Can I Actually Construct Passive Earnings If I’m a Full-Time Surgeon?
This can be a actual query somebody requested me at PIMDCON, and I figured it was value answering right here. If one particular person had the query, chances are high others do too.
In the event you’re studying this and also you’re a full-time surgeon (or heart specialist, or truthfully some other busy doctor), the concept of constructing passive revenue would possibly really feel fully unrealistic. Between surgical procedures, clinic, charting, and all the opposite issues crowding your schedule, how may you presumably add another factor to your plate?
I get it. I’ve been there.
Now, I do know what you’re considering: “You’re an anesthesiologist, not a surgeon.” And perhaps that outdated stereotype of the anesthesiologist doing crossword puzzles crosses your thoughts.
However as an OB anesthesiologist, I had loads of days the place I used to be operating nonstop between rooms, barely discovering time to eat lunch. Add in 24-hour shifts and attempting to get better between them, and I felt like I had zero free time. I undoubtedly didn’t really feel like I may tackle one thing new like investing in actual property or beginning a enterprise.
Nonetheless, one query stored coming again to me:
“Is that this it? Is that this actually how my life goes to search for the subsequent 20 or 30 years?”
In the event you’ve ever requested your self that, you’re not alone. And the excellent news is, it doesn’t need to be that method.
Let’s Redefine Passive Earnings
When folks hear “passive revenue,” they normally image themselves lounging on a seaside, drink in hand, whereas cash simply exhibits up of their checking account.
That’s not what I’m speaking about.
For physicians, passive revenue means creating further revenue streams that don’t require placing in additional scientific hours. It’s about constructing one thing as soon as—an funding, a enterprise, a course, a rental property—and having it proceed to generate revenue over time.
It’s actually extra like scalable revenue. And sure, it takes some effort up entrance.
However is it value it?
Completely.
However I’m a Full-Time Surgeon. Do I Even Have Time?
Completely truthful query. The reply is sure… however you need to be intentional.
You’ve already completed laborious issues. You made it by way of med college, residency, and fellowship. You’ve managed the stress, made robust calls, and discovered how you can operate by way of chaos. Those self same expertise might be utilized to constructing revenue exterior of medication.
After I began my very own journey, I didn’t stop my job. I didn’t return to high school. I didn’t magically discover extra hours in my day.
Right here’s what I did:
- Used my commute time to hearken to podcasts and audiobooks about finance and actual property
- Learn one weblog submit or e-book chapter every day, usually throughout lunch
- Took a web based actual property course on weekends
Reached out to folks already doing the issues I needed to be taught
These steps have been small, however they created compounding outcomes over time.
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Begin With Why
In the event you’re studying this far, you’re in all probability looking for one thing extra—extra time, extra freedom, extra flexibility to observe medication in a method that aligns together with your values.
And right here’s the reality: constructing passive revenue offers you choices.
- Wish to cease working nights and weekends?
- Wish to scale back your hours and spend extra time with your loved ones?
- Wish to say no to a poisonous contract or step away from admin overload?
- Wish to do mission work or lastly take that month-long trip?
All of this turns into potential. However you need to begin with readability.
Ask your self:
- What sort of life do I need to dwell?
- Why does that life matter to me?
- How a lot passive revenue would I must assist that life-style?
When you’re clear on these solutions, your subsequent steps change into a lot simpler to see.
The Shift That Modified Every thing for Me
The lightbulb second for me was realizing that I didn’t have to attend till retirement to dwell my splendid life. I may begin designing it whereas nonetheless practising medication.
Constructing passive revenue isn’t about leaving medication behind, except that’s what you actually need. It’s about giving your self the liberty to maintain practising since you select to—not as a result of you need to.
That modified every thing for me.
I nonetheless love medication (regardless that I’m at present taking a break). However I additionally love being house for dinner with my children. I really like constructing companies. And I really like serving to different physicians uncover they will have a distinct type of life, one which doesn’t revolve round RVUs and administrative crimson tape.
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So… Can You Actually Do This?
Let me make it as clear as potential:
Sure. You may construct passive revenue even should you’re a full-time surgeon.
You don’t must know all of the solutions proper now. You don’t need to dive in unexpectedly. However you do want to begin.
Begin studying. Begin connecting with individuals who’ve completed what you need to do. Begin carving out simply half-hour every week to concentrate on constructing the life you really need.
You’ve already come this far. You completely have what it takes to take the subsequent step.
P.S. In the event you’re uncertain the place to start, that’s precisely why I began Passive Earnings MD. We have free assets, programs, and an entire neighborhood of physicians who’re doing this collectively. Take a look at Passive Actual Property Academy, or attain out immediately. I might love to assist nonetheless I can.
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Peter Kim, MD is the founding father of Passive Earnings MD, the creator of Passive Actual Property Academy, and affords weekly schooling by way of his Monday podcast, the Passive Earnings MD Podcast. Be a part of our neighborhood on the Passive Earnings Doc Fb Group.
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