The Money Blog

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Physicians need to ask the “dumb” questions to gain financial security

Feb 10, 2022

Everyone thought I was crazy. My preceptors and fellow residents shook their heads and laughed.

“That doesn’t make sense.”

“What’s the rush?”

But I didn’t laugh. I was broke and stressed about money.

With three young children and my wife years away from completing her own residency, I was in a rush to pay off our $300,000 in loans.

My accountant didn’t laugh either. He thought it was a great idea.

I incorporated it before my first day of practice.

Then using dividends, I rapidly paid back those loans.

And it all started with the “dumb” question I asked my accountant.

The questions you don’t ask, you don’t get answers to.

As physicians, we are intellectually minded, competitive, and perfectionists.

These traits can propel us to great heights in our careers but can limit our ability to ask “dumb” questions.

It isn’t easy to ask hard questions or the ones that make us self-conscious, but they are so crucial to personal and professional growth.

The next time you have a question lurking in the back of your mind, challenge yourself to ask it.

Life isn’t paint-by-number. Be courageous and get the whole picture.