Almost no one accidentally becomes a millionaire. There are a few who inherit a fortune and become millionaires without any effort, but for the rest of us, becoming wealthy requires purposeful action. But it requires less purposeful action if you simply automate the process. As you know from my real estate investing story, after I … Read more
I retired from my general surgery career in my early fifties, after 23 years in practice, almost exactly according to the plan I made in medical school. Most people congratulate me for achieving my goal. A few vilify me for wasting my medical education, as if it is never acceptable for a physician to retire. … Read more
Feeling like they have not saved enough for a comfortable retirement is a common theme with my financial makeover coaching clients. If this is what you are feeling, you are not alone. It doesn’t matter if you make $100,000 or $800,000 a year, saving for retirement is a deliberate move. If you don’t make the … Read more
(Don’t forget to register for the Free Virtual Conference on Financial Freedom Through Real Estate. It all starts tomorrow and runs through the weekend. I will be holding a live Q&A session on Sunday. It is free, but you must register to get the link. Don’t miss me and 20+ other speakers including Brandon Turner … Read more
People are surprised when they learn we have maintained a debt free household for the last twenty years. For many, they realize for the first time, that being debt free is possible. Others think they could never become debt free as their total debt seems overwhelming. When we first heard the concept of living debt … Read more
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
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
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
