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Docs Outside The Box

Money Trap #3: Getting paid less than your coworkers #301

Docs Outside The Box

Dr. Nii Darko

Career, Education, Doctor, Medicine, Careers, Job, Business, Health & Fitness, Finance, Investing, Premed, Black, Money, Lifestyle, Mindset

4.9516 Ratings

🗓️ 25 July 2022

⏱️ 78 minutes

🧾️ Download transcript

Summary

SEND US A TEXT MESSAGE!!! Let Drs. Nii & Renee know what you think about the show! Nii and Renée continue the conversation on money traps that doctors fall into with Money Trap #3: Doctors not negotiating their worth and not maximizing or diversifying their income. Things to expect in this episode: Doctors trading time for dollars and finding that sweet spot in pay and lifestyleActive versus passive incomeRenée’s experience negotiating her contract vs. using an attorneyMedsca...

Transcript

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0:00.0

What's good, everyone? This is Docs Outside the Box. We are fusing money, medicine, and pop culture. Listen, I am your host, Dr. Neat. I am also joined by Dr. Renee.

0:15.5

That's with an accent. Ig.

0:18.7

So for all of our French-speaking francofiles and Haitian-speaking Creole people.

0:22.7

No francoffiles. It's fricophone. Frankophone. Whatever it is, that's a little lesson for y'all. A-gu. How you say it again? A-gu. A-saint-gu. A-sante-gu. Right? I said it right. Yeah. all the French speaking people, all the Creole speaking people, whatever, they're like, yo, oh my God, they're shaking their head.

0:45.2

Well, listen, I see you're in my studio. You rocking my lights and all that stuff on. My studio.

0:51.0

That studio. And you are enjoying yourself. You got the kids to sleep. We are recording almost at 11 o'clock at night. And we got a lot to talk about. We got a lot of talk about today. So let's jump right into it. So listen, we are going to be covering money traps. Right now we are on money trap number three, which is related to income. Basically, doctors not asking

1:13.2

for the right amount of income. Doctors not asking for or negotiating for what they're really worth.

1:20.2

Doctors who are just so focused on going to work and what we do and what we call trading time

1:26.4

for dollars. And that's all they do

1:28.7

that by the time they get to being old and they realize hey like what I could do in my 30s I can't

1:33.5

do in my 50s I can't be waking up at you know four in a morning to patch or a suit or some you know

1:39.2

some drunk suit guy's eyelid or something like that at you know at the at the age of 50 or 55, I don't want to

1:45.3

get out of my bed and do this, you know? So we're going to be talking about income, how to

1:50.7

maximize the amount of income and, you know, the mistakes that docs make and, you know,

1:57.0

how not negotiating can have some long-term effects. Yeah. So, yeah.

2:01.4

I'll also going to be talking about, I think we should also cover income in terms of not

2:08.5

diversifying your income, you know, and really looking at the fact that, yes, you are

2:14.1

trading time for dollars, but you literally only have one stream of income.

2:19.6

Yeah, man.

2:20.4

It's, there's a lot.

2:22.1

There's a lot.

2:22.5

So listen, I always encourage everybody, listen, text us at 833-230-2860.

...

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