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The Sunday Best (7/29/2018)

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:


ESI Money‘s latest post forced me to calculate my opportunity cost of retiring at 43. It’s an 8-figure number! His is a bit lower, but still… How I Lost Millions by Retiring Early. I’d better up my game with this side hustle!


Erin Lowry, the Broke Millennial, isn’t keen on 7 and 8 figure opportunity costs, favoring the FI over the RE (much like E.T.F. did before embracing the RE concept). She prefers to keep hustling as explained in That Time I Almost Joined the FIRE Movement.


The other day we featured Bryan Miles’ medical school side hustles. Passive Income MD was a hustler, too, which should come as no surprise to anyone. What were his four side gigs? My Med School Side Hustles.


Those guys figured out how to make money in med school. Others can’t figure out how to set aside much of anything as attending phsyicians. The White Coat Investor dishes out some tough love in $320k and Unable to Save for Retirement. Really? Reaally?!?


This next post from Four Pillar Freedom shows us just how important it is to find a way to start saving as soon as possible. Saving Your First $300k Takes Roughly the Same Amount of Time as Saving the Next $700k. Similarly, saving the first $1 Million takes about as long as the next $2.33 Million. Get saving, my friends!


Some doctors haven’t had to save diligently to become millionaires. Increasingly, private equity firms have been purchasing physician practices with buyout offers that make the partners instant millionaires, even multimillionaires in some cases. From Nisha Mehta MD, Private Equity: A Primer for Physicians.


I've got my 2 acres of non-leveraged, crop-producing, cashflowing farmland via AcreTrader. Get yours.


Find me on Twitter — I shout sometimes. I’m also on Instagram now! IT’S TRUE!

Yield Curve Tweet


Ideally, you’ll learn to save before the next great stock buying opportunity. Could one be imminent? The Wall Street Physician ponders the question. Inverted Yield Curve: Predictor of Recession and Bear Market?


For the number crunchers who liked that one, let’s shift our focus to an important number in real estate investing. Coach Carson gives cap rates a thorough treatment in Cap Rate Explained (And Why It Matters With Rental Properties).


Joe Udo (did you catch his CGP?) from Retire by 40 explores real estate investing, too. It’s a question many of us have asked: Should I be a Landlord or a Passive Real Estate Investor?


The man behind Retire Before Dad is probably not interested in landlording. He’s more interested in Life Without The Constraints Of Time And Money. Who wouldn’t be?


I’m in the middle of about a four-week break from work and it truly feels like a life without those constraints. We’ve spent the last week at our little lake cabin in northern Michigan. At about 700 square feet, it’s basically the size of two tiny homes, but it’s all we really need and very easy to keep clean.

We’ve got acres of wide open space outdoors, a couple hundred feet of shared beach frontage, 27 square miles of lake water (and rivers connecting us to much, much more), and a boat to explore it all.

With two more weeks to go up here, we don’t feel pressed for time. As far as money goes, I imagine we’ll always exercise some constraint — that’s what got us to where we are today, but we can be confident that we can keep living this way, or even upgrade our lifestyle a good amount without fear of running out of money.

Yesterday, I took the boys on a day trip to Mackinac Island. We sampled fudge, hiked 9 miles around the circumference of the island and then some, and they were still able to muster the energy to mess around in the mirror maze. We ended the day with pizza and ice cream on the island, and a stop at the local brewery on the way home. It was a great Saturday, and I can’t wait until every day can be a Saturday.



Mackinac Island Kayaks
kayaks alongside Mackinac Island


I’m Speaking at FinCon18. Twice!


The full schedule for the personal finance creators’ conference has been released, and I was happy to see my moniker appear not once, but two times.

On Thursday, September 27th, I’m on the “Four Flavors of FIRE” panel with JD Roth of Get Rich Slowly moderating. Joining me on the panel are Jillian from Montana Money Adventures, Mr. Money Mustache, and Mr. 1500.

On Saturday, September 29th, I’ll be part of the “Withdrawal Strategies for Early Retirees” panel with our friends Brad and Jonathan from ChooseFI, Karsten from Early Retirement Now, and Jean Chatzky from the Today Show, Her Money, and more.

I just dropped a lot of names right there; I hope I didn’t get your toes! Clearly, I will be among great company, and I am humbled to be included and excited to be on stage with these wonderful people.

If you’re interested in knowing more about FinCon18, you can read my recap of last year’s event here, you can see the full schedule here and register here — the price increases $100 on August 1st, so there’s no time like the present to commit if you’re on the fence.

If you’re not familiar with FinCon, I wrote a detailed wrapup of my first experience at FinCon last year.


A Minnesota Meetup


Four weeks from now, we’ll be wrapping up Camp FI Midwest just north of the Twin Cities. That event takes place Friday through Sunday, and a few of us will be getting together beforehand on Thursday, August 23rd.

That day happens to be the opening day of the Great Minnesota Get-Together a.k.a. The Minnesota State Fair. I haven’t been there since college, and my wife and kids have never been, so we plan on making a day of it. I’m thinking we’ll have a happy hour meetup at the beer garden with the possibility of a second meetup later on that evening in Minneapolis.

Watch the Sunday Best for more details in a few weeks. I’d love to say hello to some of my friends in the North Star State!



Have a fun week!

-Physician on FIRE

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10 thoughts on “The Sunday Best (7/29/2018)”

  1. Thanks for the share, PoF!

    I’ll be going to Mackinac Island for the first time later this month — any recommendations on where to get the best fudge on the island?


    • The good news is they all give out free samples. So you can try before you buy and decide for yourself!

      I can recommend the garden room at the back of the Murray Hotel for a $9.99 16-inch pizza and 99 cent soft serve ice cream. That’s what my boys and I shared. We’ve also had great meals at Yankee Rebel Tavern. The Diablo Mussels are delicious.


  2. Subscribe to get more great content like this, an awesome spreadsheet, and more!
  3. What a panel of heavy hitters in the personal finance space! The “Four Flavors of FIRE” and the “Withdrawal Strategies for Early Retirees” look like a can’t miss panel. Looking forward to seeing you, the other panelists, and many more speak at FinCon!

    Also, welcome to the world of Instagram. It’s cool seeing your boys having a wonderful time this summer!

    • Thanks! I’m just getting the hang of instagram. I look forward to those panels, and meeting a bunch of new people — including you!


  4. PoF
    Great list – as always.
    You don’t need that 8-figures. Your side gig is great and growing fine. It is hard to not think about loss and opportunity costs. You already make too much money. You don’t need the money you make now so ignore the imagined “loss” that needs to be made up. Plan to cover your particular needs and wants you will be fine!
    P.S. I can’t believe those panels you will be on at FinCon! Are you pinching yourself? I would be. Part of me is jealous. Okay all of me is!

  5. Can’t wait to hear you speak at FinCon!

    Also, a great round up. Lots of number crunching and hard hustling.

  6. Not gonna lie, as we are currently trying to figure out how to cram in everything we want to do during our week in Maine, a bit jealous to hear about a laid back 4 weeks in Michigan. I also understand the planning it’s taken you and appreciate you sharing on this blog.

    We are at the point our savings rate is approaching 30% but getting resistance from the wife on increasing further. Hopefully anecdotes such as this will allow her to see with a little more saving now we could cut back work in the future and not live like misers.

  7. I feel like such a slacker in medical school compared to these guys. Kudos for balancing a challenging time with all that information and still have time for a side Hustle.

    The cap rate post is especially of timely interest to me as there is a chance my medical office building (my home run investment to date) will be sold and we are entertaining offers with the cap rate being key.


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