Details
February 25, 2025
7:00PM - 8:00PM EST
Turning High Income into High Net Worth
Live WPS Zoom Open to All OSMA Members
Building Wealth as a Physician
An overview of budgeting, saving, and debt repayment prioritization.
Physicians face a very different financial landscape than 50 or even 10 years ago. While physicians enjoy a higher annual salary than the average American, we also face many barriers to building wealth such as high student loan debt, late career and savings starts, and personal or societal pressures to appear successful. Despite high income, building wealth is not possible without financial discipline and clear path forward. This lecture aims to empower the physician with basic financial knowledge to create a long-term financial plan. We will discuss the power of compound interest, compare different budgeting methods, examine the concept of financial independence, explain retirement and other tax advantaged accounts in the context of both employee and self-employed income, define investment vehicles such as stocks, bonds, mutual funds, and commodities, contrast debt repayment strategies, and discuss balancing debt repayment vs savings goals.
About Our Presenter, Dr. Laurel Barr
Dr. Barr is a practicing Emergency Medicine Physician in Central Ohio. She is an active member of the Ohio State Medical Association (OSMA) and the American Medical Association (AMA) and an at Large Member of the Women’s Physician Section (WPS) of the OSMA. She has an interest in empowering physicians through financial education. She is also an active member of the American College of Emergency Physicians (ACEP) where she has provided insight into personal finance through contributions to Practice Essentials of Emergency Medicine and Critical Decisions in Emergency Medicine.