Uncertainty seems to be everywhere. As surgeons, we never get used to it, we ALWAYS want to control everything especially in the operating room. But, if you are anything like me, that feeling of wanting to control everything spills over into everyday life.
Do we ever think about the uncertainty of the stock market or our lack of control over it? Do we do anything about it, other than watch what it does and wonder?
In surgery, if we happen to encounter uncontrolled bleeding, we do something to control it, even if it’s just a finger and then we get the necessary help to gain real control of the situation. Yet, many of us haven’t taken the same approach with our money.
The stock market is downward for all kinds of reasons explained on every news show and in every economic article. Here is one talking about how tensions between Russia and Ukraine affect the markets.
In this video this guy clearly states that it’s hard to tell what’s going on, he says be patient, as investors should be, and buy the dip. It’s easier to be patient when retirement is years away. That money will surely be there, right?
Let’s reflect on the financial crisis between 2008-2011 and how retirees felt when they had to begin withdrawing from their retirement accounts. It must have been pretty scary to see the amount of money you saved for years drop precipitously and have absolutely no control.
As a surgeon you are trained to be in control, however, you are not in control of your money if you only put it in an envelope and give it to the 401K strangers to manage.
At the very least, have more than one planned income stream for your retirement. The wealthiest people use real estate, a tangible asset, as part of their portfolios. Usually, it is real estate that provides positive cash flow.
Surgeons are some of the most intelligent people I know, but we do not work at getting wealthy; we leave that to someone else.
It’s time to stop. Treat your money like you would a patient and control the risk.
Take control of your money, start building generational wealth and invest in things important to you. You can make a difference in areas outside of the operating room that impact you, your family, and the community you serve.
Partner with people you trust, who understand where you are and where you are trying to go.
Mine has been a rewarding journey. I started with people I trusted who understood how I wanted to build my legacy.
The opportunities are endless and exciting.
If you’re interested in exploring ideas on where to start and who to take along to help as you build wealth that you control, give me a call. I’ve started working with female surgeons who, just like me, didn’t realize that there is so much more than just working for money.
Your money should work for you..
Let’s take control of our wealth, futures, and legacies together. Schedule a Call.
