with insurance? - Business liability protection with insurance? - Creditor protection? There are a number of ways to protect what you have saved. It's critical to review it all and ensure a plan is in place.
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Risk of Ruin matters with investing. How many losses can you take in a row before your future materially changes?
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