The Monthly Checkout: October 2019

By Jimmy Turner, MD
The Physician Philosopher

Every month, I like to highlight some noteworthy posts that I’ve found. I pass them along to you so that you can enjoy them, too. The posts will involve topics that are often covered on this blog including personal finance, investing, physician burnout, and paying down debt. We then end with an update on the happenings in my life and the blog. So, read all the way to the bottom to hear the exciting news about The Physician Philosopher! Welcome to The Monthly Checkout for October 2019!

The New Wednesday Podcast Segment

Recently, I started podcasting regularly on the Financial Residency podcast. I am now co-hosting every Wednesday for the next few months. It’ll keep going after that if people enjoy the show. You can find the Financial Residency podcast episodes on any of your favorite podcast players (itunes, spotify, stitcher, etc). You can also find a corresponding blog post here on The Physician Philosopher on Wednesdays that also contains the podcast episode in a media link. Here are the blog posts, which feature the podcast media embedded in each post:

Two New Physician Blogs!

At the start of this monthly checkout, I want to send you in the direction of a couple of new physician blogs! In the last two years, I’ve learned all about the political nature of medicine. If you want to climb the ladder, you have to go about things in a certain way. Where I’ve failed to learn this lesson, you don’t have to do the same. Instead, you can read this post by The Nontraditional Doctor – an academic anesthesiologist and partner of mine – about the five lessons he learned from his previous career as a pharmacist. Once you’ve learned those five lessons about ways to achieve career progression, you might realize other mistakes in your personal finance life, too. To avoid these mistakes, The Scope of Practice has your back as he discusses the five most common finance mistakes doctors make from his perspective after years as a financial coach.

How Much Is Enough?

How much do you need to be financially indepnedent? “25 times your annual expenses, of course!” This is one of the most commonly taught principles in the financial independence called the “25X your annual expenses” rule. It is built and based from the classic 4% Safe Withdrawal Rate. Are there ever times where a you might want to exceed these rules? Physician on FIRE believes that there are at least five reasons to have more than 25 Years of Expenses Before Retiring. And I agree with every single one.

Stopping the Drip

“The Drip” is not a venereal disease, though it does sounds like one… however, it is a disease that I personally succumb to not too infrequently. It is important to pay attention to the symptoms that we all experience. Even when those symptoms are in our personal finacne lives. Don’t worry, though. Accidental Fire has your back in his post on how to be aware of the steady drip!

Should I Get Financial Advice from Northwestern Mutual?

I’ve gotten this question several times recently.  Because I am not in the business of bad-mouthing any particular companies (even if Northwestern was the company that led to my disability insurance debacle), I thought I’d recommend a post that would shine some light on this important topic instead. In this guest post (Written by a recommended financial advisor on The Physician Philosopher), Donovan Sanchez discusses what is was like to be a prior “financial advisor” for Northwestern Mutual.  Then, he discusses why he made the change.  If you don’t believe me, take it from him.

Should You Use A Reverse Budget?

Many of you know that I am a fan of backwards budgeting.  In fact, I hate traditional (or zero dollar budgets)! What then is a reverse budget?  And how do you go about setting one up? The Tired Superheroine is here to help you out in her post on the 5 steps to a reverse budget!

Giving Financial Advice with No Accomplishments

I love a good rant. When it comes to where you should get your financial advice from, it takes a good rant and has the potential to make it great! That’s exactly what happened over at ESI Money over the weekend! Tag along as ESI warns readers about being aware of fake money experts without accomplishments.

What is the Average Stock Market Return?

When we make our plans for how much we need to save for retirement, we often punch in an expected market return during our intended savings years.  What number do you punch in, though? That’s actually tougher question to answer than you think.  Don’t worry, though. Jim at Wallet Hacks has your back in his post as he answers the question what is the average stock market return?

Should We Say Goodbye to the 60/40 Portfolio?

In a fit of tounge and cheek, a wealth of common sense provides us a euology of the 60/40 portfolio.  Will we need to say goodbye to a portfolio that has seemed to otherwise stand the test of time going into retirement? For more information on how the 60/40 portfolio performs going into retirement, checkout this guest post on the best portfolio going into retirement.

Take Home

This month’s monthly checkout was cut a bit short as I worked on this post for two hours the other day, only to find that it didn’t save when it posted.  #BloggerProblems Please, check out the posts above.  They are worth reading, and worth the additional time I put into them this morning before rushing into work!


  1. TiredSuperheroine

    Losing a post 2 hours in is a true nightmare! You are a true example of grit my friend.

    Thank you for the feature!

    I’m excited to read about faux money experts…

  2. Dave @ Accidental FIRE

    “The Drip” is not a venereal disease…. HA!!

    Thanks for the feature dude!

  3. Brent Lacey

    Thanks for the shoutout to The Scope of Practice! I appreciate it!


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