5 Reasons to Not be a Doc, If You Wanna Be Rich.

Perhaps I’m preaching to the choir. It’s not hard to know that you are poor when you are in you 35 without a house, with a 20 year old Honda accord, without money in retirement savings, and with a student

5 Lessons a Penniless-Immigrant-Turned-Multimillionaire Aunt Taught Me

20-year-old and broken-hearted, she decided to leave Taiwan and start a new life. She literally “jumped the plane” and landed in LA California after finding her then fiancé cheated on her. She wanted a new beginning and have heard of

5 Reasons I’m Hard Working & Happy Wherever I Go

If you are not into details, skip straight pass the blue texts, which provide the background incident that inspired me to write this post. But the 5 points are listed in the black texts following the blue ones 🙂 I

5 Doctor-Proof Tips to Great Wealth: S.P.E.C.T.

Medicine is a profession of acronym, so here is one for your money and wealth. S.P.E.C.T. stands for Simple, Passive, Emotionless, Cheap, & Time. As physicians, we know our trade well, naturally, after spending an average of 23-27 years studying

Morbidly Obese & Morbidly Malnourished

Today, we did (6 moths ago) a fluoroscopic upper GI series on a patient, my age, who’s 700 lbs. I was so depressed when I saw her entire bare back with excess subcutaneous adipose tissue hanging in rolls behind her

4 Ways to Tax-Free Money Everyone Should Try

1.       Cash back from credit cards. We all need to eat. Buy your groceries, and in fact all your necessities with a credit card with good cash back. While most people settle for cash back of 1-2%, with a little

2017 New Year Gift to Self: Not Clothe-Shopping for 3 Years

I recently stumbled upon Mrs. Frugalwoods and was very inspired by her. I thought that I had a ridiculously high savings rate, allowing me to retire by 2023, within 2.8 years of finishing fellowship. Most (soon-to-be) radiologists look at me

3 Top Reasons Society Should Love Doctors More

  Why do we rare hear of heroic cardiothoracic surgeon saving the life of patient with AAA rupture but we hear about doctor scandals with such as a M.D. overdosing from medication or another swindling cancer patients out of their

How Doctors Can Stop Living Paycheck to Paycheck

I was inspired by Passive Income M.D.’s post on Why Doctors Live Paycheck to Paycheck (P2P) and would like to offer some suggestions to live the other end of the lifestyle spectrum of P2P. I lived P2P once, in college and in

5 Ways to Optimize Wealth Building Before Your First Attending’s Check

A dollar invested in PGY1 has nearly one more doubling time compared to that 6-10 year-later-invested dollar in your first few attending years. And if you invest this PGY1 dollar in post-tax vehicles such as Roth IRA or Roth 401k,

Mini-Retirement at 36 Instead of Full Retirement at 38

As I have great reasons not to retire as soon as I reach financial independence at 38, I also love the idea of mini-retirement by Tim Ferriss. Even though I don’t foresee myself paring down to 4 hour work week and raking

4 Reasons MS & PGY Should Start Building Wealth Today

Many of us have our mind set on starting to build wealth when we finish training. Some say, “I’ll be making so much more money that what I save now will not matter in comparison.” Others say, “I just can’t

Dear Colleagues, We are Here to Help

I recently read a white coat investor post about a couple who’s in their mid-40 with 5 kids, 2 in college, with 300k debt still and little aggregate savings. It broke my heart and motivated me to work harder to

10 Heart & Wallet Healthy Habits

  Make and drink organic fruit/veggie/seeds smoothie. Daily organic smoothie is way cheaper than Starbucks Latte and does incredible things for your bowels, energy, and health. Cook at home. Cooking with your spouse can be the start of a romantic

5 Job Titles Instead of Saying You Are a Doctor

Don’t tell me you’ve never done this: deliberately avoid revealing that you are doctor. Whether it is like White Coat Investor, who rightfully thinks that he may get a better deal if the sales person doesn’t know he’s a doctor,

5 Lessons a Harvard-Stanford Trained Radiologist Taught Me

I recently had to see a dear mentor off, as she leaves UA medical imaging to join her family on the East Coast. She was a gem in our program. Many people were really sad to see her leave, but

6 Financial & Professional Advantages of the Small Fish in the Ocean

While it may seem nice to be the big fish in a small pond, it is not at all the most advantageous position for rapid progress and ever-climatic serial successes.  1.       Many to learn from in immediate surrounding. While I

My Debt is Better Than Hers: 5 Reasons Credit Card Debt Trumps Student Loans

1.       Are you kidding me? Look at the interest rate! First off the highest interest rate I have ever paid to a credit card company is 1.7%. In fact I have not paid a penny of interest other than that

Tax-Sheltered Savings Beyond 401k, Roth IRA, & 529-Expert Sessions with Johanna Fox CPA,CPF,RLP

It was a pleasure to have “sat” with Johanna Fox CPA,CPF,RLP this early Saturday morning (via face time, in the comforts of our respective home offices.) As I need more tax-efficient space to save money beyond (my Roth IRA, Roth

My Million Dollar Mistakes, Your Free Lessons

Top 5 Mistakes Which Made Me Money Wise Today   There’s Chinese folktale. There is temple on a mountain so high that people believe it reaches the heaven. In the temple, sits the statue of a Buddha, which took 100