Personal debt is a topic that lends itself to many disagreements. There is the argument about “good” debt and “bad” debt, which is ridiculous since every debt is a burden. “Good” debt is akin to wearing your cleanest dirty shirt. If given the choice between inheriting a house that has “good” debt (a mortgage), or … Read more
(Are you interested in learning about real estate investing or becoming financially free? Join me at the Physician Freedom Summit 2025, October 6-8, in Los Angeles. I will be speaking on purchasing property with no money down, which is how I started investing in real estate.) There are many forks in the road of life. … Read more
We all need advice from time to time. Sometimes that advice is about personal finances, Investing, borrowing, or maybe even how to play better pickleball. When choosing a source for your financial advice, stay away from financial advisors who have a conflict of interest. The advisor who makes money on your investment decisions is like … Read more
(The photo with this article is the view I have as I write this from a timeshare resort in Escondido, California. I couldn’t travel as much if I was still working.) I’m a physician who retired from medicine early, based on most people’s thinking. But at what age is retirement early? The Social Security department … Read more
There are many misconceptions about money and money principles floating around. Most of the time when someone contacts me for help with their finances, there is a financial principle they are not using, or they have fallen prey to a myth that is hurting their family. Some myths are perpetuated by those who would like … Read more
(Keep an eye out for my upcoming book The Doctors Guide to Finding Joy in Your Work, coming March 11th on Amazon. We can all use a little more joy in our lives and this book will help attain it.) Money is a lot like oxygen. When we have enough, we don’t think about it. When we feel we do not have enough, we can’t stop … Read more
Doctors today are drowning in debt. That’s not a big revelation, but how did we get here? We moved in a little at a time, like a lobster in a pot of water slowly increasing in temperature until it finally dies when the water gets too hot. Think back to a few months before your … Read more
Professionals who realize something is wrong with their finances, but can’t pin down the problem, often contact me. Although they make a very good income, they are not accumulating wealth as rapidly as they feel they should. Or they feel at their current trajectory, they will not have enough savings to retire in the manner … Read more
There are times in life when we stand at a fork in the road where our future can be greatly altered. Once we choose which tine of the fork to take, it sets in motion many changes that can lead to very different outcomes. When I was recently asked to perform in a musical, I … Read more
Debt is a very touchy subject. Some people think there is such a thing as “good” debt. Then there are others who mistakenly think they will become wealthy by hanging onto their 3% loan as long as possible. And still others can’t tell the difference between being able to afford a car vs being able … Read more
