Doctors and dentists change people's lives every day. But their valuable skillsets and high earning potential also provide these health care professionals with unique options to give back. An intentional giving plan that keeps your values, your money, and your time in alignment can help doctors and dentists achieve more Return on Life whether they're making their rounds or on a sabbatical.
Consider these four ways to maximize your giving:
1. Donate regularly.
A combination of factors, including COVID, inflation, and changes to tax laws, have led to a decline in charitable giving in the United States. As much as charities and nonprofits rely on staff and volunteers, they need money to keep the gears turning, especially in fields like health care and scientific research.
Much like the automatic deposits you make into your financial accounts are a consistent investment in your future, automatic contributions to charities and non-profits can make consistent investments in the causes that matter the most to you. Rather than just writing a big check around the holidays, set up monthly donations or explore annual membership options that help charities sustain their missions throughout the year. And if you have larger giving goals, talk to your advisor about setting up a donor-advised fund or your own charitable organization.
2. Volunteer.
Taking a couple weekly or monthly shifts at your local free clinic or another medical facility that serves people in need can put your most valuable skills to their highest uses. More adventurous doctors and dentists might consider connecting with organizations that deliver health care and relief to struggling communities around the world. Your local community center might also need experts to deliver important health care information via workshops, seminars, and community meetings. While helping others, you'll also gain valuable new medical experience and potentially take on leadership roles that might influence how you think about your career goals going forward.
3. Teach or mentor.
What do you wish that you knew when you were a young doctor or dentist?
Who were the mentors that shaped the caregiver you are today?
Helping other medical professionals accelerate their own growth and avoid some of your mistakes can be a rewarding and impactful way to give back. Informally, take a younger colleague under your wing, or help an older colleague catch up on the latest treatments, research, and advances in AI. You might also look for positions at teaching hospitals, contribute to studies, or consider moving into academia full time.
4. Do what you do best.
It's no surprise that managing burnout continues to be a major story in medical fields. Health care professionals are constantly facing life-and-death challenges, in addition to the stresses that come with administrative and management responsibilities.
Finding the balance that you need to perform at a high level can be one of the most impactful investments you make in yourself and your ability to serve your community. Try to be that helpful, smiling face that patients are relieved to see after hours of scheduling, filling out forms, taking tests, and waiting. Be a lifelong learner so that you can continually improve your skills and your knowledge. Look for ways to speed up routine work and improve efficiency for everyone in your office. Take control of your schedule so that you're getting the rest you need, including vacation and sabbatical time. Build out a routine that helps you arrive at every shift ready to put your values in action, both for your patients and for yourself.
And use your Life-Centered Financial plan to keep your giving goals in sync with the rest of your life and career.
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