Money Meets Medicine Podcast
MMM #24: The Two Paths to Financial Independence
There is a heated debate in the personal finance arena. What is the best route to financial independence? Is it through passive income (like real estate) or through passive index fund investing and a safe withdrawal rate?
Where do you sit in this great debate? Listen to today’s episode to find out.
What You’ll Learn:
In this episode of Money Meets Medicine, “The Two Paths to Financial Independence,” you’re going to learn:
- Which method of earning financial independence is better for you!
- What kind of passive income routes you can take.
- Why passive income may not exactly be passive.
- Why a hybrid of the two methods might be the best.
- And more!
Quotes to Remember:
“If you fully stop work, your investments have to earn the paycheck for you!”
“As long as any income stream you have is something you’re passionate about… I think you can look at it as a passion project and source of income in retirement.”
“It’s the iceberg effect. You only see the top little bit, you don’t realize all the hard work that went into everything down below.”
Resources from the Episode:
The Hybrid Model of Financial Independence
The List of Physician Side Hustles
Chasing Financial Independence
This Episode’s Sponsor
This episode is brought to you by Doug Crouse at doctor loan expert .com
Purchasing a home is one of the largest financial decisions your family will make and Doug is here to put his experience to work for you.
Whether it’s your first home, a refinancing project or looking for the next home upgrade, Doug is focused on making a real and lasting difference. That’s why he takes the time to understand each of his clients’ unique home buying needs (as he has with my very own physician family). Doug personally helped us get our loan and we were blown away by his attention to detail and his stellar customer service.
He’s happy to answer any questions you have about your home loan, and has helped thousands of borrowers over the years find the homes of their dreams.
Reach out to Doug at doctor loan expert .com. Or by phone, which is probably easiest at 1-816-728-3631.
Listener Question of the Week:
Today’s listener question comes from Grayson Ashby, our medical student friend from Mayo:
“In your experience, what is the most efficient/effective way to organize and keep track of personal finance records, budget, retirement info, etc.?”
Each episode, we are going to start including listener questions as they are provided to us. So, if you have a specific question you’d like answered on the podcast reach out to us! Email [email protected] or [email protected]
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The most important thing mentioned in this podcast: Harlan Coben!!! I’m dying to see Myron and Win on the big screen but I’m also terrified they’ll mess it up. My dad and I have argued at length who we’d cast. Our front runner for Win is Simon Baker.
Speaking of Win, did you know this was on the horizon:
But I digress.
Love the show as always!