349-Want to Get Rich and Live a Comfortable Life? You Should Seriously Consider Being a Doctor as Your Path! Interview with Peter Steinberg
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 17 June 2016
⏱️ 68 minutes
🧾️ Download transcript
Summary
I've previously stated that I don't understand why anyone would go into the field of medicine as a way of getting rich.
I understand why people would want to do it because it fits their goals and personality and sense of calling, but I've always felt that it's a bad move financially.
Even though you can earn a high income, there are a lot of disadvantages to the career!
Well, my guest on today's show disagrees with me!
He's a practicing physician and he thinks I'm dramatically misrepresenting the financial potential and payoff of medicine.
I think you'll enjoy our debate!
Joshua
- Peter Steinberg's professional site: www.bidmc.org/kidneystone
- Support RPF on Patreon! www.RadicalPersonalFinance.com/Patron
Transcript
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| 0:00.0 | Welcome to Radical Personal Finance, the show dedicated to providing you with the knowledge, |
| 0:05.1 | skills, insight and encouragement you need to live a rich and meaningful life now while |
| 0:10.5 | building a plan for financial freedom in 10 years or less. |
| 0:13.0 | My guest today is Peter Steinberg and Peter you wrote me an email is how we got to this |
| 0:17.8 | interview and you said Joshua I've been a long time listener and we've talked |
| 0:21.2 | on some Q&A shows but you don't think that being a doctor |
| 0:26.7 | as a primary means of building wealth is a good idea and I begged a difference so |
| 0:31.6 | I'm going to come on and argue my case and I thought it sounded like fun and so we've got you here to argue that that going into the practice of medicine is going to be a fantastic move from a financial perspective is that is that accurate so far |
| 0:45.8 | That's totally accurate now I am hard on on |
| 0:51.8 | I guess physicians and I probably shouldn't be I guess it's just having worked |
| 0:55.5 | with so many face-to-face that had nothing but complaints to say about about how |
| 1:01.6 | little money they were making now compared to how they used to be and |
| 1:04.3 | how difficult their life was. |
| 1:06.1 | Perhaps I've gained a jaded view of the profession. |
| 1:09.4 | But I invite you to introduce yourself, tell us a little bit about your professional background |
| 1:14.0 | and begin to make the case to us about why people should consider medicine especially from a |
| 1:18.5 | financial perspective. |
| 1:19.5 | Sure. |
| 1:22.0 | So my name is Peter Steinberg. I'm a practicing urologist in the Boston area and I've been in practice for about five to six years now. |
| 1:33.3 | So I'm not just a doy-eyed new pup out there, |
| 1:38.0 | but I'm also not one of the cynical, |
| 1:40.5 | you know, 60, 65 year old positions |
... |
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