Many physicians love what they do and would never dream of retiring early. But doctors cannot sustain working at the same physical level into their 60s and 70s as they did in their 30s. As we age, we need to modify our practice in order to continue practicing. In my book, The Doctors Guide to … Read more
The real estate investor’s biggest fear is buying at the top of the market. Almost daily, I encounter someone asking if it is a good time to buy real estate with the current high market prices. This is a disguised way of asking “Should I be trying to time the real estate market?” Never try … Read more
I never really understood the concept of being at the end of my rope, hanging on for dear life, until I experienced it myself. How can someone with MD behind their name, the cream of the crop, end up in tears and unable to go on? Doctors are one of the most resilient groups of … Read more
Many doctors are talking about retiring early from medicine. In fact, about one third of doctors in the U.S. want to either quit medicine or make a major change in their practice. But many doctors don’t want to retire early; they want to find ways to enjoy practicing into their 70s. Both of my senior … Read more
We have all heard the phrase “It is better to give than to receive.” So, why then do so many people have trouble being generous with their wealth? Why do so many feel they need to spend all of their income to support their lifestyle. All studies on giving in the last decade hover at … Read more
When I discuss living on half of one’s income, I’m almost always met with, “that would be impossible for me.” They say it as if it were a fact, that some outside source is preventing them from living on significantly less than they make. This outside source is somehow keeping them from saving a good … Read more
When I reached financial independence at age 50 I didn’t retire as planned. Instead, I started working less hours and eventually switched to working about half-time, as I still liked operating, just not at the pace I had been working. I stayed at half-time for about three years and then dropped to quarter time for … Read more
This weekend we celebrate Father’s Day. Fathers have the ability to provide great advantages for their children, who arrive in this world totally dependent on their parents. I appreciate all the things my father did for me and wrote about six lessons I learned from my dad in a previous father’s day message. A few … Read more
When buying a long-term service, such as insurance, or getting a big project done, such as painting your house, NEVER go with the first bid. Every company prices their product based on their recent experience, and since every companies past experience is different, their pricing method will also be different. One bid can be as … Read more
Most people think doctors are wealthy, even doctors do. Why do they have this perception? Because doctors make a lot of money (top 5%), they are very smart (only the top students get into medical school), they are hardworking (that’s what it takes to get through our training), and they are resilient (otherwise how could … Read more
