While a doctor’s most important wealth-building tool is their income, and the more of that you can siphon off from your lifestyle in order to build wealth, and the longer you can do that, the better off you’ll be. And the key to all of this is patience. Learn how having just a little more patience can help you reach physician freedom.
Jimmy Turner, MD
There is a strong current sweeping through the American culture. It is filled with the counterculture of the financial independence community. How is this community different from others? Why should you join it? Keep reading to find out.
I often talk about how one of the ways to start practicing medicine because you want to and not because you have to it by reaching financial independence. In today’s guest post, Physicians on FIRE explains how this idea also prepared their for the pandemic in ways they never could have imagined.
Saving money is tough. Saving money during residency might be tougher. But is also might be more important. Join along as we discuss the importance (and benefits) behind investing during residency.
How to avoid costly financial mistakes and ultimately go through life with less weight on your shoulders after residency. Here is some of the best advice I can give any resident.
The Pareto Principle can be stated many ways, but the premise is that 20% of the work will get you...
In an effort to avoid the “Dad bod,” I decided to lose some weight. Read how the Physician on Fire lost 10 pounds in 24 days and what that has to do with personal finance.
What percentage of your annual income should you be putting towards your financial goals each year? If you haven’t answered this question, you probably should. The 30% Rule can help guide you.
Impatience is a disease that keeps high-income professionals stressed about finances and running on the treadmill to keep up with their lifestyle. Show some patience and you’ll have all the stuff you desire including financial independence.
Investing in your 401K/403B is a straight-forward decision, even if you are loaded up with debt. A much more complicated question to answer is whether you should contribute to your company’s deferred compensation 457 plan. Today’s post will answer the question, “Should I invest in my 457?” The What, when, and why.
Virtual assistants are a fantastic way to reduce your workload while simultaneously growing your practice or business. Learn exactly how an assistant can reduce your stress and increase efficiency.
A recent area in physician personal finance that has the same dilemma, which requires the Trust, But Verify method is PSLF (Public Service Loan Forgiveness). People often ask, “Can I trust PSLF?” My answer? Have a back-up plan.
And trust, but verify. Let’s dig in.