How Much I Made As A Physician November 2016

I haven’t had an income from Kaiser Permanente, my ex-main-job, for a few weeks now. I am still doing some work for them but because they had overpaid me on a couple of paychecks, they are holding my pay until I’m even again – I’m fine with it. Below I will talk about my November 2016 income which is pieced together from 5 different sources.

I made income by writing for BlogMutt, answering questions on JustAnswer and seeing patients on the Remedy Health App.

About $2,700 is after-tax income from Remedy and $1,600 of pre-tax income from JustAnswer. Don’t laugh but I made $8 of pre-tax income from writing – obviously I’m not doing that one for the income.

I got paid $200 to take a colleague’s 10-hour shift. Definitely not reporting that to the IRS. Cha-ching.

Figuring Out Taxes With Multiple Income Sources

With multiple income streams it’s my responsibility to keep track of my income and file the appropriate taxes. It gets complicated when I have taxed income and untaxed income.

I’m all for paying taxes but I will deduct the shit out of anything I can. It’s very important that I keep track of everything I spend so that I can claim the deductions later. Some things are difficult to track such as food and traveling. I try to label the relevant expenses on Personal Capital and YNAB.

For major expenses I keep a tax document labeled “2016 Taxes” on Google Documents online and enter any major changes on there so that I can reference it when I’m filing taxes.

Expected Income For December 2016

I should have about $3,000 coming in from Remedy. I will be helping them with some writing so hopefully that’ll make me a little more than my base.

I will keep writing for BlogMutt despite the low income. It’s great practice and I enjoy it. If I continue writing for them I should be able to slowly increase my income.

I didn’t make any money from moonlighting in November which is a bummer. Hopefully in December I should have at least another $3k of income from moonlighting with Kaiser.

Keeping Up With My Overall Financial Goals

I’m not sure if I have any major financial goals at this time. I have around $500k saved up in my investments, most of which are in tax-deferred retirement accounts. I’m in a bit of a limbo with my relationship so I’m not sure if I will be planning for a higher cost of living or expecting essentially the same as now.

I have another $140k invested in my condo which has gone up a bit in value and saving me a lot of money that I would have had to otherwise spend on rent. Adding a real estate income property to the mix might make sense for me.

I will be focusing more on lowering my overhead in 2017. Since I won’t be making the same income I used to make in 2016 it’s important for me to look for ways to grow my money by looking at non-traditional investments, real estate and business ventures.

I used to have an overall net worth goal in mind but now I’m more focused on building up my skills and generating income streams for the future. I’m in no rush to do it, I’m giving myself a decade, plenty of time.