When we initially retired, I envisioned going south for the winter, since I’m not a big fan of the cold and rain. We don’t get much snow in southern Oregon, but it does rain a lot in the winter. Snow birders from the west coast tend to head south to southern California, Las Vegas, and … Read more
Many people want to do more traveling when they retire. In fact, travel is one of the main reasons stated for wanting to retire. Unfortunately, most people are not sure how travel will affect their retirement budget. Knowing this number is a key variable in calculating when you have enough saved to retire in the … Read more
It is not often I pick up a book and realize that someone has already written the book I was thinking of writing, but today it happened to me. When I published my book The Doctors Guide to Smart Career Alternatives and Retirement which is aimed at the physician who is fed up with his … Read more
Retirement account required minimum distributions (RMDs) can be a tax burden for those in their retirement years. But thanks to the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, we can declare our independence from the RMDs for 2020 and save a ton of money. RMDs are in place to be sure the … Read more
(Special note: If you have been hit by the current shutdown, my newest book, The Doctors Guide to Navigating a Financial Crisis, will help you find your way back to financial health. Watch for it to come out in mid-May) I have read many articles discussing how the first big drop in the market would … Read more
This month marks three years since I turned in my beeper and walked out of the hospital to the song 18 wheels and a dozen roses, by Kathy Mattea. It was a bit scary to give up surgery at age 54, hoping we had enough money saved to meet our needs for the rest of … Read more
(Today’s guest post comes from a retired dentist who was conversing with me about his life. I thought he was a great example of not needing to be a billionaire to enjoy your retirement. In fact, he has been retired for twenty years and did so with less than seven figures in his retirement plan. … Read more
I was recently asked what it was like to live the FatFIRE life (Financial Independence, Retire Early, but not on a skimpy budget). After I told my story, the other person said I was not FatFIRE, I was ObeseFIRE. I began to think about what they were saying and realized I really am living a … Read more
Many times blog questions appear as an either/or issue, as if there were only those two choices. Often I see questions such as ‘should I pay off debt or invest?’, ‘should I save for retirement or for my kids college?’, ‘should I buy stock or bonds?’, ‘should I plant tomatoes or cucumbers?’ It is entirely … Read more
Many physicians have a poor understanding of personal finance. Since personal finance isn’t a required course in high school, college or medical school, physicians are often unprepared to handle their high income when they become an attending. Sometimes the results of this lack of education are not pretty. Other times it’s a down right disaster. … Read more
