The Diminishing Return of Working More

The podcast explores the concept of diminishing returns in the context of physicians working extra shifts to earn more money. It questions whether the increased income is always worth the trade-offs in work-life balance and personal well-being. The hosts share personal anecdotes, including one host's experience with burnout from overworking and the other's decision to forgo moonlighting due to tax implications and time constraints. They discuss how marginal tax rates affect the actual take-home pay from extra work, referencing Vicki Robin's book "Your Money or Your Life" to emphasize the importance of valuing one's time. The hosts also touch on alternative ways for doctors to make money outside of traditional clinical work. The episode concludes with a Q&A segment addressing how to teach children about financial concepts.