Christopher Guest Post: Miss Bonnie MD

 

What in the world is a Christopher Guest Post?

 

Inspired by Nigel Tufnel, the character portrayed by Christopher Guest in Spinal Tap, I took Mr. 1500’s ten questions, and amped them up to eleven.

 

If you’re not familiar with the scene, take 50 seconds to watch this video and enjoy the dialog between Nigel and Rob Reiner.

 

I decided I’d start a Q&A of my own. Not satisfied with just ten questions, “this one goes to eleven”. Just like Nigel’s amplifiers.

 

 

I’m a dermatologist which is part of the “ROAD” to happiness specialties. It’s true, our hours are great and few to nil emergencies. I went to medical school at Columbia and we had a robust inpatient dermatology service. I fell in love during that rotation. My first job out of residency was running the inpatient consult service. Yes, I actually showed up to the hospital when a consult was called.

I’m still early in my career but I would choose medicine again despite all the things going on that make medicine harder to practice. With the changing climate of practicing medicine, it’s more important than ever to be on top of one’s finances.

Describe your blog and tell us why your blog would appeal to a physician seeking FIRE in eleven sentences.

 

Miss Bonnie MD’s mission is to empower women physicians to find financial freedom. When you handle your finances, you can have the ultimate work life balance.

Women physicians are often working hard at the hospital, running the household, and doing the majority of childcare. We are sometimes even tasked with taking care of aging parents. That’s a lot to figure out! I’ve made a TON of mistakes and started “late” (finished residency at age 38!) to all this. Yet, I am on my way to FI. So I hope my story can show other women that they can do it too.

My blog isn’t about FIRE per se although I’ll admit I have drunk the FIRE Kool-Aid recently.

I strive to make financial education accessible and approachable. I do this through my blog, the Facebook group, or chatting with Carrie over at the Hippocratic Hustle.

What inspired you to start a blog of your own? Was there a particular event you remember that made you feel your blog had arrived? Any big plans for your blog in the future?

 

My friends encouraged me to start a blog when I became active on the Facebook group. I found myself typing the same stuff over and over again. It soon became easier to just post a blog link. BTW, I think I used your guide to starting a blog to get started!

I get excited whenever anyone shares my stuff (big thanks to you PoF!). Speaking at the inaugural WCICON was a big moment for me. I hope to do more speaking in the future!

After FINCON18 I signed on with a design firm to re-brand and redesign my website so I am really excited about that!

Give me eleven posts you think Physician on FIRE readers might want to read.

 

“I do” is a legal contract

I love you? Pre-Marital Financial Planning

Ultimate Financial Planning Guide For The Physician Mom To Be

Financially Ill-Prepared Parents

4 Part Series on Financial Advisors

“When I’m rich, I’ll give”

The Other Type Of Burnout

Eggy May Have More Accounts Than You

Rethinking Emergency Funds

Interviews with Real Women Physicians

Why A Physician Woman Should Strive For Financial Independence

At what age are you most likely to retire (or at what age did you retire) from full-time work? What are you doing to help realize your retirement target?

 

Matt says I already work part time …

Currently, I have a decent balance working 4 x 8 hr days. But as you know, running a blog isn’t exactly a part-time hobby. I’d love to see patients 2 days a week – so basically go half-time from what I am doing now. My goal is to get there within 5-7 years so age 48 at the latest. This also happens to coincide with when my stepson graduates high school giving us a bit more flexibility with our location. We’d love to move out to the west coast or possibly Hawaii. I’ve kept my CA medical license for a reason :).

I call this stage pre-FI – where you’re not FI but you’ve reached a point where you don’t need to save and invest as much money anymore. You’ve put in the work to get that money making machine going, but can’t yet draw down on it. Let it grow and make enough income to cover spending.

My money making machines are mainly investments in index funds in tax advantaged accounts (we max our work 401(ks), Roth IRAs, HSAs, and we both put some into our solo-401(k)s) and a regular brokerage account. We also just started investing in Real Estate Syndicates to diversify our holdings. We aim to save and invest a minimum of 30% of our gross income annually. We paid off my student loans earlier this year and are debt free.

What does an ideal retirement look like for you? What will you do with your time when full-time work is in your rearview mirror?

 

My idea of what an ideal retirement looks like keeps changing! Thankfully I love being a dermatologist. I’d love to just work less.

But let’s say I didn’t have to work as a derm at all for money – hmm, would I “work”? Maybe, maybe not. I would probably staff resident clinics at the local university or staff a free clinic. We physicians have a highly specialized skill and every day I see patients I know that my skill set is needed.

But, I’d have no problem filling up my day if I didn’t see patients. I’d take Jack to school in the morning (or maybe I’d even home school). I’d go to yoga or work out. Cook a bunch of amazing food (I may buy some extra fancy attachments for my pasta machine for example). Pick up Jack from school and hang. I’d also be planning amazing trips. It may seem kinda boring, but I want to be available when he’s older and he needs me more. That iGen study scared the bejesus out of me.

One goal we have is to take a sabbatical when Jack is a little older, like age 7-8, and travel the world for several months.

I’ll give you eleven sentences to dish out advice to a young physician. Any and all advice is welcome. We talk about personal finance, so money is fair game, but if you have advice on being a better doctor, a better parent / spouse / friend / human, we’re all ears.

 

Learn the ropes of personal finance so that you can really get to the fun stuff – creating the life of your dreams. That’s, IMO, the ultimate luxury gift to yourself.

Be present. Put down the phone (or insert other piece of technology here).

Cultivate a practice of gratitude not attitude.

Nurture your friendships. Make new ones. It’s the only thing that has been proven to make you happy.

Being a patient changed me as a doctor. Patients are often scared and nervous to see you. Kindness and an ear go a long way.

You’ve got eleven days to visit anyplace in the world with an $11,000 budget. Where do you go and what do you do?

 

I’d have no problem spending that money on food & wine and nice lodging.

Day 1 – Eat at Noma in Denmark

Day 3 – Eat at Le Cinq in Paris

Day 4 – Head to Reims and have some awesome champagne

Day 5 -11 Italy. Lots of pasta and wine.

Name eleven beverages you enjoy. You can be as general or specific as you like.

 

I love a cup of freshly brewed coffee in the morning. Anything more than a cup gives me a headache.

Otherwise I basically just drink water during the day. I don’t do juice or soda.

I love wine – red, white, sparkling. I visited many wineries when I lived in Southern California and San Francisco. My favorites include Sea smoke Pinot Noir, Stolpman Roussane (they make great Syrahs too), and any wine by Foxen. I wish I knew more about French wines. I’ve been all over Italy and love their wines. We love the wines by Planeta and Arianna Occhipinti in Sicily. Frappato and Nero d’Avola are two Sicilian wines we love. I met one of the winemakers of Medici Ermete – they make a great Lambrusco. Also love me a good Barbaresco. Weakness for Champagne and Sauternes.

Now, eleven foods.

1. Eggs
2. Pizza
3. Pasta
4. Medium rare strip steak or ribeye
5. Sushi
6. Cannolis
7. Miso black cod
8. Mac n’ cheese
9. Kimchi
10. Soon tofu soup
11. Korean BBQ

How did you first learn about PhysicianonFIRE.com? What one piece of advice do you have for me?

 

Gosh, I’m not exactly sure but probably through the White Coat Investor. I didn’t know what FIRE was when I discovered your blog and honestly, it seemed like a pipe dream. Now I realize it isn’t!

Advice for you? Keeping spreading the FIRE!