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The Sunday Best (6/24/2018)

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:


You’ve already seen my portfolio. Dr. Linus of Dads Making Cents looks at mine and a few others with a different lens. 4 Physician Bloggers Reveal Their Investment Portfolios.


Do you anticipate changing your investment portfolio now that the pass-thru deduction (also known as Sec. 199A) is in effect? From Stephen Nelson of Evergreen Small Business, who understands the pass-thru deduction as well as anyone I know, Sec. 199A Changes Investment Portfolio Construction.


Josh could have built himself a huge portfolio as an airline pilot. But the Golden Goose Guide author chose a different career path to avoid the burnout and stress that seems to mimic many physicians’ experiences. Why I Left an Airline Pilot Career Worth $8.2 Million.



Are doctors rich? Is $10 Million Enough? Does money buy happiness? The Doc of All Tradez ponders the answers in The 10 Million Dollar Dream and the Myth of the Wealthy Physician.


Jason Fieber, Mr. Free at 33, answers one of the above questions while discussing the suicides of his mother and grandmother, and his father walking out on him as a young child. Money Doesn’t Buy Happiness: Some Thoughts on Recent Celebrity Suicides.


Money may not be the best currency for happiness. How about freedom? My pal Jim from Route to Retire is about to find out. Sh!t Just Got Real. Moving Early Retirement Up to 2018!


You know what doesn’t make most people happy? Working 75 hours or more per week. You’ve been there. So have I, and so has Brian from Debt Discipline. A tale of regret in Working Seventy-Five Hours a Week and Nothing to Show For It.


Instead of buying video games and other crap, Brian should have bought himself some stocks. Individual stocks aren’t always bad — I own one. Big ERN of Early Retirement Now fame shares the Good and Bad Reasons to Invest in Individual Stocks Rather Than Index Funds.


Dr. Cory S. Fawcett invested in stocks, real estate, and a timeshare. He’s made the most of his purchases, and he shares his tips for maximizing the value of a timeshare in these recent posts on the subject. I remain intrigued by the concept.


Here’s another couple of posts from a physician that might just make your life better. Dr. Scrilla evaluates the true cost of car commuting (it’s a lot more than just gas!) and offers his tips on bicycle commuting (takes no gas!).

  • Cost of the Commute
  • The Beginner’s Guide to Bicycle Commuting


Thank You!


A few weeks ago, I pledged to donate half of my proceeds from sales of The White Coat Investor’s inaugural conference videos to the Gofundme campaign for a friend of mine in Norway battling AML.

I am pleased to share with you that we donated $3,000 Norwegian kroner, or about $250 to the fund as the result of sales of the course that weekend. Currently, the campaign is nearly 2/3 of the way to the goal of $300,000 kroner and you guys and gals helped me make a significant contribution. I hope you find the videos to be valuable. I sure did.

Wedding Season is Upon Us


Last weekend, I stood up in a tux alongside some of my best friends from college. Twenty years after graduating from the university, I think the last of my close friends is now married. It was a busy and very fun weekend. A lovely ceremony, a lively reception that ended with the dancefloor chanting to the 12-piece band to play Purple Rain as an encore, and some very late nights in downtown Minneapolis.

This weekend, we’re in Michigan for a family wedding. I’m writing this prior to the festivities, but it promises to be another weekend filled with love, laughter, and hopefully just a little bit of rain. I brewed the beer to be served at the rehearsal dinner and will be functioning as the backup photographer throughout the weekend, as well.

We’ve got at least one more family wedding before 2018 comes to a close, and I’m looking forward to that one, too. It’s always good to catch up with family and friends that you haven’t seen in ages, and there’s usually some good food and drink to be had. Cheers to all the new brides and grooms in 2018!


A recommended Financial Advisor


A new feature to this site is a short list of recommended financial advisors. It’s short because I only wanted to include the best, lowest-cost, fee-only advisors who have been vetted by The White Coat Investor and me.

I am a big fan of DIY investing, but I realize that many physicians have neither the time or inclination to do so, and I don’t want my readers being taken advantage of by unscrupulous or ill-informed advisors. My recommended advisors do pay an advertising fee to be listed, but it is by invitation only.

The following is a description from the advisor and my comments will follow.


Integrity Wealth Solutions

Integrity Wealth Solutions Financial Advisor Application

Integrity Wealth Solutions approaches wealth management and financial planning differently.  We’ve created a unique, tiered flat fee, asset management compensation structure designed with our client’s interests and success in mind.  Our firm’s investment philosophy is centered on cost and tax efficient portfolio management, aimed to help the client retain more of their investment growth.

A cornerstone in Integrity Wealth Solutions’ financial planning process is the alignment of financial goals with insightful strategies that fit individual circumstances.  We develop a holistic, customized, integrated financial plan that can evolve as the client’s needs grow and help clients maintain focus through the inevitable ups and downs of the market.


Asset Management Fees:

Assets Managed   Annualized Fee    Quarterly Fee   
$0-$500,000 1% 0.25%
$500,001-$999,999 $5,000 $1,250
$1,000,000-$3,000,000 $7,500 $1,875
$3,000,001-$6,000,000 $10,000 $2,500
$6,000,001-$10,000,000 $15,000 $3,750
$10,000,001 – $15,000,000 $25,000 $6,250
$25,000,001- and above Negotiable Negotiable

Financial Planning Only Fee (without asset management):
The typical fee for planning service is $3,000; however, this fee can range from $1,000 to $5,000, depending upon the scope and complexity of the work to be performed.

