Author's posts
Financial success as a doctor isn’t rocket science
We all know the importance of compound interest in building wealth. The fuel for compound interest is time — the longer you are committed, the greater chance your investments will grow. This applies not only to financial growth but also to essentially everything else. As a rule of thumb, the more you study for a […]
When a $5,500 decision becomes a $200,000+ loss
How much we micromanage our lives is dependent upon our compulsivity and how many goals that we set in life. Medicine is a profession that attracts some of the most goal-driven people I have ever met. There are egos, obsessions, intelligence, and diligence all packaged into one unit. This is simply overwhelming. Fortunately, these habits […]
What physicians need to know about living trusts
One common question that doctors face in estate planning is whether to establish a trust. This topic gets brought up in the doctors’ lounges, especially after someone gets a pitch from their financial planner. Most doctors who bring up the topic are quite enthusiastic, and cite that doctors need a trust because “we make a […]
The biggest financial weakness of physicians
The most common hurdle that doctors have is overspending. The notion that good income guarantees great buying power not only delays building financial worth but also confines doctors to lengthier careers than needed. The solution, in a nutshell, is to make sure that we make prudent financial and career choices to complement our financial velocity. […]
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