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The Sunday Best (10/28/2018)

The Sunday Best

The Sunday Best
The Sunday Best is a collection of articles I’ve curated for your reading pleasure.

Expect most of the writing to be from recent weeks and consistent with the themes presented on this website: investing & taxes, financial independence, early retirement, and physician issues.


Presenting, this week’s Sunday Best:


Our friends from ChooseFI had Dr. Jim Dahle on their award-winning podcast recently. 097 | The White Coat Investor | Origin Story


I love reading about other physicians’ journeys. The Physician Philosopher shared a part of his with Fred Leamnson of Money With a Purpose. A tale of triumph in how he managed to Get Through Med School Reading at the Bottom 5 Percent of Students.


The Physician Philosopher‘s struggles were not over after navigating med school with a learning disability. The Road To Burnout Helped Me Find My Purpose.


Debt-free and financially secure, a physician steers clear burnout with a major pivot. In a guest post for Dr. Cory S. Fawcett, an OB/Gyn shares Why I Gave Up Obstetrics at Age 43.


She made a statement when she dropped OB, the associated call, and the Chief position in her group. Dr. McFrugal encourages others to make a different kind of statement. Make A Statement! — An Investor Policy Statement. His IPS may be better than my IPS.


Have you read the original studies that established the 4% Rule (of thumb)? From William P. Bengen in October of 1994, Determining Withdrawal Rates Using Historical Data. Can you tell he’s an amateur astronomer?


Three professors at Trinity College followed up a few years later with a study of their own. Retirement Savings: Choosing a Withdrawal Rate That Is Sustainable. It’s the “Trinity Study” that you’ve probably read about but have never actually read. If you have, kudos!


You know who hasn’t read these studies? And who confuses 25x spending for 25x current income? I promised not to mention Suze Orman last week, and I didn’t. So I couldn’t share this gem from Twitter:


Suze Orman Tweet


She forgot the question mark, but asked a valid question, even if it was rhetorical in nature. We don’t know what our future lives will look like, what the stock market will look like, or if robots will replace our jobs and/or our pets, but that’s no reason not to live the life you want today. If you’re wanting change and can afford to make it, I suggest you do so and navigate the future one hour, one day, and one year at a time.


Vicki Robin, renowned author of Your Money or Your Life, had a few things to say about Ms. Orman’s feelings on financial independence and how much is enough. Suze Orman — A Wet Blanket on FIRE.

Passive Income MD is known for investing in what are often considered alternative investments, including angel investing. Having swum in the Shark Tank, he asks, Should Doctors Be Angel Investing?


My friends JL Collins and Doug Nordman of The Military Guide collaborated on this topic. “Nords” argues Angel Investing will make you a better investor, a better person, and quite possibly a benefactor. Angel Investing, or Angel Philanthropy?


What is an Angel Investor, exactly? Hacker Noon gives us The Hacker Guide to Angel Investing.


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The Chase Sapphire Preferred is my top pick for your first rewards card. Welcome bonus of 80,000 points worth at least $1,000 when used to book travel (after a $4,000 spend in 3 mo) and other great perks you can learn about here.

Back to Full-Time Work


After a full year of working part-time, I am back to working full-time. I can almost say one month down, two to go.

I worked more than full-time in October because I was too busy doing things other than work in September. Having requested most of the month off to hit up FinCon, a pre-FinCon cruise to Cuba, and a pre-cruise week at Disney World, I made up for it in October, working 21 “units” (shifts of up to 12 hours) instead of my usual 10.


Cuba Uniforms
a lunch break in havana, cuba


With colleagues going on military leave and medical leave next month, I’ll be working more than full-time in November with another 21 units, and plan to work a regular 1 FTE of 16 units in December. Locum Tenens help should be stepping in come January until we’re back up to full speed.

I’ll be the first to admit I struggle keeping up with full-time work, family time and our travels together, and this blog and all related online activities. In terms of work, family, and blog, I have time to do two of them well, but not all three.

If you’ve contacted me and I have yet to respond, or finally responded after six to eight weeks, it’s not that I don’t like you. It’s just that I like my family more. Please don’t take that personally.

If all goes according to plan, I’ll drop from three important jobs down to two next August. We’ll take things one year at a time after that.


A Recommended Financial Advisor


For those of you who would rather not DIY, I maintain a list of 10 recommended financial advisors. Among the good guys and gals who work frequently with physicians, only the lowest cost, fee-only fiduciary advisors were invited to be on this short list. Among them is Your Richest Life.

I’ve had the pleasure of meeting  Katie Brewer, founder of YRL, as she is a regular at FinCon. She is friendly and knowledgeable, as you can hear in one of Dr. Nii Darko’s first podcast episodes at Docs Outside the Box.


