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Do You Feel Rich?

In this episode of Financial Clarity for Doctors, Corey Janoff and Rachelle Vanderzanden talk about the moving goalposts of what it means or feels like to be “rich”.  Such a loaded word!  But how much you earn or have may not matter nearly as much as where you live or even your attitude.  If we compare ourselves with some averages, it can put things into perspective a bit.

Listen Here!


How do you even measure being rich?

  • Income – Keep in mind that many of our listeners are in the top 5-10% of earners in the US.
    • Median household income was $74,580 in 2022.
    • Only 12% of households earn about $200,000 per year.
    • Only 2.6% of households earn about $400,000 per year.
  • Net Worth – This is a little harder to measure. You can look at the things you own/money you have set aside and then look at your debts.  Early career physicians often have a negative net worth with the student loan balances, but many are able to build this fairly quickly as attendings.
  • Cash Flow – High fixed expenses (like mortgage, student loan payments, and childcare) can make things feel tight from month-to-month. Definitely does not make you feel
  • Comparisons – Who are you comparing yourself to? A person making a median income with a median net worth, or your older colleagues at work who have had more time to grow their wealth.


Money is only one way to measure wealth.  We can also look at things like health, time with family, and a sense of purpose.  Even if you are not a top earner or a person with a large net worth, that doesn’t have to stop you from feeling rich.  Is your glass half empty or half full?  Listen for the full episode to hear more.

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

Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.