I was recently talking to a group of doctors and some of them were cribbing about how they do not have enough cash flow. For a layman this might come as a shock because they feel overcharged every time they step into a clinic…Here are the reasons some which the docs said, some mine: 1. […]
Doctors can create wealth. A lot of wealth. However, it may or may not happen from their earnings alone. Earnings make you Rich. The journey from being Rich (earning well) to being Wealthy (having various sources of income) is not easy. Not to say it is difficult. However it requires effort. It can happen only […]
There are a few professions where the professionals are expected to earn less. If they earn more, there is jealousy, and almost an accusing tone from other members of society! These professions are teachers, doctors (I mean all types of medical doctors), and priests. People like to ‘respect’ a teacher TILL they conform to […]
Doctors normally start their practice and the money starts coming in – first in trickles and then as a flood. Over enthusiastic accountants and ignorant doctors are a dangerous combination – they keep the doctor’s income low so that lesser tax can be paid. Suddenly if the doctor wants to set up a bigger practice, […]
Why doctors need to maintain accounts… Doctors are almost mortally scared of accounts and accountants. They love money, but hate accounting – especially the details. Hey Doc, understanding a balance sheet does not mean you need to know HOW to make it. After all to enjoy an omlette you need not lay an egg! First […]
The greatest wealth in the world has not been created by inheritance – but by investing! It is only this generation that can make this comment. We are lucky to be living in times when we can make this statement. Let us take examples of Warren Buffet, Bill Gates, L N Mittal, Azim Premji, Ambani, […]