Americans have a big financial problem according to a recent government study. In one of the most prosperous nations on earth: 40% of us can’t afford a $400 unexpected expense, 20% can’t pay all the bills in full this month, a quarter skipped seeing a physician due to lack of funds, and 25% have nothing … Read more
Many years ago, debt was hard to get and was considered a dangerous and risky thing to have. Now it is so easy to come by, that possessing debt is almost universal. In fact, in 2008 the easy access to debt got our country into a bit of trouble, causing the housing crash. Today, if … Read more
(Doximity recently published this article of mine on the effects of consumerism. It originally appeared here, but some of you are not on Doximity so, with Doximity’s permission, I have republished it on my site for your reading pleasure) School has gotten back into full swing and thus we begin another cycle. Will this cycle … Read more
(Those of you who were holding out for the Kindle version of my new book, The Doctors Guide to Real Estate Investing for Busy Professionals, are in luck as it is now available on Amazon.) This week my wife and I celebrated our 31st wedding anniversary. It made me think about how my life has … Read more
(Doximity recently published this article of mine emphasizing eight critical things for a new attending to do. It originally appeared here, but some of you are not on Doximity so, with Doximity’s permission, I have republished it on my site for your reading pleasure) Here are eight things to do as a new attending that … Read more
Many people look at their 401(k) like it is a piggy bank. Since they often don’t have any other savings, when they need a lump sum of money for a large purchase, the only account they have with a decent balance is their retirement account. Since most people are not saving outside of their retirement … Read more
When I sat on the management committee of our surgery center, I was wondering why owners didn’t bring all their cases to the facility. They would clearly benefit financially if they increased their case load. So why didn’t they? I realized, it was because we all think like dogs. Dogs will do tricks if you … Read more
Wealth seems to be an elusive dream for many people. They desire to become wealthy, but feel they don’t earn enough money to reach that goal, as if earning more would make the difference. A study of 10,000 millionaires presented in Chris Hogan’s new book, Everyday Millionaires, showed that 69% of these millionaires reached that … Read more
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
