I read a Facebook post asking what people were doing about a recent market drop. As much as I watch the market (very rarely), I didn’t know the market had dropped until I read that comment. This question was raised on a site that is constantly teaching people that there is no way to time the market. Those who follow me always agree with this concept, until the market drops, ...

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An excerpt from The Doctors Guide to Real Estate Investing for Busy Professionals. Only make offers on property you think would be good for you to own for 40-plus years. Don’t mistake this statement to mean if you are 70 years old then you shouldn’t buy real estate. Positive and ...

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An excerpt from The Doctors Guide to Real Estate Investing for Busy Professionals. Cash flow is the only method I use to determine the value of the property to me and is my decision-making tool. This is how I determine the price I’m willing to pay. This is the only way ...

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I often hear people talking about their “investment” in gold. Then there are those who have a “diversified portfolio,” and gold is one of their forms of diversification. I’ve encountered people who have $60,000 worth of gold bars in their home safe, in case of a major financial crisis. We all see the celebrities pitching gold on national television ads with “now is a great time to buy gold.” If you ...

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An excerpt from The Doctors Guide to Real Estate Investing for Busy Professionals. I left my 20-year general surgical practice at age 51, only 12 years after buying my first apartment complex. By then, my real estate investments were producing more passive income than I was spending. I no longer ...

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Back in 2001, we paid off our last personal loan, our home mortgage. At that time, we decided to begin investing in real estate with the money that used to go towards digging us out of our personal debt. Our real estate was held in an LLC, and we acquired loans to purchase these properties. In fact, most of our real estate was purchased with 100% financing. In 2002, the credit ...

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I am often asked the question, “Is it better to pay down debt or invest?” It is uncanny how often this question comes up. This question is asked as if those were the only two options to choose from. I never hear, “Should I go on a three week trip to Paris or invest?” “Should I buy a new car or pay off my debt?” “Should I buy disability insurance ...

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Many physicians have a poor understanding of personal finance. Since personal finance isn’t a required course in high school, college or medical school, physicians are often unprepared to handle their high income when they become an attending. Sometimes the results of this lack of education are not pretty. Other times it’s a downright disaster. Yet some of us are able to figure out this thing called money. I was thinking about ...

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When our kids were in the 5 to 9 age range, we used to buy each of them a souvenir on our vacations. They always wanted the most expensive item in the store, a great big teddy bear that cost $400. We would tell them no, they needed to pick something less expensive. They weren’t happy about not getting their first choice. It was then that we decided that we ...

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Locum tenens is a great way to make a living or earn some extra income. But frankly, there are some groups of physicians who should not even consider doing locums work. When you pair the right person with the right job, you can get employment bliss. But when the wrong person takes a job, both the employer and the employee are often unhappy. I believe everyone should enjoy the work they ...

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