Business is The Best Medicine
Personal Finance Blog for Medical Professionals
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Moonlighting in Residency
In this honest and experience-backed guide, Dr. Neill Slater shares how moonlighting transformed his residency—doubling his income and building real-world confidence. He outlines the types of moonlighting, how to find jobs, how much you can earn, and the key lessons (and mistakes) from his own journey. Whether you’re considering side gigs or already working extra shifts, this article offers a blueprint for making moonlighting worth your time.
How We’re Teaching Our Kids About Money
Talking about money has always been taboo. My parents never discussed finances in our home. My siblings and I were never told how much money to save or give away or how to think about...
Should You Worry About the Recent Stock Market Drop?
As the stock market experiences significant drops, medical professionals may feel uncertain about their next steps. But what if staying the course through volatility could be the key to long-term success? The answer depends on where you are in your career—and the decisions you make now could have lasting effects.
Would You Buy This Business for $7K? I Might.
A few weeks ago, I got a call from a friend in the real estate world with an unexpected business opportunity. Nothing flashy — just a small self-service laundromat tucked into an old strip center. He was only asking $7,250 for the business. At...
I Have Millions of Dollars of Debt!
Most people panic at the thought of debt, but not all debt is created equal. In this article, Dr. Neill Slater explores his multimillion-dollar debt load, why it doesn’t keep him up at night, and the strategic plan behind it. It’s a candid look into how smart leverage can build lasting wealth.
Why I’m Not Upgrading My Car Even Though I Can Afford It
In this article, Heather shares why she’s choosing to keep her older, paid-off car despite family pressure to upgrade. She explains how intentional spending, avoiding lifestyle creep, and prioritizing financial independence over flashy purchases help her stay focused on her bigger goals.
A Financial Analysis of Sending Your Children to Private School
This article challenges the true cost of private school by comparing it to the potential gains of investing that money instead. It offers a fresh financial perspective on education choices, helping parents consider long-term wealth implications without diving into the usual emotional debates.
The Real Cost of Hiring and Training a New Provider in Urgent Care
It’s March, and in the urgent care business, flu season is winding down. Like clockwork, the first resignation notices of the year come with it. Urgent care is a cyclical business– volumes slow in the summer, are higher in the winter, and provider turnover follows a...
When is the Optimal Time to Make a DAF Donation?
The timing of a DAF donation impacts tax benefits and charitable giving. Learn how factors like tax brackets, investment growth, and personal goals influence the decision.
The Opportunity Cost of Time
Time is our most valuable resource, and every choice has a trade-off. By applying opportunity cost, I’ve learned to prioritize, delegate, and automate to reclaim time for what truly matters.
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Why Everyone Is Wrong About The 4% Rule
The 4% Rule is one of the most cited but misunderstood concepts in personal finance. This article explores the original research behind it, common misconceptions, and how to apply it realistically. Whether you’re skeptical of its reliability or overly reliant on it, this piece clarifies what the rule actually says—and doesn’t say—about retirement planning.
The Goal is to Get Rich
In this reflection, I share why I’ve stepped back from real estate wholesaling in 2025 to pursue business ownership, like a laundromat, that better fits my current season of life. After a conversation with Dr. Slater, I realized success isn’t about sticking to one path—it’s about building wealth in a way that works for you. Letting go of wholesaling wasn’t quitting; it was a smart pivot. Now, I’m investing in businesses my whole family can be part of, aligning with my goals of financial independence, time freedom, and generational wealth.
A Lighthearted Look At 50
Dr. Neill reflects humorously on turning 50, sharing personal insights on aging, health quirks, shifting energy, and encourages financial prep.
What Medicine Has Taught Me About Business
Many healthcare professionals question whether they have what it takes to run a business—but the truth is, medicine teaches more about entrepreneurship than we realize. From problem-solving and documentation to triage and people skills, this article explores the surprising ways clinical experience prepares you for business success.
Never Pay AUM Fees: How Financial Advisors Are Compensated
This article breaks down how financial advisors are compensated—through commissions, flat fees, or the commonly misunderstood “fee-only” model—and explains why assets under management (AUM) fees are a costly, often unjustifiable drain on long-term investor returns. Dr. Neill Slater argues that while financial advice has value, investors should avoid percentage-based fees that grow with their net worth and instead opt for transparent, upfront pricing structures.
Pros and Cons of Cash-Based Businesses
One month into owning a laundromat, I’ve learned a lot about what it really takes to run a cash-based business. It’s not passive, but it’s powerful—if you know what to expect. This article shares the early lessons, surprises, and honest takeaways from my hands-on experience so far.
Your Financial Advisor is Not Your Friend: My Experience With “Professional Money Management”
This candid article explores Dr. Neill Slater’s costly journey with financial advisors over two decades—exposing how misplaced trust, fees, and underperformance quietly eroded his wealth and why he ultimately took control of his own investments.
My First Business Acquisition: Signed Away My Next 5 Years
Two weeks ago, I officially completed my first business acquisition: a run-down, cash-flowing laundromat. It feels surreal to think about how much my world has changed overnight. Instantly, I committed to the next five years of business ownership in an industry I've...
Moonlighting in Residency
In this honest and experience-backed guide, Dr. Neill Slater shares how moonlighting transformed his residency—doubling his income and building real-world confidence. He outlines the types of moonlighting, how to find jobs, how much you can earn, and the key lessons (and mistakes) from his own journey. Whether you’re considering side gigs or already working extra shifts, this article offers a blueprint for making moonlighting worth your time.
Neill Slater MD, MBA
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Heather Zamarron PA-C
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