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?
By this point, a lot of people have heard the famous Dave Ramsey quote, “If you live like no one else, later you can live like no one else.” Ramsey is known for being a proponent of attacking debt aggressively when people ask, “How should I pay off my debt?” He proposes one method that I … Read more
It’s really important to know where your advice is coming from and how the person giving you that advice gets paid. Conflicts of interest are given at the beginning of every talk for a reason. They can be powerful. For example, how someone answers the question of whether you should be investing your money or … Read more
Today’s post can be found on White Coat Investor where I discuss Fellowship Opportunity Cost. In other words, how much does it cost you (debt, investments, and otherwise) to pursue a fellowship. I even include a calculator to help you figure it out! Let’s calculate your Fellowship Opportunity Cost today.
When your life goals have you pinned up against the wall, it’s time to fight back. Today, I talk about how I fought back to achieve both my investment goals and my goal to destroy my debt. With a fixed timeline to get my little girl to a different school by 2019, I had to become a little more intentional about paying off debt faster.
On a recent forum that I visit, a poster questioned everyone on whether it was worth taking a big trip to Europe after finishing his first licensure exam (USMLE Step 1). What the person was really asking is…. “Is it worth it to minimize debt?” That’s what we will discuss today.
When I was in residency, residency refinancing companies did not exist. If you read part 1 of this series or are considering private refinancing options, then this post will help you pick the best company for you.