Why do so many physicians complain about not having enough money? Almost every physician’s earnings are in the top 10% of income earners in the country. Yet we feel broke, even those who make $600k a year. The median household income in the United States is about $75k. The average physician’s income is more than … Read more
(Clearance book sale including shipping and handling: $10 for the first book and $5 for each after that. Email me with which of my books you want and your shipping address. Help me regain space in my garage.) My wife and I care for our two grandsons every Thursday and Friday during the school year. … 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
Physicians go through extensive training to become doctors bringing in a high income. Unfortunately, they have no training in how to manage all that money. Consequently, we make a lot of money mistakes. I have taught personal finance for the last three decades. It has been both fun and rewarding, especially when someone finally realizes … Read more
Do you own a small business or an LLC? If so, then you need to be aware of the new federal law that went into effect in 2024: The Corporate Transparency Act (CTA). With the advent of the Limited Liability Company (LLC), came the ability to hide behind a business wall. It became possible for … Read more
Last night I read a very interesting article about a woman who just discovered her husband had more money in his 401k than she had is hers while making the same income. They have both been saving for several years, but he had been putting a larger percentage into his plan than she had put … 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
I recently attended an investment seminar. The main premise of the seminar was to teach us to build wealth and be generous with our excess. They were very inspirational in teaching those two points. I left the seminar fired up to grow my wealth and give my excess (the income above what my family needs … Read more
When I attend a meeting on investing for physicians, I am surprised at how often a deal is offered that is pure speculation, and not a solid investment. My track record on making good returns from speculating is abysmal. But I have seldom lost money when I chose a solid investment. That begs the question … Read more
Last week I attended the Real Estate & Entrepreneurship Conference for Physicians, in Dallas, TX. (PIMDCON24). It was great meeting with fellow entrepreneurs in person. Shaking hands and talking face-to-face is so much nicer than meeting on zoom. I was overjoyed by meeting people who have been positively impacted by my writing. It makes me … Read more
