Blogs

5 Must-Do Money Moves for New(ish) Attendings

By Jeffrey Steiner posted 3 days ago
It’s that time of year: New CB residents are finding their rhythm. CA-1s are getting their feet under them in the OR. And you, new attendings, are finally earning the paycheck you’ve been waiting on for years. The question is…now what? By Jeffrey Steiner, DO, MBA Over the years, I’ve worked with a lot of early-career physicians. Most expected that once the money started rolling in, their financial stress would disappear. But here’s the truth: most docs don’t have financial problems . They have financial puzzles —and becoming an attending just makes the puzzle bigger. These five money moves can help you get organized, reduce stress, and build a strong ...

Dr. Dritz’s Guide to Personal Financial Management: Building Your Investment Portfolio

By Ronald Dritz posted Nov 03, 2025
Guest columnist Dr. Ronald Dritz invites young anesthesiologists to join him for a series of articles focusing on the lifecycle of financial health. In this final installment, he offers this general guide to building an investment portfolio that best fits your long-term needs. As you enter your medical practice and begin to accumulate funds, it is imperative that you create an investment strategy to consistently and continuously enable those funds to grow. Without growth it will be extremely difficult for those funds to fulfill your financial goals. As a young physician starting in private practice investing seemed like a black box. Investment “opportunities” ...

Building Financial Confidence as a New (or In-Training) Anesthesiologist

By Kayla Knuf posted Oct 27, 2025
Highlights from the ANESTHESIOLOGY 2025 Finance Panel. By Dr. Kayla Knuf, with Drs. Christopher Malgieri, Herb Chen, and Shyamal Asher. After years of training on modest resident salaries, the first real paycheck as an anesthesiologist feels both exhilarating and surreal. But between loan repayment, lifestyle upgrades, and complex benefits packages, many new anesthesiologists realize that financial freedom doesn't come automatically. At the 2025 ASA annual meeting, four anesthesiologists offered a road map for managing money early in your career. Their message was clear: You can't outsource financial literacy. It's as essential to long term wellbeing ...

Dr. Dritz’s Guide to Personal Financial Management: Creating Your Investment Team

By Ronald Dritz posted Sep 30, 2025
Guest columnist Dr. Ronald Dritz invites young anesthesiologists to join him for a series of articles focusing on the lifecycle of financial health. In this installment, he identifies the key players in a personal investment team that will help set your portfolio on a trajectory to long-term success. As you begin to accumulate some wealth the question will quickly arise, “where should I invest these funds to enable them to grow?” There seem to be an almost endless array of investments to choose from; equities, ETFs, REITs, futures, Treasuries, corporate bonds, mutual funds, etc, etc. The list goes on and on. All investments carry a certain amount of ...

Dr. Dritz’s Guide to Personal Financial Management: Roth IRA Accounts

By Ronald Dritz posted Sep 02, 2025
Guest columnist Dr. Ronald Dritz invites young anesthesiologists to join him for a series of articles focusing on the lifecycle of financial health. In this installment, he explains why the Roth IRA is an increasingly popular retirement savings account that offers particular advantages as part of a long-term financial portfolio. Roth IRA accounts were established as part of the 1997 Taxpayer Relief Act. Named after the primary sponsor of the legislation, Senator William Roth Jr. (R-Del), Roth IRA accounts are funded with after-tax dollars, accrue earnings tax free, and are tax free on withdrawal — provided certain rules are followed. There are two ...

Dr. Dritz’s Guide to Personal Financial Management: Tax-Advantaged Retirement Vehicles

By Ronald Dritz posted Jul 31, 2025
Guest columnist Dr. Ronald Dritz invites young anesthesiologists to join him for a series of articles focusing on the lifecycle of financial health. In this installment, he test-drives the various tax-advantaged retirement vehicles and takes readers for a “look under the hood” at each. The 1974 Employee Retirement Income Security Act (ERISA) and The Revenue Act of 1978 created the governmental body that oversaw and rules that governed 401(k) plans. These plans, along with their corollary 403(b) non-profit and 457 government employee plans*, have become the major method for funding employee retirement plans. These plans hold a total of $8.9 trillion ...