Contact Info:
5211 S. Quebec St. Greenwood Village, CO 80111


PoF: I generally dislike AUM (assets under management) fees, as the cost of advisory services increases dollar for dollar as your portfolio grows. Many firms have a 1% to 2% fee, and that is just too much. On a $3 Million portfolio, that equates to $30,000 to $60,000 a year. On a $6 Million portfolio, the advisory service would cost $60,000 to $120,000 a year.

While Integrity does charge a 1% AUM fee for beginning investors, that charge will never be more than $5,000 a year. As the portfolio grows, the charge as a percentage grows smaller. In the $3 Million to $6 Million range, you’ll have a flat $10,000 a year fee, as compared to the $30,000 to $120,000 a year fee some other advisors will charge.

In the $500,000 to $3,000,000 range, which is where many mid-career professionals’ portfolios will be, the annualized fee is in the $5,000 to $7,500 per year range, which I believe is a fair price for financial planning and investment management.


Annual fee
Intro APR
Regular APR
Recommended credit
Bonus Intro Rewards
bonus_miles_full read more


Have a blissful week!

-Physician on FIRE

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16 thoughts on “The Sunday Best (6/24/2018)”

  1. Hi all all, I have just detected this pleasing website..
    I’m from Celestún and I just wanted to thank you your patience in trying
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  3. Thanks for the inclusion, PoF! This was definitely an exciting post to be able to write about. Not too often you get to realize your dreams coming true.

    Plus, I got to use a couple swear words in it, so you know, that’s pretty cool too! 😉

    — Jim

  4. Great article collection for a Sunday read, I’ve been surprised at how similar my early airline pilot story is to early physicians. They both deal with huge school debt, all consuming working hours, and sacrifice is expected in the industry far beyond most others. In aviation we just considered it “paying your dues” and most people didn’t know any better until their health or relationships begin to fail if they’ve pushed it too hard. I’m glad I made it out when I did. Keep up the good work encouraging refugees on the medical side as well!

  5. Thanks for including my failure, I mean article. 🙂 Much appreciated!

    I wish I would have done a better job of capitalizing on those long hours in my 20s!

  6. Thanks for including my Timeshare bit. It really is a shame that those who speak up only seem to gripe. Those of us who love it, don’t say much, we just go out and enjoy our vacations. I love my timeshare and so do all the people I meet when we arrive. There is always two sides to every story.

    Dr. Cory S. Fawcett
    Prescription for Financial Success

    • If you know how to best take advantage of your trading options (or point redemption options) or how to buy weeks on the secondary market through or elsewhere, the timeshare properties really can be a great way to vacation. I’ve got more research to do, but we may pull the trigger someday.

      Thanks again for your tips!


      • I totally agree with what Cory has written on timeshares in the two articles- it is like a step by step guide for anyone to enjoy a lot of free time. The best articles on the topic I have ever read. We have been doing exactly the same for almost 18 years now and we do exactly what is in the articles here. We did pay more – lack of knowledge in the beginning. We had paid cash, and maintenance fees have not risen in 18 years – dumb luck. Cory’s point about having time to take vacation is important – otherwise it’s of no use. It’s definitely not a financial investment. We have never stayed in the unit we own. We exchange through Interval international, and in addition to exchange, there are 13 more weeks available to buy at a pretty cheap rate. The units are big enough to invite friends and family. Just last week we used one of the timeshare units in Poconos in Pennsylvania.

  7. The article on the Section 199A Deduction was very informative. The links it had to further articles on S corps and the deduction were very useful in confirming our decision to stay as an S Corp. Thanks!

      • quick scenario, physician A has more in his savings than what the FDIC will insure. already maxes out retirement plans, has individual investments accounts, no debt. wants to look at an option for putting the surplus in his savings above the 250 K cutoff that the FDIC will insure. wants to avoid any additional investments (real estate etc) until his social situation is more consistent. i.e. he can pick one place to live.

        would you recommend putting that extra money with ally bank. they have a good yield on their savings account and also you could get that money insured with FDIC as well. it seems like a reasonable option until that doc can figure out the social part (i.e. where to settle down).

        • Yes, I’ve been happy with Ally and they’re not a small bank. It’s a spinoff of GMAC financing. The 1.65% interest rate for the savings account is a lot better than you’ll do at just about any brick and mortar institution.


  8. I always look forward to reading Your Sunday Best and today didn’t disappoint: wow—reading #3 of that pilot blog read like reading some of our thoughts/discussions these past 12 months! Thanks again.

  9. The timeshare piece was an eye opener. Especially since only bad experiences really have been talked about and because never heard about any good ones you get prejudiced against it.

    Really drives home the point of two sides to every story

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  11. PoF,

    Thanks for sharing my piece. Much appreciated! 🙂

    It seems that many of us are questioning the correlation between money and happiness. That’s heartening to see.

    Best regards!

    • The studies have shown that the link between money and happiness is weak once you have enough money to live a comfortable life. Seeing the lives of the rich and famous come to an abrupt end is tragic supporting evidence. Thank you for sharing your story and personal history with suicide in your family. That can’t be easy to discuss.



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