Your Richest Life

Your Richest Life Application

Katie Brewer, CFP®, founded her fee-only firm, Your Richest Life Planning , in 2014 in order to focus on physicians and professionals under 50 who are juggling high-intensity careers while balancing the demands of a family. In order to most effectively utilize a client’s time, Katie conducts most business virtually. This framework allows the firm to work with clients all over the country while also minimizing financial planning costs. Katie has over 12 years of experience in the industry and has been quoted in various sources such as The New York Times, Forbes, and Business Insider. Services include comprehensive financial planning and ongoing financial coaching and monitoring.


Upfront fees range from $1,200-3,000.
After the upfront fee, you pay a monthly fee of $125-300/month.

Contact Info:
1008 Ridge Rd.
Rockwall, TX 75087




Have an outstanding week!

-Physician on FIRE

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16 thoughts on “The Sunday Best (10/28/2018)”

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  5. Thanks for featuring our episode on your Sunday Best! She definitely does great work! Sounds like we need to do another episode!!

    • Happy to chat anytime, Nii. I’ll probably have more to say once actually retired from medicine. Hit me up next fall, for sure.


  6. Thank you so much for including me in your Sunday Best and thank you for including a link to Dr. Darko’s podcast, Docs Outside the Box! Dr. Darko and I had a lot of fun making that episode.

    POF, it is always a pleasure seeing you at FinCon and this year was no exception. It’s exactly like summer camp for financial writers, bloggers, and media (and the financial planners that sneak in too). It gives me the inspiration to keep up the writing and social media for the next year even when it gets tiresome.

    I completely understand the need to occasionally re-prioritize. Sometimes it’s a blessing and a curse to be a high-achiever. My family helps to keep me grounded and my 8-year-old mini-me tells me when she thinks I need to pull back on work. If only we could work out while sleeping and have productive work sessions while spending quality time with family and friends at the same time. 🙂

  7. I was reading a story of Sandra Day O’Connor. She quit the Court to take care of her AD diagnosed now dead husband. Her chances of AD at age 65 was 1/10. Today she is 85. Her chance of AD is now 1/3. At 85 she pulled the brass ring. Typically someone with AD lives another 8-10 years. Her chance of surviving to 90 is 30% and to 100 is 1.4% She therefore has a 1/3 chance of living at least 5 years with this disease. You better friggin hope she did the portfolio projection right, as she’s about to lose the ability to change her ever more costly future, after exercising the already likely considerable expense of caring for her husband.

    I read another recently published study. The chance of getting cancer is 1/3 for all sites across the population. The chance of being 100% wiped financially after a cancer diagnosis in only 4 years is 22% That means RE at 45, get a CA diagnosis at 50, survive but have a 22% chance of being totally broke at 59, still 6 years to Medicare.

    Both of these are population wide statistical futures, not just one off anecdotes like getting your house exploded by hurricane Mike. If you get AD or PD wherever you go it comes along. If you get cancer and survive, the bills are relentless.

    My guess is Suze O get’s letters about these kind of consequences by the tens of thousands since she says she does. I also guess her brand of wisdom is colored and tempered by the data she receives. What colors our brand of wisdom? Do we even have wisdom?

  8. Thanks for including my interview with The Physician Philosopher. His story is so inspiring. Your Sunday’s best offers some great reads every week.

    Great job!


  9. Love your weekly round-ups! Hopefully, with the fulltime gig you can still keep the content coming. If not, focus on your family and work and I’ll be looking forward to the content stream picking up again soon!

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  11. Thanks for including me in your Sunday best. It’s always an honor when you do.

    Dr. Cory S. Fawcett
    Prescription for Financial Success

  12. Thanks for posting the article from Dr Cory Fawcett’s blog. I enjoyed reading about someone who quit OB younger than I did.
    I have the worst Angel Investing story ever published. I know it is anecdotal but it explains why I do not currently do this type of investing.

    • Hello! This is Venture Corner writing – the group that is pleased to provide the Intro to Angel Investing online course. Thanks to PoF for highlighting our offering in their 10/28 Sunday Best!! We look forward to guest posting on the PoF site soon to give some insight into how angel investing — when done WELL — can and has historically beaten the market indices. Not an anecdote. In the guest blog, we will support the case with sound stats. Like any other investment play, one has to approach this with as much skill & experience, so that angel investing can be a successful part of a well-diversified portfolio; the part that can rocket your ROIs by 5x, 10x and even more.

  13. Wow, POF. I feel like I got double Sunday Bested this week! I was happy to share my story with Fred in his interview series, and glad he asked. It’s important for others to know that you don’t have to be perfect to be successful.

    And I feel like FinCon really helped me start to better define exactly why I started The Physician Philosopher. I had always known, but never really put it down in words.

    I really appreciate you sharing both of those posts!

    P.s. keep your head up. Anyone who knows you knows how selfless you are. Glad you are putting your family first in this busy time!



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