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Wealthy Doc

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Wealthy Doc
General Finance
physicians, doctors, high income, financial independence, high net worth, investing, personal finance, financial planning, money management, early retirement
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Indianapolis, Indiana, United States
Life stage:
SIK (Single Income, Kids)
Physician (Doctor)
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Latest Blog Posts

How many do you have'  What is a superpower you may ask'  That is my term for a generalizable and marketable skill.  You can swiftly deploy such a skill on a moments notice.  It shifts the odds of success in your favor and baffles your competition.Although it may appear that you are amazingly super-talented in a dozen areas, it is truly a matter of skill development.  Despite what Malcolm Gladwell ...
Posted: Dec 15 2017 @ 7:00 AM
I have always thought ahead.  I grew up among ignorance and poverty.  Yet, I had a vision for my future.  I pictured professional and financial success in my future.  Fortunately, I have  arrived at where I envisioned so long ago.  It is as though I created my own reality.Although I have always had a vision and I have worked hard, I never was goal-driven.  Every time I hear a business ...
Posted: Dec 13 2017 @ 7:00 AM
Insurance decisions are often clear. Do you need health insurance coverage'  Yes!Do you need disability insurance'  Yes, if you depend on your work income.Do you need life insurance'  Yes, if you have children or other dependents.Do you need long term care insurance' Well, maybe.  This one is not so clear.If you are late-middle age and approaching retirement, you may want to consider it.  It can be expensive.  What if you think ...
Posted: Dec 11 2017 @ 7:00 AM
I believe I read this list in the book, “The 7 Secrets of Extraordinary Investors.” 1. Being unwilling to tighten the spending belt when needed.Achieving FI is no easy feat.  One of the keys to getting there is living on less than you earn.  Some of us live on much less than we earn.  The sooner you want to achieve FI, the more you need to save.  The math is shockingly simple. Although ...
Posted: Dec 08 2017 @ 9:00 AM
So, let’s say you followed all the great advice from this site and others.  You earn, save, and invest big time.  You reach the holy grail of Financial Independence.  Then what'  Well, you can do whatever you want with your time.  You no longer must run on the career treadmill.  Congratulations!But that doesn’t mean you will have a worry-free life.  Trouble and challenges still face us all daily.  Life is ...
Posted: Dec 06 2017 @ 9:00 AM
Congratulations you have reached FI (Financial Independence).  Your years of working, earning, saving, planning, and investing finally paid off.  You are free from the rat race!  You will love this new freedom so much that you won’t want to have to go crawling back to the full-time workforce any time soon.How can you be sure that you STAY FI'  Know the enemies of FI and how to anticipate and respond ...
Posted: Dec 04 2017 @ 9:00 AM
I remember talking about how I had a love-hate relationship with Sallie.  She provided for me in my time of need.  She encouraged me to get an education and helped make a first-rate medical education possible for this poor kid.  I will forever be grateful to her.On the other hand, I hated Sallie.  I had a commitment to her that I couldn’t get out of.  She took some of every ...
Posted: Dec 01 2017 @ 9:00 AM
This post was inspired by David Osborn and Paul Morris’ book, “Wealth Can’t Wait.”Have you fallen into any of these traps' 1. Stable or Cushy JobIt is easy to get sucked into a lull.  If you like the job and the hours and the people you work with, why not continue'  Inertia is easy to keep you going.  Maybe you can goof around on the clock'  You have time to check Facebook ...
Posted: Nov 29 2017 @ 8:00 AM
We all must juggle our priorities in life.  Achieving wealth takes a lot of effort, time, knowledge, and some luck.  When should it be a priority'  We may want to focus on our schooling, then job search, then housing, office politics, and raising children.  Maybe building wealth can wait until later'  After you are board certified or after the house is paid off or after the kids are out of ...
Posted: Nov 27 2017 @ 8:00 AM
So you have a big income, do you'  Now what'  Doctors and professional athletes have a few things in common. The athletes and the doctors have a shorter career than most other workers.  The physicians start later than most.  The professional athletes "retire" much earlier than other workers.  They also train long and hard.  They delay gratification. Others know about their high incomes and will be glad to "help them" manage their ...
Posted: Nov 24 2017 @ 8:00 AM


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