Dear Readers

Hi There, I’m Elva, apbka (also, previously, briefly, known as) Wise Money Shopper. Amanda, aka Dr. Wise Money, was my sister.

5 Ways Bedside Manners are Key to Physician Wealth

  Greater patient compliance. It takes us 23 years of minimum training to be a doctor (shortest residency is 3 years.) However, we quickly realized that we could do our best as docs, but don’t get good results if patients

5 Reasons I Choose Time in, not Timing, the Market

1.       Not worth my time to time the market. If a group of PhD economists who study and analyze companies all day long perform as well as a group of monkeys throwing darts in stock selection, why would I bother

5 Things Zootopia Taught Us about Money Success

I love the kids’ movie Zootopia. I laughed so hard and cried during that movie, frequently turning towards Mini Wise Money, sharing precious moments of inspiration and up-liftedness with her. It’s incredible what we learn as kids from cartoon movies

4 Reasons More Banks Should Refinance PGY’s

1.       Doctors are the least likely to default on their loans. Low risk lending. Doctors are an honest hard working bunch. The default rate of debt/liability of doctors is a fraction of that the average population. Low risk lending. This

Top 5 Money Pitfalls Every Doctor Should Steer Clear

Most of us choose to become physicians because we care more about serving others than making the most money with least effort. In fact, one could argue a career in medicine is the antithesis of maximum money for minimum work.

5 Uncommon Financial Commonsense

I’ve been hearing the term “educated dumb” and “commonsense is uncommon” frequently lately. It’s true that to be financially successful, all one needs is commonsense, which is pointed out by a VA nurse who’s retiring at 55, with 750k in

How My 8 Year Old Funds Her 2016 Roth IRA: Just in Time, Tax Break for Mom, Roth IRA for Kiddo

IRS is pretty strict about what you can pay your kids for. In a tax audit, paying an 8 year old 10k a year may seem hard to justify. But I think I have a case with my 8 year

6 $ Tips I Would Tell Dear Older Me

After I wrote about 6 $ Tips I Would Tell Dear Younger Me, I thought I should write to my future self too.  If it’s true that we learned everything we needed to learn in life as kindergartners, then I would thank

6 $ Tips I Would Tell Dear Younger Me

I love the song Dear younger me by Mercy Me. “Dear younger me I cannot decide Do I give some speech about how to get the most out of your life Or do I go deep And try to change

Money Chased Me the Second I Stopped Chasing

I was great at chasing. Anything I chased, I got. Go-getter as they called it. I picked my best friend(s), I picked my career in medicine, I picked specialty and residency programs (as they also picked me), I picked and

Top 5 Ways Yoga Helps Make Me a Millionaire

After a decade of hardly exercising, I decided to take care of my health at last. I started a 30 day yoga challenge, doing home yoga practice with YouTube instructor the same time I started recording “30 Day Mindful Financial

3 Things Society Doesn’t Know About Doctors

A Chinese folktale goes like this,   A magnificent Buddha statute sits at the mountain top where worshipers climb 100’s of 1000’s steps of stairs to arrive at his foot and to kneel down in prayers. One day, the slab

Money, Medicine, Motherhood, & the Presence of Mind: Moving up in Life

As I was on my mat today at a Yoga class, getting my as* kicked. I realized that I’ve progressed through four learning stages of my life… although at times still oscillating between the last 2 most challenging discipline to

5 Ways Good Finance Parallels Good Cooking

Having grown up on the kitchen counter while my gourmet chef mother cooks, surrounded by the aroma of her 24 hour simmer chicken broth, and her 200+ types of wines jam packed in our 1,000 square foot apartment, cooking is

5 Ways to Stay in Clinical Medicine & Be Happy

My hero and mentor recently wrote “5 Ways to Get Out of Clinical Medicine.” His article inspired me to write “5 Ways to Stay in Clinical Medicine & Be Happy.”   Even though I am radiology resident and frequently seen

8 Wealth-Fulfilling Prophecies

We are so hard on ourselves sometimes that we jam-pack our mind with self-defeating prophecies. Some of us do so before a big, expensive, high-stake standardized exam, prohibiting our hard-earned knowledge and experience to shine through the test questions as

5 Ways to Keep More $

  Keep $ from Uncle Sam’s claws legally. Set up a business. What is your hobby? Turn it into a business by submitting some simple documentations to set up a Liability Limited Cooperation (LLC.) My hobby is to help every

8 Wealth-Defeating Prophecies

We are the kings and queens of self-defeating prophecies. We place such high internal standards that we failed before we even tried. While everyone around us would be clapping hands at our valiant efforts or excellent performances, we thought our

5 Ways Busy Docs Make Easy $

  Use credit cards. Credit cards save me time. I don’t carry or count any cash. I know down to the penny (if I’d like) where my money goes because it’s all charged on 1 credit card. Credit cards save