A FIRE’d surgeon, Cory Fawcett, MD, has written many finance books aimed directly at physicians. DH and I have enjoyed Dr. Fawcett’s books. The latest one, Navigating a Financial Crisis, is just as good, if not better than his previous books.
(Before you proceed, please be aware there may be Amazon affiliate links, that although will not cost you any extra, may bring in a small commission to help support this blog.)
Navigating a Financial Crisis came out early during the pandemic when indeed, many physicians were having to navigate a financial crisis when clinics and elective surgeries were shut down. Then still later, as many doctors found their salaries cut due to the tremendous negative impact COVID-19 had on hospital systems’ bottom lines.
In speaking to physicians, though, many are still fiscally impacted with no return to their pre-COVID salary levels. So this book is still relevant and will remain so as long as life continues to have unexpected twists and turns (which, if you adult long enough, it will).
Dr. Fawcett’s book teaches the reader to take stock of their financial situation, look at what options are available to them, and come up with an executable plan to recover stronger than they were before. I love this because the book is built on the premise that stress can be good for you if you look at it in a growth mindset way, knowing that you can come out stronger on the other end of the trial you’ve endured.
The book covers assessing your finances, skills, and connections while learning the best ways to deal with debt. It also instructs the reader on what not to do with their emergency fund and teaches what options are available in bankruptcy. Lastly, it imparts sage wisdom on how to preserve your relationships and find your path to recovery.
Overall, this is a very hopeful book written for a time when most people feel beyond hopeless. It’s also written with tremendous empathy, making the reader feel like the author is walking the difficult journey alongside them. Strong work, Dr. Fawcett.
If you—or anyone you know—are going through a financial crisis, I’d highly recommend checking out all of Dr. Fawcett’s books here..