Docs Who Cut Back #5: Wealthy Doc

crispydoc Uncategorized 13 Comments

Wealthy Doc was possibly the first physician finance blogger, generously helping us learn financial literacy back when Al Gore had barely invented the internet. In those days, the White Coat Investor had not yet started his blog, skinny ties were all the rage, and we docs were doing stupid things with our money. Nearly a decade later, WCI might clear …

Strategies For Cutting Back: Group Policy Change

crispydoc Uncategorized 12 Comments

Medicine is a conservative profession, where change is viewed with suspicion and the reason, “But we’ve always done it this way!” is as unquestionable as, “I’m the mommy, that’s why!” was in childhood. (Incidentally, the latter was the bumper sticker on the station wagon that served as my first car, which made meeting girls as a 16 year old uniquely …

Teaching My Kids To Prepare For A Bear

crispydoc Uncategorized 7 Comments

I’ve written previously about my attempts to teach our children about investing in order to demonstrate the value of letting your money work for you. With the raging bull market, it had been an easy lesson, since every time we checked their investments they could see gains. Now comes the greater challenge. When we started their financial education, they earned …

Convergence

crispydoc Uncategorized 15 Comments

This weekend was spent in North Carolina strengthening ties with people we love but see less often than we’d like. BT is one of those people. Most of us were single. BT was married with a kid. Most of us had family in California BT was a southerner with a disarming drawl. On learning that fast-talking West coasters inevitably underestimated …

A Priority We Pursue vs. A Luxury We Can Uniquely Afford

crispydoc Uncategorized 10 Comments

Pursuing financial independence, especially as a physician, can inadvertently bring about feelings of resentment from colleagues. Taking cues from bloggers far smarter and more experienced than I am, I’ve learned not to bring up the subject of finances around co-workers, although if asked I’ll volunteer that I geeked out on finance a few years back and took over managing our …

My Investor Policy Statement for Time

crispydoc Uncategorized 4 Comments

A key component of any financial plan includes an investor policy statement (IPS). The idea is to identify objectives, map a route to reach them, and detail the logistics in a manner where you can hold yourself accountable to the plan you create. This is critical because in defining a specific course of action you create a model to stick …