We are a product of our upbringing.  For many of us, this means we develop values and beliefs about money and work from our parents.  Our communities, however, also play a role.  It is in these communities that we learn a joint value system, a blueprint for how to approach and interact with the world.  It’s easy to underestimate the profundity of this effect. I grew up in vastly different cities.  One ...

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Every day, we’re presented with choices. Some are larger than others, and though some make little difference in the grand scheme of things, some choices can be life-altering. In life and in business, when we have a big decision to make, it’s all too easy to err on the side of caution -- sometimes to our personal or financial detriment. It’s human nature. But what is it that keeps us from ...

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If you haven’t noticed, Americans love debt.  The average household has around $130,000 in total debt, including $50,000 in student loan debt, nearly $30,000 in auto loans, and $16,000 in credit card debt. With an average credit card interest rate of 15%, that would be $2,400 in interest per year. With a student loan interest rate of 6.8%, that would be $3,500 in interest, ...

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Many physicians don’t want to think too hard about investing. There are a lot more fun things to do in life than worry about the minutiae of index funds. One of the best investments for beginner investors are target-date funds. It’s a great way to get started with investing, while you learn more about the principles of asset allocation. But there are literally hundreds of target-date funds available. How do you pick ...

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My email box is an endless source of material for the blog and podcast. As always, details are changed to protect the innocent. Assume genders are swapped about half the time, specialties are changed, and identifying details are obscured. Today’s Q&A provides a great discussion of some things to think about as you approach retirement. The situation discussed is very common among docs and is hardly the only time I’ve ...

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I’m going to keep things broad here: no discussions of index funds, real estate, Roth IRAs or taxable accounts.  This is more of a general discussion on what I feel is important to me, what I invest my money and maybe more important, time into.  There are a few financial topics, but there are many more “time” topics.  On the surface these my seem like individual items, but I assure ...

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As I work with people one-on-one as a high-performance coach, I have found that the most important aspect to their wealth accumulation, is their habits. Good habits create good results, and bad habits create bad results. The good news is, habits are learned. You were not born with any of your habits; you learned them somewhere along the way. That means you can unlearn your bad habits and learn some new ...

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When my children each finished Montessori school, my wife and I researched a bit before choosing the local public option.  My area has extraordinary private schools.  Although high cost, many of these alternatives provide unique and worthwhile twists on traditional education.  We talked extensively with the kids, and after much research, we came to the budgetary friendly decision.  The public school, with somewhat fewer bells and whistles, provided an education on ...

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We all know that life is unpredictable. In fact, the only thing that’s certain is that things will be uncertain. Despite this, or perhaps because of it, I think the majority of people are risk-averse. We’re concerned about future and its potential for unfortunate circumstances. If we weren’t, there would be no such thing as insurance–and there’s insurance for just about everything. While it’s important to think optimistically, knowing you have ...

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The telephone rang. Why would he be calling? Must be a misdial, I figured. I  hadn’t worked with him in several years, and we were never known to make social calls back when we did work together. That call was no mistake. What he had to say made me simultaneously queasy, fearful, and angry. It felt like the first couple loops on a rollercoaster ride I didn’t sign up for. I ...

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