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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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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High performers constantly struggle with the issue of time management. The more things you are good at, the more people who think you have talent, the more opportunities you are presented with, the harder time management becomes. In order to manage your time, you must first grasp one crucial concept: You cannot “manage time,” you can only manage yourself and how you take advantage of time. Time will march on no ...

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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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In February 2017, I saw my last patient and left clinical medicine. Most people would say I retired. I have chosen to say I have repurposed. I no longer see patients, but I still work. I am writing the Doctors Guide series of books, keeping up a blog and working with physicians who need help with a financial makeover, usually to eliminate their debt, set themselves up for retirement or ...

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Recently I had three important events happen during a three day period that reminded me of the brevity of our life and the need to live life to the fullest every day. On July 4th, having planned celebratory events that day with friends and family, a CRNA in my home town awoke feeling poorly just before sun up. He was in great health the day before and lived a very active ...

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It’s amazing how frequently I cross paths with doctors who have never taken the time to actually assess where they stand financially. They tend to fall into a few categories; they never thought of it, they don’t want to know, or they feel they just don‘t have the time. When I work one-on-one with doctors on a financial makeover to get them on track to accomplish their goals, get out of ...

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One of the biggest complaints I hear when I discuss becoming debt free is the dread of living on a shoestring. We did enough of that in medical school, and we don’t want to do it again. Let me make something perfectly clear right up front, you absolutely do not need to scrimp and sacrifice to get out of debt and live debt free, but if you choose to, it ...

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We all can use advice from time to time. Sometimes that advice is about personal finances, Investing, or borrowing. When choosing this person, stay away from financial advisors who have a conflict of interest. The advisor who makes money on your investment decisions is like the pharmaceutical rep who is telling you all about his new medication and why it is better than what you already use. The advice might ...

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I recently was asked about taking a low or no interest car loan and using the money they had earmarked for a car to instead invest for a higher return. This “I can get a better return” game is very common and can be a dangerous game to play. Often it is used as a disguise to camouflage buying a car you actually can’t afford, while trying to sound like ...

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