I’ve decided to become more serious about my debt payoff and increase the amount of money I’m saving. The quickest and easiest way to do this is to pick up extra shifts. My company pays well, but the highest pay per hour in my area comes in the form of using Locum Tenens contracts. In order to accelerate my debt payoff and savings rate, I’ve decided to sign up for these jobs during my time off.… Read the rest
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The fiancée and I are getting closer to saying “I do” and part of our conversation of things to do before the wedding turns into a discussion about finances. I run a personal finance and investing blog for doctors, so this should not be a huge surprise to my readers. Luckily, my future spouse and I appear to be almost on the same page financially with our wants and needs.… Read the rest
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I am happy to have a guest post for today’s article, written by Jamie K. Fleischner with Set for Life Insurance. Planning your financial future should include risk management. Part of risk mitigation is obtaining the right amount and the right kind of insurance. Spending money to help mitigate a one time financial loss that could lead to bankruptcy is on the surface a wise choice.… Read the rest
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Newly graduated physicians may find themselves dealing with a foreign process, billing. The amount of training for billing while in residency varies widely. Some programs have only brief discussions while other programs have residents do some of the billing. I was lucky in that my residency program had us rotate through 4 different hospital systems. In two out of the four, the residents were responsibility for entering in the diagnosis and bill for level of service.… Read the rest
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Since the inception of this website there has been one major change to the website in layout but no changes to the logo or header. I’m happy to announce the newest change, the new logo and header for the for InvestingDoc website. The theme for the website is personal finance and investing for physicians. I think that the logo and header do a better job of exemplifying the purpose of the website.… Read the rest
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This weekend I met with a good friend of mine who decided to take a weekend vacation to Austin. It was a good time to catch up on how life has been going since we last had seen each other several years ago. We reminisced about the good times we had in medical school. Since he is also a new attending the discussion arose as to how life naturally changed with an increase in pay.… Read the rest
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There are some occasions where it makes sense to spend a little extra. Buying tires for cars, a quality mattress, good shoes, and good food are all times when paying for quality doesn’t seem like a bad idea. After years of being frugal I finally spent some money on a purchase that serves no other practical purpose but my enjoyment. This week I bought a DJI Mavic drone.… Read the rest
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The IRS offers a service where almost any individual making less than $64,000 a year can file their taxes for free. Sounds too good to be true, well the catch is that you have to be comfortable with some basic math. In past years, I have taken advantage of the service and it worked quite well. Filing taxes may seem daunting and expensive, but rest assure – the thought of filing is worse than the actual process.… Read the rest
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While searching for the first job right out of residency new doctors are often focused on money and location. The student debt has to get paid down somehow. This is also the first time in a decade a new doctor may have a choice where they live without entering a wish list into a computer system. Money, location, and schedule is important.… Read the rest
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By the end of residency I would be willing to bet that many graduates had at least one financial planner give a talk to their class. My residency was no exception with multiple groups who billed themselves at wealth builders came to visit out campus to get people to sign up for their service. Some of them were good, but most others had complicated fee structures and aggressively pushed poor investment choices such as whole life insurance.… Read the rest
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