Pay Yourself First? No, Pay Yourself Last.

pontoon with slide

Today’s insightful guest post comes to you courtesy of a financially independent physician who has had a blog longer than WCI and I combined. Dating back to 2007, has been sharing wisdom in numerous areas including investments, financial planning, careers, and he has written a number of pertinent book reviews for the FIRE minded physician. Check out his counterintuitive advice below, check out his site, and look for him on Twitter with the handle @Wealthy_Doc.   Pay Yourself First? No, Pay Yourself […]

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Maximize your Practice’s Profits: Payer Rate Negotiation vs. Concierge Practice vs. Direct Care


Employed physicians may not have a lot of autonomy, but they don’t have to think much about the billing side of medicine, either. It’s a jumbled mess of ICD-10 codes, relative value units, and if you work in anesthesia like I once did, ASA units and CPT codes. Every payer offers different rates for the various charges, and your ability to negotiate fair rates to cover expenses and pay yourself appropriately can be the difference between a thriving practice and […]

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Why Paying Down Debt Aggressively Was the Worst Financial Decision I’ve Ever Made

This weeks guest post is written by Matthew White with White and McGowan. Their firm is unique in that they handle financial planning exclusively for physicians and dentists. Equally distinguishing, is that Blake McGowan is not only a financial advisor with the firm, but he’s also a practicing physician. You can read Matthew and Blake’s story here at to see how the two came together to form White and McGowan more than five years ago. The firms’ vision aligns […]

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Your First Attending Paycheck: White Coat Rumspringa!

Spread Eagle WI

I’ve got a fun post for you today. The Crispy Doc, who I imagine is crispy from either burnout, the California sun, or some combination thereof, makes an excellent analogy using a phenomenon with a fantastic name. Rumspringa! That sounds delightful — let’s order a round for the whole table and don’t forget the little umbrellas. What’s that? You don’t serve those here? Is this because Bo forgot his ID? He’s over 21; I promise you. Apparently, I have a poor […]

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Why are Doctors Burning Out? Three Ways Financial Independence Can Save Us

The timing of this post couldn’t have been better. I decided to take a break from practicing medicine, and likely a permanent one, with my last shift ending just a few short days ago. Am I burned out? Maybe a little. Could I continue working in the same capacity? Absolutely. Yet, I have felt compelled for quite some time now to do something different. What spurred the change of pace just a dozen or so years into my anesthesia career? […]

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The Sunday Best (8/11/2019)

The Sunday Best

The Sunday Best is a collection of articles I’ve curated from the furthest reaches of the internet for your reading pleasure. Every week, I scan hundreds of headlines, read dozens of posts, and bring you the best of the best to save you time and mental energy. Financial Independence (FI) is a primary focus, but it’s an awfully broad topic. I tend to approach FI and early retirement from a fatFIRE perspective and through the lens of a physician, so […]

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The 5 Benefits of Financial Freedom

Financial Freedom

Have you heard? Dr. Peter Kim is financially free from medicine. Note that he continues to practice, but by choice and on a less-than-full-time basis. It’s been nearly five years since I realized that I was in a similar position, and like Dr. Kim, I chose to continue practicing for a while, slowing down to part-time for the better part of the last two years. I’m days away from taking full advantage of my financial independence, as I turn in […]

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2019 Q2 PoF Portfolio & Blog Performance Update

Every three months, I publish an update to let you know how well my own portfolio has performed and what’s going on with the blog. Some people like to know the blog stats, believe it or not. I used to track spending, too, but after three years of consistent spending, I decided there was little value-add for us to continue such close tracking. I may start to track our post-FI budget when we are settled into our new, more nomadic […]

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How to Find Your Side Hustle

Find a Side Hustle

When you get tired of doing the same thing day in and day out and are ready to do something different, a side hustle can give you the outlet you need, while creating some income on the side, as well. Sometimes you have to seek out that side hustle. Other times, it finds you. I thought I might enjoy writing on a blog of my own, and within a year, I had a legitimate side gig. My friend Travis Hornsby […]

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Top 5 Reasons Tracking Spending is Problematic

You need a budget! No. No you don’t. OK, fine. But then you need to track your spending. Every dollar! Yeah, I’m not so sure about that, either.   If you’re a born spender and have never met a credit card you didn’t like, you would benefit from both a detailed budget and the tracking of every penny going out the door. Personally, I’m more of a born saver. Or maybe I learned to save. Frankly, whether it’s nature or […]

