One of the most importance financial steps that a high-earner (or future high-earner) can take is insuring against catastrophe. Good saving habits and a strong income can go a long way, but they aren’t worth much if you get taken out of the workforce by a freak accident or a prolonged illness. I had read … Read moreBuy Insurance in Residency. Seriously.
Probably the first financial question I had after graduating medical school was what to do with this new windfall, the foreign concept known as a ‘paycheck’. Everyone talks about the transition from residency to independent practice as single the biggest financial event in the life of a physician, and this is true. Your (pretax) income … Read moreInvesting vs. Loans
A net worth of zero. For most people in the working world this would spell trouble, a sign that something has gone wrong and money has either been too hard to come by or it has been horribly mismanaged. You should feel like your hair is on fire, and start taking steps immediately to budget … Read moreGetting Back to Broke
Since the main purpose of this blog is to serve as a real-time account of my financial journey from trainee to attending, I am going to start a recurring monthly series of ‘checkups’ wherein I try to critically evaluate my spending patterns and how my money is allocated. If you only track two major parameters … Read moreCheckup – August 2018