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41. Disproportionate Impacts of The Recession

In this week’s Financial Clarity for Doctors, host Rachelle & Corey team up with Finity Group Financial Advisor Peggy Haslach to discuss the disproportionate impact the current recession has had on women and people of color.   


We’ve all heard the news that many across the country have lost jobs in the last year. But did you know that the job losses in Dec totaling 140,000 were predominately women and minorities – men and white women gained 16,000 jobs, while women minorities lost 156k - (Ellevest)  

If that’s the general population, what is it doing to the medical field? During the current financial crisis and pandemic, more women doctors are leaving the workforce to stay home with their families, and overall, more doctors than in years past are choosing to leave the workforce—some quick stats for you.   

In 2020, 16,000 medical practices closed, and it’s expected that we’ll see another 8,000 close before things get better. (MedScape) 

In this episode, we’ll speculate on why this is happening, what can be done to change the trajectory and its impacts on the future of healthcare. We’ll also share personal stories from physicians we know who have had to make career changes this year.   

Buckel in this is an important episode you’ll want to hear 

 

External Links: 

https://www.ellevest.com/magazine/disrupt-money/jobs-lost-women-of-color 

https://www.medscape.com/viewarticle/941690#vp_3 

Thanks again to the Financial Clarity Blog, our amazing clients, and the whole team at The Finity Group.

For more financial planning tips from Corey and Rachelle find them on LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter:  @CoreyJanoffCFP and @RachelleFinance 

Discussions in this show should not be construed as specific recommendations, legal, or investment advice. Always consult with your investment professional before making important investment decisions. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Securities offered through Cambridge Investment Research, Inc., a registered Broker/Dealer, Member FINRA/SIPC.  Finity Group and Cambridge are not affiliated.