Fawcett’s Favorites 6-12-23

As I encounter information I feel is especially valuable I like to pass it on to my readers. Following are a few examples of some recent gems. I hope you find them as useful as I did.

This episode of Fawcett’s Favorites includes many physicians wasting their vacation time, everyone should be maxing out their retirement account including the early retirees, why HomeExchange is a better option than Airbnb for travel accommodations, the pitfalls of playing the stock market, and blessing that came out of the pandemic.

Happy reading!

Ever found yourself with left over vacation days at the end of the year? This means you didn’t even take all the vacation you were entitled to take. You worked more days last year than your employer asked you to work and you didn’t get any additional pay to do so. Do you love your job so much that you are doing it for free? This is just one of the mistake physicians are making with their vacations. The Physician on FIRE published Many Physicians Waste Their Vacation Time so you could read more ways to get full value out of your time off. A vacation is a terrible thing to waste.

Some early retirees in the FIRE movement are afraid to put money into their retirement accounts because they mistakenly fear they will not be able to get to it before age 59 ½. But retirement accounts are the best place to put money and if you skip them, you lose a lot of money. The White Coat Investor teaches us the reasons why Early Retirees Should Max Out Retirement Accounts no matter how young they will be when they retire. 

Many physicians like to travel the world. There are so many different travel accommodations, but my first choice is to always use my timeshare. But what if you don’t own a timeshare or none are in the city you wish to visit? Then Millennial Revolution has a great solution for you in Why HomeExchange Beats Airbnb. I have not used HomeExchange yet but they just moved up the list for me.

I learned long ago that playing the stock market (picking stocks) was a losing game. Without a working crystal ball, it is just not possible to pick stocks with good and consistent success like you can get with index mutual funds. Accidentally Retired sheds some light on this with The Pitfalls of Playing the Stock Market: Why Index Funds Win Every Time. Don’t waste your time and money learning this lesson by trial and error. 

If you are like me, the recent pandemic didn’t really make much of an effect on our lives. It did stop our travel plans. But travel was substituted with catching up around the house and getting everything spruced up, which suffered when we were gone all the time traveling. Wealthy Doc also found some Blessings During the Pandemic. It was not all bad as you can see by his list of 146 things that got better for him during the pandemic. Did anything get better for you?

I hope you enjoyed these as much as I did. I look forward to updating you again in the near future with a few more items or interest. If you find anything you think I should share with my readers, send me the link so I can add it to the next instalment of Fawcett’s Favorites.

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