The Sunday Best (07/03/2022)

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.

Related topics that have become recurrent themes include early retirement, selective frugality, tax issues, travel, physician issues, and of course, investing.

For more great articles, take a peek at The Sunday Best Archives. Now let’s get to the best… The Sunday Best!

 

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With a name like Wealthy Doc, you’d think he’d have made better choices. An exhaustive list of his many Money Mistakes; Adventures of a tax-ignorant, overconfident, fickle financial fool.

 

The Physician Philosopher is also imperfect. If you’re anything like me, you’re imperfect, too. TPP 85: Money Mistakes Doctors Make.

 

Failing to create an estate plan is another mistake that many people make, according to Engineer Your Finances. Jenny Smedra, who lost her father this past spring, is learning to deal with The Problems of Probate.

 

This millionaire couple, neither of whom has had a six-figure salary, will have the benefit of a pair of pensions if they stick it out long enough. FIRE Crossroads 031: $1.1M With Two Pensions Pending. What would you do in their shoes?

 

Some investors expect retirement cashflow from rental properties. Mr. Money Mustache compares and contrasts two of the most common investments. Which is Safer: Rental Houses or Stock Investments? (a Case Study).

 

The only rental properties I’ve had are homes I moved away from. How often does that make good financial sense? The Prudent Plastic Surgeon gives his analysis. Should You Turn Your Home Into A Rental Property?

 

Does it make any sense to invest in real estate when times are tough? 5 Tips for Real Estate Investing Success During a Recession (or Downturn) from SemiRetired MD.

 

Do you have a tough time differentiating one real estate investing platform from another? Site sponsor EquityMultiple explains what sets them apart. How We’re Different.

 

You may be familiar with different asset classes when investing, but what about different goals? Theresa Bedford with Savoteur writes for those who want more than just monetary returns. Impact Investing: 5 of the Best Ways to Start.

 

A key to our ability to start enjoying early retirement was learning how to educate our children without the benefit of a traditional classroom. My wife took the reins in that department, and she penned this post to show you what we’ve done and how we did it. 3 Years of Homeschooling & Worldschooling: What We’ve Learned & What’s Next!

 

J. Money, who is back at the helm of Budgets Are Sexy, has seen the pros and cons of early “retirement” firsthand. 16 Good (and Bad!) Changes Since My “Retirement”

 

Are you on track to retire early? If your friends think you’re cheap, you just might be, says Financial Samurai. Being Called Overly Frugal Or Cheap Means You’re On The Right Track.

 

With inflation what it is, frugality is starting to feel like an essential survival skill! 5 Ways the Current Financial Climate Is Cooling Consumers’ Spending & Saving from Personal Capital.

 

The White Coat Investor pulls no punches when expressing his disdain for this particular student loan. Why WCI Hates Parent PLUS Loans.

 

WCI Course sale!

 

He says we’re celebrating the new interns, residents, and fellows, and all who have moved one level up the medical training hierarchy this past week. His staff says they’re celebrating Dr. Dahle’s birthday. Either way, it’s good news for you.

This is the biggest discount you’ll ever see on a WCI course, and from now through July 11th, you can get 20% off of any WCI course, including those with CME. If you’ve got some CME funds to use up, an online course that provides you with a written financial plan may be a great use of that money.

 

You can earn CME with the following courses:

 

To get the 20% discount, enter CODE BIRTHDAY2022 at checkout.

 

Get Your 20% Discount from WCI

 

A Useful 529 Plan Resource

 

What are your options for a 529 Plan in your state? What tax benefits will you receive? Do you have to invest in your own state’s plan to get the tax incentive?

Click on your home state to find out quickly.

 

 

For a whole lot more on 529 Plans, see my extensive guide: 529 Plans: What You Need to Know About College Savings Plans.

 

 

Doc G Reveals His Identity

 

I’ve known him for years, but the voice behind What’s Up Next -> Earn & Invest and the DiverseFI blog has officially come out of the shadows to promote his upcoming book, Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life.

Yes, Dr. Jordan Grumet, a great friend to both this blog and my family, is excited for next month’s release, and so are we. I had a chance to read an advanced copy of Taking Stock, and I felt he did an excellent job of relaying the life and money lessons he’s gleaned from years of caring for hospice patients.

Please take a minute and 39 seconds to see Dr. Grumet’s video preview.

 

 

Two more books from our community that you really ought to check out:

  • Determined: How Burned Out Doctors Can Thrive in a Broken Medical System by Dr. James Turner [coming soon!]

 

Happy 4th of July!

 

As we sing Happy Birthday to Uncle Sam and keep our kids up way too late to see the fireworks while they get their fill of parade candy, take a moment to appreciate the incredible risks and sacrifices made by so many previous generations to make and keep our great country free.

It may not be everything you want — it’s imperfect just like you and me — but I believe that it’s still a great place to be, and you’ve got the freedom to express your opinions on what you love and what you don’t. Many places don’t have that freedom.

Have fun this weekend, be safe, and if you are among the working (like I was for quite a few Fourths of July past), thank you for all that you do!

 

 



 

Have an outstanding week! Freedom!

-Physician on FIRE

 

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