This is a good article by WCI on the discussion of picking individual stocks/Bitcoin etc. If I want more money, as a 1099, I can simply pick up a couple more patients (with how fast I can see patients right now, it’s about at least ~400 dollars into my bank account for each hour of work). Whether we do it at work or during our off time, we are all hustling. The strategy is finding the most efficient way with least risk. I’ll highlight the part I find most relevant.
“While I suppose it is entirely possible that you may be smarter or work harder than a mutual/hedge/pension fund management team, the question you should be asking yourself is whether that is really the best use of your time. Let's say by applying your smarts and hard work to your portfolio that you can boost the returns on your $1 Million portfolio by 1% per year. That works out to be an extra $10,000. I don't know exactly what that will work out to be on an hourly rate for you, but the likelihood that this is the best place to spend extra time and effort as a physician seems very low to me. I can think of three ways that are likely to have a higher return for your time and effort:
# 1 Work more in or on your practice
Most docs make $100-300 an hour. $10,000/$300 = 33 hours. For less than one additional hour a week of work, you could generate more of a return on your time.”
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