The Sunday Best (10/6/2019)

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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!

 

 

Sunday Best

 

The Sunday Best

 

What’s the first thing you need to do when seeking financial independence? From Business Insider, The first step to early retirement is the same for everyone, says a man who left work at 43. Who could that be?

 

It’s the same guy that donates to the classroom rather than have his kids nag his friends, family, and neighbors to buy overpriced pizza, popocorn, and cookie dough. That nonsense is like MLM Jr. The Frugal Engineers and I are on the same page. How to Start Saying No to School Fundraisers.

 

The Drs. Darko are going to have to navigate quite a few of those school fundraisers in the coming years, as Nii and Renee welcome a baby boy, their second. New addition: Financing a family of 4! Keeping up with the Darkos just became a bit more challenging!

 

You can pick your friends, and you can pick your nose, but don’t pick individual stocks and sectors, says The White Coat Investor. Actually, don’t pick your nose, either. It’s gross. Why Talking About Individual Stocks (and Sectors) Makes You Look Dumb.

 

Jacob Lund Fisker of Early Retirement Extreme fame was an O.G. FIRE blogger. He famously lived on less than $10,000 a year in the San Francisco bay area. What has the theoretical physicist done since he stopped blogging in 2011? Well, he moved to Chicago, took a job as a quant, and continues to live fascinatingly frugally. He shared an extensive update with his friend J.D. Roth at Get Rich Slowly. Early Retirement Extreme: The ten-year update.

 

 

JLF of ERE did not succumb to lifestyle inflation. In some ways, Nick Loper of Side Hustle Nation has. He explores the idea in a guest post on Budgets are Sexy. Lifestyle Creep… Isn’t That Kind of the Point?

 

How do you choose how to spend or how to invest? Framing can play a huge role. The Physician Philosopher teamed up with Ryan Inman of Financial Residency for the first of what will be a weekly podcast. How Framing Can Affect Your Financial Future. Subscribe to the podcast here!

 

Let’s keep the multimedia rolling, this time with video! Smart Money Simple Life shares 7 TED Talks on Money That’ll Help You Get Ahead Financially. I’ve watched several of them, and they are compelling.

 

Getting a late start on your financial independence journey? You’re not alone and it’s not too late. Think You’re Too Old to Reach Financial Independence? Think Again, says FI after 50.

 

I don’t believe there ever has been, and there will quite likely never be another FinCon roundup as robust as this one from Dollar Revolution. The Ultimate FinCon 2019 Recap Roundup.

Are you getting the most out of the business credit card in your wallet? Check out the top business credit card offers today.The Best Business Credit Cards

 

We’re doing our best to raise fiscally responsible children. It’s an ongoing effort. Learn some of our methods in Teach Your Kids About Money with the Bank of Mom and Dad.

 

Dr. Dawn Baker of Practice Balance and the Stealth Wealth Family worked two days a week before taking a 9-month sabbatical. She’s more than qualified to show you How To Ask For What You Want At Work… And Get It

 

Passive Income MD shares how a variety of doctors wanted passive income and figured out how to get it. How Are These Physicians Creatively Generating Passive Income?

 

Money for Women Physicians

 

I’m proud to announce that Bonnie Koo, MD will be leading a unique wealth-building program to help women physicians take control of their finances. Enrollment begins today and will remain open for only one week, after which class will begin!

The course qualifies for 5 credits CME (Yes, you can use your CME Fund for this!) and the modules and implementation will wrap up by early December. Give yourself the gift of empowerment by enrolling in Money for Women Physicians. Yes, you must be a woman and an M.D. or D.O. physician to join.

 

Money for Women Physicians

Explore Money for Women Physicians

★BONUS: Enroll via my referral link, and I’ll buy you any book from my Recommended list

 

Delta Welcome Bonuses Are Up Again

 

Every once in a while, Delta approximately doubles their welcome bonuses on their co-branded credit cards with American Express.

If you’re a frequent Delta flyer, now is the time to grab a card for the awesome miles welcome bonus and the perks that include free checked bags for you and your party.

If you’re not a frequent Delta flyer, a travel rewards card with flexible points or travel reimbursement may be more your style.

I highlight these cards for two reasons. One, I’ve earned tons of nearly-free travel for my family and me with them. Two, this site earns referral fees and if you use the links below to obtain a card, you’ll be supporting our charitable mission. Thank you!

 

Gold Delta SkyMiles Credit Card from American Express60,000 Miles

  • 60,000 Delta Skymiles after $2,000 spend in first 3 months
  • $50 statement credit towards a Delta purchase in first 3 months
  • First bag checked free on Delta
  • Main Cabin 1 Priority Boarding
  • No foreign transaction fees
  • $95 annual fee, waived in year one

Compare this card to others

 


 

Platinum Delta SkyMiles Credit Card from American Express75,000 Miles

  • 75,000 Delta Skymiles + 5,000 MQM after $3,000 spend in first 3 months
  • $100 statement credit towards a Delta purchase in first 3 months
  • First bag checked free on Delta
  • Main Cabin 1 Priority Boarding
  • No foreign transaction fees
  • $195 annual fee

Compare this card to others

 


 

Delta Reserve Credit Card from American Express80,000 Miles

  • 75,000 Delta Skymiles & 10,000 MQMs after $5,000 spend in first 3 months
  • Delta Sky Club free for you & $29 for up to 2 guests
  • Annual Companion Certificate upon card renewal
  • Concierge Service
  • $100 statement credit towards a Delta purchase in first 3 months
  • First bag checked free on Delta
  • Main Cabin 1 Priority Boarding
  • No foreign transaction fees
  • $450 annual fee

Compare this card to others

 

How much interest are you earning in your checking and savings accounts? Explore accounts offering 20x what many banks are offering. High Interest Savings Accounts

A Featured Financial Advisor

 

For those of you who would rather not DIY, I maintain a list of 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 FPL.

 

FPL Capital Management

FPL Capital Management Vetting Application

FPL Capital Management is a Fee-Only RIA that offers a unique fee structure, which is based on charging clients a flat annual fee for services provided. Fees range from $1,000 to $5,000 per year for Portfolio Management. They utilize low-cost funds from Vanguard, Dimensional, iShares, WisdomTree, and AQR. They have custodial relationships with Schwab, Fidelity, and TD Ameritrade. They offer an Institutional Platform that provides clients access to private debt and private equity funds. FPL also offers Wealth Management and ERISA Fiduciary services. Their focus is medical practices with fewer than 100 employees. They offer this service utilizing DC Platforms of Vanguard and DFA.

Fees:

Annual Advisory Fees range between $1,000 and $5,000, depending on the level of service selected.

Contact Info:
3525 North Causeway Blvd.
Suite 633
Metairie, LA 70002
800-835-1969
[email protected]

Visit FPL

 

 


Track your investments for free with Personal Capital. That's how I track the PoF portfolio

 

Have an outstanding week!

-Physician on FIRE

Physician on FIRE has partnered with CardRatings for our coverage of credit card products. Physician on FIRE and CardRatings may receive a commission from card issuers.

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