How Should A Doctor Learn About Personal Finance?

how should a doctor learn about money

It is the time of year when freshly minted interns are about to be made, and graduating residents are about to become brand new attending physicians.  So, I thought it might be helpful to outline how I created and then maintained my personal finance knowledge base during those times of transition.  Specifically, this post is … Read more

How Do Financial Advisors Get Paid? A Financial Planner’s Perspective

Financial Conflicts of Interest

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!

4 Reasons Doctors Don’t Save Enough Money

save enough money

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? 

5 Reasons Investing in Individual Stocks is for Losers

Should I invest in individual stocks

Many people have enjoyed the successes (and more often the failures) of investing in individual stocks. If you have ever wondered if you should invest in individual stocks, this post is for you. And, if you currently do this sort of thing, I might call you a loser in this post. Read it at your own peril.

Mo’ Money, Mo’ Problems: Mastering Happiness Economics

Happiness Economics

The relationship between money and happiness is complicated. Left to our own devices, most people just don’t get it. The sooner we understand this important relationship, the more likely we are to find that happiness we’ve been looking for. Otherwise, we’ll just saying, “Mo’ Money, Mo’ Problems.”

Alternative Minimum Tax (AMT): Will I pay the AMT?

Alternative Minimum Tax: AMT

The Alternative Minimum Tax (AMT) is an archaic tax law that was originally intended to make sure that high income earners were “paying their fair share.”  As if the tax law was not complicated enough, the tax law experts thought it necessary to not only calculate your taxes once, but twice.  The first time it is calculated through the regular methods (brackets, etc) and the second time through the AMT.  Whichever is higher is the tax you pay.  So, today we will answer the question “Will I pay the AMT”

Making a Personal Finance Curriculum

making a personal finance curriculum

Recently I felt a bit like the dog who finally caught the tire he was chasing. I’ve been tasked with making a personal finance curriculum for the senior MD, PA, and SRNA students at my medical school. Now, I need your help! Please, leave a comment and let me know what you think are “musts” to include!