Money, Finances, and Retirement

These 3 items often give people an upset stomach when talking about the future and planning.

My parents were budgeters… not because they enjoyed it, but because they didn’t have the means to be extravagant. I grew up in a two parent working household and that was to make ends meet. I was extremely fortunate that my parents valued my future, and it was evidenced in how they spent and saved their money. Home cooked meals were the norm — until I started in activities that kept me at lessons or practice from the time school recessed until the late evening. I never questioned the sacrifices they made nor the financial understanding of what they were doing. I’ve learned a lot from how they spent their money, and it’s something I want to pass on to my kid(s).

When I look around at people and their spending habits, I’m appalled at what they purchase. Eating meals out every night…. buying tons of clothes/makeup/shoes…. these are just some of the things that just seem to be wasteful to me. Do I do it? Yes, but minimally. Do I think about it every time and wonder if it’s worth it? Absolutely. But, it’s never too late to start a plan or get on track to be financially savvy or responsible.

If you’ve just graduated high school…. here’s a great place to start: What I Wish I’d Known at 18 from Physician on Fire.

Helpful links to tackle:


Updated March 19, 2019

I’m always curious as to what others are doing for financial success.  Do people do side hustles?  Are you guys knowledgeable in stocks and options?  Are some really savvy at retirement accounts?  What are people doing these days to plan for a solid financial future?

A couple of years ago, I came across a website called White Coat Investor.   I got an Audible book of White Coat Investor and I wish I had it while in college and about to enter medical school.  I continue to be on their email list bc it’s one of the few websites I found that includes helpful financial tips in a newsletter.  The one I came across today was a subsidiary of WCI, called Physician on Fire.  They have a great post on The Cash Balance Plan, which our group started offering to us a couple of years ago.  It’s worth a read…as are most of the articles at POF.

About a week ago, I got an email and followup call from a consulting firm requesting various advice/expertise on medical devices.  This was the first time I had been contacted re: a consulting opportunity.

Another thing I could use is more diversification of my stock/investment portfolio.  Here’s a great article for considering adding new asset classes.

Side Hustles for Physicians


Backdoor Roth

What is a backdoor roth?

Is it worth it to setup?

How to setup a backdoor roth:

Ways to screw up a backdoor roth IRA



16 questions that will show you who you are and what you are meant to do

I don’t know if I fully believe this, but I stumbled across this article on twitter.  Seems harmless right?  I just may learn a thing or two about myself and others.

From Thought Catalog: 16 questions that will show you who you are and what you are meant to do

  1. What, and who, is worth suffering for?
  2. What would you stand for if you knew that nobody would judge you?
  3. What would you do if you knew that nobody would judge you?
  4. Based on your daily routines, where will you be in five years? Ten? 20?
  5. Who do you admire most, and why?
  6. What do you not want anybody else to know about you?
  7. What are a few things you thought you would never get over while you were going through them? Why did they seem so insurmountable? How did you?
  8. What are your greatest accomplishments so far?
  9. What would be too good to believe, if someone were to sit down and tell you what’s coming next in your life?
  10. Who from your past are you still trying to earn the acceptance of?
  11. If you didn’t have to work anymore, what would you do with your days?
  12. What are the five most common things in your daily routine (aside from the basics, such as eating and sleeping?)
  13. What do you wish those five most common things were instead?
  14. If you really believed you didn’t have control over something, you’d accept it as matter-of-fact. What do you struggle to accept that you have “no control” over? What part of you makes you think or hope otherwise?
  15. If you were to walk through your home and put your hand on every single thing you own, how many of them would make you sincerely feel happy or at peace? Why do you keep the rest?
  16. What bothers you most about other people? What do you love most in other people? What bothers you most about yourself? What do you love most about yourself? (Dig until you see the correlation).