Thread by @olsonplanner

Most physicians go from broke to a significant salary overnight.

It feels like a win.

But for many, it’s overwhelming.

Let’s talk about why doctors struggle with money.

Even the smart ones.

Step 1:

Spend your 20s buried in books and maybe burnout.

Step 2:

Spend your late 20s and early 30s making $60K working 80 hours a week.

Step 3:

Suddenly make $300K+ and think you deserve to “live a little”

This is the trap.

Let’s be honest.

Most physicians start 10+ years behind everyone else financially:

No savings
Massive debt
No investing experience
No time

So when the attending paychecks hit, the pressure to catch up fast is real.

The first enemy: Lifestyle inflation

They want the car.
They want the house.
They want the vacation.
They feel like they’ve earned it.

And they probably have.

But without a plan, lifestyle eats the raise before wealth ever has a chance.

The second enemy: No financial education

They’re trained to diagnose rare diseases, not optimize a Roth IRA.

So they get advice from:

Random colleagues

Insurance bros with fancy suits

Reddit

The results vary WIDELY.

The third enemy: Decision fatigue

Physicians are mentally maxed out.

Seeing patients.
Charting.
Reading labs.
Staying compliant.

By the time they get home, nobody wants to make more damn decisions.

So money stuff gets kicked down the road.

Let’s be clear:

Physicians aren’t bad with money because they’re dumb.

They may be bad with money if they’re inordinately busy, untrained, and human.

And who isn't those things?

They don’t need shame.

They need a roadmap.

Here’s what that roadmap should include:

- A budget that doesn’t feel like punishment

- Automated saving and investing

- Clear guardrails on spending

- A debt plan that doesn’t require a spreadsheet PhD

- Someone to call when questions pop up

No one gets rich from income alone.

They get rich by:

- Keeping the gap between earning and spending wide

- Putting money to work every month

- Saying no to shiny, emotional purchases

- Avoiding “get rich slow” scams disguised as “investments”

Physicians can build wealth faster than 99% of people.

But only if they:

- Delay gratification a little longer
- Automate their financial life
- Get the right help early

Because there’s no point making $400K if it’s all leaking out the back.

If you’re a physician and you feel behind, you’re not broken.

You’re just running a race no one trained you for.

The good news?

You’re one solid financial system away from being miles ahead.

Build it now.