Weekly Rounds: Issue #008

Week of 6/22/2025

Author

Wealth Rounds
June 23, 2025 • Estimated Reading Time: 4 minutes

Financial independence requires strategic thinking beyond clinical expertise. 💼 This week, we're examining critical financial milestones that shape our careers—from optimizing your paycheck to safeguarding patient data from tech startups. I've also included insights on forced retirement planning and essential knowledge for practice ownership. These tools have transformed my own financial journey and can accelerate yours too. 📈

📝 Want to Reach FIRE Sooner? Start With Your Paycheck

Source: Physician on FIRE
Published: June 20, 2025

Achieving FIRE requires maximizing income despite healthcare's compensation constraints. Strategic negotiation and understanding market value are essential when discussing salary. Increasing your paycheck by 10-20% can significantly accelerate financial independence. Focus on controllable aspects of compensation to reach your retirement goals faster.

💰 How a Billion-Dollar Startup Tried to Access My Entire Patient List: A Cautionary Tale for Every Physician

Source: InvestingDoc
Published: June 22nd, 2025

A physician reveals how a trusted healthcare tech vendor attempted to access personal patient data from their multi-location practice's EMR system. This ethical breach serves as a critical warning for practice owners to remain vigilant about third-party access to electronic health records.

📝 Are You Moving Toward or Away from Financial Independence?

Source: WCI
Published: June 23, 2025

Financial independence is defined by financial metrics, not age. Success requires strategic planning and consistent progress toward your target number. Focus on building investments and reducing debt to determine if you're advancing toward or retreating from your goal of financial freedom.

👴 Forced Retirement: Where Do Physicians Go When They Get Sick?

Source: Physician on FIRE
Published: June 21, 2025

Physicians facing health challenges often experience forced retirement, leaving them without adequate support systems. Many struggle with identity loss and financial strain when transitioning from caregiver to patient. Medical institutions should develop comprehensive programs to assist doctors through these difficult career transitions and health crises.

🏥 10 Things Every Doctor Must Know When Starting Their Medical Practice

Source: InvestingDoc
Published: June 22nd, 2025

Establishing a medical practice is both liberating and costly. This article shares essential insights for physicians building their own practice, from signing leases to hiring staff. These practical lessons guide doctors in creating and maintaining a successful healthcare business.

As we navigate our unique journeys in medicine and finance, remember that proactive planning—whether protecting patient data, preparing for unexpected career changes, or optimizing your income—creates resilience. Financial independence isn't just about numbers; it's about creating options for ourselves amid healthcare's uncertainties. I hope these insights serve you well in both your practice and portfolio. 💼