Why do doctors have a bad rap when it comes to investing? In this episode, I’ll address the relatively common thought that doctors tend to be poor investors and invest more often in “hair-brained schemes” than most people. We’ll be unpacking the reasoning (good and bad) behind this stigma, where doctors tend to get caught up, and practical ways to avoid poor investments.
Listen in as I explain the Dunning Kruger effect, as well as how it impacts people who are making investment decisions. You’ll learn key ways to avoid falling prey to this effect, what to watch out for with new offers and opportunities, the pros and cons of different types of investments, and more.
What You’ll Learn In Today’s Episode:
- The common way doctors are viewed as investors and why.
- What the Dunning Kruger effect is and why it’s so important to be aware of.
- Key areas of investing where this effect manifests itself.
- Important things to know about investment liquidity.
- Different types of investments and their pros and cons.
- Stress-adjusted return and how it relates to your investments.
- How to mitigate the risk involved in a practice sale.
- One of the most reliable ways to build wealth (in my opinion).
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