The Physician Investor

When I was 6 I went with my dad to cut lawns. When I was about 12 I started to cut them myself. In my junior and senior years in high school I worked more than 30 hours per week as a retail clerk at Graham’s Book Store in Granite City, IL. In the summers between college, and college and med school, I worked at Granite City Steel.
In 2016, I think the best part-time job a teenager, high school, college student could have is to clean houses. As time has gone on, I like cleaning house less and less (see below). The young lady I had for the last year has taken a full-time job in her preferred profession, so I’m looking again. The larger, full-time house cleaning services charge about $40 per hour. I think that is a first-class hustle: that’s more than RNs or teachers make. I have lined up a housekeeper from one of the local hospitals for $25 per hour.
1) The pay is far higher than a minimum wage job flipping hamburgs at McDonalds. A lot of people avoid hiring high school kids to mow their lawn because of liability issues (the reality of our over-lawyered culture). 15 hours per week x $25 = $400 per week. That’s serious money for a part-time, after-school job for a 16 year old.
2) By definition, the people who hire a housekeeper are successful folks who make a good salary and don’t have a lot of time, like a physician, attorney or businessman. These people can provide nice job references as time goes on.
3) You can wear this like a badge of honor: “I busted my chops, cleaning houses to make extra money, to pay my own way in life”. It will give you serious credibility. In fact, I can personally guarantee you that it pulls weight at the U. of Chicago (and presumably other elite scholls) because I asked the Dean of Admissions. He was telling us about all of the extra-curricular activities of applicants, such as sports, concert pianist, charitable work, etc. I wondered if I would still be competitive, because when I turned 16 I had no extracurricular activities because I worked all the time. He assured me that my application would instantly stand out.
4) The above applies, to a lesser extent, to babysitting. It now brings $10 per hour, and is a great way for someone to make extra money before age 16.
A young lady recently asked for some advice on her mother’s finances. Her mom is in her late 50s and recently widowed. She did not attend college and was a stay-at-home mom. She is having difficulty finding a job because of her educational level and especially no work experience.
RMD comment: I recommended that she consider housecleaning. The family has a good reputation, and no work experience is really not a factor here. $25 per hour x 6 hours (two homes at 3 hours each) per day x 20 work days per month = $3,000 per month = $36,000 per year.
RMD
My housekeeper came twice a month. I missed a cycle because of travel, so the house was a little dirtier than usual. Diane came over to go out to supper. She took two steps inside and said “Helen was here today, wasn’t she”?
RMD: “Is it that obvious”?
Diane: (with a scowl): “Yes”.
I don’t quote Karl Rove very often, but his comment in today’s Wall Street Journal sums up not only Monday night’s debate, but the campaign in general. ”Trump was rude and flip and Clinton failed to buck the status quo”.
RMD comment: I want so much not to vote for Clinton, but Trump is making it very difficult.

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Ideas for a High School Part-Time Job

Issue #Interim Bulletin #437A, September 29, 2016