Why [Too Many] Physician Colleagues Don’t Get Rich?

Posted on July 29, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

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Filed under: "Ask-an-Advisor", Ask a Doctor, Career Development, Experts Invited, finance, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Touring with Marcinko | Tagged: , , , , , , , , , , , , , , , , , , , | Comments Off on Why [Too Many] Physician Colleagues Don’t Get Rich?

PHYSICIAN NET WORTH: Personalized Projections

Posted on September 21, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

HOW DO YOU RANK – DOCTOR?

By Dr. David Edward Marcinko MBA MEd CMP™

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SPONSOR: http://www.MarcinkoAssociates.com

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Once the value of all personal assets and liabilities is known, net worth can be determined with the following formula: Net worth = assets minus liabilities. Obviously, higher is better.

CITE: https://www.r2library.com/Resource

In The Millionaire Next Door, Thomas H. Stanley, PhD, and William H. Danko give the following benchmark for net worth accumulation. Although conservative for physicians of a past generation, it may be more applicable in the future because of current managed care environment. Here is the guide: Multiple your age by your annual pre-tax income from all sources; except inheritances, and then divide by ten.

Example:

As an HMO pediatrician, Dr. Curtis earned $ 90,000 last year. So, if she is 35, her net worth should be at least $ 315,000.

How do you get to that point? In a word, consume less and save more. Stanley and Danko found that the typical millionaire set aside 15 percent of earned income annually and has enough invested to survive 10 years, at current income levels if he stopped working.

Question: If Dr. Curtis lost her job tomorrow, how long could she pay herself the same salary? Could you?

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MEDICAL SCHOOLS: Why They Don’t Teach Business and How it’s Costing Doctors?

Posted on March 26, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

SPONSOR: http://www.MarcinkoAssociates.com

[THE MILLION DOLLAR MISTAKE]

By Curtis G. Graham MD

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The fact that every physician in private medical practice, without a business education, leaves approximately a million dollars on the table and is unaware of it is well known to business experts who work with medical doctors experiencing financial difficulties.

Business experts such as Dan S. Kennedy, Peter Drucker, Michael Gerber, Maxwell Maltz, Neil Baum, William Hanson, Huss and Coleman, Steven Hacker, Thomas Stanley, Chris Hurn, Napoleon Hill, and Dave Ramsey, among others, understand the financial problems faced by medical practices and how to solve them.

READ HERE: https://www.kevinmd.com/2023/01/the-million-dollar-mistake-why-medical-schools-dont-teach-business-and-how-its-costing-physicians.html

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ORDER: https://www.amazon.com/Business-Medical-Practice-Transformational-Doctors/dp/0826105750/ref=sr_1_9?ie=UTF8&qid=1448163039&sr=8-9&keywords=david+marcinko

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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ORDER: https://www.routledge.com/Risk-Management-Liability-Insurance-and-Asset-Protection-Strategies-for/Marcinko-Hetico/p/book/9781498725989

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