Here are some specific ways for medical trainees to save on their move. Timing is everything When is the exact timing of your move? Are you flexible? Think about your situation: you graduate medical school, pack up, and then move for residency. Right? Most moving companies are busiest (read: most expensive) between May and September when they know you are likely to move. With Match Day in mid-to-late March, getting an early start ...

Read more...

When it comes to destroying debt, many of us are familiar with the two most common methods to pay down debt. Many choose the debt snowball method where you pay off your smallest debt first while paying the minimum on others. Once that first debt is gone, you roll that payment into the next. Eventually, you gain a ton of momentum as your debt snowball accumulates. This allows ...

Read more...

When our kids were in the 5 to 9 age range, we used to buy each of them a souvenir on our vacations. They always wanted the most expensive item in the store, a great big teddy bear that cost $400. We would tell them no, they needed to pick something less expensive. They weren’t happy about not getting their first choice. It was then that we decided that we ...

Read more...

Each spring, thousands of students and residents will relocate for their next career stages facing the same question: How am I supposed to move my stuff? The answer is varied and can be surprisingly complex. Relocation is part of any industry, but medical trainees, in particular, relocate during a narrow time frame often without any employer reimbursement. How does your move fit in with other major life events such as a wedding ...

Read more...

When I first started working on this blog post, the working title was “Different Ways to Make $1 Million in Real Estate.” However, I realized that if you’re reading this, you’re likely looking for a similar type of life that I’m interested in: a life of financial freedom where I’m also able to make huge contributions to society as well. Unfortunately, $1 million may not be enough these days to make that ...

Read more...

I would have thought that all doctors are on the same page about being overworked and underpaid, but I was surprised to read on a recent physician forum that some doctors claim that our profession overall is compensated adequately.  Complacency tends to kill innovation, but hey, to each her own.  Online forums certainly leave a lot of variables on the table -- we’ve all seen trolls or even just people ...

Read more...

As a young professional with many competing expenses, it is paramount for me to prioritize my spending. However, adhering to a strict budget can seem a bit daunting and restrictive. To get over this anxiety, I started out with a spending plan that mirrors the “50-30-20 rule” by allocating money into three different buckets: things I have to buy, things I want to buy, and things I should buy. Let ...

Read more...

Something I’ve been thinking about lately is the path that we’ve all been somewhat conditioned to take. And that is working really hard now so we can reap the rewards later. If you don’t work really hard now, you risk not being able to enjoy life when “later” finally comes. Does that sound familiar to you? Well, it should, because that’s the exact path we took to become successful in our careers. ...

Read more...

Money and death. Sounds kind of morbid, right? But, that’s exactly what we are concerned within the financial independence community. We like to talk about the former and avoid the latter. Make no mistake, however, that all of our conversations have subtly interlaced the topic of mortality. Our time on this earth is limited. No matter what your specific why of financial independence, we all want to find identity, ...

Read more...

Whether you are starting a new job, like me, or extending the contract at your current one, part of the process may involve signing up for retirement accounts. Most people have heard of a 401(k), but you may have other options available to you such as a 403(b) and Roth IRA. Let me breakdown the pros and cons of each account, so you can better determine which one is best ...

Read more...

34 Pages

Most Popular

Join 150,000+ subscribers

Get the best of KevinMD in your inbox

Sign me up! It's free. 
close-link
✓ Join 150,000+ subscribers 
✓ Get KevinMD's 5 most popular stories
Subscribe. It's free.