Practical Investing Advice for Doctors: The Pareto Principle
The premise of the Pareto Principle is that 20% of the work will give you 80% of the results. Here's the 20% doctors need to know about successful investing.
The premise of the Pareto Principle is that 20% of the work will give you 80% of the results. Here's the 20% doctors need to know about successful investing.
Compared to other specialties, Emergency Physicians enjoy significant financial and lifestyle benefits. Here are 6 financial benefits of Emergency Medicine.
An interview with financial educator, Michael Kitces discussing the financial advising industry -- advisory fees, fiduciary duties, raising the bar, and more!
The best investment strategies are used over and over again, decade after decade, to make your savings last for the long-term.
Driving an inexpensive car is a wealth-building machine. The difference between driving a $5,000 car and an expensive one is over $1 million in a lifetime.
Variable annuities are usually a product designed to be sold, not bought. But it is possible for the benefits of a low cost VA or IRA to outweigh the downsides. It's all about time and tax-efficiency.
Physician on FIRE may be retired from medicine but he and his family are still making charitable giving a top priority via their Donor-Advised Fund (DAF).
If you're sick of your mortgage, use one or more of these 10 techniques to pay off a mortgage early and get it out of your life.
Should you change your student loan plan based on political talk of canceling loans? We discuss this, plus multiple 401(k)s, VTI vs VTSAX and lots more.
When should you drop a COLA Rider? Should you pay extra for a Future Purchase Option or Retirement Rider? Dr Disability answers these and lots more physician-specific insurance questions.
My kids will get the most valuable part of their inheritance long before I die. In fact, they'll be getting a 5-part inheritance, mostly in their 20s.
"How do I lower my taxes?" is the wrong question to ask. Know enough about our tax system to make sure you're asking the questions that really matter.
There are now more options than ever to refinance your student loans while still in residency. Easy payments and less interest accrual is a winning combination for those not going for PSLF.
After much thought, our portfolio is changing this year from one reasonable portfolio to another. We'll see how it goes. Update in a decade.
Doctors are busy. Luckily, you don't have to spend much time on financial chores compared to what was needed in the past. Nearly every step can be automated. Here are 8 steps to automate your financial life and help you reach your goals of financial freedom.
Student loans stink. To make matters worse, figuring out what to do with them can seem complicated. Here I present a flowchart that should help clear up the confusion.
Rich people don't "manage" debt. They eliminate it. Not stupidly, but reasonably and consistently. It's a behavioral thing, not a math thing.
Disability insurance is a key type of insurance for the vast majority of physicians and other high-income professionals. Buy it right the first time and you may never have to do it again.
Roth IRAs have a lot of advantages with regards to investing, tax reduction, asset protection, and estate planning.
Peer to Peer Lending (P2PL) is a relatively new asset class I've been investing in for a few years with good success. The risks are high, but the low correlation with the rest of your portfolio coupled with the high returns make it worth looking into.
Bloggers and authors often tell you that you'll be super happy once you're financially independent. They might not know what they're talking about.
Graduating medical students (and especially their spouses) have a burning desire to buy a house to feel like they've finally made it. If they're smart, they'll curb it. Buying a house in residency is a huge gamble of your time and money at a period of life when you have little of either..
Don’t make these seven common mistakes that cause doctors to fall short in reaching financial success.
The secret to becoming a wealthy physician is contained in these four words: "Live Like A Resident." If you're earning like an attending, but spending like a resident, you will become very wealthy, very fast.
A good portfolio is broadly diversified, low-cost, passively managed, regularly rebalanced, and consistent with its owner's need, ability, and desire to take risk.
This Backdoor Roth IRA tutorial takes you step by step through the contribution process including how to fill out IRS Form 8606. We'll show you how to get it done right and avoid mistakes that can cost you time and money.
Every investor should have a written Investment Policy Statement. Here are a few pieces out of mine and ideas for what you ought to consider including in yours.
Financial knowledge isn't enough. Without the X Factor, you'll never reach financial success. Motivation breeds hard work and discipline, which in turn breed wealth.
Guest blogger Dr. Wise Money explains how REPAYE works and shows how you can decide if it is right for you. The lower your income and the higher your debt, the more likely REPAYE is for you.
One of the pearls Dave has contributed to the personal finance lexicon are his "Baby-Steps." They seem aimed at the financially clueless, but they still have merit for the more knowledgeable.
People take too long to kick Sallie Mae out of the spare room. Here are ten reasons why you should pay off those student loans in 2-5 years.
Residents are busy folks. Their time is consumed with clinical work, clinical learning, and sleep. What extra time they have should be spent with their loved ones and on other activities that keep t...
Mark all as read
|
Clear