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Would you practice if you had a $25 million windfall?

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  • Would you practice if you had a $25 million windfall?

    An acquaintance of mine had a $25 million windfall and decided to quit medicine. One of his concerns was the liability of practicing medicine. Would you continue to practice if you had $25 million?

  • #2
    nope.

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    • #3
      No. But not because of the liability

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      • #4
        NO

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        • #5
          Don't mean to hijack the thread. $25mm is insignificant in the decision. Jail time my be inconvenient.
          Nope, never have and never will.

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          • #6
            Originally posted by Tim View Post
            Don't mean to hijack the thread. $25mm is insignificant in the decision. Jail time my be inconvenient.
            Nope, never have and never will.
            Not sure about the relevance of this comment.

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            • #7
              I would practice medicine till I stopped loving it, even I had ten times that amount.

              I love my low paced work and the status of being a physician with a purpose in life.

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              • #8
                No. I'd be out the door so fast I'd break the Olympic 50-meter sprint record. (Which is sad, because I still enjoy the core part of my job. But I don't enjoy the ever-increasing workload, the parts of the job that are really extraneous to medicine, the increasing size and number of hoops one must jump through to maintain one's licenses, board certification, and privileges, or the risk of litigation. I've had more than enough of all of that!)

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                • #9
                  Originally posted by Kamban View Post
                  I would practice medicine till I stopped loving it, even I had ten times that amount.

                  I love my low paced work and the status of being a physician with a purpose in life.
                  What field do you practice?

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                  • #10
                    If I could find a reasonable part time job in my desired city, yes I would still practice.

                    Would I stay in my current job? No.

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                    • #11
                      Yes, part time at a clinic for low incomes. I'd practice similarly, but with many more days off per week, more weeks off per month, and maybe more months off per year.

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                      • #12
                        Originally posted by whitecoatinvestoruser View Post
                        What field do you practice?
                        Since this is a public board, all I can reveal is dual medical sub-specialties.

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                        • #13
                          Yes, I still would.

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                          • #14
                            Hard no.

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                            • #15
                              Originally posted by whitecoatinvestoruser View Post
                              An acquaintance of mine had a $25 million windfall and decided to quit medicine. One of his concerns was the liability of practicing medicine. Would you continue to practice if you had $25 million?
                              So far the answer is yes, but I do think about it especially when there is a less than ideal outcome.

                              https://www.whitecoatinvestor.com/my...th-a-windfall/

                              But I am half-time and not working at night when the hospital provides less support and the patient population is.....different. That likely limits liability. If I were in a job where I was being pushed to work faster than is safe I would probably feel differently too.

                              I also had a partner who punched out on the advice of his advisor or attorney after selling his company. It would be malpractice not to advise me to do the same at this point. But life is risky....

                              Maybe I should go buy a big WL policy. They get pretty good protection in my state. But the fact remains that I now have more to lose from practicing medicine than I will ever make from it.
                              Helping those who wear the white coat get a fair shake on Wall Street since 2011

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                              • Lordosis
                                Lordosis commented
                                Editing a comment
                                The fact that you still practice medicine gives you some credibility that I am sure helps the blog.

                              • The White Coat Investor
                                The White Coat Investor commented
                                Editing a comment
                                Doesn't seem to be hurting POF any. Granted, his blog name has the words Retire Early in it, but still. I'd say that less than 10% of why I'm still practicing.
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