“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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We all understand the concept of net income or net pay. If you’re an employee, it’s what you see deposited into your bank account after federal and state taxes, Social Security taxes, Medicare taxes, etc. are all withheld. If you’re self-employed, it’s what you’re left with after you set aside the funds for many of those same taxes plus paid off your business expenses. In real estate, the term is referred ...

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The idea of financial freedom is something everyone dreams of. Many of us are at different stages of that journey, but on some level, it’s something we all work toward. In a previous post, I mentioned that I’m financially free from medicine, and I’m happy to say that still holds true, even a couple months later. Not only that, but my passive income streams continue to grow without necessarily putting in ...

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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 ...

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We all know that life is unpredictable. In fact, the only thing that’s certain is that things will be uncertain. Despite this, or perhaps because of it, I think the majority of people are risk-averse. We’re concerned about future and its potential for unfortunate circumstances. If we weren’t, there would be no such thing as insurance–and there’s insurance for just about everything. While it’s important to think optimistically, knowing you have ...

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I am so excited to write this post. It’s been a long time coming, but in fact, it’s come years sooner than I had even dared to hope. Now, I can finally say that I am truly financially free from medicine and I wholeheartedly believe that anyone can achieve this. Setting the scene First, a little background. My wife and I are both physicians, and we’re both about six years out of training. We’ve ...

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Recently, I made the announcement that I am financially independent from medicine. As a quick recap, I’ll just say that I no longer have to rely on my physician’s salary as my primary source of income thanks to my other ventures, and yes, passive sources of income. Since then, the number one question I’ve received is this: “So, when are you going to retire?” Retirement as a way of life Well, the fact is ...

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I’ve been thinking about mortgages and savings a bit more than usual lately, and with good reason. My father recently retired from his nearly 40-year career as a physician, and in trying to be a good son, I’ve been helping him prepare for the transition financially. This involved taking an account of what he has saved up, his investments, and his expected cash flow. For him, the future that many ...

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