Category: Personal Finance

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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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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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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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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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…

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We love to travel. Honestly, we spend more on travel each year than any other category in our budget. A handful of people have asked, “Since you love traveling so much, why not buy a timeshare?” Doctors are suckers for deals. Especially timeshare deals. Salespeople feed off of our “desire for relaxation” because they know…

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In 2004, I originally read David Bach’s book, The Automatic Millionaire, after it was first released. He has since updated it to an “Anniversary Edition” in 2016. Recently, there’s been a lot of talk in the financial blog space regarding millionaires. It seems that many people want to know two things: Who they are? How to…

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Let’s face it. Doctors and other high-income professionals pay a lot of taxes. They’re unavoidable. But when it comes to your retirement savings, you have a choice as to when you want to pay them. Now, or later? One potential way to save on taxes later is converting a 401(k) to a Roth 401(k).  Before we…

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5 Best Ways To Invest 50K Wisely For 2024 And Beyond What’s the best way to invest 50K? This question was recently posted on a doctor-finance private Facebook group that I’m privy to. I was amazed at the number of responses and broad range of answers regarding the best investment strategy. Having an extra $50,000 is…

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The more personal finance and debt free blogs I come across, the more I realize most doctors are striving to achieve financial freedom. What exactly does this mean? In simple terms, a financially independent person has enough wealth to live on without working. There’s an entire group of FIRE (Financially Independent Retire Early) people (like Physician…

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For some reason, I’ve been on a kick lately researching millionaires, specifically, what it takes to become one. One phrase that has popped up several times during my research was: “the first million is the hardest.” If you’re a doctor reading this, listen up. These next few paragraphs will hopefully open your eyes and motivate…

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I’ve been a long time listener of the Dave Ramsey show. For those of you familiar with Dave, then you’ve probably heard him mention the Seven Baby Steps to financial freedom that I’ve discussed in the past. Baby step #5 has to do with starting to fund your kid’s college. He recommends either a Coverdell Education…

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