Financial freedom means different things to different people, but to me, it’s when you can quit your day job and be able to cover your expenses with other sources of income. The dollar amount depends on your unique situation, where you live, and the lifestyle you lead. I believe all physicians can attain financial freedom, but some encounter obstacles that delay them from reaching that point and sometimes keep them from ...

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Within the medical community, there seems to be a prevailing belief that when it comes to business and finance: Well, we’re just not very good at it. Some chalk it up to the lack of financial training we received in medical school. Others say it’s simply not in the physician’s DNA – that our brains are wired differently. I would disagree. In reality, I’ve seen many, many physicians become successful ...

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At some point in your investing career, you’ve likely heard of a stock that’s gone on a ridiculous run or a certain part of town that has now become the trendiest in the area, and you’ve kicked yourself for not investing. We’ve all been there. Well, the cliche is true: hindsight is indeed 20/20. In hindsight, who wouldn’t have purchased as many shares as they could of Amazon or Apple back ...

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I got together this past weekend with a few of my medical school classmates and ahhh, the memories. Being in the trenches together, just like in residency, tends to create a bond that remains throughout time. We picked up right where we left off and talked about the good ol’ times, how life used to be, and how it is so different now, especially because we now all had families. That ...

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Imagine, if you will, that you’re an anesthesiologist. You’ve been part of a successful practice for over 10 years. You can walk down your neighborhood street and run into mothers whose epidurals you’ve helped place. You’ve established a home, a community, and your children are in a great school system. One uneventful day, say Wednesday, you get an email from the hospital administrators announcing that there’s going to be a meeting ...

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“There’s an app for that.” The phrase became so popular with the advent of smartphones that Apple even trademarked it. There are currently 3.8 million apps available on Android devices and over 2 million available to Apple iPhone users. Does that mean that we’ve reached a limit on new and useful apps that can be created? Absolutely not. Especially in the medical world, it seems as if there’s so much room to ...

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It seems like everywhere I look these days people are talking about passive income streams: why you should start them, which ones you could start, how they can change your life, and how much money you can make from them. Doctors commonly look for ways to create passive income as a way of being able to work less while still maintaining the lifestyle they want or honestly to quit ...

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“Do not wait, the time will never be just right.” – Napoleon Hill “The perfect time to start something never arrives. Start now.” – T. Harv Eker Timing is everything. In life, love, and business, this axiom holds true. At least, that’s what we tell ourselves. But is this always the case? As a reader of this blog, you probably have some desire to establish some streams of passive income. So if you ...

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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 fear of running out of money in retirement is very real. In fact, it’s the number one fear among older adults – even over declining health. According to the Transamerica Center for Retirement Studies, 43% of adults surveyed said their greatest fear about retirement was outliving their savings and investments. This very fear is what keeps people working well past what might have been their retirement age. It also makes people take ...

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