Category Archives: Finance

Real estate syndication 101: a physician’s guide

127 Shares Share Tweet Share Many physicians are looking for alternative sources of income and are looking for ways to diversify their investment portfolio from the volatility of the stock market. Some have heard of real estate syndications, but what exactly is a syndication? For those who have not heard of it, real estate syndications … Continue reading

I don’t plan to buy a home after medical school. Here are 12 reasons why.

43 Shares Share Tweet Share I’m a graduating fourth-year medical student, and as most physicians know, this has been one of the best years of my life. I just matched into my top choice residency and am one step closer to becoming a primary care sports medicine physician, my dream job. Many of my classmates have capitalized … Continue reading

This doctor paid off $200,000 in student loans in 19 months. Here’s how.

6 Shares Share Tweet Share There are some milestones that need to be appropriately celebrated.  For the 80% of physicians who graduated with student loan debt, paying those loans off certainly qualifies as such a moment.  Everyone has a different way of tackling their student loans.  Today, I want to outline how we paid off … Continue reading

Why many doctors live paycheck to paycheck

599 Shares Share Tweet Share Wealth seems to be an elusive dream for many people. They desire to become wealthy, but feel they don’t earn enough money to reach that goal, as if earning more would make the difference. A study of 10,000 millionaires presented in Chris Hogan’s new book, Everyday Millionaires, showed that 69% of these millionaires … Continue reading

Is the physician financial independence community preaching to the choir?

0 Shares Share Tweet Share Proof of concept is important because accountability is a tenuous thing. One can pretty much say whatever they want on the internet. They can boast. Spin half-truths. Tell a tale. The most deadly of these are the ones that are just a slight variation of reality. Personal finance is no different. … Continue reading

3 tools doctors can use to prevent burnout

244 Shares Share Tweet Share It was a beautiful warm mid-July morning in Minnesota. And I was taken by surprise by my feeling of complete and utter contentment. I was with my family bicycling around a lake on a smooth groomed gravel path surrounded by trees, ferns and so many shades of green my breath … Continue reading

Should I pay down my debt or invest in the market?

13 Shares Share Tweet Share An excerpt from The Physician Philosopher’s Guide to Personal Finance: The 20% of Personal Finance Doctors Need to Know to Get 80% of the Results. At my little girl’s golf practice one day, I got to talking to her coach. I asked him how he decided he wanted to be a … Continue reading

Physician negotiating: Go get what you’re worth

0 Shares Share Tweet Share Nearly five years into practice, I have negotiated my first contract, multiple pay increases, call compensation and independent contractor status. I prepared by researching my market value and reading about negotiation strategy. The following are some points I have learned along the way. If you negotiate in medicine, you may … Continue reading

Is financial independence selfish?

24 Shares Share Tweet Share Reaching financial independence is no small feat. One has to turn inward and explore personal habits, goals, and rebalance value systems. These are somewhat introspective topics. Indeed, they require quite a bit of self-focus. This, I believe, is good. If we don’t continuously re-evaluate our beliefs and actions then how … Continue reading

Government shutdowns show the importance of an emergency fund

6 Shares Share Tweet Share It’s interesting, but not surprising, to hear that numerous government employees are crippled by the delay of a single paycheck. This is precisely the reason everyone needs an emergency fund. When an unexpected financial catastrophe pops up, we need to be able to weather the financial storm. Many people consider … Continue reading