You Are a PhD, So Why Is Money Still a Struggle?

You studied for years, worked harder than most people will ever understand, and earned a PhD — so why does money still feel like a constant worry?

If this sounds familiar, you’re not alone. In this issue, you'll understand the real reason why financial stress haunts even the most educated — and discover practical, doable options you actually have as a PhD to take control of your money.

Read carefully, reflect deeply… but most importantly: Take action!

Feeling Financially Insecure? You're Not Alone: Welcome To The Jungle Baby!

Somewhere along your scientific journey — between the pressure to publish or the endless grant applications — you may have stared at your bank account and asked:

You may also be questioning 'Did I choose the wrong path?', or one my favorites 'Will I ever 'make it' financially?'

Let me tell you: those questions are normal. What’s not normal? That no one educated us to understand money. But you need to know this:

In fact, you are smart. You're a professional, you've earned a title, maybe even more than one. However, in spite of your achievements, here's the brutal truth:

For the record: That youtuber kid you were thinking about might be making lots of money now, but if he doesn't understand how to keep it and control it, he doesn't understand the game of money at all. All three actions are essential to create financial independence: Keep, grow and control.

Why You May Not Know Much About Money?

Here’s the honest answer:

Most of us grew with virtually no financial foundation. In fact, there are many PhDs out there— and professionals widely speaking— successful in their careers and yet, financially illiterate.

In fact, a 2022 study by the TIAA Institute found that nearly 60% of people with postgraduate degrees rate themselves as having low financial literacy. And yes — that includes economists and finance professionals too!

And for scientists? Forget it! Most of us were handed a pipette before we ever learned how compound interest works. We were trained to think and look for explanations, to write papers and win grants — not build assets or design income streams.

Academic success no longer guarantees financial success. There are millions of “successful” professionals out there — with PhDs, big titles, and grants — living paycheck to paycheck, with no freedom, no options, and no plan.

We thought academic success = life success. But that equation just doesn’t hold up anymore.

How Can You Become Smart With Money?

Let's start here:

• You don’t need an MBA to become financially independent.

• You don’t need to leave science (unless you want to).

• You already have the brainpower — now you just need the financial literacy.

And financial literacy starts with the basics:

• Knowing the difference between assets and liabilities.

• Understanding how money flows in and out of your life.

• Learning to keep and grow more of what you earn.

• Making decisions with long-term impact, not short-term stress.

Simple skills that anyone can learn — even us PhDs.

Your Options To Start Your Financial Freedom Now!

Don't get me wrong. You don’t have to leave research or burn your career to the ground. There are ways to start building wealth now. Here are a few:

1. Climb The Academic or Corporate Ladder

It’s the “safe” path, but also the slowest. Wages tend to plateau. Promotions can be political. And your time? Always traded for money.

2. Become a Founder or Entrepreneur

Start a consultancy. Build a biotech. Launch a niche service. Risky? Yes. But many PhDs thrive in this space once they reclaim their creativity.

3. Keep Your Job — But Build Assets On The Side.

A high-yield savings account, index fund, or rental property can start generating passive income while you sleep (yes, really).

4. Monetize Your Skills In New Ways.

Consulting. Teaching. Scientific talks/writing/illustration. You already have knowledge people will pay for — you just haven’t packaged it yet.

4. Create Once, Sell Many Times.

This is how scientists with side gigs build real leverage: think eBooks, lectures, YouTube channels. One-time effort, recurring income.

5. Learn to Invest Smartly.

Stocks, real estate, even crypto (if done responsibly). I'm talking long-term strategies backed by data.

6. House Hack.

Buy a property, live in one room, rent out the rest. It’s like sharing a lab bench — but way more profitable.

7. Learn to Build Wealth Outside Your Job

This is the core principle. Even if you love your research, don’t rely on your job as your only income stream.

You May Be Poor, But You're Not Hopeless

Robert Kiyosaki, author of Rich Dad, Poor Dad, often refer to PhDs as 'P-for Poor; h- for hopeless; D, for desperate".

I disagree.

Although I've learned a big deal from some of his learning, especially regarding real estate, I believe we are not hopeless.

You don’t need to be ashamed of what you don’t know about money. You weren’t supposed to know. But now you will. And that changes everything.

You’re not too late. You’re not too “academic.” You’re not bad with money. You’re just at the beginning of a new journey — and I’ll be here to guide you through it.

Stay tuned for the next episode of The Financially Independent PhD — and until then, remember:

Until next time.