Please check out my new article on Student Doctor Network, part one in a series on financial literacy for the newly minted physician!
With apologies to my specialty's journal, Annals of Emergency Medicine, whose format I've adopted, the following is an abstract and editor's capsule summary to whet your appetite for the full article.
“Regrets, I’ve had a few. But then again, too few to mention…” These famous lyrics from Frank Sinatra’s My Way unfortunately remind me that my financial decisions during my first decade earning an attending’s salary were chock full of regrets. I did it my way, and I paid dearly. With the sincere hope that you avoid these same pitfalls, following are some of my costliest mistakes.
Inspired by this post from Mr. Money Mustache, the wife and I sat down to figure out how we could teach our children about money. At ages 7 and 9, we wanted to encourage saving and investing over consumerism and profligate spending. Over a series of sit down discussions with the kids, we were able to cover some basics and develop a starter investment plan for them.
Uber, the ride-sharing colossus, was recently highlighted in a New York Times article that left them looking like a diabolical Bond villain. Whether you regard Uber as a brilliant tech disrupter of the complacent taxi monopoly or an opportunistic lord abusing a new class of serfs, the provocatively titled article, “How Uber Uses Psychological Tricks to Push Its’ Drivers’ Buttons,” was a neat lesson in applied behavioral finance.
I was fortunate to live in the San Francisco Bay Area in the 1990s. As a product of Stanford and UCSF, and later an intern at Santa Clara Valley Medical Center, I was a witness to the dot com revolution (and the subsequent dot com bubble) that swept the nation.