How to Save a Million Bucks Before You Become a Law Firm Partner
Attorneys can become millionaires too, even if (or perhaps especially if) they work in Big Law.
Beginning your financial journey and learning about personal finance can seem awfully overwhelming. But instead of trying to solve the entire puzzle at once, it’ll be easier (for your mind and for your psyche) to break it down into sections that are more easily digestible.
Attorneys can become millionaires too, even if (or perhaps especially if) they work in Big Law.
One of the lessons frequently taught to me growing up was that I was free to choose anything I like, but that I wasn't free to choose the consequences of my choices. Those were attached to the choices, like two ends of a stick.
Medicine is a wonderful career and calling. But that doesn't mean a physician can't be an entrepreneur. If you already have the entrepreneurial bug, here are some tips. If not, maybe I can inspire you to look at the world in a way that is a bit more entrepreneurial.
Well, we did it. We paid off the mortgage and are debt-free. It feels good to accomplish one of our major financial goals.
It's a pretty good life. And it's yours for the taking. The only cost is living like a resident for a few short years after training when you really don't even know what you're missing yet.
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Medicine has its advantages and disadvantages as a career. But what you really think about it is revealed when you are asked, "Would you be supportive of your child's interest in medicine?"
Many doctors looking to boost their income consider doing medicolegal or disability consulting. If you have interest, there are many resources to help you expand your practice.
Over the years, I'm gradually becoming more productive. Here are some of the things I have learned. Hopefully you can apply some of them to your life.
Prenuptial agreements are a touchy subject. But given the high divorce rates in our society, they should be considered, especially by those coming into the marriage with significant assets or children from a prior relationship.
Emergency funds allow you to take on many risks, avoid debt, and avoid selling low. But don't be dogmatic about them--the opportunity cost is real, especially for those who are not rich yet.
Lifestyle inflation can damage your financial life. Understanding how it impacts your finances and having strategies for handling it are key.
Some successes come from luck, while other successes come from smart decisions. But a great deal of financial success comes from putting yourself in a position where luck can do its thing.
A pre-med worries about the upcoming debt tsunami he is signing up for. What advice do you have for him?
Personal finance is both personal and financial. Be sure you attack it from both behavioral and mathematical perspectives.
P.A.s face similar financial issues to physicians, but with some key differences. But whatever your income, the first things you learn about personal finance and investing are very high yield.
Medical school may not have taught you about money, but we will.
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Get ready to take control of your financial life. You can do this, and we can help.
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