The Sunday Best (8/23/2020)

Share with a quick click!

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!

 

 

The Sunday Best

 

In terms of privilege, the military surgeon behind SurgiFI started about 500 yards behind people like me. Given the challenges he’s had, you’ve got to respect how far he’s come. In his own words, I am Not Supposed to Be Here . Personally, I believe more voices like his need to be here. #ImposterSyndrome

 

What are the best and worst financial decisions Crispy Doc has ever made? And what was it that burned him to a crisp? A total of 10 questions answered by the good doctor in A Visit From Scrappy Younger Me.

 

I’m constantly impressed by the insights into human behavior and money from Morgan Housel, the author of the upcoming Psychology of Money. Constant Renewal shares a number of these widsom nuggets in Morgan Housel: Investor, Historian, Psychologist.

 

An immigrant who started with next to nothing has millions to his name just 12 years later. The insightful and often irreverent interview series is back! One immigrant’s rags to riches story is told in this Christopher Guest Post: Financial Freedom Countdown.

 

I don’t know that it’s been burning since the world’s been turning, but the FIRE movement’s roots can be traced back hundreds, if not thousands, of years. J.D. Roth of Get Rich Slowly digs deep into the archives with We Didn’t Start the FIRE: The True History of Financial Independence.

 

It’s been just over a year since I walked out of the hospital as an employee for the last time. Or might I go back? One Year of Early Retirement: Is the FIRE Still Burning?

 

Dr. Pay It Back recently celebrated being one year out from medical training. Paying down debts with a laser focus, his net worth has improved dramatically. Live Like a Resident: Financial Progress One Year Out of Training.

 

One thing I think every young attending physician should do in that first year out is read at least one good book on personal finance. Passive Income MD shares 15 books that have helped him achieve success in life. My Favorite Investing, Business, and Finance Books.

 

American Express Blue Cash Preferred

$300 cash back with a $3,000 spend in 3 months
PoF Summary

The Blue Cash Preferred card offers 6% back on up to $6,000 a year in grocery store purchases and 6% back on popular streaming services. 3% back on gas station & transit purchases, 1% back on all else. $95 annual fee waived the 1st year.

 

It should be no surprise to regular readers that PIMD is a big fan of real estate investing. My Money Wizard shares that enthusiasm for the asset class. How it’s totally possible to gain 17-28% annual returns through real estate.

 

How does it feel to see your net worth drop $600,000 in a single day? Ask XRAYVSN. When All Your Baskets Break At Once: The Black Swan.

 

A common criticism of those who pursue FIRE is that they’re locking themselves into a lifetime of ramen, rice, and beans, or at least a dedicedly middle class lifestyle at best. “Is that so?” asks Joe. From Retire by 40, Does FIRE Mean A Lifetime of Deprivation?

  • Those who levy such criticisms are clearly not familiar with fatFIRE. What is fatFIRE?

 

Living that fatFIRE lifestyle too soon can have profound effects, though, according to The Physician Philosopher. Why You Should Wait to Buy the House (The Diderot Effect). Alternate title: This Is Why We Can’t Have Nice Things.

 

When you can afford many nice things and are in want of nothing, what should you do with your money? The White Coat Investor has a half-dozen ideas for the well-heeled. 6 Tips For Those Who Have Enough.

 

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

 

Medical Degree to Financially Free

 

A couple of months ago, our friend Dr. James Turner poured his heart and soul into creating a course incorporating behavioral finance and personal finance for physicians. The result, M.D. to Financially Free has been very popular with those who have completed the course.

Originally, it was only available for a limited time, and that time has long since passed. However, rather than opening the course up again for a brief period, he’s gone ahead and made it open to all indefinitely. If you missed out the first time around, you can hop in now any time.

If you’re a B1G Ten or Pac 12 football fan, you’ll likely have plenty of time on the weekends to devote to such a thing. I have a feeling fans of teams in other conferences will eventually find themselves with some free Saturdays, but time will tell.

You can check out my review of M.D. to Financially Free, learn more from the course creator and past students, or take in a free webinar, The 3 Myths to Finding Financial Freedom at your leisure.

 

MD to Financially Free

 

 

 

WCI-Courses-Sale-10-percent-270

WCI is having a sale on all courses with a free bonus course included with your paid tuition this week!

In honor of Financial Literacy Week, if you buy either the Fire Your Financial Advisor or the 2020 Continuing Financial Education course, you will not only receive 10% off, but also receive the Physician Wellness and Financial Literacy Conference - Park City course for free.


 

Have an outstanding week!

-Physician on FIRE

 

6 thoughts on “The Sunday Best (8/23/2020)”

  1. Subscribe to get more great content like this, an awesome spreadsheet, and more!
  2. Hey PoF,

    Grateful for the introduction to SurgiFI!

    Also thoroughly enjoyed CR’s post on Morgan Housel – that man really is a poet of finance.

    You’ve clearly made great use of the pandemic to stay on top of every blog everywhere, a task that for most of us renders linear thought impossible but never seems to make you break a sweat.

    Appreciate the kind shout out,

    CD

    Reply
    • I have Dr. Nii Darko to thank for the introduction to Surgifi. Look for a podast episode with the three of us coming in the next few weeks.

      I liked your interview post and I’m glad you brought it into the light. No sense in leaving good work like that in blog purgatory.

      Cheers!
      -PoF

      Reply

Leave a Comment

shares