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  • Drop it into MD Drop it into MD 
    Participant
    Status: Physician
    Posts: 440
    Joined: 09/20/2018

    This magazine has been following me where ever I got since medical school  Now I get a copy at home and at my office.  It normally goes right in the trash but something caught my eye on the most recent issues.  There was an article promoting physician personal finance.  Their concerns were pretty similar to the people on this network.  However it did not provide much of a way to address the concerns other then some useful advice on how to pick an adviser.

     

    So,

    Is every one plagued by this magazine? If so does anyone actually read it?

    I know WCI broke into Forbes recently.  Maybe this is another outlet.

    #164225 Reply
    The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4600
    Joined: 05/13/2011

    I’ve written for Medical Economics. It’s geared at primary care docs, particularly outpatient internists. The reason why they run articles from financial advisors prospecting for clients is they aren’t willing to pay people like me to write them. It’s a for-profit business. Why pay for content if you can get it for free and the readers can’t tell the difference? But yes, these are the classic prospecting articles written by financial advisors looking for clients. Sometimes they discuss some vague financial concepts but they all conclude “now call a financial advisor like me.” To be fair, many of these guys really believe that nobody should ever be a DIY investor. Just like the whole life salesmen, they really think they’re doing you a favor.

    In my experience, doctors prefer getting a little more meat in their articles than advisors are usually willing to provide and those who prefer using an advisor don’t read these articles anyway so they should be written aimed more at the DIYers than the advised clients.

    Site/Forum Owner, Emergency Physician, Blogger, and author of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing
    Helping Those Who Wear The White Coat Get A "Fair Shake" on Wall Street since 2011

    #164226 Reply
    Avatar Kamban 
    Participant
    Status: Physician
    Posts: 2569
    Joined: 08/01/2016
    Is every one plagued by this magazine? If so does anyone actually read it?

    Click to expand…

    I used to get it years ago when I did some internal medicine. Thankfully as a sub-specialist they don’t send it to me as they are targeting primary care and I don’t fall into that category anymore.

     

    #164230 Reply
    CordMcNally CordMcNally 
    Participant
    Status: Physician
    Posts: 3012
    Joined: 01/03/2017

    I’ve never heard of it and by the way it sounds, I’m glad I don’t have to expend the effort of being the person who has to transfer it from the mailbox to the trash can.

    “But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
    ― Benjamin Graham, The Intelligent Investor

    #164233 Reply
    Drop it into MD Drop it into MD 
    Participant
    Status: Physician
    Posts: 440
    Joined: 09/20/2018

    Thanks for the information!  It will be transferred to my trash even quicker now if that is possible.

    #164237 Reply
    Avatar wawot1 
    Participant
    Status: Physician
    Posts: 53
    Joined: 10/05/2017

    I have a different take on it. Rather than transferring it to the trashcan, I transfer it directly to the recycling bin.

    I can’t remember…is this one of the throw-away journals that, to add insult to injury, also arrives wrapped in plastic? Drives me nuts!

    #164292 Reply
    Avatar StarTrekDoc 
    Participant
    Status: Physician
    Posts: 2126
    Joined: 01/15/2017
    Earnest refinancing bonus

    It’s a throw away journal that does peak my interest once in awhile.   Quick browse of the headlines and into the recycling bin.   Can’t say my Mayo Proceedings gets much more attention either most of the time too sadly.

    #164293 Reply
    Drop it into MD Drop it into MD 
    Participant
    Status: Physician
    Posts: 440
    Joined: 09/20/2018

    yes of course.  Recycling can is what we mean.

    Also the pages turn into paper airplanes and hats.  Kids love to play with garbage.

    #164294 Reply
    Liked by G, Anne
    The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4600
    Joined: 05/13/2011

    I think you actually have to be running a competing business to really understand how this works. You wouldn’t believe how many of these similar articles I am offered as guest posts. It’s a well-known marketing technique for advisors.

    Pumping out content gives me eyeballs on pages and eyeballs on pages can be sold to advertisers. Luckily, I have plenty of content and can turn down the vast majority of guest post offerings. I suspect these publications are not that lucky. They’re becoming even less lucky as their readership becomes stagnant due to low quality content.

