Why the risk aversion that makes you a good doctor wrecks your finances
The same instinct that makes you a careful clinician may be the one sabotaging your financial future. Cardiologist and fiduciary financial planner Stanley Liu joins this episode to explain why physicians' deeply trained aversion to risk becomes maladaptive once it leaves the hospital. This episode is based on his article "Physician financial risk: Balancing capacity and tolerance," published on KevinMD.
You will learn why risk capacity and risk tolerance are two different variables, and why mistaking one for the other quietly drives bad financial decisions. You will hear why the physicians most at financial risk are those with low capacity and high tolerance, and why high-earning doctors with no debt sometimes stay stuck in toxic jobs they have the financial freedom to leave. You will also learn what questions a planner asks to surface the money scripts shaping your choices.
Listen if you have ever wondered whether your discomfort with financial risk is protecting you or holding you back.
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