Tomorrow many of us will take the day off to celebrate our country’s independence. Thank you to those who report for duty at hospitals around our country making it possible for the majority of physicians to celebrate this special holiday with their families. This year, let’s also celebrate the quest for our own financial independence. … Read more
Everyone has an idea of what they want their retirement years to be like. But when we finally pull the trigger and retire, we are traversing a new path for the first time. With no prior experience, we are likely to hit some snags. It’s best to learn about these snags from others and not … Read more
This time of year, many physicians are moving and buying new homes. It will likely be their first home. My oldest son bought his first rental house before he even moved out of our house. Then he bought another one shortly before his wedding. After the wedding, he moved into it with his new bride. … Read more
I have often written about the benefits of becoming debt free. In fact, last month I listed 20 good reasons to pay off your home mortgage. Whenever I write about becoming debt free, I get mail informing me that being debt free is a stupid idea. They say things like “I can invest my money … Read more
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
