The Sunday Best (11/7/2021)

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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Dr. Trisha Talbot invited me on to the Providers, Properties & Performance Podcast where we talked about investing, retirement, and the future of medicine. Episode 75 – Passive Real Estate Investing Leads Anesthesiologist to FIRE with Leif Dahleen, MD.

 

How do you get what you want? As my father often reminded me, If You Don’t Ask, You Don’t Get, So Keep Asking. David from Filled With Money tells us what to ask for.

 

Olaf, the Mile High Finace Guy, is not yet FI, but he’s got what he wants — a growing nest egg and two part-time jobs that he enjoys. FIRE Crossroads 006: Mile High, Mostly FI, Working in Finance and Wine.

 

Dr. B.C. Krygowski has discovered what she wants, and it’s not what she expected. Why a FIRE Doctor Wants to Continue Working After We Re-enter our New Normal.

 

Speaking of a new normal, I am so excited to be one step closer to it as we were able to get our 11-year old his first COVID vaccination yesterday! We have some serious travel plans, and I believe we’ll be home for about 5 weeks out of the next 5+ months!

 

Another physician blogger is stepping up his game at work. Crispy Doc explains why. Engagement, Energy, Flow: Why I Chose To Go From 6 Workdays A Month To 24.

 

The Physician Philosopher has overcome burnout, and he shares his tips for staying in the game. TPP Episode 32: Do You Feel Trapped, Stuck, or Burned Out in Medicine? Then Let’s Fix It.

 

Not everyone is willing or able to stick it out, though, and the Darwinian Doctor discusses A New Resource for Residents who are Thinking of Quitting, created by one who did.

 

Many have found the solution to burnout is to work less, and that’s much easier to do when you can be done saving, earning enough to simply cover your spending. Joseph Kim with Biglaw Investor asks What’s your coastFIRE number?

 

This guy’s coasting into the Carolina hills to retire in his mid-fifties after hitting his FI number. Post FI Notes 006: Gone to Carolina With the Rule of 55.

 

I’ve published posts on some of the best and some of the worst money habits of NFL players. Let’s hear it straight from one of the NFL’s own, former kicker Dan Silvestri with Radical FIRE. The NFL And IOU: 10 Debt Lessons You Can Learn From Football Players.

 

While many professional athletes need to learn how to save money, there are professionals in every field that can benefit from learning the opposite lesson. One Frugal Girl explains the importance of learning How to Spend Money on Yourself Without Feeling Guilty and in which ways that money is best spent.

 

The Prudent Plastic Surgeon, Dr. Jordan Frey, is adept at saving money. This is mightily impressive. FIRE Starter 006: $800k Increase in 14 Months.

 

It took more than 14 months, but Carl from 1500 Days, with a little help from his pal Elon, turned less than ten grand into a cool million. Is he cashing in or HODLing? Tesla, My First $1,000,000 Investment. My first 7-figure ticker was VTSAX; I’m boring like that.

 

Whatever Carl decides to do with his money, I’d advise him to stay away from this “sounds too good to be true and it is” product. 5 Reasons Not to Buy Indexed Universal Life Insurance from The White Coat Investor.

 

Learn how to better manage your student loan debt, and explore refinancing to a lower rate with cash back offers up to $750! Student Loan Resource Page

 

Yes, We are Immunized

 

And by immunized, I mean that everyone in my household has received an FDA-approved mRNA vaccine shot (or 2 or 3) in the deltoid muscle, administered by a legitimate healthcare professional.

I’ve been quite vocal and factual when it comes to COVID vaccines on my personal Facebook profile, and when the news broke about the talented but misguided quarterback from Green Bay, I couldn’t help but post a link to this opinion piece with a one-word intro: “Dumbass.”

A couple of people commented, asking if I was referring to his decision not to get a vaccine or his deception when asked about it. My initial response was equally curt. “Yes.” This was before Rodgers claimed to be allergic to the mRNA vaccines in an interview that put his weak insight into the pandemic and science, in general, on full display.

