Are you paying yourself first?

Don't exchange the stress of residency for a new, lifelong condition of financial stress driven by debt and living expenses

Pay Yourself First: A Financial Guide for Doctors Entering Practice


This book will help you form disciplined techniques to solve common problems that keep physicians from building wealth and taking the best care of their future selves. You'll learn practical methods for managing your salary leap and setting yourself on a solid financial trajectory.

Author Jim Hemphill created TriageMD to empower physicians. TriageMD presents financial literacy workshops and book clubs for residency programs, physician groups, and at conferences. TriageMD advisors are CERTIFIED FINANCIAL PLANNERSTM with extensive experience working with physicians, always with the goal of helping them target walkaway wealth with intention.

Pay Yourself First contains fifteen short chapters, each revolving around the central argument: to build wealth, aim for high savings rates.

  • The first chapters discuss the financial circumstances and common obstacles that many physicians face.
  • The middle chapters examine the correct placement of your dollars, from employer plans to student loans, as well as why and how you should adopt a radically simple investment strategy.
  • The final chapters focus on intentional decision-making, especially around purchasing a home and choosing a financial advisor.



Select quotes from the book:


"Your first priority should always be maximizing pre-tax savings to your employer's retirement savings plan. An employer will often match a portion of your savings. This is free money."


"Avoiding becoming house poor is the single most important lifestyle choice a new physician can make."


"A dollar paid toward reducing your principal on a student loan has the same effect on your net worth as a dollar saved and used to purchase an investment."


"Always direct your dollars to the highest risk-adjusted, after-tax opportunity."


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Pay Yourself first