Blogs

Fellowship or First Paycheck? The Financial Trade-Offs Facing Anesthesiology Residents

By Kayla Knuf posted 7 days ago
There is no "right" financial answer to the fellowship question, only a decision that aligns with an individual’s personal circumstances, priorities, and long-term career goals. By Dr. Kayla Knuf, with Drs. Joy Chen, Carly Jacobs, Sachin Jha, Eric Reilly, and Lisa Weiss For anesthesiology residents, the decision to pursue fellowship training is rarely straightforward. While a passion for a subspecialty often sparks the conversation, financial considerations including debt, lost income, long-term earning potential, and job security frequently play a central role. To better understand how these factors influence decision making, we asked anesthesiologists ...

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

By Jeffrey Steiner posted Dec 01, 2025
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 ...

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 ...

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 ...

Time to Get Your Retirement Savings Organized!

By Jeffrey Steiner posted Apr 22, 2024
Tax Day has come and gone. Since you’ve already spent time putting your financial statements together, why not take this opportunity to make the most of that effort? By Jeffrey Steiner, DO, MBA Most physicians don't have a great handle on their retirement savings and investing. Chances are, you've built your financial system as you went along. April is the perfect time of year to build some structure around that system and plan for the future. Whether you're early in your career or eyeing early retirement, there are some simple things you can do now to set yourself up for success. Make a huge impact on your retirement savings by using this four-step ...

Retirement Options for 1099 Employees

By Kayla Knuf posted Mar 18, 2024
The lure of self-employment continues to be popular for anesthesiologists. It comes with flexibility in scheduling as well as the ability to travel. Whether this is a full-time gig or in supplement to your W2 job, there are many options to manage your retirement when working as a 1099 employee. By Kayla Knuf, MD As a 1099 employee, you are on your own to plan for retirement. Two retirement plan options for self-employed and small business owners are the Simplified Employee Pension-Individual Retirement Account (SEP-IRA) and the individual 401(k). SEP-IRA The SEP-IRA has been hailed by different sources as simpler to set up than an individual ...

Financial Planning for Your Child’s Education Is As Easy As 5-2-9

By Christopher Malgieri posted Jan 05, 2024
No matter how “comfortable” I become financially, I can still always appreciate a good deal. And believe me, if you plan to finance your child’s education, there is no better deal than a 529. By Chris Malgieri, MD In a nutshell: A 529 plan is an investment fund that you own, and your child is the beneficiary. As these funds grow with the stock market, the proceeds can be realized tax free if they are used for qualifying education expenses such as tuition, housing, books, and computers. Up to $18,000 can be deposited by a parent or gift-giver annually. A two-parent household can give $36,000 each year. Alternatively, contributors can give a lump five-year ...

Member Spotlight: Dr. Elisha Peterson Aims to "Demystify" the Specialty for Future Anesthesiologists

By Emily Cowan posted Nov 13, 2023
Dr. Elisha Peterson is a Harvard-trained, triple-boarded anesthesiologist who has since added “podcast host” and “TEDx speaker” to her already impressive resume. In this Member Spotlight, she explains how her many professional activities and interests contribute to a singular goal: pulling back the “blue drapes” so that future anesthesiologists of all backgrounds can have a clearer view of the specialty and its impact on patients’ lives. First, let us say that you’ve got a lot going on! If we met you at a professional event, what would be the top three things you’d like us to learn about you? 1) I have a podcast! It’s called “Sevo Sistas,” and ...

Tokenized Real-World Assets and the Case for Cryptocurrency

By Andrew Winegarner posted Nov 08, 2023
Younger anesthesiologists focused on wealth accumulation rather than preservation should consider adding not just stocks but also cryptocurrency to any aggressive investment portfolio. Here’s why. By Andrew Winegarner, MD Anesthesiologists, especially now, have a secure job market with relatively high salaries coming right out of residency. There is a reliable safety net wherein early-career physicians can afford more aggressive investment portfolios. However, with interest rates high, more and more young physicians seem to be putting more money in high yield savings accounts, CDs, treasury bills, money market funds and so on for a guaranteed ~5% APR ...

Member Spotlight: Dr. Mary Arthur's Commitment to Anesthesia Education Worldwide

By Emily Cowan posted Oct 02, 2023
Dr. Mary Arthur recently returned from a mission trip to Ghana sponsored by Internal Healthcare Volunteers (IHCV). In this Member Spotlight, she shares her commitment to medical education and clinical care programs worldwide, including her work on ASA's Committee on Global Health. How did you first become interested in global health and come to work with IHCV in particular? I have devoted most of my career to education in anesthesiology, and I figured it was time to transition the experience I had gained educating young anesthesiologists to anesthesia education worldwide. I have been volunteering my time teaching residents in other countries, including ...