The Reason You Take Market Risk
You can't afford NOT to take market risk. For the majority of your career, high-income earners need to be invested in assets with a high expected return.
You can't afford NOT to take market risk. For the majority of your career, high-income earners need to be invested in assets with a high expected return.
There are 6 easy steps to successfully contributing to the backdoor Roth IRA but lots of mistakes are still made in the process. Here's how to fix them.
What does an abundant life look like to you? For PIMD it's having the resources to live and give how he wants and spending money on experiences over things.
Exhausted? Cynical? Unproductive? Toxic job? My thoughts today on the causes and cures for physician burnout.
On today's podcast, we discuss nine important steps for paying for college, repayment plans available for your student loans, and lots more.
Empower yourself by breaking societal "rules" of spending in favor of decimating student loan debt and reaching financial goals.
What are the best strategies to buy life insurance? Buying life insurance is easy if you avoid common sales tactics, confusion, and follow these five tips.
Probate is an expensive, time-consuming, public process you probably wish to avoid. Here are eleven ways to do so.
When seeking financial advice, you want to ensure you are getting good advice at a fair price. Here are eight ways to make sure you are getting that.
Try to increase the amount of stuff you own -- your consumer goods, house, medical practice, investments, and other businesses -- and build wealth fast.
Today we discuss how to claim the foreign tax credit, physician mortgages, setting up a practice retirement plan, Able accounts, and listener questions.
Learn the basics of financial planning for special-needs children: special-needs trusts, ABLE accounts, insurance, estate planning, and more.
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...
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