Blog
-
5 Reasons Physician Side Gigs Are A Must
5 Reasons Physician Side Gigs Are A Must Today’s article is from my friend over at Physician On Fire. He retired from medicine at the age of 43 in 2019, having achieved financial independence several years earlier. He started Physician on FIRE to enlighten, educate, and entertain other high-income professionals while discussing money matters of all sorts.
-
Depreciation: The #1 Tax Break For Doctors
Depreciation: The #1 Tax Break For Doctors Most doctors fall into the 32% or 37% tax bracket. Needless to say, taxes are and will continue to be our BIGGEST expense. After becoming a business owner and purchasing an office and new equipment, I remember my CPA mentioning something about saving taxes with an annual depreciation
-
9 Minute Read: How’s The Culture In Your Kingdom Summary
How’s The Culture In Your Kingdom During the pandemic, Louisiana dental offices were shut down for seven weeks. It seemed that our state’s government didn’t consider our services “essential” yet people could still play the lotto and buy alcohol. No comment. The much needed down time allowed me to rethink some things both on a
-
Are Doctors Rich As The Public Thinks?
Are Doctors Rich As The Public Thinks? It seems as if the general public tend to assume that certain professionals are always well off. [You know what happens when you ASS-UME, right? :)] This could be anything from an attorney, doctor or engineer. But when a group of doctors were polled and asked, “Are doctors
-
5 Steps: How To Become a Millionaire In Your 40’s
5 Steps: How To Become a Millionaire In Your 40’s Want to be a millionaire? Most doctors and other high-income earners should have an easier time to obtain millionaire status versus the average person. But they face two major hurdles: #1 Late start #2 High debt Depending on your profession, you may not start earning
-
25 Best Passive Income Quotes For High Earners
25 Best Passive Income Quotes For Doctors If you’ve been a regular visitor to this blog, you know that I’m a BIG fan of passive income. Why? Because we’re not taught anything about finances during our training and I wanted to do my part to educate you based on my personal experience (even failures!). One
-
Secrets To Raising Your Money Savvy Family
Secrets To Raising Your Money Savvy Family [Editor’s note: Today’s guest post comes from Doug Nordman. He retired from the U.S. Navy’s submarine force in 2002 at the age of 41. He and his spouse, a retired Navy Reservist, reached their financial independence on a high savings rate. Doug wrote the book “The Military Guide
-
What To Buy Before a Recession – 6 Stages To Success
What To Buy Before a Recession? Each time a recession hits, it takes us by surprise – no matter if you’ve been through a one before or not. On average, since 1900, the US has experienced a recession every four years. Because of this, it’s important to know what to expect and how to handle
-
How To Become Wealthy – Doctor’s 3 Step Guide
How To Become Wealthy – Doctor’s 3 Step Guide It seems as if “good news” is hard to come by these days so I thought I’d start off by spreading some: “If you’re a doctor or other high-income professional wanting to learn how to become wealthy….GOOD NEWS!” It’s MUCH easier than you may realize. Why?
-
The 7 Best Real Estate Books For Investing
The 7 Best Real Estate Books For Investing One of the more popular Google searches today has to do with achieving financial freedom. When I turned 40, we reached debt-free status which felt great for about….two weeks. As a periodontist, my life has been centered around setting and accomplishing goals. After getting into dental school then a residency;
-
The Ultimate Doctor’s Guide To Preserving Wealth
The Ultimate Doctor’s Guide To Preserving Wealth Warren Buffett is known for his wealth and most notably his rules for attaining it. One of his more popular rules involves preserving wealth: Rule #1 – Don’t lose money Rule #2 – NEVER forget rule #1 As a doctor, making money shouldn’t be an issue as your
-
Chop Wood Carry Water Summary: 9 Success Principles
Chop Wood Carry Water Summary: 9 Success Principles I’m always in search of a good self-improvement book. Lord knows I need all the help I can get! Most of the time, I get new book ideas from authors that I’ve already read before. If I like them, then I usually pull the trigger and purchase
