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
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
Every time I speak or write about retiring at age 54, someone feels the need to tell me “I could have done that too if I was a Specialist like you. I’m just a pediatrician.” Or they are one of the other specialties that tends to rank lower in income than general surgeons. The implication … Read more
It’s that time of year again. Over 30,000 medical residents are about to finish their training and start their first job. Many of them will make some big financial mistakes during their first year that will haunt them for years to come. I wrote The Doctors Guide to Starting Your Practice Right to help new … Read more
As I encounter information I feel is especially valuable, I like to pass it on to my readers. The following are a few recent gems I discovered. I hope you find them as useful as I did. This episode of Fawcett’s Favorites includes why you should take social security as early as possible, even physicians … Read more
With interest rates going back up, many people are mistakenly thinking these new rates are high. The incredible run of low interest rates that we have grown accustomed to are now back in their normal range. When I bought my first house, interest was at 7% and no one was complaining it was high. But … Read more
I frequently hear people debating whether to pay off a home mortgage, which usually has a relatively low interest rate, or invest the money. Often the misguided answers to this question stem from only looking at the interest rate for the decision, as if it were the only valid variable. The following are the mistaken … Read more
One of my blog readers recently found a house that he felt would be good for his family and met their needs. He made an offer on the house, but his offer was not accepted. He is currently continuing his search. He contacted me because his friends, after hearing about the house he put an … 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 what life is like six years after retiring from surgery, seven micro habits that can change your life, 101 financial quotes to inspire … 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 how to guarantee you get your PSLF, how to keep money from destroying your friendships, the myth of the wealthy physician, be happy … Read more
