This is one of my favorite times of the year. Thanksgiving dinner with my family, cool air that calls for cute winter clothes, and holiday festivities that invoke the spirit of love and positivity. As we embark on this season, inevitable holiday sales may tempt us more than we can imagine. In order to deal with this temptation and stay within our budgets, we may need a little motivation to ...

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As physicians, we find ourselves in higher tax brackets than the majority of Americans. With the graduated tax system here in the U.S., the more we make, the higher the percentage of taxes we owe. That is not just because of the tax brackets, but also because many tax write-offs are phased out as income climbs, creating a compounding effect. There are things we can do to decrease our tax burden. ...

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This week my wife and I celebrated our 31st wedding anniversary. It made me think about how my life has changed from when I was a single freshman in college. A time when I didn’t always do the right thing. I knew it was against both the law and school policy to drink alcohol at my age during a frat party, but I sometimes did it anyway. We know we have moved ...

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We talk with a lot of physicians every day who ask us a simple question.  “Why should I invest in self-storage?”  Obviously, as a self-storage operator, we are biased, but there are three data points that we believe make this a fantastic asset class for physicians to evaluate for their own portfolios. Wait a minute, self-storage is a legitimate asset class?  Some statistics on the self-storage industry that may surprise you.  ...

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Health care is big business, with medical practices vying for contracts, hospitals undergoing facelifts in order to cater to patient experiences, and insurance companies making deals with pharmacies.  Some of these arrangements are negotiated in the name of reducing health care spending, but there has to be some skepticism when for-profit entities are implicated.  Physician salaries aren’t exactly growing with inflation—some fields have had massive cuts in spending over the ...

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I recently read an article called "Inefficiency and luxury" in which the author stated that he has never tried to get any frequent flyer rewards, and in fact doesn’t even have a frequent flyer number. This statement left me a bit confused when I first read it. I’m not one who likes to leave money lying on the table. Then he ...

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I read a Facebook post asking what people were doing about a recent market drop. As much as I watch the market (very rarely), I didn’t know the market had dropped until I read that comment. This question was raised on a site that is constantly teaching people that there is no way to time the market. Those who follow me always agree with this concept, until the market drops, ...

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Burnout in medicine has reached epidemic proportions. A recent systematic analysis found that the prevalence of burnout was as high as 80.5%. All medical specialties are affected, although prevalence rates of burnout vary widely between specialties. Classically, burnout is defined as a triad of emotional exhaustion, depersonalization, and inefficacy. Recently, moral distress or moral injury has also been recognized as a potential component of
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An excerpt from The Doctors Guide to Real Estate Investing for Busy Professionals. Only make offers on property you think would be good for you to own for 40-plus years. Don’t mistake this statement to mean if you are 70 years old then you shouldn’t buy real estate. Positive and ...

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As a young college student or post-grad, you may have accumulated credit card debt. I certainly did. However, somewhere in the process of “adulting,” you may have realized that having lots of debt isn’t a good thing. You may have even heard investment gurus like Dave Ramsey preach that all debt is bad and insist that people do any and everything to rid themselves of the terrible “D-word” as fast ...

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