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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When I became interested in the financial markets many years ago, I spent many hours and days trying to devise ways to make money in the stock market. There are many ways that investors try to make money in the stock market, including:

  • Trying to find the next hot stock.
  • Finding a new trading strategy, based on charts or other strategies.
  • Picking the next hot fund manager.
  • Looking for an ...

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Basketball dreams I had one dream throughout childhood. (It certainly wasn’t to be a seven-figure failure!) To play basketball.  Now before you start to criticize me for my grandiosity, the goal was more simple.  I had no plans of playing in the NBA, or even college for that matter.  I had one simple goal-make my high school basketball team. Easy you say, right?  Well, the team was super competitive, and most of my ...

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Doctors order a lot of tests. Let’s be clear, most of these tests are quite good and help with diagnosis and management. They can help hone down a wide differential diagnosis to a single diagnosis. Once a diagnosis is made, additional tests can help guide physicians on the best treatment. But there are some tests which are not necessary to order. In some scenarios, the next step in management (whether it be ...

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Kids watch our every move. Who hasn’t seen a young boy who imitates what his dad does. Even to the point of standing, just like dad, leaning up against a railing with his legs crossed, and a piece of straw hanging out of his mouth. They hear what we say at home and around the dinner table, especially when we are not talking to them. They watch how we spend ...

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Physicians-in-training make a pittance when one looks at the hourly rate,  Especially when I was residency, in the early 2000’s.  I often worked upwards of 100 hrs per week and made $30,000 per year.  The first year, called internship, is replete with long hours and crushing responsibilities.  Opportunities to make an extra buck are all but impossible.  In the second and third years, however, there is much more elective time.  During these ...

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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 making tough ...

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The sister of one of my best friends went off the deep end in college.  We will call her Trinity. She got caught up in the wrong crowd, made some bad decisions, and ended up dropping out of college.  The direction that Trinity ended up going was really distressing to her parents.  The crazy part?  They blamed it on the college that she attended. This was completely ironic, because she originally ...

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The savings rate in America is abysmal. As a result, many Americans rely on Social Security and pensions to fund their retirement. However, physicians would not be able to maintain their lifestyle on Social Security payments alone. And few physicians receive pensions from their employers. Therefore, they have to fund the majority of their retirement through savings. But how do you define savings rate? Let me count the ways. Do you use gross ...

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