Your doctor spent at least 11 years in post-secondary education to be in a position to take care of you. She probably puts in 50 to 60 hours a week or more on the job. And yet, if she doesn't have an active side hustle, she's probably been thinking about starting one.
The average indebted medical student, which is about 71% of them according to the latest AAMC survey, has around $200,000 in student loan debt when finishing medical school.
The doctor job pays the bills and then some, and can also provide the seed money for any number of unrelated pursuits.
After a lifetime of people-pleasing and achievement, your doctor wants to accomplish something more. That's where a side hustle can be invaluable.
A side hustle can allow an employed physician to open another type of retirement account, such as a solo 401(k) or SEP IRA, with earnings from the extra income.
An “encore career” is a vocation finale after one's primary career has ended. Given the amount of time and energy that goes into becoming a physician.