Certified financial planner Paul Morton discusses his article "Physician practice ownership: risks, rewards, and reality." Paul breaks down the massive differences between an employed physician's financial journey and that of an equity owner physician, exploring the reasons doctors choose the high-risk, high-reward path of private practice: the desire for control over patient culture, the "visionary" mindset, and the potential for a nonlinear financial reward. Paul dives into the challenging realities of managing overhead, dealing with inconsistent income from reimbursements, and the critical importance of strategic tax planning. This episode is a must-listen for any physician weighing the risks of entrepreneurship against the massive potential payoff of a "liquidity event." Learn the financial strategies that separate struggling practice owners from the highly successful ones.

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