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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 influential are you?  If you are like me, you spend a good part of your day trying to influence or persuade. I do so with variable success. Sometimes I find myself setting goals and targets lower than I’d like because I’m frustrated that I am unable to change behaviors – mine or others’.I also am learning acceptance and serenity to enjoy life as it is rather than trying to ...
Posted: May 21 2018 @ 7:00 AM
Many of us are afraid of running out of money.  It may keep us working longer than we would like.  Better to have too much than too little, right?  Maybe.  But if you sacrifice yourself, maybe it isn’t the best choice.See the prior post for more detail on how to determine which Wealth Zone you are in.  If you are in the Green Zone, you are set.  If you are ...
Posted: May 14 2018 @ 7:00 AM
Do I have enough to retire?  Have I hit “my number”?  Will I run out of money?  Am I financially independent?  Did I save enough?Do these questions sound familiar?  They do to me.  They are all asking basically the same thing.  It is the question that I hear the most.  You can usually hear the fear and uncertainty in the voice of the person who is asking.  They have an ...
Posted: May 07 2018 @ 7:00 AM
Investing is not a destination.  It is an ongoing journey through its four continents – theory, history, psychology, and business.  This is the argument put forth in William J. Bernstein’s excellent book, “The Four Pillars of Investing.”  Dr. Bernstein is a retired neurologist who somehow taught himself more about investing than most investment professionals, MBAs, or PhD students can master.  I recommend you read his book and everything else he ...
Posted: Apr 30 2018 @ 7:00 AM
Are you a doctor?  Are you in debt?  Those two seem to go together don’t they?  Like bread and butter?  Mac and cheese?  Well, they don’t have to.  I’m a doctor but I have no debt.  Same thing goes for Dr. Cory S. Fawcett who wrote the book, “The Doctors Guide to Eliminating Debt.”  Dr. Fawcett has credibility.  He is financially independent and debt-free.  He was financially able to retire ...
Posted: Apr 23 2018 @ 7:00 AM
We need more role models in medicine.  I’m not talking about mentors who can teach us how to examine a knee or scope a colon.  We have plenty of doctors who are ready, willing, and able to teach such things.  No, I mean the more practical and more important thing that doctors should learn about: money.We physicians like to ignore the money issue.  We don’t discuss it in medical school ...
Posted: Apr 16 2018 @ 7:00 AM
I just read an excellent book by Dr. Fawcett about things I needed to know when leaving residency and getting a “real job.”  I wish I read it twenty years ago.  I eventually learned all these lessons - but only after trial and error and the school of hard knocks. At the end of residency, I read Personal Finance for Dummies by Eric Tyson.  That was immensely helpful.  I still recommend ...
Posted: Apr 09 2018 @ 6:00 AM
Ben Graham is generally regarded as the founder of value investing.  He taught and inspired the man who is arguably the best investor of all time, Warren Buffett.  Ben Graham also wrote a must-read investment book, The Intelligent Investor.  There is plenty of finesse in his thinking, but I want to break down a few of his most important teaching points. These concepts continue to inform and guide Warren Buffett ...
Posted: Apr 02 2018 @ 6:00 AM
“How much should I be saving for my retirement'”  That is a question I’m commonly asked.  How should I advise our young physician'  Typically, they are a 31-year-old medical specialist who is about to make a large income who isn’t sure how to manage their future.  Of course, advice should be tailored to their situation.  Often though they just want to be told a simple one-size-fits-all answer or a rule ...
Posted: Mar 26 2018 @ 6:00 AM
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


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