"I have frequently told physicians and dentists that the first really good personal finance and investing book you ever read is likely to be worth $2 Million to you over the course of your life... This is a $2 Million book." ~ James M. Dahle, MD (The White Coat Investor)
Most Recent Posts
There is one simple reason why most physicians do not get rich early in their careers – the Big 5. Learn how to get rich by avoiding the Big 5 expenses until you are at a point that you can afford them.
Despite it being a simple premise, Americans buy things that they cannot afford all of the time. Not only does this post include a link to a hilarious (yet true) video on the idea of waiting til you can afford something to buy it, but it is also filled with practical advice on how to spend less. This will then allow you to save more. Tag along as we discuss a simple, yet effective truth.
When someone asks “How does my financial advisor get paid” it should be a relatively easy question to answer and understand. Unfortunately, that’s not the case much of the time. Fortunately, this post will not only answer that, but provide you an awesome chart to see exactly where conflicts of interest exist in all of the most common financial advisory models!
FIRE is all the rage lately, but I often feel like it can prove unhealthy – particularly for those of us early in our careers. Come see why I think you should choose FI over FIRE.
Whenever I tell people outside of medicine how bad doctors are with money, they are always shocked. Almost universally they wonder why we don’t save enough money. They understand that – in order to become a doctor – you must be hard working, intelligent, and dedicated to the cause. These are the same attributes – when they are applied correctly – that result in financial success. How in the world can doctors be bad with money, then?
I thought about naming this post “Children on FIRE” or “Teachings Kids to Play with FIRE”… but none of those sounded right. Since I didn’t write this post originally, which was first published over at Physician on FIRE, I decided to tame down the title…. never the less, this is a really important topic that all parents should spend some time thinking about.