Episode 23. Eric Tait, MD MBA -- Altering your financial mindset due to changes in medicine.

Episode 23 Doctor Money Matters.

Welcome to another Doctor Money Matters episode. In this episode I talk with Eric Tait, MD, MBA, an internist and asset manager who started his own investment firm. We discuss why physicians need to achieve financial independence. Dr. Tait’s has a very well thought out perspective on the future of medicine and we talk about how he separated his financial success from the practice of medicine.

Eric was influenced by his work for an insurance company while obtaining his MBA. This experience helped him realize how physicians are viewed as just another labor cost center. As physicians we generally don’t think about how we are viewed by the people who pay us. (Remember for most of us it’s not the patients who pay.) He then realized he had to become financially independent as soon as possible and developed a systematic approach to achieving this. We do this when doing a procedure or reaching a diagnosis and I think its valuable in the investment world also.

Ultimately he chose to use real estate to achieve his goal of financial independence but he talks about how he analyzed different asset classes and arrived at this decision.

We also briefly talk about his views on cryptocurrency and then how his fund works.

Finally we discuss some of the successes and mistakes he has made as an investor.

It’s great to see fellow physicians taking charge of their own financial future rather than having it handed to them.

As always the discussion on this show is for your education and entertainment only and is not personalized investment advice. Please do your own diligence prior to investing in anything.

I want to thank Dr. Tait for being my guest on this episode of Doctor Money Matters. I hope he inspired you to analyze your own mindset about your investments and your financial future as a healthcare professional. Ultimately, I will still lean towards simple investment approaches but I enjoy learning about different options.

Eric’s company can be found at Vernoville.com and he just started his own podcast recently called The Physician’s Road. Please be sure to check it out.

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