What Financial Independence Has Meant to Me

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

Twenty Reasons to Pay Off Your Home Mortgage

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

Finding an Unbiased Financial Advisor

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

Don’t Buy a House When You Get a Job

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

Fawcett’s Favorites 1-29-24

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

Yes, You Should Pay Off That 3% Home Mortgage

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