Every week I run into a few articles that I feel are especially valuable, so each Monday I plan to share some of the best with you, my readers. I hope you find them helpful.
This week’s favorites include several book reports on my latest Amazon best-selling book, 9 hacks to save time in the office, the power of compound interest and starting to save early, and great ways to destroy your debt.
Over the last two months several doctors have published a book review on my latest Amazon best-seller, The Doctors Guide to Real Estate Investing for Busy Professionals. I thought I would put them all together for you in one place with a little quote from each of them. Clicking on their quote will take you to the review. In Chronological order of their publication, here they are:
The White Coat Investor, “…this is the way to buy your properties…”
The Frugal Physician, “…an excellent job of summarizing a lot of important concepts…”
Crispy Doc, ”The book eliminates your excuses.”
B.C. Krygowski, “…his motivations seem to be to be to help other doctors…”
Time is a precious commodity. There is a lot of wasted time in each office day and some of that can be reclaimed with the right approach to increasing your efficiency and doing away with busy work. The Scope of Practice published 9 Hacks The Will Increase Your Clinical Efficiency Immediately. We took steps in our office to improve time use during the day. We also implemented monthly meetings with the staff to talk about what we could all do to improve the office on all levels. It helped make it a better and more efficient place to work.
We have all heard about the power of compound interest. Well The Physician Philosopher shows us the math in The Proof is in the Pudding: Live Like a Resident. If we can keep our spending down in the first few years of practice, and start a substantial savings rate, we can achieve great wealth. He offers some great diagrams and explanations of compound interest. It was interesting to see graphically how by thirty years, less than a third of the nest egg was actually contributed by you. The rest is interest. Start early my friends. If you want more ammo to keep your spending down you can read my article Are We Consuming Ourselves Into the Poor House.
Everyone who reads my work knows I am not a fan of buying stuff on credit. I didn’t like being $500,000 in debt and sure did love it when it was all gone. I have been called the “Dave Ramsey for Doctors.” My friend Wealthy Doc put out a nice article called Destroy Your Debt, Doctor. If you are wanting to get out of debt, this is a good place to begin. When you are ready for some more ammo for why you should stay out of debt, you can read my book The Doctors Guide to Eliminating Debt. You might also like my article Becoming Debt Free with Zero Sacrifice.
I hope you enjoy these articles as much as I did. I look forward to updating you again next week with a few more articles I find especially interesting. If you read an especially good article, send me the link so I can share it with others.