The Sunday Best (8/26/2018)


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:

 

Recently, I boldly stated that Money is Everything. Our lawyer friend (did I just say lawyer friend?!?) who is Trapped in Work offers a more complete perspective. Money Is Everything … Until You Master It. Then It’s Nothing at All.

 

Transitioning from a mindset of scarcity to one of abundance could be considered a key component of money mastery. Passive Income MD defines, compares, and contrasts The Abundance Mindset vs. Scarcity Mindset for Physicians.

 

An abundance mindset makes it easier to give generously. In a guest post at Thrifty Enough, Dr. Linus of Dads Making Cents shared The Nuts and Bolts of a Donor Advised Fund.

 

An abundance mindset is more easily adopted when you’ve got an abundance of money. I’ve worked “one more year” several times already to get mine. The Green Swan is a fan, as well, speaking out In Suppport of One More Year Syndrome.

 

What happens after one more year? Sometimes, it’s one more year. But it could be something else. Something Unfamiliar. From Reflections of a Millennial Doctor, What is Life When It’s No Longer Defined By Work?

 

lucidity locumsHow does one afford to live a life defined by life without work? From [no longer] Trapped in Work, Nine Traits That Got Me to Financial Independence at 41.

 

For a detailed, and I mean detailed look at the finances of another financially independent family, Chris from Can I Retire Yet shares Our Investment Plan: What We Do, What’s Changing, How We’ve Performed.

 

For a look at the finances of a half-dozen breadwinning, six-figure-earning, millionaire doctor moms, review the interviews from the Chief Mom Officer featuring Miss Bonnie MD, Hatton1, Foreign Born MD, and others.

 

Sadly, Aretha Franklin recently passed away, and unfortunately, she had not created a will. What happens in that case? From Women Who Money, What Happens if I Die Without Creating a Will?

 

Death is a morbid topic, but ignoring the subject won’t make it go away. This is particularly true with self-inflicted death. From Pamela Wible, 33 Orthopaedic Suicides. How to Prevent #34.

 

Camp Fi Midwest

 

I had the pleasure of speaking to an enthusiastic crowd yesterday at Camp FI Midwest. The topic was how to approach financial independence and early retirement with children. The title of my walk was “Have Kids. Will FIRE.”

A majority of the 60 or so in attendance either have children or may have them some day, so the talk was on point for most and well received.

I’ve never been a huge fan of public speaking; I don’t love being the center of attention and it’s much easier to present a polished blog post than it is to deliver a polished speech. Nevertheless, yesterday’s talk was actually a lot of fun to give. It helps to have a friendly audience, and this one included my wife, my kids, and dozens of new and old friends.

bankofamericaIt helps to get the audience laughing, whether intentionally or unintentionally, early on. That’s helps everyone, including the speaker behind the podium or on the stage, feel more relaxed. Start things off right, and rest of the talk should flow naturally. I feel I’m starting to feel more comfortable in this occasional speaker role.

These gatherings — this is my second one as a participant and first one as a speaker — are basically summer camp for grownups. There are talks from popular personal finance bloggers, roundtable discussions, and tons of time to just relax and get to know one another.

Three square meals are provided, as are equipment and space for recreational activities. There are team-building activities, happy hours, and thanks to Mr. 1500 and me, this current one offered an opportunity for some rare beer sharing.

If you’re ever looking to get away for a casual long weekend, meet some bloggers and podcasters (about a third of the attendees here are one or the other or both), and hang out with other people at various stages of their FI path, you should check out one of these camps.

 


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Have a marvelous week!

-Physician on FIRE

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15 comments

  • Wow. I knew about Dr. Wible’s work, and the list of 1000 doctor suicides she carries… But hadn’t read that piece yet.

    Truly eye opening. THAT is why I am so passionate about teaching students and residents not to lose their self identity in medicine and try and support them when they make mistakes and show them that there is a way out if they should ever need it.

    Really glad you shared that one, POF. For anyone that skipped over it. Go back and read it.

    I also love the piece by reflections of a millennial doctor. I’m actually sharing it tomorrow, too. It’s gonna be getting a lot of love in the next thirty days. “M” is a phenomenal writer.

    Great list. As always.

    TPP

    • M

      I am humbled by your continued readership and support, TPP and PoF!!

      This blogging journey has felt like I’m the little sibling trying to keep up with the cool big sibs and their entourage. Thank you for including me in your well curated lists and providing a platform for me to share my ramblings!

      M

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  • Thanks POF for sharing my interview with Liz @ChiefMomOfficer. Times have changed since that interview. I now have a blog of my own. My net worth has increased by about 1 million dollars. I retired from my practice and am now working for my hospital. Oh and I got divorced. I read the interview and thought that is a lot of changes unless than 2 years.

  • VagabondMD

    Thank you for including the blog, Reflections of a Millenial Doctor. She is writing some great stuff on burnout and deserves a wider physician readership.

  • Thanks for the (2x) love PoF! And yes, lawyers can be friendly . . . after they retire and don’t have to be lawyers all day, every day. Joe

  • huskerdoc

    Always look forward to the Sunday Best. Any chance you will do a post similar to or able to share your presentation that you gave? 34 here with 2 yo and one on the way and looking to job-share in 2 years alternating 6-8 weeks on and off at a time. Curious what you had to say and also your experience with schooling/homeschooling for your kids? I think we are looking to homeschool at least to start so we can do some long international trips during my time off. Thanks!

    • The talk I gave was partially off the cuff and partially based on my FIRE and procreation post. That’s where the math came from.

      We don’t yet have any homeschooling / roadschooling experience other than the summers and three-week trips we’ve taken as a family. There are so many online resources for them to learn and for us to help teach them that I don’t think it will be a difficult transition when the time comes.

      Be sure to let me know when you start your adventures. I’d love to hear more about them.

      Cheers!
      -PoF

  • Brandon

    You did an excellent job with your speaking at campfi. It was a great opportunity to learn from you and the other speakers. Keep up the good work!

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