I have talked in the past about coping with financial freedom.  Once we reach the mountaintop, we undergo a number of emotional changes.  It is, however, a mistake to believe that the transformation only begins once we have attained our goal.  In my humble opinion, there are five stages of financial independence.  These stages begin with conception and meager bank accounts, and end with financial freedom and hopefully ...

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An excerpt from the Docs Outside the Box podcast, episode 4: Financial Ed. for Docs 101 Dr. Nii: All right, everyone. Welcome to another episode of "Docs Outside the Box." We have a treat for you today. Today, we're going to be interviewing Katie Brewer, CFP, and owner of Your Richest Life. Katie, thank you for joining the show. Can you tell us a little bit ...

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Guess what? You’re surrounded by rich doctors. You probably didn’t even know it. You know why? Because doctors don’t talk about that filthy lucre known as money. So while you’re assuming that all the other doctors in your group, office building, and hospital are in the same position as you, you’re wrong. Some of them are rich. There are ten things they’re not telling you, but which ...

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How much we micromanage our lives is dependent upon our compulsivity and how many goals that we set in life.  Medicine is a profession that attracts some of the most goal-driven people I have ever met.  There are egos, obsessions, intelligence, and diligence all packaged into one unit.  This is simply overwhelming.  Fortunately, these habits tend to evolve with age.  I’ve seen some of the most incendiary personalities in medicine ...

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No, I’m not saying that the process of investing in index funds is difficult. In fact, it’s actually quite simple to build a diversified index portfolio, whether your money is invested at Vanguard, Fidelity, Schwab, or Etrade. What makes investing in the stock market so difficult is tolerating its high volatility. Many investors are unable to stick with the stock market in the long run because of the ups and downs. But those who stay invested ...

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Let’s be real here. Women make babies. Women also kick butt working. Sometimes women need to make babies while kicking butt working. So, you know, the human race can survive … no big deal. But, all too often, families are unfairly burdened by our dismal maternity support system. Bleary-eyed and bloody, new mamas emerge from childbirth facing a mountain of medical bills and no income. For my first pregnancy, my family ...

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I was driving up to Northern Michigan recently for a nice vacation with family, and like any long road trip, before I left, I turned on my GPS on my iPhone to see how many hours it would take to get there. There’s an initial excitement to get on the road, looking forward to how enjoyable your upcoming vacation will be. However, once you hit the highway, road trips can become long, ...

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There is a taboo in medicine. It is becoming less prominent, but it still exists. You’re not supposed to talk about money. Not how much something costs a patient, not how much you get paid, not how you invest, and certainly not about the freedom from medicine that financial independence can bring. This first shows up as you are applying to medical school. You don’t want anyone writing a ...

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I just spent two days at the Florida Medical Association Annual Meeting. We were there to help educate the physicians on real asset investing. I met many interesting people and likely started some new and exciting relationships. Many of the physicians stopped to talk to us about real estate investing and the benefits of passive cash flow, but there was a troubling undertone that permeated many of the conversations. A ...

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A budget is a guide that helps you increase your awareness of where your money is going and how much you are saving. It’s important to develop a budget early on as part of a strong financial foundation. It’s a common misconception that budgeting gets easier when you have more money. As the rapper Notorious B.I.G. famously said, “Mo’ money, mo’ problems.” Why is it important to develop a budget ...

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