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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

Are you looking for a good book on investing'  How about a book that is only a few inches wide and one inch thick (250 pages)'  That’s doable, right'  What if I told you it was written by one of the most experienced investment professionals in the world'  What if he started a company that now has trillions of dollars under management'  This man who is financially independent is willing ...
Posted: Mar 19 2018 @ 6:00 AM
Do you want to achieve financial independence'  Do you know how to get there'  There is a “best practice” to achieving financial independence.  It isn’t complicated.  It is simple and consistent.  Follow the steps and you are all-but-guaranteed to arrive at your desired destination of financial freedom.  This post was inspired by a Forbes article in 2016: The 15 Crucial Steps Needed To Achieve Financial Independence.   1.  Want it BadG [...] ...
Posted: Mar 12 2018 @ 6:00 AM
Were you discouraged from your dream career because it wasn’t “practical” enough'  Did your parents, friends, or relatives talk you out of a career because it didn’t make “enough money'”  Were you nudged into a medical career partly due to its high income'  Could you practice for a while and then retire early to pursue your true passion' This path has been forged for you.  Although we don’t often hear of ...
Posted: Mar 09 2018 @ 7:00 AM
What is luck'  Do you see yourself as a lucky person'  Do you know someone who has exceptionally good luck or bad luck'I’ve grown to believe that luck is more created than inherited.  I see myself as a lucky person.  Good things happen to me all the time.  But someone else in the same circumstances may not think that way.  That is a clue that optimism is related to luck.Sometimes ...
Posted: Mar 07 2018 @ 7:00 AM
Just know how to spend it!  I have written about how I spend my money elsewhere.​More money is better: at least up to a point.  The trick is knowing that point for you.  Below that point you will deprive yourself and your family of spending that could make you feel better and help you enjoy life more.  Working for more above that level will cause you to be unnecessarily absent ...
Posted: Mar 05 2018 @ 7:00 AM
Being a “four-eyes” has cost me a fortune over the years.  I started wearing contact lenses as a teenager.  My eyes have changed too much to even allow that now.  I’m not a laser eye correction candidate, so I’m a permanent eyeglass wearer now – like it or not.  At least I don’t have to buy contact lens supplies and take time messing with it.  Glasses are getting very expensive ...
Posted: Mar 02 2018 @ 7:00 AM
Warren Buffett told a parable in his 2006 shareholder letter to teach us how to get rich.  This post is based on his thought experiment.  His lesson is timeless and vital. Let’s suppose that you and I and all the physicians in America own all the stocks.  Let’s call it Caduceus Trust.  Our medical investment fraternity owns all the businesses behind all the stocks available.  Pretty sweet deal, eh'The total return ...
Posted: Feb 28 2018 @ 7:00 AM
Here’s the secret: live on less than you earn.  A lot less.  Then when the pay cut comes, it won’t affect your lifestyle.I’m sure many of you reading this will be thinking, “Forget that!”  That sacrifice is too much.  I didn’t suffer and train this long to live like a pauper and deny myself more!  I hear that. I’m all for enjoying life.  Just remember that enjoyment of life isn’t a ...
Posted: Feb 26 2018 @ 7:00 AM
Did you happen to read Warren Buffett’s classic 2003 article in Fortune'  If not, it is worth your time.  He expressed concern about America’s growing level of debt and the trade deficit.  It was a masterful piece of course.  I haven’t seen an update by him since then, but I imagine he would think our situation is much worse now.Even after taking multiple 500 level courses on international finance, I’m ...
Posted: Feb 23 2018 @ 7:00 AM
Physician burnout has received increased attention in the last few years.  And well it should.  It has been an oft-neglected cause of despair, frustration, and suicides for way too long.  The tools to counter it aren’t necessarily new though.  Dr. Swenson wrote his book, “The Overload Syndrome” in 1998.  In it he discussed several modes of attack on burnout.  This post is inspired by his suggestions. 1. Ask the “How Much Work ...
Posted: Feb 21 2018 @ 7:00 AM


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