Fawcett’s Favorites 1-24-22

Every week I find a few great articles I feel are especially valuable. Following are this week’s best. I hope you find them as useful as I did.

This week’s favorites include one of my favorite references for getting things done, how to become a millionaire, some dos and don’ts for stay at home parents, when the stethoscope feels like a noose, and why saving at the maximum rate for FIRE might not be a good idea.

Happy reading!

I am a big fan of Brian Tracy’s work. His book, Eat That Frog, is one of my favorite books on productivity and time management. I have read it multiple times. So here is his explanation of Time Management and the Truth About Frogs. I was procrastinating about getting this list of favorites done when I saw this article and knew I had to get my act together and get finished. Have you read his book?

Being a millionaire is not as big of a deal as it was 100 years ago, but it is still a big deal. The first million takes the longest to achieve and each million thereafter is acquired more quickly that the last. A Dime Saved shares with us How to Become a Millionaire – 16 Dos and Don’ts.  The first do in the personality traits section is my favorite. How many of these things are you doing? 

Ever since I left residency, my wife has been a stay at home mom. Her transition from full time work in the corporate world to full time work at home was bumpy at first, until she found something to give her purpose in addition to raising our children. Womens Personal Finance offers some tips to those who want to stay home in So You Want to be a Stay at Home Parent?  What lessons did you learn in the transition? 

Many doctors are experiencing burnout in medicine. Xrayvsn put together a group of articles covering finances, divorce, malpractice, and corporate healthcare which are all things that can lead to burnout. This group of articles is titled: When the Stethoscope Feels Like a Noose. We should never experience such a feeling. The stethoscope should always feel like a badge of honor. Something we worked hard to attain and that we use for the betterment of society. 

Like most people, doctors tend to go overboard when we start anything. The same is true when we start saving for retirement. I set a goal to save at a comfortable rate so I could enjoy my life all along the way. I was able to live a nice life and retire at age 54. Physician on FIRE shares with us the story of one such person who joined the FIRE movement and felt it was not improving her life. So she backed off her savings rate to live a better live during the journey. The article is Working Toward FIRE Made Me Miserable, So I Changed Course. Don’t let your savings rate make you miserable. Life is meant to be lived all along the way, not just after retirement. 

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.

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