#FinanceTip: Doctors and Side Hustles
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With the ever-changing state of medicine, the increasing burden of student loan debt, and the dissatisfaction and burnout that comes along with all of it, physicians seem to be searching for alternatives or other ways to make income.

Perhaps it’s to supplement / replace their current incomes or perhaps it’s a way to transition out of medicine altogether. Either way, the notion of the “side hustle” or “side gig” seems to be growing in acceptance amongst the physician community.

To qualify as a side hustle, it must be something that you can initially start while continuing your day job as a physician.

WHY EVEN HAVE A SIDE HUSTLE?

• Make more money.
• Hedge against changes in medicine or your current job.
• Increases your bottom line to help you achieve financial independence quicker.
• Maybe it’s just something you’re passionate about and enjoy doing.

IS IT WORTH IT?

At the end of the day, that’s a personal decision. You have to figure out whether it’s worth it to you after answering the following questions amongst many others:
• How much can you make?
• What’s your time worth?
• Should you just work more at your current day job?
• Will it help you create your ideal life?
• Is it something that you’re interested in and passionate about?

Make sure your side gig has a purpose - Doctors need to have a purpose, whether it’s to come up with the next great product or to cure cancer. If having a side gig allows you to become a better doctor, then that by itself is enough of a reason to venture out. Just be sure that you’re not doing it simply because all of your coworkers are.

There might be obstacles you face while trying to pursue a side hustle as a physician, but it might be absolutely worth it.

In fact, NOW might be the perfect time to get started!

Source:
1. https://passiveincomemd.com/list-physician-side-hustles/
2. https://smartmoneymd.com/doctors-side-hustles-and-your-time/
Dr. N●●●●a S●●h and 5 others like this3 shares
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