If I could go back to the beginning of my investment journey, there are a few key things I’d do very differently.
Like many physicians, I started out excited and motivated. I wanted to build wealth, create freedom, and take better control of my financial future. But I also had no roadmap. I made some smart moves, a few lucky ones, and definitely some mistakes. Those mistakes became lessons, and those lessons shaped how I invest and teach today.
This post isn’t about regret. It is about growth. It is about helping you move faster, avoid common traps, and invest with more clarity and confidence.
Whether you are just starting out or feeling overwhelmed by the many options available, this is for you.
Disclaimer: This article is for informational and educational purposes only and does not constitute financial, legal, or investment advice. Any investment involves risk, and you should consult your financial advisor, attorney, or CPA before making any investment decisions. Past performance is not indicative of future results. The author and associated entities disclaim any liability for loss incurred as a result of the use of this material or its content.
1. Focus More on Financial Education Early On
When I first got into investing, I jumped in before I fully understood the basics. I didn’t really grasp core concepts like cash flow, leverage, or how taxes work with investments. Honestly, I didn’t even know what I didn’t know.
I remember putting money into my first real estate syndication and not even knowing when I was supposed to receive distributions. I didn’t understand how the deal worked, what the timeline looked like, or what kind of return I should expect. I trusted someone else and hoped it would work out. Thankfully, it did, but looking back, I know I was flying blind.
If I could start over, I would dedicate more time upfront to financial education. Not to become an expert, but to become a confident decision-maker. Just a few hours a week reading, listening to podcasts, or talking to mentors would have made a huge difference.
What I’d do differently: Make financial education part of your weekly routine.
Resources I recommend:
2. Define Clear Goals Before Making Investments
In the early days, I chased everything. Stocks, crypto, real estate, startups. If it looked interesting or had potential for big returns, I wanted in. But I had no clear direction. I didn’t know what I was building toward.
Without clear goals, it is easy to spread yourself thin or invest in things that don’t serve your long-term vision.
If I were starting again, I would ask myself a simple but powerful question: What do I want my life to look like in 5 years, in 10 years?
For some, it might be cash flow to reduce clinical hours. For others, it could be long-term appreciation, legacy wealth for their kids, or complete financial freedom.
Then I’d choose the investments based on whether they’d help me accomplish my goals.
What I’d do differently: Define the end goal first, then choose investments that support that goal.
Practical tip: Get specific. Are you investing for time freedom, passive income, generational wealth, or early retirement? Let that guide your strategy.
3. Start Investing in Real Estate Sooner
Real estate was something I avoided at first. It felt big and unfamiliar. I spent too much time trying to figure out which type of real estate was “best.” I overanalyzed instead of taking action.
When I finally took the leap, I realized real estate was the most transformative part of my financial journey. Not just because of cash flow or appreciation, but because of the control, leverage, and tax benefits it provided.
What I’d do differently: Start sooner, even if it’s a small deal. Learn by doing.
You don’t need to start with a large apartment building. It could be a single-family rental, a short-term rental, or your first syndication. Start somewhere.
Bonus: The tax benefits alone are massive for high-income earners like physicians.
4. Be More Intentional About Diversification
At one point, I was all in on stocks. At another, I was invested in so many different things that I couldn’t keep track. I had no system or strategy behind how I diversified.
Over time, I realized that true diversification is not just about owning different asset classes. It is about balancing risk, liquidity, and time horizon. It is about building a portfolio where every investment has a clear role.
What I’d do differently: Create a mix of active and passive investments, some focused on cash flow, some on long-term growth, and others on stability.
5. Pay Attention to Mindset as Much as Money
One of the biggest lessons I’ve learned is that mindset matters just as much as strategy. In fact, it might matter more.
What held me back early on wasn’t lack of money or access. It was fear. Fear of making a mistake. Fear of looking foolish. Fear of not having all the answers.
I waited for the perfect time, the perfect deal, the perfect plan. And that waiting cost me time and opportunity.
What I’d do differently: Invest in mindset early. Read personal development books. Work with coaches. Surround yourself with people who are thinking bigger.
Success starts with believing it is possible and taking action before you feel fully ready.
6. Stop Trying to Do It All Alone
In the beginning, I thought I needed to figure everything out by myself. I believed that before I made any moves, I had to fully understand every term, every strategy, every market. That perfectionist mindset kept me in research mode for way too long.
I now realize that trying to do everything on your own slows you down. The truth is, you do not need to have all the answers to get started. What you need is to surround yourself with the right people.
Everything changed when I joined a community of like-minded physicians who were also investing and building wealth. Being in a space where others were asking similar questions, sharing their experiences, and taking action gave me the confidence to move forward. I learned faster, felt supported, and stopped second-guessing every decision.
What I’d do differently: Find a trusted community or mastermind early on. Ask questions, share your goals, and learn from others who are just a few steps ahead.
Example: In my first real estate syndication, I didn’t know everything—but I was connected with a group that had vetted the operator. I leaned on their experience and learned along the way. That one decision jump started my investing journey.
You don’t need to do this alone. And honestly, you shouldn’t. Community can be your greatest shortcut.
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Final Thoughts: It’s Never Too Late
Looking back, every mistake I made taught me something valuable. Every delay, detour, and misstep gave me the experience I now use to help others navigate their own paths. If you’re just getting started or feel like you’re behind, I want you to hear this clearly: you are not too late, and you are not alone.
The most important part of the journey is not doing everything perfectly. It is deciding to move forward with intention. Progress always beats perfection. You do not need to know everything to start, you just need to take the next right step.
Whether you are 25 and exploring your first investment, or 55 and finally ready to build something beyond your clinical career, the best time to invest with clarity is right now. Time is still on your side. And the sooner you start aligning your money with your purpose, the sooner you begin creating a life that feels more free, more fulfilling, and more in your control.
You have already done the hard part, training for a profession that demands everything from you. Now it is time to let your money and your mindset start working just as hard for you.
So take a breath, get clear on your goals, and make your next move. The future you’re hoping for starts with the decision to begin today.
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Peter Kim, MD is the founder of Passive Income MD, the creator of Passive Real Estate Academy, and offers weekly education through his Monday podcast, the Passive Income MD Podcast. Join our community at the Passive Income Doc Facebook Group.
Further Reading