I have been helping doctors with their personal finances for a long time. I recently realized that there is a single statement, if doctors would learn to use it, that would change their lives. It is very common for me to encounter doctors who are in over their heads financially, struggling with debt, and living … Read more
In my last post, I told my story of how I got out of medical school with only $18,000 of debt. By the time I left residency I had that whittled down to $6,000 at 3% interest. Then during the next three years after starting my practice I had accumulated almost $500,000 of new debt. … Read more
When I was a young lad, just heading off to college, I had no debt. I had no credit cards. My family didn’t use debt for purchases other than buying our house. I really didn’t have any knowledge about how to best use debt. My student loan package included a scholarship, a work study program … Read more
Almost everyone is familiar with the story of Ebenezer Scrooge in A Christmas Carol. I was thinking about that this year and thought Charles Dickens could have just as easily written about Ebenezer’s financial situation and had visits from the ghost of finance past (Debt), the ghost of finance present (Budget), and the ghost of … Read more
I am continually running into people who are confused as to what constitutes debt when we are doing a makeover with their spending plans. Wikipedia defines debt as money owed by one party, the borrower or debtor, to a second party, the lender or creditor I have clients who list out their accounts payable as … Read more
As a personal finance coach, I have learned that the most important aspect to wealth accumulation, is having good money habits. Good habits create good results and good results are what everyone wants. We were not born with any of our habits, we learned them somewhere along the way. That’s good news, because that means … Read more
As a personal finance coach, I have found that the most detrimental aspect to wealth accumulation, is having bad money habits. Good habits create good results, and bad habits create bad results. You were not born with any of your habits, you learned them somewhere along the way. That means you can unlearn the bad … Read more
Today I woke up to a great honor. My book “The Doctors Guide to Eliminating Debt” was just included as the 4th ranked doctor specific book to read for those looking to learn about personal finance. This list was published today by The White Coat Investor on his blog. If you have not yet read … Read more
Dr. Cory S. Fawcett shooting bad habits As I work with people one-on-one as a high performance coach, I have found that the most important aspect to their wealth accumulation, is their habits. Good habits create good results, and bad habits create bad results. The good news is, habits are learned. You were not born … Read more
Our wedding rings I just returned from going on a weekend men’s retreat with my oldest son, Brian. We had a nice weekend together and my favorite part was the three hour drive each way. It gave us a chance to talk, which doesn’t happen as often as I’d like since he moved to his … Read more
