From all the observing, talking to, investing for, and addressing doctors, here are some observations. Of the younger lot and the older lot:

1. They start earning late: Doctors, especially if they do specialisation and super specialisation start earning late. So when the money comes in, they start spending like there is no tomorrow. Why this happens seems to be simple – they are copying their friends and making up for lost time. It also comes from a lot of repression – and therefore a sense of ‘entitlement’. I have not spent for so long, my friends have, NOW I AM entitled to do some heavy spending….

2. Most doctors spend time with doctors, and in internships. During this ‘cocooned’ period of life they have no exposure to money. So they think money, well, is money! They have no clue about savings account, keeping detailed accounting records, investments, etc.

3. Nuclear scientists and doctors have one thing in common: disdain for ‘smaller’ things in life called finance! The doctors are in a complete denial mode about money. They make a virtue about being simple, but pine for the ‘more expensive things’. This creates a huge gap in their ‘mental’ image of themselves and the real image of themselves!

4. Doctors hate patients who ‘read up’ on Google and tell the doctors things about medicine….but do you see doctors doing that with finance? It is an awesome sight! Apart from this they talk to fellow doctors, take their advice, and lose very heavily. God bless them!

5. The doctors are the easiest prey for the bank Relationship Managers! As well as IFAs who can easily talk a doctor into buying anything. All they have to say is ‘Doctor you are so intelligent….do you still need to read these boring documents’ – bingo they sign on the dotted line….

6. Surgeons take fast decisions, physicians keep analysing…well for investing, decision making has to be thorough, but quick. So you need some physician qualities and some surgeon qualities too!

7. They of course do not know about insurance too….hey that is another post na?


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  1. One more thing is that doctors are under-paid in India compared to doctors in other developed countries while if we have see MBA guy he is paid almost at par with there counterpart in any other developed countries.I have seen MBAs getting 30-40lakh package easily for half the amount of work and time spent in studies compared to a doctor who has to put 15yr to do super-specialization with hard work and studies to earn similar amount.
    This situation is leading to shifting of many newcomer MBBS doc going for MBA as it is much easier to get than an MD plus you get more money for less work.

  2. very cool post. i agree that the more you remain out of the job market especially because you are studying in parent financed Loonnnng degrees, you disdain personal finance.

  3. i observe ignorance of right information about personal finance also with many with finance and accounts higher education , and engineering education.

  4. other problem in indian context is that many doctors generate a lot of cash & are thus easy to be misled into schemes to ‘hide’ the same…

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