Introduction

Hi, I’m Laura.

I’ve been a family physician in Ontario for nearly 10 years. My journey began at McGill University for medical school and continued with my residency at Queen’s University. Along the way, I’ve embraced various roles in my medical career, from a full-time hospitalist to a full-time family practitioner, from a Memory Clinic provider to the Medical Director of a nursing home, and even as a locum. This diverse experience has given me a unique perspective, having worked in both rural and urban settings.

When I started medical school, I had one goal only: to be the best doctor I could be. I was very naïve and had no idea that being a doctor would also mean being a small business owner. I knew nothing about business, finances, budgeting, taxes, or payroll. So, I began to educate myself. Over the years, I learned a lot and honed my medical skills. But more importantly, I learned many life skills outside of medicine, which are invaluable to my quality of life.

My parents, both scientists, came from Tamil Nadu, India, and immigrated to Canada as graduate students in the late 1970s. My sister and I are physicians, and we are the first physicians in our extended family. There are MANY practical things about being a doctor that you never learn in medical school or from mentors. And if you’re like me and don’t come from a family with other physicians, you have to learn on the fly. And that’s what I did, painstakingly.

You will often hear advice from financial, tax, or other experts who want to cater to doctors; much of their advice is good. However, most advice is never given from the lived experience of a physician. I know what it is like to be a student, a resident, and a staff physician. I understand the pressure of practicing good medicine while running a small business. I have been lucky to meet some mentors willing to share life skills they had learned along the way. But we are not all so fortunate to hear first-hand from the lived experience of a seasoned physician in such an open way. I want to provide this teaching to anyone interested.

My mission is clear: to empower with practical advice and to address financial literacy gaps among Canadian doctors and doctors in training. Some of the advice may also be applicable to other professionals who operate as small businesses, such as dentists and veterinarians. In this blog, I will share my knowledge, which will save you time and, hopefully, help you avoid some pitfalls. We will cover various topics, from personal finances to insurance and incorporation. But remember, it all starts with the right mindset, and that’s where we’ll begin.

Join me for Wisdom Rounds, and learn to thrive.