Thread by @imacuriosguy

Good Morning. This is a bit long thread. For my young doctors. #MedTwitter
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1) If you're planning to take up or are in this profession to make crazy money, you are in a wrong place.
2) You will eventually make enough to sustain a comfortable, debt free life provided you live within your means and invest wisely...

3) No loans except your home loan or to start your hospital. Buy a car you can afford without a loan.
4) Credit cards are like friends. Take their obligation judiciously cos ultimately you have to pay, mostly with interest if you miss the deadline...

5) Your credit score is one all the lenders will first look at. Keep it high and improve it constantly.
6) Knowledge is power only if it's applied wisely. Arm yourselves with financial planning and knowledge..

7) Learn all the laws applicable to doctors and be on its right side.
8) Ignorance of a law is deemed as breaking the law.
9) Personal finance is as important as your professional knowledge. Learn and improve.

0) I have made scores of mistakes while investing. You will also. Learn and avoid a repeat.
11) Learn basic accounting. Learn Tally or equivalent. Make all the vouchers in Tally yourself. Don't hire an accountant...

12) Finish all your entries by the end of every month, latest by the end of the quarter.
13) Your CA will finalize your account after correcting your mistakes...

14) Except your home and hospital building, everything is a liability. The fancy car you aspire or owe also. So is you costly watch, bags and shoes.
15) Plan your advance tax installments in advance for the whole year and provisioning for them.
16) Same applies to savings...

17) Savings are as important as your earnings. Not buying during a 50% discount sale = 100% savings.
18) Resources are finite and limited. So is your working life...

19) Never take your income, patients and your health for granted. The only thing to protect you and your family is your savings and investment.
20) Wealth creation is your ultimate target and it's not an instant process unless you are born super rich or inherit a fortune...

21) You can do all of you stay healthy and long enough. Investment in your health is the third pillar of a fulfilling life...

22) Drastically cut down your time from multiple sm and invest in yourself. Professional knowledge, financial knowledge, General knowledge, arts,hobbies, reading, social work , there are so many things to do.

Thank you for reading. Please don't feel constrained if you don't agree since these thoughts are very personal and there are multiple ways to live a happy life.