A misconception is running around the financial world, that great sacrifice and delayed gratification is required to reach financial independence. This is simply not true. The reason so many feel becoming financially independent is a sacrifice, is the misguided notion that spending anything less than all you earn is somehow a great sacrifice. If I … Read more
Every week I find a few great articles I feel are especially valuable. Following are this week’s best. I hope you find them as useful as I did. This week’s favorites include six reasons high earners don’t get rich, how much can I safely take out of my retirement plan each year, 13 important money … Read more
The Backdoor Roth IRA has become all the rage in the last few years. Almost every physician financial blogger is writing about how to get around the income limits imposed by the Roth IRA rules. This clever work around is called the Backdoor Roth IRA. But congress is contemplating ending the rules that make this … Read more
(Today’s guest post comes to you from Fiona Smith, the founder of The Millennial Money Woman. She would like to share the following disclaimer: This article reflects my own views, ideas, and opinions. I am not an investment advisor and I always recommend you communicate with your accountant and financial advisor before investing.) If you’re … Read more
I am amazed at some of the comments I get from people seeking financial advice. Often, they are asking for the secret to financial success. “What do I need to do to become wealthy?” This is frequently asked while searching for something magical they can do to improve their financial wellbeing without having to change … Read more
I recently gave a lecture in which I asked the question, “Do You Choose Money Over Family?” Of course, everyone would answer with a resounding no. No one would ever admit to choosing money over family. Yet isn’t that exactly what we do when we choose to moonlight? Or work extra shifts? That statement will … Read more
(Don’t miss your chance to sign up for the upcoming Marriage and Money MD Conference November 15-17, which is free to attend, but you must register. You don’t want to miss my two topics. My main conference topic is Your Spouse is Your Greatest Financial Asset. I am also covering Divorce Proofing Your Marriage that … Read more
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 simple steps to financial independence (podcast), tools to help declutter your life, pros and cons of … Read more
We have all heard the phrase “It is better to give than to receive.” So, why then do so many people have trouble being generous with their wealth? Why do so many feel they need to spend all of their income to support their lifestyle. All studies on giving in the last decade hover at … Read more
When I discuss living on half of one’s income, I’m almost always met with, “that would be impossible for me.” They say it as if it were a fact, that some outside source is preventing them from living on significantly less than they make. This outside source is somehow keeping them from saving a good … Read more
