Timeshares, for those who might not know, are a way to own the right to use a vacation resort. It comes in two forms, owning points or owning a specific room in a complex for a specific week. It’s like a partial ownership of a condo at a resort. These units can be traded for other timeshares all over the world. If you own a week, it can be traded ...

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Often a stay at home mom, like we have in our house, is not thought of as a contributor to wealth. Too often, only the person who “really” works and brings home an income is considered to be generating wealth. This is a case of incorrect thinking. The non-working spouse is a very big factor in attaining wealth. In the book, The Millionaire Next Door, the spouse is considered one ...

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A few years ago my son expressed interest in racing bicycles. I thought that would be a great way to spend time with him, and if I was going to be at all the races, I might as well race too. It would also help me take a few unwanted pounds off and get me into better shape. We started racing part way through the year and learned the nuances of ...

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It’s that time of year again. Over 30,000 medical residents are about to finish their training and start their first job. Many of them will make some big financial mistakes during their first year that will haunt them for years to come. One of the biggest errors many doctors make is to buy a house right after they leave residency. Society gives us a big push to own a house, after ...

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Upon retiring from clinical medicine and becoming a full-time author/coach (I like to say I’m repurposed), I was uncertain as to the amount of taxes I needed to pay. I have a complicated tax return with several K-1s that don’t surface until March. My final return totals 32 pages for federal and 5 pages for state.  After making an estimate of my tax bill at year end, I figured I ...

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In 2013 I began searching for ways I could change my career to reduce my workload, but not give up medicine altogether. During that time I took a cruise and looked at various jobs I could do on a cruise ship. One of the jobs I was qualified for, I thought, was to be a Cruise Ship Doctor. After talking with the ship’s doctor to find out what it was like ...

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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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