How to Earn More Money

The podcast explores strategies for employed physicians to increase their income. It begins by addressing the easiest method: picking up extra shifts or locums work, while also emphasizing the importance of understanding the financial incentives and potential restrictions in employment agreements. Negotiating for pay raises, leveraging academic positions for FTE support, and unifying as a group to negotiate better compensation packages are also discussed. The hosts also suggest maximizing pre-tax opportunities like 403B and 457 plans to reduce taxable income. They further delve into creating 1099 income through side gigs like expert witnessing or consulting, which allows for additional deductions. Finally, real estate investments are mentioned with a warning of the complexities of achieving real estate professional status for tax benefits. The hosts conclude by encouraging listeners to question assumptions about savings rates and design a life that aligns with their values.