Orange on Green: Doctoring His Own Finances PDF Print E-mail
Written by Tom and Brad Cunningham   
Wednesday, 25 August 2010 04:29

Orange on Green: Doctoring His Own Finances
One local doctor doesn't just care for his patients. He also has secured his own health, both physically and financially, and our financial columnists share his story.

Doctors play a critical role in securing a safe and healthy environment in our society, but they aren't sheltered any more than we are from the risks and disciplines associated with living a healthy life. Are they practicing what they are preaching?


Most doctors we have met live an orderly life of proper diet and exercise to maintain health, but they often struggle just as much as any other professional when it comes to their financial well-being. In fact, doctors often times have additional stresses that many other occupations do not have. In a profession that is so well-respected and widely perceived to be such a prestigious job, doctors often are pressured to have the things that "doctors" should have — the house, the car, the country club, the vacations. Considering the time in school, the cost of their education and the effort they put forth to get them where they are today, they deserve to reward themselves. But it always comes back to balance.


Lee N., a young local doctor, recently came out of residency and started employment last month with a local health organization. Although income has increased three times, Lee is maintaining a balanced financial position. In his second year of residency, he was introduced to Orangefinancial and became financially literate. He learned the importance of balance and how to proportionately break out his cash flow.


So when Lee started the new job three weeks ago, talk of benefits and group coverage selections started too. Just this week, Lee came in to iron out the details of cash flow, broken down below as an example:


  • Taxes: 31.4 percent (projected taxes)
  • Bullet-Proof Protection: 1.7 percent
  • Savings Rate (money set aside for future obligation): 25.7 percent
  • Debt Reduction (student loans): 8.6 percent
  • Lifestyle: 32.6 percent


Some cohorts from residency may have a very different cash flow break-down, but Lee understands the importance and value of this financial balance. He also recognizes that money is a stress, a factor in our emotional and physical health, and has taken control of that stressor.


While Lee desires to be the best doctor possible to as many patients as will need his help during his career, he needed to start with himself first. Lee is the first patient. And now he is prepared in his mind, body, soul and finances.


Regardless of profession, we all face similar challenges. Yes, the more money, the more options, but the income level is irrelevant. We all have 100 percent of something. How we divvy that up and break-down our own percentages (like Lee) requires a disciplined, balanced approach.


Take a look at your own cash flow percentages. Do you have financial balance? Are you saving 20 percent of your income? Are you bullet-proof? Assess your situation and strive for the cash flow discipline that plays such a key role in your financial success.


Representatives do not render legal or tax advice.  Please consult with your attorney, accountant and/or tax advisor for advice concerning your particular circumstances.

Tom And Brad Cunningham -

Tom and Brad Cunningham are Cincy Chic's financial columnists, and they are the co-founders of Orangefinancial. If you want to share your comments or inquire for more information, e-mail them at This e-mail address is being protected from spambots. You need JavaScript enabled to view it and This e-mail address is being protected from spambots. You need JavaScript enabled to view it .


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