A Financial Advisor Argues For Actively Managed Funds

Financial planners, also known as financial advisors, can be helpful for doctors who don’t have the time, energy, or the desire to take control of their financial plan.  I decided to meet with a financial advisor when our group offered to pay for a meeting. There can be advantages and disadvantages to using a financial advisor. I felt like an hour meeting could do little harm, so I gave it a shot. … Read the rest

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Financial Steps To Take For New Doctors

Graduating medical school, residency, or fellowship is an exciting time as you turn to the next chapter of your career. After all the years of hard work, the paychecks have finally started to roll in. The next problem is deciding what to do with the money from those larger paychecks. I previously wrote about financial changes from going to a resident to an attending.… Read the rest

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Why I like Dividend Reinvestment Plans (DRIP)

Part of my retirement portfolio includes individual stocks and several of them pay dividends quarterly. The online trading platform I use gives several options on what to do with these dividends. The money gained from dividends can be either reinvested in the company  automatically (Hence the name dividend reinvestment plan / DRIP) or deposited into a savings account. Having dividends automatically reinvested can benefit a retirement portfolio by adding compounding returns to an individual stock.… Read the rest

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Rent Vs Buy As A New Attending

I’m getting close to being 6 months into my first job post residency and I have felt myself getting the urge to buy a house. The biggest factor came when my fiancee moved into my one bedroom apartment and we quickly realized that we simply do not have enough room. I find that my desire to buy a house is always at its peak when I write a check for $1,800 for a 800 sq ft apartment close to where I work.… Read the rest

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Expert In Medicine Does Not Equal Expert Investor

When I was fourteen I recall working a job with my grandfather on a newly built house. We were wiring the house for electricity since my grandfather is a plumber and electrician by trade. He yelled at me,  “Do you have the wires screwed into the socket yet?” He told me which wire goes in what location but me being fourteen with quitting time on my mind I soon forgot which one went where.… Read the rest

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10 Reasons To Buy A House During Residency

A good financial adviser or blog would almost never make a blanket that applies to everyone and the same goes for this blog and the reason for this post. My last post touched on 10 reasons why residents should not buy a house during residency.  For many residents, buying a house for residency is a poor financial decision. However, for some resident physicians buying a house may actually make sense.… Read the rest

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10 Reasons Not To Buy A House While In Residency

This past week I met up with some friends of mine who graduated residency at the same time that I did. Some of us rented while others bought a condo or a single family house during residency. We decided to discuss which choice is most likely the best one for new residents. As you could imagine the argument became one of varying passionate opinions.… Read the rest

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Why you can’t beat the market with individual stocks

We all have met the physician that no matter what topic is brought up, always seems to have not only an opinion, but also wants everyone to know that they appear to know a great deal about the topic. There are lots of phrases to describe this person: The “one upper”, the “know-it-all”, or the “expert-in-everything” physician. This sometimes grandiose belief extends into in investing realm.… Read the rest

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