One Facebook friend of mine mentioned that we’re all entitled to an opinion and that a personal decision like this shouldn’t be anyone else’s business. I felt like that comment deserved a lengthier reply, which I gladly gave:

“It may be a personal decision, but it’s a decision that affects not only the individual, but also their friends, family, and society. Indirectly, that decision also impacts businesses small and large and our economy as a whole, as the longer this pandemic is with us, the more difficult it will be to return to business as usual — although some things will never be quite the way they were before.

In his case, it’s a decision that impacted himself, his family, his team, and millions of Packers fans.We’re all entitled to an opinion. At the risk of sounding like a jackass, I will say that mine is based what I learned as a dual major in biochemistry and genetics & cell biology followed by four years of med school. I’ve also followed the development of these vaccines and have listened to people much smarter and experienced in these fields than me.

There’s a reason I volunteered 100+ hours at COVID vaccine clinics, and it’s not because I like driving all over northern Michigan in the winter or poking people with needles. I did it because the vaccine is life-changing and life-saving for so many people.

I suspect we’ll agree to disagree, and that’s OK, but I do believe that Rodgers was foolish for both turning down the vaccine and being deceptive about it.”

 I may lose a few friends (and possibly a few readers here) with such an approach, but the loud voices of skepticism and misinformation need to be countered.

 

Benefitting from the Real Estate Runup

 

Fourteen months ago, I finally made an investment that I had contemplated for quite some time. I knew that the White Coat Investor had invested with them previously and that their latest fund was an improvement upon its predecessors.

When I saw that the price per share had actually dropped about 7% amid the uncertainty early in the pandemic and was not marked up promptly (unlike the rapid V-shaped recovery in the stock market), I made my commitment.

My $250,000 investment, after fees, is now worth $282,237, and I’ve received $17,274 in distributions (exactly $1328.80 monthly) for a total return of nearly $50,000 in 14 months.

Using Excel’s XIRR function and counting from the day I sent the money in, I calculate an IRR of 17.2%, well above the expected 9% to 11%. There are early redemption costs for those who stay in the fund for fewer than five years, but I plan to be in it for the long haul, and I may add to my investment in the future.At the time I decided to invest, Origin did not advertise with us at Physician on FIRE, but they are now a paid sponsor.

Here are some more stats on Origin’s IncomePlus Fund.

  • Thirty consecutive months of distributions since inception.
  • Rent collections for our operating properties averaged 97% during September, above the National Average of 92.9%.
  • The average LTV (loan to value) and debt-service coverage ratios for the Fund’s common equity investments are 56% and 1.49x, respectively.
  • Occupancy in September averaged 96%, 750 basis points above the occupancy in September 2020. Recent competitive trades suggest aggressive increases in property valuations driven by compressing yields and improving operating fundamentals. Within our common equity portfolio, we are achieving rents that are 9% above the average rent under lease. As we roll leases to the higher rent level, we expect the property values to continue appreciating.
  • As of 9/30/2021 the Fund held 12 properties (30% common equity, 47% preferred equity and 23% in cash and marketable securities) with Fund cash being reserved for upcoming deal closings.

 



 

Have an outstanding week!

-Physician on FIRE

 

14 thoughts on “The Sunday Best (11/7/2021)”

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  2. I’m a vaccinated Packers fan but I will respect Aaron’s right to make his own medical decisions. Just as I have no right to demand he plays when injured, I have no right to feel upset that he has COVID, or the flu, or if he stays up late and plays poorly against the dastardly Vikings.

    At this point everyone in the nation (who is at a measurable level of risk) has been able to make a choice about getting vaccinated, and will face the consequences.

    I don’t think the name calling and appeals to authority improve the quality of your argument though.

    Reply
    • He has the right to do whatever he wants. He doesn’t have the right to endanger any of his coworkers or people he comes across in the duties of his job. He also doesn’t have the right to his job, which comes with a number of restrictions involving bodily autonomy. I’d love to hear your answer as to what should happen if he refused any of the drug tests he has to go through? And if he thought he was making such a brave stand, he’d have stood up for it instead of obfuscating with his “I’m immunized” BS.
      He clearly thinks he’s smarter than everyone else, and has zero understanding that all he is is lucky that the God-given talents he has are more highly compensated than those of other people.
      Tired of these morons getting in the way of the rest of our lives.

