The Sunday Best (7/7/2019)
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.
For more great articles, take a peek at The Sunday Best Archives. Now let’s get to the best… The Sunday Best!
The Sunday Best
Sadly, too many physicians have leaned heavily on the advice on unscrupulous advisors who can earn more from the commission on one life insurance policy sold to a doctor than the doctor will make in a month of honest work. From The White Coat Investor, 10 Reasons People Regret Buying Whole Life Insurance.
To fatFIRE, most will need more than $2 Million for a gilded retirement. The surveys agree, as Accidental FIRE has discovered. Study: Having $2 Million Does Not Make You Wealthy.
How many millions does it take to be considered wealthy? And how does one obtain said millions? Jim Wang of Wallet Hacks analyzed a plethora of available data and found some answers. How Do Millionaires Make Their Money?
Did you know that George Washington was independently wealthy to the tune of over a half-a-billion dollars (in today’s dollars)? Me, neither. This factoid and much more from Life Outside The Maze in The Founding Fathers on Financial Independence and Happiness.
Do you like parables? Big Family Small World does, and I do, too. The good doctor weaves physician burnout, sabbaticals, and learned helplessness into an essay based on the dog who was Stuck on a Nail.
How much can you expect from Social Security if you retire today? Have you reached the first bend point? Or the second? Find out in Social Security & Early Retirement 2019: Know Your Bend Points!
Have you ever wondered how things would have worked out financially if you chose a different profession? Jake Tabbot did, and he ran some numbers. Is Medical School Worth the Cost?
The Physician Philosopher is an avid sports fan. He’s also a money fan. He’s noticed numerous parallels between the two. The Top 5 Lessons from Sports on How to Be Better With Money.
See You at WCICon 2020?
We had a blast at the first Physician Wellness and Financial Literacy conference, a.k.a. WCICon18.
The next version promises to be bigger and better, and tomorrow evening, the White Coat Investor’s gathering in the desert will be open for registration.
Yes, we’ve traded the ski hills of Park City for the lights of Las Vegas. Because where else would you expect our teetotalling, no-gambling, mountain-loving host Dr. Jim Dahle to host his conference?
Apparently, Sin City has lots of options for hosting a conference of 600+ people, and it’s an easy and cheap destination. And it’s not that far from Utah, so it kind of makes sense.
I’m not sure where in the world we’ll be next March, but I’m definitely flying back for this. Check the White Coat Investor‘s site tomorrow evening, 7/8/2019 at 9pm Eastern / 6pm Pacific for all the details. I hope to see you there!
See You in Ecuador?
The most frequent question I get in real life these days is “What are you going to do next?” As in, after I leave my job.
I’ve got lots of ideas, but the only definite plans we’ve got are to spend two months in Ecuador this fall. One of those nine weeks, I’ll be attending Cheryl Reed’s Chautauqua, an FI retreat in a beautiful setting at Above the Clouds Retreats.
In addition to Cheryl, who has realized her dream of living in Ecuador full-time, I’ll be joined by Paula Pant of Afford Anything (best known for that Suze Orman interview) and Steve Adcock from Think Save Retire (who will be hanging out with us in northern Michigan a couple weeks from now!).
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Have an outstanding week!
-Physician on FIRE