What’s up, you guys? Hey, thanks for watching this video. Thank you for subscribing and liking and commenting and sharing my videos. It’s been really awesome. We appreciate that. Got another video for you.
Today I wanna talk about what to invest in, and a lot of doctors are notorious for investing in the stock market and then losing money or investing in a friend’s idea or buying a huge house or something like that. And so I wanna talk to you about my philosophy on investments.
A lot of you guys watching are in college or med school or residency, and you think it doesn’t apply to you. But it does, so first I wanna say should you invest in the stock market?
Probably should put some money in there. You do all the normal (bleep). You do all the 1401-K, and you do some money in the stock market. And you buy a house, and those things are great. But they’re not gonna get you astronomical returns, and you’re not gonna make a gajillion dollars from that. And nothing’s ever gonna be that spectacular with your returns if you invest in those, and I think those are the first things that you do. But you have somebody else do that, so I guess the question is should you pick your own stocks.
This is where it starts to get down to it, so should you pick your own stocks. Should you flip houses, right? Because when you start making money as a surgeon, you’re like, “Okay, where can I (bleep)ing put this money?”
Each thing requires education. Each investment requires another level of education, and so if you’re gonna start picking your own stocks. Or you’re gonna start flipping houses. Then you have to put a lot of time and energy into those things, so now that time and energy is removed from the thing that you’ve been working on for a really, really long time, which is medicine.
The ends and outs of medicine and the possibilities inside of medicine.
My opinion is that should you invest in stock market and buy a house. They’re both yes. Should you put money in your 401-K? Probably. Although I hate that institutionalized investing stuff because it’s totally rigged against us, but anyway, you’ll make some money but not a ton.
What you need to focus on is medicine because the more time and energy you put into medicine, the more you understand that industry and the more you have an advantage of investing in that industry, okay?
I don’t necessarily mean investing in medical stocks, but if you see an opportunity at some point in medicine whether it be product or you wanna make a new product or you wanna put a deal together – you see a certain vaccination’s brand new or certain surgical device that’s new – and you wanna put a deal together with the device company at your hospital or hospital system or something like that, that’s where you start to really go above and beyond. And that’s where that time and energy you spent pays off times hundreds.
Your investments, stock market and shit, you make eight percent a year, nine percent a year. “Great, I made eight percent, nine percent a year. Big deal.” But if you can put a deal together that makes a million or 10 million, then you’re getting 10 times or 100 times your investment. And so that’s what I think is more important.
To be such an expert and put all your energy into one…your one basket. So then you can see opportunities better because if you spend all your time studying the stock market, you’re sort of good at that. You’re not gonna be that great. You’re sort of good at that, and you’re sort of good at medicine but not both. There’s one guy that was a neurologist saw the crash of 2008 coming and spent five years – I think it was five years – before that making a hedge fund and doing all this stuff. He didn’t do medicine. He’s quit medicine, so if you wanna do that, then you can do that. But he had to spend all of his time doing that.
Anyway, that’s my take on investments as a student, as a resident, as an attending. It’s all the same. I think you should take that. As a student, it’s really tough. You don’t have any money. You’re just living off these loans, so I don’t really suggest making any investments. Maybe in the stock market and stuff like that.
The more attention and effort you put into making yourself an expert, the more valuable you are. And that’s your investment. I guess that that’s the point of the video is that your number one investment should be you.
All right, you guys. I hope you liked that video. Hey, thanks for watching again. Subscribe, like, comment. Share the video. That’d be great too, and I’ll see you in the next one. Take care.
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