Fawcett’s Favorites 5-16-22

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 why one physician owns no bonds, quitting these seven habits will make you happier, what we can learn from the affluent and their habits, how to avoid investment scams, and three investment temptations doctors should avoid.

Happy reading!

With the recent drop in the stock market, many articles are coming out with ‘new’ recommendations. But if you have a solid investment plan, it should work in both up and down markets. Changing your strategy depending on the direction the market is heading is what timing the market is all about and we all should know by now that timing the market is not possible. But what should our plan look like? Physician on FIRE published an example of an investment plan without bonds included. Is that bad? Will it fail? You can read about Why This Retired Physician Owns No Bonds. Are bonds always needed to have a diversified investing plan?

Habits will make or break us. Good habits beget good results. Bad habits beget bad results. If you are not getting the results you want, it may be time to change some habits. Yahoo News shares with us a few habits that need changing with The Secret to More Happiness is Quitting These Seven Unhelpful Habits. What habits do you have that need changing? The first one she lists will transform your life. 

How does one get to be in the top 1%? One writer for Entrepreneur shares with us what was learned after more than a decade of working with affluent clients in Eight Things I Discovered While Working With Affluent Clients in New York City. I need to work on #3 in this list. What is your take on this? 

Investment scams are all around us. But how do we tell a scam from an investment? Millennial Revolution will help you out with a nice article on How to Avoid Investment Scams. Have you ever fallen for an investment scam? It hurts when you look back. I love the part in the article that states, if the investment is not actually producing anything, don’t buy it. Keep this in mind the next time you contemplate buying crypto.

There are many tempting investment ideas out there. How can we sort them out? The White Coat Investor shares with us Three Temptations Doctors Should Avoid When Trying to Grow Their Money. Many of us get impatient when trying to become wealthy. We feel our money is not growing fast enough so we decide to help it along, this is when we start making bad choices. Just keep hitting singles and doubles and stop swinging for the fence and you will win the game. 

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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2 thoughts on “Fawcett’s Favorites 5-16-22”

  1. How sad that people are advised to befriend “impressive” or the “right people”. Those people aren’t your friends- you will find that out in the long run if you can no longer do anything for them . Somehow I managed to become wealthy by spending time with people I simply like and not being a sycophant .

    • Kara,
      Seems you are painting “impressive” and “right people” with some sort of “bad kind of people” paint brush. We are the collective of the books we read and the people we hang out with. If one wants to become great at something, one should hang out with people who are great at it and learn how they did it. Whether or not they become a true friend is a different matter entirely.


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