"With the increasing attrition of physicians, the increasing
number of physicians losing their private medical practices
for financial reasons, and the reported increase of physicians
being fired from their employment positions, there must
exist an undercurrent of frustration and anger
infiltrating medical careers of most physicians that
fosters those events."
Perhaps we physicians have become way too complacent and over confident that we thrive in an environment where medical careers remain omnificent and invulnerable to governmental and societal domination? This graveyard serious thought becomes more clear daily to those who have already been sucked into these circumstances unknowingly and are now suffering the consequences that they never considered possible.
Shrugging your shoulders about this devastating situation as it continues to saddle physicians around us with shattered lives and careers, should compel every physician to get prepared for even more threatening events that are inevitably headed at us.
Physicians are quick to rationalize their beliefs in a manner like that of fighter pilots in WWII. "It's going to be one of the other pilots that will be shot down, certainly not me." Such thinking leads to no preparation being made to avoid the potential catastrophe, before rescue becomes impossible.
My grandfather's advice to me in high school still frames my mind, "Always have a backup plan." It took me many years to really get the real juice from the advice. And I continue to have a strong belief in that approach to major decisions in my life. It is not difficult to create a plan B, or to activate it if necessary. Such a plan is primarily a plan that equates your strongest interests in life with your personal skills and talents.
It's more important that you already have a very good idea of what you could do in another career, than to waste your time in the details of exactly what would have to occur to accomplish the change. For example, in college as a pre-med I truly had no idea if I would ever be accepted into medical school. I thought I would be, but that's guessing. I became a chemistry major while in the premed program. Industrial chemistry would have been a good job in those days. It was also something that added to my knowledge in medical school later.
When you began private medical practice business, you likely recognized that you had had no business education and no marketing education, but still believed that because so many other medical doctors had done it successfully that you could also. A few years later you realized that it would have been very helpful to have had a business education. A few years after that you saw that your medical practice business income had stagnated and had no idea how to solve that problem.
What you were never told in pre-med nor in medical school, was anything about the value of what a formal business education could be for your career and medical practice business. You knew that a medical practice business was a certified business in all aspects. Did you ever wonder why you were never informed about how to actually run a medical practice business profitably---the business and marketing tools you would have had to resolve all those financial issues?
What you never knew was that you would never be able to reach your maximum potential as a practicing physician or in your medial career as a result of the lack of an academic business education. The same is true even today--98% of graduates who enter private medical practice are in the same boat.
Do you know the success and failure statistics concerning the people who start small businesses all over this country (like medical practice business)? The statistics show that 95% of small businesses fail in the first five years. All primarily because of no adequate business knowledge.
Why wouldn't all medical schools not only teach you medicine but all teach you how to handle any kind of medical practice management in a highly successful and profitable manner, thus permitting you to being able to avoid burnout, loss of your medical practice, and provide a full college education of all your kids, fund your retirement plan.
Without having the advantages of a medical business education (marketing is part of it) you are locked into a career bucket full of holes. Now you know why having a plan B could have helped you in your medical life.
What is the one issue that today keeps physicians in private medical practice, while slowly disintegrating private medical practice?
If you aren't making enough income to live a lifestyle appropriate to medical doctor's education level, value to society, and eradicating disease across the world, it's a major tragedy in
healthcare today.
Money--being able to make enough income in practice to survive in a lower middle class environment--which I call "professional poverty."
This tragedy today is not limited to private medical practice business alone. It extends to quality of healthcare, physician attrition, and the complete takeover of healthcare as well as the medical profession by our government now in the process.
What could be a plan B for all physicians?
Assuming that we are now talking about physicians in, or were in, private medical practice in the USA. One that includes both young and just starting medical practice business and the older more mellowed ones like myself that are so old you can already see through them, regardless of specialty or number of years in practice, there is one Plan B that is especially adaptable to physicians who would prefer to continuing medical practice while activating and profiting from their Plan B at the same time.
Since you are now thinking that there is never any job or long term moonlighting effort that you know of that would possibly fit into the timeline of a private practice, without spending 20 out of 24 hours a day doing both and away from family. Well, there is one that I know of and has worked for me quite well.
It is a sideline job that requires very little time to do and one that you can do from home or the office. You can have family members do it with you, or for you. It takes about 30 minutes in the morning to do and maybe 30 minutes in the evening. There are only two requirements, have a computer and access to the Internet.
Before you entangle yourself in an epiphany guessing what it is, I want you to think of this as something that can be done for the rest of your life, even after retiring from medical practice. What amazes me is the fact that this money making method has been kept well hidden from physicians. But first, I want to educate you quickly about the process, explain it, and wait for you to stake a claim to the opportunities it offers.
Stepping into pure and simple economics...
When someone says the words "stock market," it usually draws a response that ignites the many narratives that tend to dislodge our common sense, create a last-mile headache, or think that the person lost their sense of reality. Everyone knows that the stock market is stacked against the retail investor (the little guys like you and me).
