Setu Mazumdar, MD, CFP

The investment portfolios of neurosurgeons, radiologists, cardiologists and types of physicians usually have one common theme: they're unnecessarily complex.

Basic economics tells us that when demand is high and supply is low, prices tend to go up. Not for doctors though. If they sit down and calculate their real hourly pay, they might be surprised and a little angered.

How productive was your last meeting at the hospital or with your physician group? Was it a waste of time? Wouldn't you prefer it if you didn't have to attend those useless meetings ever again?

One way the government, insurance companies, and corporate entities are going to reduce health care costs is to put a target on physicians' backs. What's your financial plan to address being replaceable?

In order to supply excellent patient care, physicians have to change their mindset and convey the value they provide. One way to empower themselves starts at home by getting their finances and investments in order.

In sports no one even remembers who finished second. The attitude is "first or worst." Unfortunately, it's the same with physicians managing investments on their own.

Most physicians - whether they have financial advisors or not - focus on one or two specific parts of their finances and ignore the rest. They never realize how the parts fit together in a unified financial plan.

Selling a house is a difficult business and sellers need to make sure they leave emotions out of it and rationally consider the finances involved.

Setu Mazumdar, MD, CFP, sold his first house recently and learned some hard lessons along the way about buying and selling a home.

Setu Mazumdar, MD, likens the situation in Cyprus to what physicians in the U.s. face, particularly emergency physicians who are forced to see patients without being paid for their services.

Ask yourself: "If I have ZERO income, how long would I last?" The longer you can go without income, the more options you have in your life and the sooner you can walk away from it all.