The Sunday Best (1/29/2017)
The Sunday Best is a collection of a handful of posts I share with you each week. With so many informative and inspirational writers out there, I have no trouble coming up with a number of worthwhile reads each week.
Every featured post should be of interest to any physician seeking financial independence. Some will be written by your physician colleagues; others will be written by our friends and patients who share common goals and interests.
Presenting, this week’s Sunday Best:
Sadly, this next post relates to the first. A resident completing training in Australia discusses the death of two colleagues in There is Something Rotten Inside the Medical Profession @ KevinMD.
Speaking of something rotten in the medical profession, Dr. Westby Fisher a.k.a. Dr. Wes has been tracking stinky dealings involving MOC, the ABIM and ABMS. He discusses a few of the conflicts of interest he’s discovered at one of his alma maters in ABIM Stationary Sidebars: MOC and UCSF.
Let’s get back to investing. As much as I liked how one post segued into the next, money is supposed to be prominently featured here. Future Proof MD poses a simple question in Investing 101: To DRiP or Not to DRiP?
In an oldie but goodie, The White Coat Investor posts to KevinMD on a topic near and dear to my heart. 5 Tips For Physicians to Achieve Financial Freedom.
Big ERN has seen a surge in site traffic due to his SWR series, which is like the Trinity Study on steroids. I featured the first two posts the Ph.D. economist @ Early Retirement Now put out, and he’s added five more.
- Part 3: Safe withdrawal rates in different equity valuation regimes
- Part 4: The impact of Social Security benefits
- Part 5: Changing the Cost-of-Living Adjustment (COLA) assumptions
- Part 6: A case study: 2000-2016
- Part 7: A DIY withdrawal rate toolbox (via Google Sheets)
Last week I reposted one of my more popular articles on Sermo, which led to an interesting discussion about early retirement. More on that below, but first I’d like to highlight some of the services offered by one of my Silver Sponsors, PKA Insurance.
Like other sponsors, PKA is among the good guys. Their primary focus is on disability insurance (request a disability quote here) and term life insurance (compare instant life quotes here). Additionally, you can get quotes for Ex-Pat Medical, Travel Medical, Trip Cancellation, Vision & Dental Insurance.
Who Are the Physicians Who Retire Early? For those who are not familiar, Sermo is an online social network for physicians. If you have an account, you can see the post I shared on Sermo here.
Alongside the post, I asked a poll question. “Would you retire by 45 if you had the financial means to continue your current lifestyle indefinitely.” Basically, would you do what I intend to do?
While 36% said yes, only 26% said no. I allowed users to add their own answers, which is where the other 38% of the answers landed.
Most of those said they would work less, or would have if 45 hadn’t already passed them by. 3% said “you would be a fool to say no!” which is another way of saying “yes.”
The post itself received 144 comments, which blows away the most comments I’ve received on a post here. If you have a minute, they’re worth a read.
I don’t spend a whole lot of time on Sermo, but I’ve been visiting a bit more frequently lately. Another forum I like to visit is the relatively new Rockstar Finance forum. There are a lot of bloggers on there, but all are welcome. Among the physician bloggers, I’ve seen The Happy Philosopher, EJ from Dads Dollars & Debts, Miss Bonnie MD, and Some Random Guy Online there. If you’d like to see what we’re talking about, introduce yourself and browse the forum.
Another new and exciting development comes from The White Coat Investor, Dr. Jim Dahle. I’ve been an active participant in his forum since inception, and now he has his very own podcast, which includes a little ranting, some education, and a Q&A based on e-mails, comments, and forum discussions. He unleashed five episodes at once, and they’re worth a binge listen if you’ve got the time. I listened here at overcast.fm, and they’re also available on iTunes.
Have a great week!
-Physician on FIRE