Dr. Dritz’s Guide to Personal Financial Management: What the "Big Beautiful Bill" Means for You

By Ronald Dritz posted Jul 07, 2025
Guest columnist Dr. Ronald Dritz invites young anesthesiologists to join him for a series of articles focusing on the lifecycle of financial health. In this follow-up to his recent blog on federal income tax, Dr. Dritz provides a quick overview of the One Big Beautiful Bill Act and how its new tax provisions may impact your bottom line. In my blog post on federal income taxes , I noted that Congress was debating the One Big Beautiful Bill Act (OBBBA). This piece of legislation has now passed the Congress and been signed by President Trump. It contains important changes to the federal tax code. Here are the most important changes that could ...

Dr. Dritz’s Guide to Personal Financial Management: Federal Taxes Explained

By Ronald Dritz posted Jun 05, 2025
Guest columnist Dr. Ronald Dritz invites young anesthesiologists to join him for a series of articles focusing on the lifecycle of financial health, from wealth accumulation to retirement planning. In this installment, he tackles the federal income tax — how it's calculated and what you owe. The federal income tax is a graduated tax; that is, the tax rate increases in a stepwise fashion. As your taxable income increases, so does your tax rate. That does NOT mean that when your taxable income passes the threshold for a higher tax rate all your taxable income is taxed at the higher rate. Only your taxable income above the threshold is taxed at the ...

Dr. Dritz’s Guide to Personal Financial Management: Introduction

By Ronald Dritz posted May 08, 2025
Medical training often does little or nothing to prepare young physicians to manage their personal finances, as guest columnist Dr. Ronald Dritz discovered soon after he began his private practice in anesthesiology. Now retired, Dr. Dritz invites young anesthesiologists to join him for a series of articles focusing on the lifecycle of financial health, from wealth accumulation to retirement planning. Buckle up! As I emerged from my anesthesia training and began my private practice, I felt comfortable and secure providing anesthetic care for most any surgical procedure up to and including complex cardiac surgical cases. And I began to be reimbursed ...

Member Spotlight: Dr. William Hauter Takes Patient Advocacy to the State House

By Emily Cowan posted May 01, 2025
After years a s a practicing physician, Dr. William Hauter decided there was another way he could give back to his community: as an elected official representing first his county and now district in Illinois. In this Member Spotlight, Dr. Hauter—a state representative of the 87th District—shares his motivations for running and explains why it's so important for physicians to speak for their profession, their specialty, and ultimately their patients in our nation's governing bodies. Wow, this is the first time we’ve interviewed an elected official for Member Spotlight! We’ll get to that in a moment, but first some background. Can you tell us a bit about ...

Member Spotlight: Dr. Adam Moore on His (Short) Path to Locums

By Emily Cowan posted Mar 31, 2025
There is an expectation — even a recommendation — among many that it's better to practice in a more traditional setting before embarking on a career as a locums anesthesiologist. In this Member Spotlight, early-career anesthesiologist Dr. Adam Moore walks us through his decision to pursue a different path. You went into locums just two years after completing residency. Can you begin by telling us a bit about your early experience and what you were seeing/hearing that suggested locums as the best option so early in your anesthesiology career? I never intended to go into locums. I joined a group on the partnership track, but ultimately I turned ...

Tax Savings for Young Physicians: Write-Offs You Shouldn’t Ignore

By Joseph Klaus posted Mar 24, 2025
Whether you’re employed (W-2), an independent contractor (1099), or somewhere in between, knowing what you can write off (and how to track it) can save you thousands each year. By Joseph Klaus, MD As a physician, you’ve worked hard to get where you are—so why give more of your earnings to taxes than you have to? This guide covers the most useful tax deductions and savings strategies for physicians—plus some tips on how to stay organized. Business & Professional Expenses If you’re a 1099 physician, locums provider, or own a side practice, a lot of your work-related expenses are tax-deductible. •Medical Equipment & Supplies – ...

Member Spotlight: Dr. Stephen Jackson on Medical Ethics and the Power of Play

By Emily Cowan posted Feb 27, 2025
For over a decade, Dr. Stephen Jackson served as chair of the ASA Committee on Ethics, and he served for over three decades as a member on both the ASA Committee on Occupational Health and the ASA Committee on Physician Well-Being. It’s a powerful trifecta of interests that, unsurprisingly, has yielded a thoughtful and well-rounded career in anesthesiology. In this Member Spotlight, he shares his approach to tackling life’s thorniest questions — with professional rigor and a healthy dose of humor. You’ve previously chaired both ASA’s Committee on Ethics and the bioethics committee at your hospital. What first got you interested in the ethical practice ...

The Time Traveling Investor?

