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 expect to see those biases in the selected articles.
For more great articles, take a peek at The Sunday Best Archives. Now let’s get to the best… The Sunday Best!
Now in his 60s and a dozen years into retirement, the Leisure Freak reveals a retirement reality. The Boring Early Retirement Truth: It’s What You Make It (and how to make it more exciting).
Can FIRE be exciting if you go it alone? Gary Grewal of Financial Fives shares his plan and post-FIRE goals. FIRE Crossroads 023: Single & Frugal Equals FI by 40.
Mike Piper, the Oblivious Investor, details the numerous administrative benefits of using a donor advised fund to manage your charitable giving. What’s the Point of a Donor-Advised Fund? Incidentally, last week I moved over $500,000 of our donated dollars to CharityVest, a newer DAF with lower administrative fees than the big players (and no admin fees for the rest of the year if you act fast!).
Carl from 1500 Days joins the million-dollar-loss club! You’re in good company, Carl, and you have a great perspective. Six Thoughts On Losing $1,000,000.
- Bonus: Life Goal: To Lose a Million Dollars, a goal I “accomplished” two years ago.
What if, instead of losing a million dollars, you were to earn a million dollars? Here’s what you’d owe if you earned $1M in 1 year, 4 years, or 10 years. Taxes on a Million Dollars of Earned Income.
WCICon22 is now available as an online course with up to 17 CME, and it’s discounted now through next Monday. If you weren’t able to join us in person, Josh Katzowitz, WCI Content Director and Forbes boxing contributor, shares his Highlights and Behind the Scenes Stories from WCICON22.
I’m a stats guy, so I find survey results like these fascinating. All about the White Coat Investor readers: With over 3,000 respondents, The WCI Annual Survey Results Are In! Like my readers, more than half can be considered multimillionaires.
Passive Income MD also revealed his survey results, with over 1,000 readers weighing in. Interestingly, fewer than half of his readers are single-millionaires, let alone multimillionaires, a stark contrast to the PoF and WCI readership. PIMD End of Year Survey Results.
I guess those most interested in real estate tend to be early in their career and/or further from FI. Dr. Jordan Frey, the Prudent Plastic Surgeon, is one of them. His naivete showed in some decisions he made here, but he learned a lot! 3 Real Estate Lessons Learned from Our Last Investment Property.
Learn from the missteps of others and get real estate right the first time by leveraging a community of experienced and educated investors. “Coach” Chad Carson has opened Real Estate Deal School, a comprehensive 9-week program designed to get you started on the right foot, for less than half the price of comparable real estate courses. Cart closes tomorrow night!
- Enroll in the course and eschew the money-back guarantee, and I’ll buy you Chad Carson’s Retire Early with Real Estate and another real estate book of your choice (up to $50 total value).
Chad reached FI in his 30s, and there are quite a few others who have achieved, or are attempting to achieve the same thing. A BBC Reel of 8 minutes’ length shares their stories.
Playing with FIRE: The millennial movement to quit work.
Another week of war in Europe has passed, and Ukrainians have proudly stood their ground. It’s ugly, though. MedFI shares a European perspective on war, money, and the failing Russian economy. War – What Is It Good For?
A fellow Brit cleverly channels 007 while sharing quotes, facts, and stats on the current state of the Russian stock market. Interestingly, as Monevator points out, some ETFs are trading well above NAV, while others are far below. Weekend reading: Russia goes to zero.
Barry Ritholz reminds us not to lose much sleep over Russian stocks becoming pretty much worthless. Exiting Russia. If you’re a Russian on the other hand, you might be more heavily impacted, but your energy should be focused on ousting your corrupt, warmongering leader.
How to Help Ukraine
I give mad props to the thousands of volunteers traveling to Ukraine to help battle the Russian insurgency. They are much more brave than I could ever be. I’ll be helping by donating money and raising awareness in the hopes that others will do something similar.
You can Google “How to Help Ukraine” and find dozens of organizations doing amazing work amidst this humanitarian crisis. For now, we’ve chosen these five charities to receive $1,000 apiece from our donor advised funds.
Fidelity Charitable does not yet have a category for Ukraine relief, so I chose to leave my grants to help out “Where it’s Needed Most,” which is the default option. I did this for two reasons.
One, the money will be released more quickly than it would be if I were to name my own cause and write it in. Someone has to review this, and there can be a delay with this process. Help is needed now.
Two, money is fungible. I’m giving to organizations that do good works around the world. If the money I donate goes to help different refugees, flood or earthquake victims, or even to cover the cost of the charity’s website hosting, that frees other people’s donated money to help out in Ukraine. And, obviously, there are other places that need the help, too.
Why did I use Fidelity Charitable and not Charityvest? Some of the money I transferred to Charityvest is still in transit. Also, I’ve made grants from Fidelity to 4 of these 5 charities before, making it really quick and easy. I intentionally left some money behind at Fidelity Charitable to be able to make donations until my Charityvest DAF is fully funded and good to go.
Join Me and DLP in Person… or Virtually!
In a week and a half, my family and I will be in Ponte Vedra Beach, FL for the next DLP Prosperity Meeting. Registration remains open and free, but if you can’t make it in person, you can still be part of the action; you’ll just have to mix your own cocktails if you can’t be there for the happy hours.
Jean Oelwang is the founding CEO and President of Virgin Unite, an entrepreneurial foundation that builds collectives, incubates ideas and re-invents systems for a better world. As part of her work over the last three decades, Jean has helped corporations put the wellbeing of people and the planet at their core, including working with over 25 Virgin businesses across 15 industries to help embed purpose in all they do.
Jean is just one reason you should join the DLP Capital Dinner on March 17 in Ponte Vedra Beach, Florida. You will hear exclusive insights from Don Wenner, CEO and Founder, as he discusses DLP’s fourth quarter earnings and 2021 reporting, highlights their latest investment opportunities and talks a bit about what the future will bring. Best of all, you can attend virtually if you can’t make it in person.
Capital Dinner Highlights
- DLP Capital fund overview and performance reports
- Funding case studies and success stories
- DLP Capital’s impact on four crises: affordability, jobs, wealth and happiness
- Opportunities to help your family and others to dream, live and prosper
A Non-Clinical Pearl
We’ve all heard of clinical pearls. Those nuggets of knowledge that can be key in diagnosing and treating a patient.
This week, my wife encountered a different kind of pearl while dining amongst the mangroves in Ozello, Florida.
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Free Coaching & CME in the 2022 Leverage & Growth Summit This Week!
Dr. Peter Kim interviewed me and a bunch of other more enterprising physicians for the 2022 edition of the Leverage and Growth Summit that starts this week!
Once again, you can register (here) for free and view every talk within 48 hours of its release. There will be optional lifetime access with a VIP pass, which costs less before the summit starts, more during the summit, and even more afterward.
New this year is a CME option and some free coaching. The pop-up Facebook group for the event is now open for enrollees, and the days of talks start rolling out on March 9th, concluding March 13th. This is a great opportunity to learn from other physicians who have leveraged their knowledge and connections in entrepreneurial endeavors. See you there!
2 points per dollar spent (2% cash back equivalent). Up to $300 credit each year for travel booked on Capital One Travel, 10,000 bonus miles each account anniversary ($100 value). Unlimited Priority Pass Lounge Access, $100 Global Entry or TSA Pre✓ credit. $395 fee can be more than offset with travel credit & annual point bonus
Have an outstanding week!
-Physician on FIRE