Fawcett’s Favorites 6-21-21

Each week I run into a few articles that I feel are especially valuable. Every Monday I would like to share some of the best with you, my readers. I hope you find them helpful.

This week’s favorites include tips for starting a real estate side hustle, how much passive income does it take to change your life, what it takes to be a great mentor in medicine, the three most tempting investments to avoid, and the top five regrets of dying people and how you should use that information to improve your life.

Happy reading!

Many people have an interest in real estate, which has made my book The Doctors Guide to Real Estate Investing for Busy Professionals a best seller. CNBC’s Make It published an article by The Frugal Physician listing her Top Tips for Starting a Real Estate Side Hustle so it can Generate Consistent Passive Income. The consistent passive income from my real estate now covers all my living expenses in retirement. If you want a consistent passive income from real estate, read this article and order my book to take the first steps in becoming financially successful through real estate investing. 

The ultimate object of pursuing passive income is to enable you to live your dreams without the need to work for a living. There are, however, a lot of benefits that happen before you acquire enough passive income to retire. The Darwinian Doctor covers this with How Much Cash Flow do you Need to Change Your Life?  I was surprised by his numbers but realized they make sense. Think about your answer before reading the article. 

We are all newbies when we begin our journey in medicine. No matter what our level, there is always someone with more experience who could serve as a mentor. University of Utah medical student, Brian Zenger, gives us his take on What Makes Someone a Great Mentor in Medicine in an op-med article on Doximity. Did you have a great mentor? What made them so great? I previously wrote about two great mentors in my journey: One from medical school and one from residency. Are you currently mentoring anyone? Should you be? Do you presently have a mentor? If not, who could you turn to?

There are a lot of ways to invest money. Many of the ways, I would say, are not investing but speculating. Speculating is risky. Don’t speculate with your money, invest it. The Prudent Plastic Surgeon shares with us his Three Most Tempting Current Investments to Avoid. I will certainly stand with his first choice. How do you feel about his recommendations? Have you been tempted to invest in any of them? What happened?

As we near the end of life, we look back and reflect on what we wish we would have accomplished. We think about the things we regret not doing. Throughout life, most of our biggest worries revolve around money, but the top regrets at the end of life are not about money. That should give us pause. Are we striving for what is truly important in life? Review the list of the Top Five Regrets of the Dying presented by Budgets are Sexy and use them to adjust how you live your life. In doing so, hopefully none of these will be your regrets when you get to the end of your life. 

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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