Tuesday, October 23, 2018
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Can Physicians Really Make Money Doing Surveys?

physician surveys
physician surveys

As a physician, I am always looking to supplement my income. Surveys are a great way to do that on your off time. Initially, it was hard to find surveys that paid well and/or catered toward physicians. Over the years, I have compiled a nice list of physician survey sites and their specific contact information. Some physician surveys can pay up to $250 + for an hour of your time. That is more than what most doctors make per hour. They key is to register for as many survey sites as possible and fill out your complete profile. This way you get surveys you qualify for and get more of them. Will this make you rich? Of course, not.   But, it can be a significant source of supplemental income. So, take a look below, register and get started today so you can…

*pay off you student loans faster

*pay off bills quicker

*save more for retirement

*start you kids’ college savings plan

*take that vacation you always wanted to take

*much, much more

There are several companies and websites that allow you to do surveys from the comfort of your home or even from your smart phone.  Check out the full post of physician surveys.

Ronny Abraham, MD

Andy’s SAHD Journey: Student to Full Time Daddy to Travel Consultant

In my mind, I was going to get all these projects done around the house. Yard work, painting, clean the garage, it was going to be awesome!

Boy, was I in for an awakening, lol.

Lets just say, I never drank coffee until my son was born.

Vans Custom Shoes: Unboxing and Review


Custom made Just For You!  How awesome is it to hear that?  How often do we get something that is CUSTOM just for us?  For me, not often.  With 3 kids running around, I can’t even get alone time on the toilet, let alone something custom-made just for me.

Well DMD Lifestyle is proud to partner with the VANS Shoe Company, but specifically, I want to highlight their Custom Shoe Program. 

The Best Way to Buy a Car

physician wealth services buying a car personal finance doctor

Whenever I meet with a client for the first time to create their financial plan, the topic of buying a car always comes up. My clients usually want to know how much can they afford to spend on a car, and what is the best way to buy a car. They want to feel like they’re getting a great value for their money while purchasing something they really want.

Plus, since I work with physician families, many of them want to know if they can buy a new car, how much they should spend, and how they should go about getting the best deal with the limited amount of time that they have.

Many of my clients drove old or run down cars throughout their training and want to upgrade their vehicles now that they’re fully fledged physicians with real physician incomes.

So, because this is such a common question, I thought it would be best to break down my method for buying a car. After using this method to buy my own vehicle, I’m confident it’s the right way to buy a car to ensure you get the best value without sacrificing your precious time.


This step probably isn’t that surprising, but it’s important to know what you can afford to spend. I recommend my clients pay cash for their cars if at all possible unless for some particular reason there’s an extra incentive if you finance it at an extremely low rate.


Everyone has a different reason for buying a car. For example, when I bought my Tundra, I purchased it specifically because my wife was pregnant with our first child and I valued safety and size over MPG.


I prefer to buy new cars. I know this is controversial advice in the personal finance space, but to me, it was an investment in my family’s safety and future, something I consider absolutely priceless.


My clients are physicians and so they don’t want to spend an entire Saturday test driving cars, negotiating, and dealing with salesmen at the car dealership. That’s why I recommend a little something I call negotiating from the couch.

To learn my step by step method of negotiating from the couch, and how I used it to buy a brand new truck with less than one hour spent at the dealership, check out the full post on Physician Wealth Services.




The younger physicians I help with their financial planning often have questions regarding saving for college for their children. So, I thought it would be helpful to write a post to explain what a 529 college savings plan is and if it’s even worth opening.

Like everything else in financial planning, the answer to this question will really depend on your current financial situation and the goals and objectives that you want to achieve.

WHAT IS A 529?

A 529 is a savings account designed for higher education (college).

Yup, that’s it.

You put money in, watch it grow over the next 18 or so years, withdraw from the account during the time your child is in college. Genius, right?

I could give you more details with fancy words, of course, but that is the most simplistic definition. It really is just that easy.


Investing in a 529 makes the most sense when you have all of your other priorities on track.

You can find out if you’re on track by asking yourself a few questions:

Do you know how much money comes in (earned income) and how much money goes out (your spending) every month?
Are you fully saving for your retirement in your 403b/401k and maxing out your IRA’s?
Do you have an adequate emergency fund set up and fully funded?

Saving towards a 529 plan also makes sense when you have a reliable and significant amount of money to contribute and you can contribute the money early in your child’s life.

It really doesn’t make sense to set up a 529 plan for your freshman in high school. The earnings growth potential is quite limited with such a short investment time horizon. Plus, the tax benefits will more than likely not outweigh locking your funds into a 529 account. The longer the length time between now and when your child will need the funds for college, the more it makes sense to invest in a 529.


A 529 will not lower your taxes by contributing exactly it like your 401k does. There are, however, 30 or so states that give a tax deduction if you live in that state and contribute to a plan in that state, but that isn’t always the best option.

There are even more benefits to a 529 plan as well, which I explain in great detail in the full post on Physician Wealth Services. In the full post, I also share the two 529 plans I typically recommend to my clients, when you shouldn’t invest in a 529 plan, and my trick for funding my own children’s 529 plans. Check it out HERE.

