Here we go again. Another survey documenting causes and rates of physician burnout.
This time it's from Medscape.
What are the most common causes you ask?
#1: Too many burueacratic tasks
#2: Spending too many hours at work
#3: Present and future impact of Obamacare
#4: Feeling like just a cog in the wheel
#5: Income not high enough
Worst age group for burnout: Ages 46-55.
None of these are surprising. Just about every physician that I speak to--whether socially or during their financial strategy consultation--says the same thing.
Just the other day I was at a get together with one of my GI friends who had invited a few other docs I'd never met before.
One of the them asked, "So what do you do?"
"I'm a financial planner who helps other doctors achieve financial freedom. I'm also board certified in emergency medicine, but I don't work in the medical dungeon anymore."
"You're smart! I want to do something else too" he replied.
That's what I get more than 90% of the time when I talk to doctors. Problem is that right after they say that, they crawl back into their caves and continue moping around and being subject to the same abuses over and over again.
I feel like saying "So you're telling me that you don't like what you do or that you want to do something else, or that you're burned out, but then you go back and do the same thing over again?"
I vaguely recall that's the definition of insanity isn't it? Doing the same thing over and over again and expecting a different result?
And then years later they wonder "Why am I still working?"
Which is when they're burned out and complaining about all the reasons for their failure.
Doctors like to complain a lot...and I mean A LOT...about their financial problems. The burnout surveys reinforce this behavior.
Of course none of these surveys nor most physicians I speak to have any plan to actually take action and do a damn thing about it.
So what's the solution?
No one talks about the practical way to get past all this. Usually it's some psychobabble about how we need to be kinder, gentler people, or do yoga, or whatever.
C'mon. Who's kiddin' who here?
Reason #5 is THE answer.
And if you deny this, I'm not sure what planet you live on.
Show me the money and I'll show you how quickly my burnout melts away--like throwing ice in a raging fire.
That's the attitude doctors should take.
It's not greed. It's the truth!
Now that's assuming that you actually use the money in a way that lessens your burnout.
Instead money is a taboo topic. You know you're not getting paid enough, so go do something about it.
What do I mean by this?
Pay YOURSELF. And when you've paid yourself enough by building up a big ass retirement portfolio, all of these top five causes of burnout will be gone.
What's the first step? Get a financial and investment plan in place. Start now by setting up your Financial Strategy Consultation here:
Do it and move closer to erasing all the reasons for burnout.
Don't do it and continue to suffer.