Fawcett’s Favorites 1-27-20

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 the inside scoop on assets under management fees, health care options in locums, more wealth = better health, the excuse 42% of us use to not invest in the stock market, and does market volatility really matter.

Happy reading!

I don’t like paying unnecessary fees and I’m sure you don’t either. That’s why I started making a recommended advisor list of only flat fee advisors. The advisors on my list will give you the best bang for your buck. Physician on Fire has a nice post on the subject titled Confessions of an ex-AUM financial advisor. Imagine paying $40,000 to a financial advisor under AUM when you could get the same service for $5,000 from one of my recommended flat fee Financial Advisors. Year after year that difference really ads up. Don’t pay for your advisor’s retirement, pay for your own.

Physicians who want to work in locum tenens must take some special considerations into account. That is exactly why I created my online course, The Doctors Guide to Thriving in Locum Tenens, to help locum doctors navigate these differences. (Comes with a no questions asked money back guarantee) Health care is an important issue to consider. Read The Locum Tenens Guy’s article written for The White Coat Investor called Locums Docs: Don’t Let Health Insurance Break the Bank. If you struggle with rising health insurance costs, check out this article and save yourself some money. Also, check out the locums information in my book on Smart Career Alternatives

Wow, there are more advantages to wealth than expensive cars. It turns out, people stay healthy for an additional 9 years if they are wealthy. Wealth provides a lot of advantages in old age over those who struggle financially. This article from Rachel Grumman Bender on Yahoo Finance called Wealthy people stay healthy 9 years longer in old age than those who struggle financially, says new study. So start socking away that money so you can live longer and enjoy your retirement years more fully.

I was once sitting in the doctor’s lounge watching TV when it was announced that the stock market has hit an all-time high. The doctor sitting next to me, who was in his 50’s, said “too bad I don’t have anything in the market.” I couldn’t believe a physician at his age would not have any money in the market. Turns out a lot of people find excuses to not invest in the stock market. Tracey Marx Bernstein tells us on Yahoo Finance that 42% of people say this is why they aren’t investing in the stock market. What about you? Do you have money in the market? I hope so. 

I think we all worry about drops in the stock market no matter how much we tell ourselves it is just part of the process. The Loonie Doctor sets us straight in volatility and its risk to your portfolio. If you have any questions about stock market volatility you should read what he has to say. But don’t let the normal volatility drive you out of the market.

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 my readers.

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2 thoughts on “Fawcett’s Favorites 1-27-20”

  1. Thanks for the shout-out Dr. Fawcett. I found it interesting in the article about why people aren’t investing that the upcoming generation are tending towards DIY while the boomer generation are using more advisors. One of the best uses of a financial advisor is as a layer between our emotions and action. We may know the right thing to do, but it is hard to do it. Reminds of your previous post about being an adult with your money.


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