Physicians are able to deliver tragic news with grace and compassion, yet too often they are the subjects of such debriefings; it is estimated that between 300 and 400 physicians take their own lives each year. That is approximately one suicide a day, much higher than most professions.
Many researchers have asked the question, why do so many health care professionals struggle with suicidal ideations? Although doctors are thought of as smart, influential, and stoic, the immense pressure and stress that they endure frequently leads to serious consequences.
An Unforgiving Culture
In college it is typical (and even expected) for medical students to experience sleep deprivation in an intensely competitive environment. They also must simultaneously try to reach an impossible standard of perfection.
Once in the field, new physicians are commonly burdened with student loan debt, and feel unable to seek treatment for depression or other mental illnesses. There is a powerful stigma surrounding mental health crises in medical professions, as well as the very real fear that a diagnosis could threaten the medical license they worked so hard for.
In addition to having concerns regarding confidentiality and their personal and professional reputation, physicians can find it hard to open up about the physical, financial, and mental stress they are experiencing, and may worry about being perceived as weak by their peers. Even if they were willing to seek treatment, they may find attending therapy difficult, due to their rigorous schedules.
Left feeling inadequate after a constant and exhausting pursuit of the unattainable goal of perfection, physicians frequently suffer from depression. They also rarely have time to foster closer relationships with their friends and family, and find it difficult to practice self care. There is a significant correlation between job problems and physicians committing suicide.
Although medical doctors are able to navigate the extremes of medical school, financial pressures sometimes come seemingly out of nowhere. The cost of education has skyrocketed over the course of a single generation, and salaries of resident physicians have remained essentially the same. This creates a mountain of debt for new physicians, who are then thrown into some of the highest-earning positions in the country.
Learning to understand how to manage their newfound wealth is not a natural process, and missteps can easily occur. This feeds into the cycle of debt, depression, and burnout that can lead to increasing feelings of hopelessness and desperation.
How Money Coaching Can Help
As a doctor myself, I experienced the feelings of intense stress and burnout that are shared by most healthcare professionals. I realized that much of my stress came from being unable to properly manage my finances.
As I became financially literate, I realized that I felt lighter, happier, and unburdened. I wanted to be able to share my new knowledge with my peers, so that they didn’t have to feel the way that I felt when I began my struggle for financial freedom. My money coaching solutions empower you to feel in control of your situation, your job, and your life.
Contact me today to find out more about how I can help you achieve your financial goals.