Resident Finance Discussion

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Resident Finance Discussion

As my residency draws to a close I have been reflecting on all that I’ve learned in the past five years (in no small part to prepare to begin on my Board Certification). It occurs to me, however, that one area in my training has been severely lacking: personal finance.

Over the last several months, I have personally sought out resources to educate myself on the subject, including areas like student loan refinancing, investing for retirement, and disability, life and malpractice insurance. While books like The White Coat Investor are certainly good starting points for any trainee, having a mentor with real-world successes and failures under their belt is invaluable.

As the first Resident Board Member of the WOA, I’ve learned so much about the inner workings of the Association and its dedication to enhancing education. As many WOA Members are involved in education in some capacity, I am asking for your help on behalf of the next generation of orthopaedic surgeons. Whether it be a formal lecture at didactics or just a casual conversation while waiting on anesthesia, the personal and professional impact of talking about finances with your trainees can be significant.

At the end of the day, each individual must take these matters into their own hands. But, with your encouragement, I believe Residents will make this more of a priority earlier in their careers. Achieving financial freedom from student loans and avoiding poor spending habits may even help reduce work-related stress thereby reducing rates of burnout, benefitting surgeons and patients alike.

Thank you,
Logan Koehler, MD
William Beaumont Army Medical Center
Texas Tech Health Science Center - El Paso
El Paso, TX
koehler.loga[email protected]

 

DISCLAIMER: Statements of fact and opinion are the responsibility of the authors alone and do not imply an opinion or endorsement on the part of the officers or the members of WOA unless such opinion or endorsement is specifically stated. Materials may be reproduced only if Touches and the Western Orthopaedic Association are credited.

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