Why are so many female physicians dropping out of the profession? It’s extremely challenging to achieve balance as a physician mom. Not only are you a mom who is raising your own children, but a physician taking care of patients—besides having to deal with gender discrimination issues and the global pandemic.   

In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Dr. Bonnie Koo, founder of Wealthy Mom MD. Her business is dedicated to helping physician moms have it all without giving it all. Bonnie empowers physician moms by providing financial literacy through her podcast, coaching, and courses. Also, Bonnie is a board-certified dermatologist, certified life coach, mother, step-mother, and fiancée.     

Topics Discussed:

Wealthy Mom MD: Teaches female physicians financial strategies to overcome

Taboos: Don’t talk about money to handle and deal with anxiety, stress, and guilt

Perfectionism and Money: Female physicians are afraid to fail and lose

Promise Land? Money doesn’t mean physicians live happily ever after

Purpose of Money: Helps you live the life you want and do good in the world

Compensation: Females navigating and negotiating in patriarchal society

COVID and Corporate Medicine: Magnified cracks to figure out money, stability

Financial Independence, Retire Early (FIRE): Money is resource to buy back time

Coaching: Download new software updates to your brain when behind financially

Thought Loops: You are what you think—being on auto-pilot vs. becoming aware

Links:

Wealthy Mom MD

Weathy Mom MD’s Podcast on Negotiation

Guest Post on Miss Bonnie MD: A Woman’s Guide to Becoming Financially Independent

How Perfectionism In Medicine Spills Over Into Your Personal Finances

Finance For Physicians