SoFi – Student Loan Consolidation

SoFi Refinance

Being married to a busy professional typically comes along with student loans and tons of debt.  Friends of ours will often joke about how they would love to “roll in the dough” like [THEY THINK] we do.  What they almost always forget, is with a great job title and income typically comes an even greater debt load!

DMD Lifestyle is proud to be an affiliate partner with SoFi, who have revolutionized the world of student loan and debt consolidation.

Click here to see how much SoFi can save you on your loans!

For Whiskey Lovers – Order your whiskey online

For Whiskey Lovers

It wasn’t until I became a dad that I discovered my love of whiskey.  Being a Tennessee boy, whiskey is in my blood.  I discovered Jack Daniels in college and shortly after, began seeking out Kentucky Whiskey and Bourbon, Japanese Whiskey, and have worked hard to try whiskey from all over the world!

From one of the members of our private Facebook community, I learned that there is a whole website and community built FOR WHISKEY LOVERS!

Use our affiliate link below and shop their large collection of whiskey (and bourbons) and have it delivered right to your door!

Click here to place your Whiskey order!

To take your Whiskey drinking experience to the next level, try drinking from the Norlan Whisky Glass


Whiskey Lovers Explorer's Club

Gold Medal Wine Club Review and Unboxing


While the majority of the guys I hang out with love a good beer or whiskey, there are definitely times that wine is the drink of choice!

DMD Lifestyle has partnered with Gold Medal Wine Club, the best wine club on the planet. Period.  When you subscribe to one of their club memberships, you get to enjoy small-production, award-winning wines delivered right to your door!

Join the Wine of the Month Club

Use our affiliate link below (so the editors of the site can buy milk for the babies and wine for mommy and daddy) to order your award-winning wine!

Click here to Shop the Wine Shop and save up to 70%

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5 Financial Tips Every Doctor Should Know


Graduating from residency and starting your career is a busy time, but it’s also a time when you’ll experience a large income jump, when your student loans will be due, and when you’ll start to feel the pressure of lifestyle inflation.

So, although you’re busy taking care of others, don’t forget to take care of you too. Below are some ways to do just that.

While the B word seems boring and somewhat daunting for many physicians, it doesn’t have to be. There are amazing online tools that can help you analyze your spending and get your finances in order.

Being aware of your spending can help you avoid lifestyle inflation too. A good rule of thumb is to ensure your spending doesn’t increase by more than 20% in the first 3-5 years after residency.

It is extremely common for new physicians to get caught up in the lifestyle creep, so don’t let it happen to you! As someone who is married to a physician, I know it’s hard living off of a resident salary; however, it’s important to keep some perspective.

Doctors are about as goal oriented as it gets, but that doesn’t always apply when it comes to financial goals. So, spend some time thinking about your goals and major expenses coming up in the next 1, 3 and 5 years, and write them down.

While I can’t give exact investment advice, I invest in passively managed exchange traded funds, also known as index funds. Don’t fall prey to active management and advisors trying to beat the market.

If you plan on trying to get forgiveness via the PSLF program, make sure you keep up with your public student loan forgiveness employment certification form. If you aren’t going for PSLF, closely evaluate your options and analyze if refinancing your student debt makes sense.


Ultimately, now that you’ve graduated from residency, you have so much potential when it comes not only to your career, but your finances too. Take the time to make a plan for your finances, track your spending, and set strong goals, and you’ll be surprised at just how much wealth you can build in a short amount of time.

To learn more about these tips, including the best programs I recommend for budgeting and more investment tips, please check out the full post on the Physician Wealth Services blog.

4 Ways Physicians Can Escape Credit Card Debt

credit card, physician wealth services

Many medical students and residents use credit cards throughout their training to help cover their expenses, and if that’s you, you’re not alone. In fact, the average credit card debt for a U.S. household carrying a balance is over $16,000.

In addition to having debt, many Americans have more debt than savings too. If this is you, you probably realize that it’s time for a change. After all, debt prevents you from living the life you actually want and being able to reach your biggest financial goals.

(Plus, if you’re a young doctor, you likely already have significant student loan debt; credit card debt is an added burden you can live without!)

To help get started with the process, below are 4 steps you can take to escape your credit card debt once and for all.


In order to get your debt under control, you will need to start by analyzing your expenses.


There are a several ways you can reduce what you owe on your fixed expenses. (See below for more details.)


After you reduce your fixed expenses and analyze your spending, set up a budget.


Once you pay off your credit card debt, it’s important to change your outlook on money to avoid falling back into the debt trap again.

Overall, it will take extreme discipline to change your lifestyle, but it will be for the better. No one is perfect, and the mistake of accumulating debt (even though it’s a bad one) isn’t the end of the world. Good things actually will come out of this; it will just take some hard work and discipline to achieve it.

To learn more about the four steps mentioned above, including more detailed explanations about how to best cut expenses and set up a budget, please check out the full post on the Physician Wealth Services blog.

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