Blog
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Why Compound Interest Is The Eighth Wonder Of The World
The great Albert Einstein said, “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” I couldn’t have said it any better myself. For anyone who wants to build lasting wealth and accomplish financial freedom, understanding and harnessing the power of compound interest…
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6 Basic Steps For Doctors On How to Invest Money
(Editor’s note: This post was originally published on The Money Mix.) Congratulations. You’re a doctor and your income potential is much higher than most. Once you get to the point that you’ve paid off your student loans and credit card debt, it’s now time to focus on saving and investing. With so much information floating…
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Pros And Cons Of Consolidating Student Loans For Doctors
One of my tennis partners is also a local surgeon. His daughter is a LSU medical student also aspiring to become a surgeon. I recently spoke with her and her boyfriend (also a medical student and good tennis player too) recently. They were excited about finishing up their first year of school (especially gross anatomy).…
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Dollar Cost Averaging vs Market Timing: Which Is Best?
I recently read the hard to find book, Simple Wealth, Inevitable Wealth by Nick Murray. In it, he discussed four behavioral tactics to be practiced during different “seasons” of one’s investing lifetime. One of the behaviors was: “Invest the same amounts monthly, in the same funds, so as to harness the power of dollar cost…
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6 Principles of Persuasion – Robert Cialdini Influence
6 Principles of Persuasion – Robert Cialdini Influence One of the most important things we can do as parents is teach our kids the necessary skills to get them ready to enter the real world. I wish someone would have forced me to learn the three main ones I think are critical no matter what…
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Top 3 Slowest Times At Disney World To Visit
To say we love going to Disney World would be an understatement. Well, I take that back. My kids and I love going but not so much Mrs. Debt Free. I’ve written several times about how spending money on experiences brings more happiness than buying stuff. If you’re looking for an experience to take your…
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One Of The Best Personal Finance Podcasts You Should Listen To
Ok, Ok. I admit. I’m a bit biased on today’s topic regarding one of the best personal finance podcasts you should listen to. Denis and Katie over at the Chain Of Wealth recently reached out to yours truly for a podcast interview on their site. They’ve recorded over 150 episodes talking with members of the…
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7 Unexpected Habits Of A Frugal Millionaire
When you hear about someone being a millionaire, you typically don’t picture them as being frugal. The phrase, “Frugal millionaire” is not something that typically goes together such as a peanut butter and jelly sandwich does. But, if you’ve read books such as “The Millionaire Next Door” and Chris Hogan’s new book, “Everyday Millionaires,” you’d…
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3 Reasons Why You May Need A Financial Coach
It’s amazing to me how God knows which doors to close in order to open new ones in our lives. When I look back to my first year of dental school in 1996 and then fast forward today, I NEVER thought I’d be doing the things I am now. If you would have told me…
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Debt Free Doc Interview 6
Here’s our latest interview with a debt free doctor (or soon to be). These stories allow us to continue to learn from those who are free of debt or currently on the path to do so. If you’d like to be considered for an interview, drop me a note and we can talk about specifics. Be sure to read…
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5 Smart Ways On How To Reduce Taxable Income For High Earners
Paying taxes is unavoidable, but there are numerous opportunities to help lower a tax bill. Recently, I came across a finance forum for doctors that piqued my interest. One of the most highly viewed posts was, “How To Reduce Taxable Income For High Earners.” Most high income earners that I know are constantly looking for…
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What Are Dave Ramsey’s Baby Steps?
What Are Dave Ramsey’s Baby Steps? I can still vividly remember where I was when I first heard the Dave Ramsey show. At the time, I was completing a dental residency in New Orleans. Honestly, I hadn’t given much thought to my accumulating student loan debt ($250K+) because I thought I’d make decent money once…
