The Sunday Best (5/20/2018)
The Sunday Best is a collection of articles I’ve curated for your reading pleasure.
Presenting, this week’s Sunday Best:
Financial Independence will make your job better, they said. You’ll be working because you want to, we were told. Retire by 40 isn’t buying it (and neither am I). The Downside of Financial Independence.
The last post notwithstanding, FI is almost all upside. For example, FI allows you to self-insure for many of life’s potential setbacks, saving thousands per year. Full Time Finance details the many places where it may or may not be a good idea. When Can You Self Insure?
Crispy Doc hosts a guest post from Gasem highlighting a different kind of independence. When combined with financial independence, families can also gain location independence with Home Schooling: Educational Independence. Based on the results, it worked very well for him and his family.
Location Independence will give us the ability to spend more time in places like Honduras, where we recently took part in a medical mission as a family. It was an eye-opening experience for my boys. Women Who Money ponders family and the less fortunate in How Can I Help My Children Understand Poverty?
I decided I wasn’t interested in going from full-time work to slamming on the brakes, hence my part-time schedule. Jillian of Montana Money Adventures touts the benefits of a smooth transition aligning your values, passion, and purpose in Flexible FIRE.
Switching gears, residency represents some of the toughest years in a physician’s career. The pay amounts to little more than minimum wage on an hourly basis, but at least we get paid. Dental residents usually pay tuition! My lawyer friend Financial Panther adds it all up in Opportunity Cost and My Wife’s $500,000 Dental Residency Program.
As the wealthy sometimes say, you’ve got to spend money to make money. What else do the wealthy say and do? From Passive Income MD, 7 Behaviors of the Wealthy (and How I Try to Copy Them).
One thing I’ve observed the wealthy do is to give generously. The Rich Fool feels that Charitable Giving Deserves a Place in Every Budget. I agree.
Updated Credit Card Tracker
I updated the spreadsheet as the limited time offers continue to improve. Click here to learn more about the current offerings or download the spreadsheet via the form below. If you’re already a subscriber, you won’t be resubscribed.
If you enjoy Marriott or Hilton Hotels, you can easily score a few free nights in either or both of those chains.
And if you’ve got a small business, the 70,000 you see in red represents Aadvantage miles. You may recall that I flew my family of four to Honduras and back with 90,000 miles. Two of these cards (one new card for each spouse, NOT companion cards) would earn you 140,000 points. That would get a family of four to South America and back.
For more on my travel rewards strategies, visit my recent post on cards for people who love nearly free travel and money.
They Come in Threes
Celebrity deaths seem to come in threes. I don’t know why. They just do.
Three isn’t a bad number. I’m a fan of the three fund portfolio. A shot from beyond the arc is worth three, as is a field goal from anywhere on the field. A threepeat is an amazing feat, and I try to get three servings of fruits and vegetables in per day. My wife is a big fan of menage et trois — the wine. The wine!!!
You know what else comes in threes? Appendectomies. I don’t know why. They just do.
Yesterday afternoon, I made this observation in our Physicians on FIRE Facebook group:
Let’s ignore the fact that I’m disagreeing with the premise that I, myself, made in this thread and jump to what happened next.
The pager goes off late afternoon. Guess what? Another appendectomy.
I guess I deserve it.
I also deserve some downtime — for the last 16 days, I’ve been in either an O.R., and airport, or both. I’m looking forward to sleeping in or hitting the sack early next week. Or a nap.
Maybe I’ll go for all three.
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Have a restorative week!
-Physician on FIRE
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