    Just to give you a sense of where these publications stack up:

    MD Magazine Alexa Rank of 102,000

    Medical Economics Alexa Rank of 205,000

    Those numbers are comparable to Physician on Fire and Passive Income MD respectively, blogs started and run by a single part-timer for a mere 2-3 years. I don’t know how many years Medical Economics has been around, but it’s got to be 10+ isn’t it? I don’t know how many people are working at MD Magazine, but I suspect it is in the dozens.

    Content matters and embracing low quality content hurts you in the end. If you can’t write it yourself, you have to either pay for it (which may eat up all your revenue and more), beg for it, or accept low quality content (you can always get that.)

    This isn’t unique to physician specific sites either. You all know I’m writing for Forbes this month. I’m embarrassed to tell you how little compensation I’m doing it for. It’s not quite free, but it’s far closer to free than it is to what I make in the ED. (It actually is free in any month I don’t contribute at least 5 posts). Tough to get good content for long paying like that.

    So why am I writing there? Same reason financial advisors write for medical economics and MD magazine. That’s where the eyeballs are and we’re all trying to promote our businesses. Alexa Ranking of Forbes.com? 283. That’s in the same range as Foxnews.com, CNN.com, and BBC.com, nytimes.com etc. The main reason people write for less than their time is worth is for marketing purposes.

    Site/Forum Owner, Emergency Physician, Blogger, and author of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing
    Helping Those Who Wear The White Coat Get A "Fair Shake" on Wall Street since 2011

    #164498 Reply
    Avatar StarTrekDoc 
    Participant
    Status: Physician
    Posts: 2126
    Joined: 01/15/2017

    I’ve been getting Medical Economics since residency and that’s a long time ago 😉

    #164506 Reply
    Avatar Kamban 
    Participant
    Status: Physician
    Posts: 2569
    Joined: 08/01/2016
    is this one of the throw-away journals that, to add insult to injury, also arrives wrapped in plastic? Drives me nuts!

    Click to expand…

    I try and use the scissors to remove the plastic cover before placing the magazine in recycle bin but on some days the number of these enclosed magazines is too much and I am too tired to remove the outer wrap.

    Am I a bad boy by throwing them still covered in plastic, in the recycling bin?  😎

    #164553 Reply
    Avatar Kamban 
    Participant
    Status: Physician
    Posts: 2569
    Joined: 08/01/2016

    Can’t say my Mayo Proceedings gets much more attention either most of the time too sadly.

    Click to expand…

    Took a long time to unsubscribe from Mayo. They just would not take No for an answer.

    Surprisingly I have been getting NEJM for free for the past 5+ years. No idea why since I never subscribed to it, am not a thought leader, or in academics or do research.

    #164554 Reply
    Drop it into MD Drop it into MD 
    Participant
    Status: Physician
    Posts: 440
    Joined: 09/20/2018

    I have several NEJM duffel bags.  Not sure why they keep sending me them???  But they are more useful then the publication IMO.

    #164577 Reply
    Liked by Kamban
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1863
    Joined: 01/08/2016
    is this one of the throw-away journals that, to add insult to injury, also arrives wrapped in plastic? Drives me nuts! 

    Click to expand…

    I try and use the scissors to remove the plastic cover before placing the magazine in recycle bin but on some days the number of these enclosed magazines is too much and I am too tired to remove the outer wrap.

    Am I a bad boy by throwing them still covered in plastic, in the recycling bin?  ?

    Click to expand…

    Hm…our recycler takes plastic, but I never considered it might not be the acceptable kind of plastic….

    I used to get a copy of one of those physician health magazines.  I sent an email to the publisher and asked to be removed from their mailing list.  Now I each time, I get ten copies.  Ten.  I haven’t reached out to them again for fear of the consequences.

    #164582 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 8325
    Joined: 01/09/2016
    So why am I writing there? Same reason financial advisors write for medical economics and MD magazine. That’s where the eyeballs are and we’re all trying to promote our businesses. Alexa Ranking of Forbes.com? 283. That’s in the same range as Foxnews.com, CNN.com, and BBC.com, nytimes.com etc. The main reason people write for less than their time is worth is for marketing purposes.

    Click to expand…

    What is the Alexa rank for PMD?

    Johanna Fox Turner, CPA, CFP: I am not your financial advisor; any responses are for general purposes only
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #164600 Reply

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