I have had the opportunity to interview thousands of doctors. And there is one common theme that I continually see no matter how successful or unsuccessful their practice is. That one common theme is that doctors seem to hit, what I call, the ten-year wall.
Two specific things seem to happen when the doctor has been in practice for a decade: first, they hit a mental challenge. They realize that their income is not going to increase, and if it does, they realize they will have to work harder and longer, and really who wants to do that? At the same time most doctors are just like the average person, their lifestyle rises to meet their level of income. Although they may be living a lifestyle that's greater than the average person, one realizes that you cannot relax without suffering the lifestyle. We've all heard the term, 'Life is like a Treadmill'. Mentally, this is an extreme challenge. Putting your life on autopilot every day, doing the same things over and over again, day in day out, just becomes mentally draining.
The second thing that happens after approximately 10 years on the job is the physical demands start to affect doctors. According to the Illinois WorkNet Center (2011), dentists for example, are constantly repeating the same movements, standing and sitting throughout the day bending and twisting their bodies. The continually working with small objects with her hands has to stay nimble and loose. But after about 10 years, it seems that all this repetitive movement starts to take its toll and most doctors cut back to a four-day work week, not because they're so independently wealthy but because of the physical demands on their body don't allow them to work as long. In questionnaires, a cohort of dentists reported high perceived physical demands whilst experiencing low to moderate presence of musculoskeletal disorders.
(linkoping University, 2011). Various attempts to document high levels of physical demand has been made through S-EMG and PEO observations. The studies showed a moderate connection between physical demands and complaints of the shoulder, neck and upper extremities whilst complaints measured with inclinometers correlated with self-perceived demands. The cohort is followed longitudinally with questionnaires in order workability. In order to increase knowledge of importance of organizational rationalalisations within dentistry for dentists work load.
But the truth of the matter is, that with the income size of a typical Doctor, whether it's a contest, chiropractor, anesthesiologists or a general practitioner, and a simple solid strategic financial plan, the average Dr. could retire financially secure in 10 years. In my book, Six Steps to Permanent Personal and Professional Financial Independence, I outline exactly how we have shown thousands of business owners and doctors how to set up their Family Bank in order to successfully retire and at least have the choice of being able
to retire financially independent without sacrificing lifestyle demands.
Doctors and business owners, do not let time pass without at least looking into the secrets of how the family bank can help you achieve the financial security that every person is looking for. After all how many of you could say that the American dream is possible only after one decade.
Call 801-898-9091 and ask for your free copy of the family bank DVD and of free financial profile, which allows CFG consulting to build a customized strategic financial plan that
allows you to retire in 10 years.
Click here to go to our website www.cunninghamfinancial.com
Reference: Illinois WorkNet Center (2011). Healthcare. http://www.illinoisworknet.com/vos_portal/Industry/en/Home/HealthCare/default.htm?occStatus=OP&occType=demands&occText=Dentists&jobId=&jobText=&occId=100298