Below you'll find a list of all posts that have been categorized as “Investing for Physicians”
At the start of 2020 we revised our asset allocation, reducing equities while increasing fixed income. Serendipity had brought us closer to the finish line more rapidly than we’d anticipated, so we wanted to avoid giving up those extra gains. We made the move to heed Bernstein’s dictum that the goal of investing was to not die poor. Part of …
The gospel of real estate has received a lot of air time on Big Physician Finance recently. I consider myself to be on good terms with the powerhouse physician finance bloggers (even if all but a couple couldn’t pick me out of a lineup). I realize that’s such a niche market that it’s akin to boasting of your band’s status …
We tend to recall our winners disproportionately, a wiring flaw in our human composition. I first became acquainted with this fact when someone dear to me began touting her remarkable track record with matchmaking friends. She liked to entertain friends at social gatherings with the two marriages that had come into being due to her intervention. Much was made by …
Iteration, iteration, iteration. You repeat a process with minor tweaks, incorporating what you’ve learned from your successes and failures, until you ultimately arrive at a workable solution. This is a weirdly personal case study, but I thought it adequately described a valuable process. It also demonstrates that the difference between success and failure is persistence. I have a dust problem …
I continue to iterate as I consider my future as a real estate investor. In the culmination of a 3-part series, I’d concluded that a viable next step after I depart medicine would be directly investing in real estate. In that post, I laid out my careful plan: invest in and self-manage multifamily properties, obtain Real Estate Professional Status, claim …
When our investments reached certain milestones ahead of schedule, we discussed over several months whether we ought to take some risk off the table. In the end, we revised to a more conservative target asset allocation of 60/40 equity to fixed income. Then we mulled it over some more, and modified it to 45/40/15 equity/fixed income/real estate. This was in …
As an ER doc and birdwatcher, I find that the breadth of human behaviors have a great deal in common with the variety of birds. Many years ago I enjoyed explaining to a faculty interviewer at a residency program that a short observation period, applied pattern recognition and a need to think quickly on one’s feet are inherent to both …
“A” is a managing director at a hedge fund, which provides the unique opportunity to obtain insights and perspectives that seldom reach the FIRE echo chamber. “A” has graciously agreed to let me share our most recent correspondence below, which began after I forwarded Big ERN’s recent article on the “Passive Investing Bubble.” The big concern I personally have with passive …
I continue to read the 2018 edition of Reducing The Risk Of Black Swans by Swedroe and Grogan, and I’m thoroughly enjoying the intellectual exercise. Today, I’ll share my latest A-ha moment.When designing a portfolio, we often use the terms risk tolerance or risk aversion. The caveat to using these terms is that investors don’t have a terrific way of …
In Part 1, we outlined how high income professionals who respond appropriately to tax incentives can easily find themselves with a majority of their retirement nest egg in tax-deferred accounts. Left unchecked, this imbalance can lead to tax-inefficient withdrawals in the form of required minimum distributions (RMDs). Compounding a bad situation, inheriting tax-deferred retirement accounts can saddle the surviving spouse …