The stock market is stacked against you, unless you find the path around the reasons it is made that way. You can do that without reading all the stock market books about how to invest in the stock market, without having to be a millionaire, or even close to that money-pile, and without becoming a stock market broker.
The stock market is one side, and the retail investor is the other. But what no one tells you about is what's called the "Financial Publishing Industry." It is essentially composed of stock market brokers who have become sick and tired of earning more money for the wealthy, and prefer to educate and teach the common folks how to use the stock market safely, avoid losing lots of money, and provide for small investors a means of investing in the stock market with a far better and reliable
way to invest.
How it all works...
There are over 50 separate and independent groups that cater to the little investors. Each has a name and a lead broker. Each group is made up of from 1 to 20 stock market brokers or other stock market investor experts. I have worked with and filtered through about 35 of them and over time have selected about 3 or 4 groups to trade with and rely upon for stock market investing advice.
I selected these groups because they do the most teaching about investing and how to use the stock market, how they treat their investors and the support systems they have in place to help anyone at anytime, and how intelligent and trustworthy they have been. The groups that I use now are transparent about investing, consistently enable clients to profit in at least 8 of 10 trades regardless of the investing program you are using and that they offer to investors.
Each group has a broker that specializes in one or two areas of the stock market. Each of the brokers in that group have developed investment programs for clients to use for investing in his or her specialty area of trading--various ways to approach the market with a profitable outcome. Each group has a huge bank of computers costing millions that run the filtering algorithms that provide the best stock data for investing, Mon. through Fri.
The thing that makes it easily usable by small, even large, investors is the fact that each broker provides a "boiler-plate" method for investing. Brokers that work outside of Wall Street in these groups are legally held to the same laws as the Wall Street and stock exchanges abide by. They are not permitted to tell you what stock to invest in, because of new trader-clients protection laws brought on by prior court cases against stock broker fraudulent activities.
These groups of brokers advisors get around the law by not telling investors what stocks to invest in by sending out to investors the details and information on the stocks they know are excellent profit makers. By email and SMS they tell each investor the exact data to use and place in the several blanks on the forms found on each of the stock exchanges (of your choice) to create an order
for a trade.
Depending on the investing program you use, the data on more than one stock is sent at one time----it works by recommendations, not directing clients what to invest in. I get emails with recommendations daily and newsletter information on those stocks almost daily. The data on the recommended stocks are sent the day before so that you have a chance to place a trade when the stock market opens up in NYC at 9 AM ET (and closes at 4 PM ET).
You can open your computer, click open the stock exchange you use, click to the order page, take the email and copy the data sent to you into the several proper blanks, and click the submit button. A 15-20 minute process. Then drive to your office and practice medicine all day. Then, get home and open the computer and see how your stocks are doing, or what the advice might be for tomorrows market strategies.
It doesn't end there. When the broker sees by their computer algorithm that it's time to exit the trade, you get the email telling you exactly how to do that. In essence, you can be absolutely ignorant about investing and earn money by doing this.
The cost of these investing programs varies from $600 to $9000 per year, per program--depending on the group you use.
- THE OXFORD CLUB--most expensive but highest quality advice
- WEALTHPRESS--RobBooker.com Group--my favorite--least
expensive and by far best teaching and advice - AGORA FINANCIAL--excellent large group
There are over 50 stock exchanges but the top ten most people know about. I like TDAmeritrade, Schwab--Schwab bought out TDAmeritrade last year but both still function independently.
There are other stock experts working with Rob Booker, like Markay Latimer, self taught, millionaire--part of Rob Booker's Group. She didn't have money enough to go to medical school so went to stock trading. She is luckier than she knows.
COMMENTS...
This process can be taught to your wife and teenagers quickly and easily. Many teenagers are now investing in the stock market, making money for college, and making money while in college as many are doing today.
For physicians that are retired from medical practice and ended up with no retirement plan as I did, this advice and information is a life saver. That's particularly important here because you can start investing with $100 or less in any of these investment programs. I stumbled onto this area of stock market investing accidentally after I failed in real estate investing.
My hope is that hundreds of physicians will at least try out these systems that will improve their incomes and offer life long means of income that they never expected.
For the youngest physicians this information can provide a significant improvement in income for years to come and well beyond the income from medical practice. I believe it is one incredible means of defending ourselves from the government mandates and fee restrictions.
----Professional Probe----
Most serious consequences happen when you aren't
looking. So why is the medical profession any different?
Two of the most prevalent problems facing those in the
medical profession for decades in our nation has been
the realization that a physician seldom is able to manifest all of their original expectations for their medical practice career and
that physicians have no idea how to manage their medical
practice business well enough to earn the income and living status
appropriate to their education and medical skills.
"The perfect solution to both of these issues has been and always will be what a business education furnishes them lifelong."
"One little mistake. What's the problem?
Think... Business Education!"
Articles©2013-2022/CGG INVESTMENTS LLC. All rights reserved. #86, 3-16-22