By Christopher Malgieri posted Feb 01, 2025
“If only I knew then what I know now.” It’s a familiar lament we hear time and again from those who think they could have made better investment decisions…if only. For the young readers out there, I have some good news: You need not be a time traveler to get the most out of your investments. By Christopher Malgieri, MD When I finished training and started to make more money, I committed myself to two financial goals. First, get out of debt as quickly as possible; and second, begin a journey to financial independence. The former goal was accomplished with a mix of aggressive payments and utilization of loan forgiveness programs . The second was a bit ...

Young Anesthesiologist's Keys to Financial Success

By Zachary Buccino posted Jan 02, 2025
Residency is finally over and you just signed your first big contract as a staff anesthesiologist. But before you spend that salary faster than you can deposit it to your bank account, there are a few moves you should make to set yourself up for financial success. By Zachary Buccino, MD The first thing anyone should do with their money, regardless of career, is to start an emergency fund. Unforeseen events happen and usually when you least expect them. The average amount American’s have in saving is around $8,000 while the average amount of monthly expenses ranges around $6,500. That means the average American is essentially living month to month which ...

4 Steps to Making a Savings Plan That’s Right for You

By Michael Norton posted Oct 14, 2024
Having adequate savings is critical to maintaining financial health. Here are the four key considerations to create a robust and effective saving strategy, plus a primer on common savings instruments that can help you reach your personal goals. By Michael Norton, MD, MBA, FASA Recently, I wrote about credit cards and talked about some ways to spend money in a manner that’s both smart and profitable. Now I’m going to pivot and focus on the opposite side of things: saving. Having adequate savings is critical to maintaining financial health. It facilitates large purchases (such as furniture, vacations, or even vehicles) without incurring huge amounts of ...

A Beginner's Guide to Choosing—and Using—Your Credit Cards

By Michael Norton posted Aug 29, 2024
In addition to their convenience, credit cards provide security features and a wide range of rewards programs. Picking the right card and managing it appropriately is imperative. By Michael Norton, MD, MBA, FASA For many years, I had only one credit card: a Visa issued through my bank. It was a basic, no frills card that earned 1% cash back on all purchases regardless of vendor or type of purchase. It was simple, easy to understand, required no effort, and cost me thousands of dollars in missed rewards opportunities over the years. Fortunately, my wife is an absolute research queen, and while we were dating in 2021 she asked me why I didn’t consider getting ...

Member Spotlight: Dr. Christian Horazeck on Challenges and Innovations in Pain Management

By Emily Cowan posted Jul 31, 2024
Within six short years in the dynamic field of regional anesthesia and acute pain management, Dr. Christian Horazeck has already amassed a wealth of experience and insight. In this Member Spotlight, Dr. Horazeck highlights innovative strategies that improve patient care and outcomes, such as optimizing post-cesarean opioid prescribing, and discusses his research on nerve blocks for outpatient knee arthroplasty. He also shares his approach to educating future anesthesiologists, encouraging them to consider themselves "expert consultants.” Could you describe a particularly challenging case from your experience in regional anesthesia and acute pain medicine? ...

7 Steps to Smart Tax Management: Strategies for Young Anesthesiologists

By John Rose posted May 29, 2024
There’s no single prescription for smart tax management, but some essential strategies can be tailored to maximize the year-over-year earnings of a practicing physician. By John Rose, DO As a young physician embarking on a career in medicine, the journey is filled with excitement, challenges, and a sense of purpose. Amidst the rigors of medical training and the demands of patient care, one aspect that often warrants attention but may not receive the focus it deserves is financial health. To this end, managing taxes is crucial for ensuring financial health and maximizing your hard-earned income. Here, we delve into the essential strategies tailored to ...

Why Advocacy No Longer Feels Stressful: Lessons from the Hill

By Asha Padmanabhan posted May 28, 2024
Stepping outside of our comfort zone to engage in political advocacy can be daunting. After years of meeting with lawmakers, I've finally learned how to make the most of my visits to Capitol Hill. By Asha Padmanabhan, MD I recently returned from legislative visits to Capitol Hill as part of LEGISLATIVE CONFERENCE, the American Society of Anesthesiologists' annual advocacy event. Each May we head to Washington, D.C., to meet with our state's legislators and discuss pressing healthcare issues, particularly those affecting anesthesiology. In the past, I would feel a significant amount of anxiety leading up to these visits. As physicians, we are trained ...