      Reply
  3. Appreciate your accurate call out of Rodgers’ idiocy and irresponsibility to his team, to fans, and to all people he comes in contact with. I’d actually started to become a serious fan of his after watching his Jeopardy guest-hosting gig, but now knowing what an intellectual fraud (and selfish liar) he actually is…no more. No one has a “right” to endanger others around them when it is easily avoidable (secondhand smoke, DUI, yelling “fire” in crowded movie theaters are other relevant examples).

    Washington Post fact check on Rodgers’ dissembling: https://www.washingtonpost.com/sports/2021/11/05/aaron-rodgers-fact-check/

    Thanks for providing a measure of light and truth for your readers.

    Reply
  4. Drives me nuts that getting vaccinated is spun as “an individual choice.” It is NOT. Avoiding the jab is a public health threat. You’re not just hurting yourself – you’re hurting Grandma! The FDA discussion re: kids’ vaccinations also drove me nuts although I gather they were instructed to only consider costs/benefits to kids themselves rather than society. But the benefit to society is huge for the kids as well and to my mind tips the scale…. Thank you for your clearly articulated statement.

    Reply
  5. In my opinion, “personal choice” for vaccinations would be to decline a tetanus vax. They can die without harming anyone else. Any harmful communicable disease that we have a vax for that people choose to decline poses a public health issue. It infuriates me that some people totally ignore the threat they pose to others.

    That football player was obviously being deceptive when he answered “I’m immunized” to the question whether he was vaccinated. If he was so convinced he was making a wise choice he would have owned up to it.

    Reply
  6. I am saddened that people think the COVID shot is inherently good. People act like it is a vaccine…It is not. It has helped elderly and frail people survive the terrible disease, but is proving to be incredibly ineffective. The elderly and frail should definitely consider taking this shot, but many others should pause and consider the cost and benefit.

    Has anyone who posted here looked at all the breakthrough cases? Minnesota has had an incredible amount of breakthrough deaths.
    It is a very unproven shot and clearly has some side effects…Some young men have died because of it (people, it has been out for 1.5 years! Look at how Tylenol – released in 1955, is now being “clearly” found to have serious side effects to pregnant women. It takes time to understand these things.) Be smart and don’t judge when YOU don’t know almost anything about long term efficacy or safety! Thank you.

    Reply
    • It is a vaccine, Joseph. An mRNA vaccine. Breakthrough infections are expected, and thankfully, the likelihood of severe disease or death in breakthrough cases is vastly lower than infections in the unvaccinated.

      I follow the science. Not the politics. And I’m grateful for the decades of research that led to the ability to quickly develop a working vaccine for this deadly disease.

      Best,
      -PoF, MD

      Reply
  7. Why is it that an individual not getting the vaccine is hurting ‘Grandma’? If I’m not mistaken, people who have gotten the vaccine are still getting covid after the shot or 2 or 3. It may be milder now that they are immunized but nevertheless, they can still get covid. So if this is true, why would someone who decides they do not want the vaccine be hurting or endangering anyone besides themselves? Please explain this to me. Also, if anyone thinks that covid will disappear, they must know something I don’t. It’s something that is here to stay as new variants will always emerge just like the flu.

    Reply
    • Studies continue to show that vaccinated individuals are much less likely to contract the disease and less likely to transmit it to another person. Just imagine the crush we would have seen from the Delta variant if we didn’t have the majority of our population already vaccinated. It would have been brutal.

      There is also increasing evidence that vaccine-induced immunity is stronger and longer than natural immunity from having contracted COVID.

      From an epidemiologic perspective, the more people who become vaccinated, the sooner the disease will be endemic. Experts are not predicting it will magically disappear.

      Best,
      -PoF

      Reply
  8. As always, great article.

    Thanks for being pro-vaccination.

    There was a very pertinent variation of Patrick Henry’s famous quote: “Give me liberty or give me death.” The writer said something to the effect of “Your liberty should not equate to my death.”

    Depressing to see that some of your readers continue to be misled when it comes to COVID vaccinations.

    All the best,

    John

    PS: My conflict of interest is that I am a Chicago Bears fan.

    Reply

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