The List of Physician Side Hustles – The White Coat Investor – Investing & Personal Finance for Doctors

[Editor’s Note: Today’s WCI Network post comes from Passive Income, MD, and is his growing list of physician side hustles updated for 2020. I wrote a post a few weeks ago about how doctors should not feel like they have to have a side hustle, but if you want one, take a look at some of these! Feel free to submit your own ideas to add to his list in the comments section below.]

With the ever-changing state of medicine, the increasing burden of student loan debt, and the dissatisfaction and burnout that comes along with all of it, physicians seem to be searching for alternatives or other ways to make income.

Perhaps it’s to supplement/replace their current incomes or perhaps it’s a way to transition out of medicine altogether. Either way, the notion of the “side hustle” or “side gig” seems to be growing in acceptance amongst the physician community.

To qualify as a side hustle, it must be something that you can initially start while continuing your day job as a physician.

Why Even Have a Side Hustle?

(Related: 5 Reasons Why Doctors Should Have a Side Hustle)

• Make more money.
• Hedge against changes in medicine or your current job.
• Increases your bottom line to help you achieve financial independence quicker.
• Maybe it’s just something you’re passionate about and enjoy doing.

Is It Worth It?

At the end of the day, that’s a personal decision. You have to figure out whether it’s worth it to you after answering the following questions amongst many others:

• How much can you make?
• What’s your time worth?
• Should you just work more at your current day job?
• Will it help you create your ideal life?
• Is it something that you’re interested in and passionate about?

Ultimately I believe that side hustles start with having the right attitude. Your success will be predicated on your drive and determination, which, if you’ve made it this far in your medical career, you already have plenty of.

There might be obstacles you face while trying to pursue a side hustle as a physician, but it might be absolutely worth it.

In fact, NOW might be the perfect time to get started!

Without further ado, here’s my growing List of Physician Side Hustles (with some examples, ex, of doctors doing those very things):

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Make Extra Money Using Your Medical Degree (Non-Clinical)

Clinical 

Educate Others

Real Estate Opportunities

Businesses

Online Businesses

Patent / Invention

Investing in Companies

Stock Market

Writing

• Medical Writing – SEAK
• CME content writer
• Medical Journal Editor

Traditional Media / Online Media / Social Media

Public Speaking

• Pharmaceutical industry lecturer
• Paid guest lecturer at conferences

Aesthetics

Transportation

• Drive Uber or Lyft (Believe it or not, I’ve actually heard of some docs doing this.)
• Rent out ad space on car – Wrapify
• Rent out your car – Turo, Getaround

Coaching

Lending

Freelancing

Others

Any that you’d like to add to the list of physician side hustles – your own, your colleague’s, etc? Feel free to share below, or join the discussion on our Facebook, Forum, or Reddit Groups.