Introduction to Personal Finance for Physicians
Introduction to Physician Personal Finance
Laying the Groundwork for Financial Security
In this opening module, Dr. Peter B. Richman — an experienced physician educator with formal finance training — shares his personal journey into financial literacy, beginning with early lessons learned from stock-picking mistakes. You'll explore the powerful and often underestimated impact of inflation on retirement nest eggs, as well as the true costs of maintaining quality of life during retirement and covering elderly healthcare expenses.
This session also highlights the rising costs of college education for children, stressing the importance of early planning. You'll be introduced to fundamental concepts of managing investment risk, a cornerstone of any successful long-term financial strategy. Finally, Dr. Richman discusses the potential role of financial advisors — examining both the costs and the possible benefits physicians should weigh before seeking professional financial help.
This foundational video sets the stage for a smarter, more deliberate financial path — built by a physician, for physicians.
Introduction to Physician Finance This opening session covers the essential building blocks of financial planning for physicians, with a focus on real-world challenges like inflation, rising living costs, and the need for disciplined saving. You'll learn how much you may need to save to maintain financial independence and why starting early matters. This module lays the groundwork for understanding long-term financial security in a physician’s career, without the jargon or complexity.