It is an honor for me to be writing this post. I had been eagerly anticipating the release of Dr Latifat Akintade’s first book, Done with Broke [The Woman Physician’s Guide to More money and Less Hustle] ever since I heard that she was writing it.
I have had the immense pleasure of meeting her in person and being on her podcast, and with every interaction, I am blown away with her wisdom. The book was no different.
The book arrived about a week back and patiently lay on my desk, waiting to be picked up. I was planning to savor it over the weekend, while the rest of my family soaked up sun and fun in a Father’s Day staycation at a local hotel (I’m in Orlando, we get to do this kinda stuff).
And it proved to be the treat I was hoping for.
Frankly, though I was expecting it to be very well-written, I wasn’t entirely sure that I would find a whole lot new. I knew of Dr Akintade’s extensive work on money matters and coaching on all things money. But, hey, I write a personal finance blog.
What I wasn’t prepared for, was the thought work, even I- as an experienced DIY investor and personal finance enthusiast, speaker and educator- the book has you go through (if you’re not reading just for entertainment but actually following through and doing the exercises it recommends).
As I kept the book down and welcomed my kids back home, I was smiling widely, feeling completely at peace for having journaled and “thought on paper” many intertwined ideas and beliefs about life, family and wealth- because there is no separating those out, as much as you may want to.
Mindset is EVERYTHING
Unless you’ve been living under a rock, you’ve heard this somewhere. Thing is, it’s everywhere because it’s true.
The only way we change anything is by changing how we think about it. True about relationships, careers and, not unsurprisingly, wealth.
Women physicians, for various reasons, ranging from upbringing to societal confirmation, have a variety of beliefs about money that have kept us from owning our own genius, using it to grow our wealth and take our rightful places at the table where the grownups who run the world, are talking.
It is not easy to unlearn decades of learning. But, if anyone can do hard things, it’s us.
And that includes knowing and believing that money is simple. Far far simpler than what we do in our day (or night) jobs, saving lives with complete badassery.
And that includes believing in the inherent truth that money is neutral, just a tool. And that our worth is not dependent on our wealth. We are already 100% worthy. Like every other individual on this planet.
Therefore, earning more, growing our wealth and using it to build our lives and legacies, giving back to our communities and the world at large, is just part of what we are meant to do.
It doesn’t make us any better than we already are- it just reveals more of who we are and our impact we are capable of.
The House of God (or the Culture of Medicine)
The way medicine is structured today is not with us in mind. The corporate owners of the Houses of God are concerned with productivity and productivity alone. The quality of care presently does not have a measurable index, which in turn can be be rewarded.
And that’s where women physicians have a disadvantage. As research points out, women physicians deliver better care. But they also spend more time with patients. I had to use the word “but” at the beginning of the sentence because that does not translate into the bottomline.
So, women physicians are left with the short end of the stick with regard to income.
Other factors play into it too. Negotiating skills, or the lack of it. High childcare costs that keep us from wealth building. More opportunities for unpaid volunteerism.
Rewriting Your Money Story
All learning starts with awareness. And acceptance.
No matter where you are on the journey to wealth and abundance or what path you have so far trodden, you can rewrite the parts of the story that do not give you the results you desire for your future.
But from a place of acceptance. We cannot move forward unless it is from a place of self-love. Shame, guilt, regret… some of those feelings we often excel at- are not so helpful in moving forward.
I love this line in the book where Dr Akintade is talking about the abundance mindset. She gently reminds us that we dont have JUST ONE SHOT!
We can, and will, bounce back from mistakes. Because mistakes are inevitable. Because throughout our investing journeys, we will have losses- whether preventable or not.
Like everything else you love, give your money freedom- and it will flock back to you.
Another thing I loved: the author’s Money Mantra:
“I am resourceful. I can always build again. Money doesn’t define me. I am not more amazing with or without. I choose to have…”
Dr Latifar Akintade, Done with Broke
Generational Wealth
We are women. It has been studied in wide-ranging research all over the globe that money in the hands of women does more good for communities than in the hands of men.
How, then, can we play small? How can we stay of the game?
The author challenges us, implores us to look within and ask for more. Not only for our own sakes.
One community we all can make a huge impact in is medicine.
Most of us agree than healthcare in this country is in shambles. Not working for patients or for physicians.
If money is the key to us owning our voices and changing the trajectory healthcare is taking, then it is a goal worth pursuing.
The how-to’s are easy. Once we decide that it is time to dream again. Thank you, Dr Akintade, for this thought-provoking book. For reminding us what is possible and also what is at stake.
Grab your copy today. You will not regret it.
The post contains an affiliate link. This means that if you were to purchase the book through this link, I may get remunerated without any extra cost to you.