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 where your wealth is slipping away, yes you need a secret savings account, proof that even professional investors cannot time the market, charting mistakes that are costing you precious time, and the economic risks of anti-vaxxers (they’re costing us a fortune).
Just when you thought you had saved enough to retire, you notice money leaking out of the bottom of your retirement savings bag. At least that’s what Wealthy Doc is concerned about when he wrote his latest article, Your Money Bag Has a S.L.I.T. in the Bottom. Which of these items is eroding away your retirement money the fastest?
I like to store my emergency fund in an account I never see, or think about, so I am not tempted to spend it. That is exactly what Physician In Numbers teaches us to do in, My Killer Financial Tool: The Secret Savings Account. The old saying “Out of sight, out of mind” is in play here. Do you use a secret savings account?
Every day people ask me questions regarding timing the market like: Isn’t the market too high to buy right now? Is this the right time to buy? Should I be moving into cash?…. I often remind them that market timing is not one of my super powers and it is not theirs either. Physician on FIRE published proof that the “professionals” can’t do it either with When “Professionals” Time the Market: A Case Study. Isn’t it about time we all stop pretending we can tell when the market is at a peak?
Charting can take a large part of our day. If you could do it faster, you could get home in time for dinner every night. So here are Three Mistakes Physicians Make That Triple Charting Time recently presented on KevinMD. I did not spend much time on my charting and it was never a problem. My mantra was to only put in the chart what would help the next doctor who read it. My notes were shorter than most other doctor’s notes, but they included what was important. Give it a try, write only what is essential in your notes.
The 2020 pandemic was caused by a virus. The 2021 spikes are caused by misinformed people who are refusing to get vaccinated. These anti-vaxxers are costing the country a lot of money, as well as, killing a lot of people. Maybe their health care premiums should be increased. Maybe they should be thought of just like smokers, who cause self-imposed medical problems. Or like drunk drivers who go to jail when they kill someone. The Big Picture gives us a nice summary of what the anti-vaxxers are costing us with The Economic Risks from Anti-Vaxxers. Isn’t it about time we put an end to this madness and get everyone vaccinated so we can all get back to normal? Let’s be clear: Getting vaccinated is thousands of times safer than going without the COVID vaccine. Don’t be fooled into thinking otherwise.
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.