WCI #133: What Physicians Need to Know About Contract Negotiation
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 21 November 2019
⏱️ 60 minutes
🧾️ Download transcript
Summary
A contract is just a vehicle to set expectations. But understanding those expectations is very important. We discuss what you need to know about negotiating a contract in this episode. See the full transcription at https://www.whitecoatinvestor.com/classic-blog. A contract discusses the physician's time and job responsibilities. Along with how they will be compensated, what benefits are provided, and what happens when that employer-employee relationship is terminated. Having a solid understanding of all these things will make a difference in your efforts to build wealth. Not to mention the benefit of negotiating that compensation so you ensure you are paid what you are worth. In this episode I interview Jon Appino from Contract Diagnostics, a long time advertiser that has helped many WCI readers and listeners better understand their contracts and negotiate better compensation packages. This is not an expensive service, a few hundred dollars. Considering how much money we are talking about, especially if it becomes a long-term job, a couple of hundred bucks is money well-spent. Listen to this episode to learn more about contracts, who is qualified to review one, find out what you are really worth, what you can negotiate in a contract, and whether or not you should hire someone to help with this process.
No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For a fraction of the price of hiring a professional financial planner, the Fire Your Financial Advisor online course will take you from feeling anxious and having no plan to having a written financial plan you can follow the rest of your investing career as a professional and a retiree. This course is the material that should have been taught to you in college, medical school, or residency but never was. Fire Your Financial Advisor also has a version eligible for CME credit. Get your financial life in order today. Go to https://www.whitecoatinvestor.com/courses to sign up. You can do this and The White Coat Investor can help.
The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!
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Transcript
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| 0:00.0 | This is the White Coat Investor Podcast, where we help those who wear the white coat get a fair shake on Wall Street. |
| 0:06.0 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
| 0:12.0 | Here is your host, Dr. Jim Dolly. |
| 0:15.0 | Welcome to White Coat Investor Podcast |
| 0:20.0 | number 133, physician contract negotiation. I just got back from traveling. I've |
| 0:25.6 | given seven presentations in the last three days before I'm recording this. I was |
| 0:30.4 | out at the passive income MD conference in LA. |
| 0:33.4 | It was great to see a lot of you there. |
| 0:35.0 | And then I went to the American College of Emergency |
| 0:36.8 | of Emergency Physicians Scientific Assembly. |
| 0:38.8 | It was also wonderful to meet hundreds of you there as well. |
| 0:41.8 | I'll be talking a little bit more about that in next week's |
| 0:43.9 | podcast, but it's good to be back home and it's good to be on the air making another |
| 0:48.2 | whitecoat investor podcast. No more waiting through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs or checking in daily with online forums trying to gain a financial education the way the hobbyists do. |
| 1:00.0 | For a fraction of the price of hiring a professional financial planner, the Fire Your Financial |
| 1:05.3 | Advisor online course will take you from feeling anxious and having no plan to having a written |
| 1:10.4 | financial plan, you can follow the rest of your investing career as a professional |
| 1:14.3 | and a retiree. This course is the material that should have been taught to you in college, |
| 1:18.7 | medical school, a residency, but never was. Fire your financial advisor also has a version eligible for |
| 1:24.0 | CME credit. Get your financial life in order today. Go to whitecode |
| 1:27.6 | investor.com slash courses to sign up. You can do this and the white code |
| 1:32.0 | investor can help. |
... |
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