By Dr. Leif Dahleen of Physician on Fire, WCI Network Partner
I recently took a deep dive into the finances of four imaginary but realistic physicians in A Tale of 4 Physicians 2021: The Impact of Lifestyle on Financial Independence. All are married and have total household salaries of $340,000. A reader chimed in: “What about us single primary care physicians?”
That’s a good question, reader. Your finances as an unmarried individual filing taxes as a single filer while earning significantly less than a specialist or a dual-income household will look a lot different.
Specifically, I was asked to look at a doctor earning less than $200,000 with student loans to tackle. According to a recent Medscape Compensation Survey, even the lowest-earning primary care physicians (pediatrics and preventive medicine are tied for the distinction) earn an average of $232,000.
We’ll look at not one but four single physicians with