The Sunday Best (09/03/2023)

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!

Jorge Sanchez, MD, curated this week’s articles.

Maxing out your 401(k) is standard financial advice touted by many advisors, but it may not always be the best option: Should I Max Out My 401(k)? What You Need to Know.

Morning Star answers the question: Pension vs. 401(k): Which Retirement Option Wins in an Inflationary Environment?

Learn how to better manage your student loan debt, and explore refinancing to a lower rate with cash back offers up to $1,000! Student Loan Resource Page

ChatGPT is changing the way people live and work. Should it change the way we handle our finances? Coryanne Hicks from Fortune attempts to use ChatGPT to help her plan for retirement, and the winner is clear: I pitted ChatGPT against a real financial advisor to help me save for retirement.

When we retire, we regain many things, including freedom and control of our daily lives. But what do we lose? The Humble Dollar lists seven things: What We Lose.

 Washington Post discusses a fear that plagues many retirees: My husband just retired. I’m scared to death of running out of money.

Tyler Olson joins Peter Lazaroff in this podcast episode about How to Strategically Pay Down Your Student Debt, where they discuss how to choose the right repayment plan, when to refinance vs. consolidate loans, and the different approaches to debt payment.

Should you have cash in your portfolio? Morning Star looks at the pros and cons of the safest asset class, plus our favorite options: How to Use Cash in a Portfolio.

Savant Wealth ponders the question: Illiquidity – A Feature or a Bug?

“Logic is an invention of man and may be ignored by the universe.” The Morgan Housel Podcast discusses the difference between Intelligence and Smarts and why one is valued more than the other despite being less useful.

As humans, it’s in our DNA to crave certainty. This is why “it depends” is an unsatisfying response when we ask for advice. Best Interest talks about why “it depends” is “The Most Frustrating Phrase in Personal Finance” and how good financial planning is the cure.

Your pen might feel small and inconsequential and even a bit corny sometimes, but Contessa argues it’s more powerful than you think when it comes to getting things done.  And yes, even in achieving your financial goals: The mighty power of the pen

Debt-Free Doctor looks back to his youth and chronicles how, through years of trials and tribulations, he finally realized that Mindset Is Everything: The Key To Investing. 

According to a recent survey from the Pew Research Center, nearly half of all U.S. workers fail to use all their allotted vacation days. Harvard Business Review discusses Why We Glorify Overwork and Refuse to Rest.

Jillian Johnsrud joins Choose Fi to discuss how taking a break to recover, relax, and re-strategize can propel you towards your FI goals! Mini-Retirements to Accelerate Your Path to FI

Macroeconomics is the study of the economy and the factors that influence it. Investing for Doctors discusses What is Macroeconomics? And why incorporating them in your fundamental analysis will help you make informed investment decisions.

Savings lies at the heart of the Financial Independence and Retiring Early (FIRE). Indeed, doing the “saving” is the most crucial part if you want to reach financial independence. However, where you park the money is also vital: Money Market Fund vs Savings Accounts: Which One Should You Choose?

The Importance of a Taxable Account for Early Retirees

If You Want to Get Rich, You Better Do It Slowly

JEPI as a Bond Substitute? Don Quixote Confronts the Windmills