Doctors are the toughest to define professionals! You find doctors earning as little as Rs. 200,000 a year to doctors earning Rs. 200,000 a day. It may be some exaggeration, but it is not far away from the truth.

However not all doctors are rich, handsome and  managing their moneys well. Also contrary to public opinion not all doctors are rich and successful…

Why do doctors not become wealthy?

a. they start earning late: unlike their other classmates doctors start earning late – mostly in their early 30s.

b. Most of them start with a big educational loan

c. Not all of them are business oriented: they do not know marginal costing, variable costing, pricing as per the paying power of the client, not increasing the fees,….

d. the people in their own practice need to invest a lot in the practice. Of course no AUM based compensation adviser talks about this, but that is a different post.

e. Mis trust of doctors on the financial services industry is obvious (and not misplaced at all)…so they end up trusting their banker (after all was he not good enough to give me a loan when I needed it!). This makes them sitting ducks for complicated products which combine investing with insurance.

f. late career start, late marriage, and late children – puts a lot of pressure to fund education, housing, etc.

the list could just go on….


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