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How to Choose a Medical Specialty


Choosing a medical specialty is no easy task. You’re faced with this task as a third year medical student trying to look good on every clerkship while working long hours and often with only the view of what the specialty looks like from an academic perspective. At one time, I thought I might enjoy pediatrics, but then I did a 180 and considered radiology. Somehow, I landed on anesthesiology, which I think was actually a great choice for me. Today, […]

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Six Reasons Nothing Matters More Than Your Retirement Date After Age 50

Blue Chairs

If you’re a follower of both Physician on FIRE and The White Coat Investor, you already know that WCI is not as big a fan of early retirement. In fact, his post entitled 14 Reasons Why You Shouldn’t Retire Early was instrumental in my decision to actually start a blog. I could easily refute most of those reasons (and he readily admits he has a counterpoint for each one, as well). Today’s Saturday Selection from the good Dr. Jim Dahle […]

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Top 5 Mistakes Doctors Make With Disability Insurance

Pattern Life

Before we start to talk about what we get wrong with disability insurance, I should tell you that I personally do not carry disability insurance. It’s true. If I were no longer able to perform my duties as an anesthesiologist, I would no longer earn a paycheck. And yet, reviewing the list below, I don’t believe I’ve made a single mistake regarding disability insurance. You see, I did once buy a true own-occ disability insurance policy from a reputable company […]

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The Epochs of Early Retirement

Jaco Beach

When discussing the funding of early retirement, I’m guilty of being fairly vague. Save at least 25 years’ worth of anticipated expenses and you should be good to go. That’s what the 4% Rule says, right? The vagueness is intentional. Everyone’s situation is different, and you have to customize the way in which you’ll access your money, based on how much you have, in which accounts it’s located, and what income streams you might currently have or expect to benefit […]

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529 Plans: What You Need to Know About College Savings Plans

529 Plan MN

Happy 5/29 Day!   Shortly after our children were born, we started 529 plans to get a head start on college savings. Before they could walk or talk, these lucky kids had thousands of dollars invested in a tax-advantaged account with many years for that money to compound before they might need it.   I say “lucky” because the vast majority of kids don’t have a 529 plan. Greater than 97% of families in the United States don’t use them, […]

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12 Ways to Simplify Your Taxable Brokerage Account

My taxable account might be my favorite account. It holds about half of our retirement assets, is immediately available, and is more flexible than any other account we own. When I first opened one, I didn’t have a guide like this. I bought actively managed, tax-inefficient funds. I didn’t know what tax loss harvesting was. It was far from optimal, but at least I was saving and investing the leftover money after maximizing all of my tax-advantaged options rather than […]

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6 Lessons I Learned from Failed Business Attempts

Behind most successful ventures are a string of failures. It’s true. A person’s first grand idea rarely works out. The key is to fail forward and learn from your mistakes. That’s what Michael Norton, the author of today’s guest post, has learned. He’s actually got a half-dozen lessons that he’d like to share. Michael, please tell us about who you are and what you do. The remainder of this article was written by Micahel Norton of Funds Inc. I received […]

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Christopher Guest Post: Can I Retire Yet?

Can I Retire Yet?

I have the distinct pleasure of welcoming Chris Mamula back to the site. The prolific writer who started Eat the Financial Elephant, took over the reins at Can I Retire Yet, and co-authored a book with the Choose FI guys somehow found the time to answer my silly set of 11 questions. Regular readers will recognize the name, and you may recall his previous guest post, Retiring Early in Healthcare Without a Physician’s Income. Chris will be the first to […]

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Rewards Made Easy: The Best Cash Back Credit Cards

Top Cash Back Cards

Every time you swipe a credit card, the merchant pays a fee in the neighborhood of 3%. Businesses that want to be profitable will factor those costs into the price of the products and services they offer. If you assume you’re paying about a 3% premium on everything you purchase, you might as well do what you can to get most of that money back. As someone who likes to optimize, I’ve often found ways to get more than 3% […]

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Healthcare Costs in Retirement – Don’t Make this Big Mistake

safety first!

Today, we’re going to talk about the healthcare costs all will face in retirement, at least under the system we currently have for traditional-age retirees, which is Medicare. If you were hoping to read about healthcare costs in early retirement, I had a guest post on that last year, and I plan to share more as I learn what’s going to work best for my family and me. I should have an answer later this summer, but I’ve got a […]

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