We’ve all seen a few “news” pieces about the recent government shut down. It’s interesting, but not surprising, to hear that numerous government employees are crippled by the delay of a single paycheck. This is exactly the reason everyone needs an emergency fund. When an unexpected financial catastrophe pops up, we need to be able … Read more
Too many doctors today believe that their income is what determines their level of success. This is a fallacy that is hurting way too many doctors. We hear things like “Become a specialist so you can make the big bucks” or “Now that I’m an attending, I can afford the payments on a new Tesla” … Read more
(Today’s guest post comes from Doug Adamson from Fulton Mortgage Company, an advertiser on my site. Doug helps doctors leverage their earning potential by getting doctor mortgages with low down payments and no mortgage insurance. I had always been opposed to adjustable rate mortgages, until he showed me this article. Now I can be convinced that … Read more
An interesting phenomena recurs when I work with physicians to makeover their finances. They almost never believe that overspending is the problem. They believe the reason their credit card balance is growing, and their large monthly income isn’t enough to pay their expenses can’t be due to their own choice to overspend. They always have … Read more
We all get caught up in the New Year sentimentality on January 1st; the ability to have a fresh start and wipe the slate clean. Which translates into starting over in some areas of our lives. So we make our New Year’s Resolutions, hoping that this year our lives will change for the better. We … Read more
Last week I talked about who should own a timeshare. If you are among those I was describing, then the following tips will be helpful to squeeze the most value out of your purchase. If you want even more tips and tricks for using your timeshare, pick up a copy of my best selling book, … Read more
Timeshares, for those who might not know, are a way to own the right to use a vacation resort. It comes in two forms, owning points or owning a specific room in a complex for a specific week. It’s like a partial ownership of a condo at a resort. These units can be traded for … Read more
Several years ago I had a discussion with one of my residents. He was telling me about how great it was to fly back to Portland to visit his girlfriend. The airplane flight was only 45 minutes and fairly inexpensive. This conversation got me thinking about travel and what mode of transportation is best for … Read more
Often a stay at home mom, like we have in our house, is not thought of as a contributor to wealth. Too often, only the person who “really” works and brings home an income is considered to be generating wealth. This is a case of incorrect thinking. The non-working spouse is a very big factor … Read more
I was recently asked what I thought was the number one problem that caused unhappiness in America. We are one of the most prosperous nations in history. You might think that with all that prosperity and wealth, Americans would be happy. Obviously wealth does not equal happiness. Many would argue that since America has a … Read more
