Who Doesn’t Love a Free Book?Before we get to the nitty gritty of the upcoming book, including who I couldn’t believe said yes to writing the foreword, I want to share a secret with you. What you need to know is that after it comes out, I will be having a promotional offer to all of my email subscribers. For a limited time (sorry if you read this post late!), the book will be free for download on Amazon (Kindle). So, if you are interested in snagging a free-copy or emailing your entire medical school or residency class to let them know when they can do the same, then I encourage you to subscribe to The Physician Philosopher email list. All you have to do is put your email in below. That’s the only way you will know when you can snag your free copy. Otherwise, it’ll be retail price after that.
What’s in The Book?Well, first, I should say that I couldn’t decide on the main title for a while. For 90% of the time I was writing, it was simply called “The Physician Philosopher Book”. Despite the issues with the main title, I settled pretty early on the subtitle: “The 20% of Personal Finance Doctors Need to Know to Get 80% of the Results.” It’s based on the Pareto Principle (and respecting your time). Based on the subtitle, you might be able to guess that the purpose of this book is to serve as a primer for physician finance. The target audience is the same for the book as it is for the blog – medical students, residents, fellows, and early career attending physicians – though many other medical professionals could also benefit from reading the book. As you’ll be able to tell by the chapter titles, the book has a chronological nature to it such that anyone could pick up the book and find the pertinent information for them. While best read from cover to cover, it’ll remain an easy resource for people at various times in their training and practice. Without further ado, here is the chapter list for the book:
- Personal Finance Basics
- Conflicts of Interest
- Financial Choices in Medical School
- The Pareto Principle for Residency
- Student Loan Debt Management Part 1: IDR and PSLF
- Student Loan Debt Management Part 2: Private Refinancing of Student Loans
- Personal Finance During Residency
- Live Like a Resident (AFTER residency)
- A Tale of Two Doctors
- Investing After Residency
- How much do I need?
- Asset Protection
- The Balance
Foreword by The White Coat InvestorOne of the most exciting moments in writing this book, aside from when it was completed, was having Dr. Jim Dahle of The White Coat Investor agree to write the foreword for the book. It must not be the worst book ever written after all! Maybe someday it’ll even make White Coat’s Recommended Books for Doctors! All joking aside, I need to thank Jim for trailblazing this path that many of us are on, and for being willing to write the foreword despite his busy schedule! In fact, when I asked him about sending him the final copy and how long it would take to have the foreword written to be able to anticipate a publication date, he told me to send him the rough copy. He wanted to read the book and write the foreword while he was vacationing!
What Can I Expect to Learn?The book will be about 200 pages in the paperback form, which will be published shortly after the e-book comes out. I think keeping it brief is critical given the limited time constraints that people have in medicine (and in general). For the specifics on what you can expect, I’ll copy this straight from the introductory chapter in the book:
I will cover a lot of topics in this book in a relatively brief amount of time. Trust me, I know how busy you are and I am not trying to make your life any busier! Here are some of the essential topics: ● Investing basics (compound interest, time in the market versus “timing” the market, etc.) ● Investing specifics (types of vehicles, solid investment plans, and examples) ● Specifics on how to attack your student loans ● Paying off debt versus investing (or both) at various stages ● Asset protection (life, disability, umbrella insurance, etc) ● Where to get financial advice and identifying where conflicts of interest exist ● Why lifestyle inflation matters after training and how it can wreck your life Ultimately, this book is a “how-to guide” on achieving financial success without having to learn all of the intricacies. You will be able to do it all yourself. If that sounds daunting, just let me take you on a little ride. If by the end of it all you still feel overwhelmed, then by all means give me a shout and I’ll be happy to help point you in the right direction.
Take HomeA lot of work has been put into writing this book, and it is the one I would have wanted to read when I was a trainee. So, I really hope that you will consider signing up for the email subscription list, and email blast all of your colleagues and learners with the opportunity to get a helpful book for free as well. If you read it, and decide that it’s worth sharing rating it on Amazon would also be extremely helpful. That’s the best way to make sure it gets in front of the people who need to read it most.
Do you know people who would benefit from a book like this? Would you mind sharing it with them? If you want free access to it, then I encourage you to sign up for the email list.