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January 23, 2017 admin 0 Comments

Why I like Dividend Reinvestment Plans (DRIP)

Part of my retirement portfolio includes individual stocks and several of them pay dividends quarterly. The online trading platform I use gives several options on what to do with these dividends. The money gained from dividends can be either reinvested in the company automatically (Hence the name dividend reinvestment plan / DRIP) or deposited into a savings account. Having dividends automatically reinvested can benefit a retirement portfolio by adding compounding returns to an individual stock.… Read the rest

January 20, 2017 admin 0 Comments

Rent Vs Buy As A New Attending

I’m getting close to being 6 months into my first job post residency and I have felt myself getting the urge to buy a house. The biggest factor came when my fiancee moved into my one bedroom apartment and we quickly realized that we simply do not have enough room. I find that my desire to buy a house is always at its peak when I write a check for $1,800 for a 800 sq ft apartment close to where I work.… Read the rest

January 18, 2017 admin 0 Comments

Going into medicine for the money

Choosing to enter into the medical profession for a primary reason of financial compensation would be considered by many a poor decision. Publications like this one from CBS add to the plethora of posts online about how a large number of doctors would not choose to enter into the medical profession again if they could do it all over, mainly for decreased reimbursements.… Read the rest

January 9, 2017 admin 0 Comments

What is in a physician employment contract

Signing the first contract out of residency or fellowship can be both exciting and anxiety provoking. Employment agreements, or as they are often referred to, physician contracts, are not as frightening as you think. However, with most things in life the devil is in the details. There are a lot of legal terms that are in the paperwork. Some contracts range from very verbose (the longest contract I received was 34 pages long), to quite short (shortest I received was 2 pages long).… Read the rest

January 6, 2017 admin 5 Comments

An update on my debt payoff

What a difference several months can make. It seems like it was not long ago I ran out of money waiting for my first paycheck and now I have six months of money saved up while I have dramatically increased my debt payoff. I couldn’t have done it without living frugally while having a huge increase to my income. Several people have asked about my debt payoff is going, so I decided to provide a post to update how things have been going and where I plan to attack my debt in the future.… Read the rest

January 4, 2017 admin 0 Comments

Rant: Residency was not harder back in your day

As a new attending, I don’t believe I can go a week or two without some older physician telling me how much harder things were when they trained. This seems to come up as a natural progression when someone notices that I’m new and asked where I trained. Soon after I reply comes the comments about how their training was somehow more difficult.… Read the rest

December 12, 2016 admin 2 Comments

Why medical students do not match

Its that time of year again where resident physicians are matching to fellowship and medical students are winding down their interviews to create their rank list. I remember this part of my medical career quite well. I was very excited for the upcoming change for more responsibility and actually become a doctor, but at the same time terrified that I might not match.… Read the rest

November 23, 2016 admin 5 Comments

Have I been too frugal and gone too far to save money

This week is my week off. I am one of the fortunate physicians that has a job that allows me to work 7 days in a row then have 7 days to do whatever I want without being on call. Usually the first few days when I am not working I tend to catch up on sleep since the 80-100 hours I put in during the week can be quite draining.… Read the rest

October 28, 2016 admin 5 Comments

It’s Payday At Last

I finally received my first paycheck and it feels sooooooo good to finally have an income again. Everyone with the group went though the same payment delay and it seemed that they were all excited for me that I’m finally received my first paycheck. When the coworkers reminisced about their time waiting for their first paycheck, we started to talk about retirement and our contributions.… Read the rest

October 3, 2016 admin 3 Comments

More Details: How I Spent My Emergency Fund

My last post focused on how my first months of residency have been financially. I included in that post that I ran out of money 3 months after residency despite having what I assumed was a healthy emergency fund saved up. After the post I received some emails asking how that could be since I previously mentioned that I had almost 6 months of funds saved up based on my assumptions of spending patterns.… Read the rest