All doctors practice ‘evidence based medicine’. Well almost all. It is the basis for professional decision-making, and a focus of most journal articles that doctors read. Using solid evidence to practice good medicine has been a foundation of clinical practice for decades.
Doctors who do not follow ‘evidence based medicine’ run the risk of malpractice suits. Many investors too follow ‘evidence based investing’. They do track their portfolio – either by doing it themselves (invest in learning) or by getting a good financial planner and a good investment manager.
Why do we not practice ‘evidence based living’ or do we?
I still see doctors smoke. I see doctors who are over weight. I see doctors who never exercise. I see doctors who eat junk.
I see investment managers invest only in bank fixed deposits.
In other ways,
we fail to make evidence-based choices when it comes to our personal lives.
We allow our mental health to suffer.
We keep comparing ourselves to others (what we tell our patients and friends not to do).
We are reluctant to ask for help when we need it.
We also think seeking medical help for our mental problems is shameful.
We suffer from burnout, depression, divorce, and in some cases suicide, in high numbers.
We work long hours under stress, and struggle to find the work-life balance that will keep us and our families happy.
We borrow money to buy things we do not need to impress people who do not matter with money we hope to earn in the future!
Why do we not have evidence based living? Why, indeed we do not have evidence based investing?
Can we look at our pathetic post tax post inflation returns on the debt side of our portfolio?
Can we look at the poor IRR on our real estate investments?
Can we compare it to the good returns on stocks and mutual funds?
Can we see what a mess we make of our investment?
Can we cut down our weight?
Can we start exercising?
Can we get our diet in place?
We ignore the evidence in regards to our finances!! AS doctors we live far beyond our real affordable lifestyles. There is nothing to prove that by spending more, we will be more happy, we still tend to spend more. Significantly more than what we can afford. Doctors buy clinics, houses, cars, – all way beyond their affordable budgets. You cannot waste money trying to buy happiness or fulfillment! We splurge on fancy homes, cars, and luxury items that we feel we deserve (ha did we not spend so much time getting a difficult degree?), not realizing that incomes may actually go down in the future.
So learn to cook your own meals, exercise, get good hobbies – this is the minimum you could do as a doctor. See a dietician, get a physical exercise coach, get to some nice evidence based living.
Seek happiness, and you shall find it.
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