An excerpt from The Young Physician's Guide to Money and Life: The Financial Blueprint for the Medical Trainee. Do you have student loans? Won’t you love to destroy them and be debt-free? What would you do with the cash flow you free up once your student loans are paid off? I (Amanda) invite ...

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I’m always intrigued by those who earn millions of dollars per year or even per month. Some manage to blow all that money and then some. Others, like a select few NFL players, choose to spend wisely and save prodigiously. Today’s Saturday Selection highlights the habits of one athlete who was among the highest paid NBA stars for many years. The headlines sadly feature athletes with similar ...

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Many doctors don’t want anything to do with investing money. They feel investing is not what they were trained to do and therefore a waste of their valuable time. I think this attitude gets some doctors into trouble. It is true that our time is best spent in our main area of training, but it’s very important for us to also have an adequate knowledge of investing. Being somewhat familiar with ...

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The lows don’t mean you are loser.  To the contrary, they mean something else that is completely antithetical.  They mean you are pushing the envelope.  You’re learning from past mistakes.  The lows mean that you are at an inflection point.  The trick is not to see the pit you are currently trapped in as a pit.  Think of it more as a privileged vista in which to view the pathway ...

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“Do not wait, the time will never be just right.” – Napoleon Hill “The perfect time to start something never arrives. Start now.” – T. Harv Eker Timing is everything. In life, love, and business, this axiom holds true. At least, that’s what we tell ourselves. But is this always the case? As a reader of this blog, you probably have some desire to establish some streams of passive income. So if you ...

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Growing up with a father who is a physician made for a natural draw to medicine. However, as young people are prone to do, I did my best to rebel. Early into my undergraduate career I proudly announced to my father that I had decided to go to law school. And perhaps to dig the needle a little deeper, I told him I planned on going into medical malpractice, on ...

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There are a lot of what-ifs in life. If only I had made that putt on 14, I could have shot my best score ever. If only I had taken a different job or performed better at the interview, I would be so much happier at my job. For decisions large and small, there are ample opportunities to second-guess yourself. I’m sure you have your own what-ifs when it comes to investing. If only I ...

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Once every couple of years I have medical students from the local medical school over for dinner. At some point, the conversation usually turns to finance, and I commiserate with them about their loan burdens. I typically toss them a few pearls of wisdom, wish them good luck, and we move on to something else. They always think it’s funny when I say, “If you can’t live on $200K, you ...

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I was recently asked what I thought was the number one problem that caused unhappiness in America. We are one of the most prosperous nations in history. You might think that with all that prosperity and wealth, Americans would be happy. Obviously, wealth does not equal happiness. Many would argue that since America has a lot of poor people, it can’t be considered a wealthy nation. But our poor are still ...

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I say that financial independence is bittersweet and you look at me with your jaw slack, your eyes questioning.  You scan to the top of my blog, and you see the words “personal finance,” and you’re wondering if I’ve gone slightly daffy. But then I point to my byline, personal finance with a twist, and continue on my belligerent rant.  I have said before that money is ...

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