5 Tips for Back to School Shopping  

Mini Wise Money requests to switch to Basis Tucson Primary. I was surprised because her friends at Sunrise Drive told Mini how much work and how little fun Basis is all about. I asked Mini, “are you sure, don’t you

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

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,

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

What Resident Meal Card Taught Me about Retirement

  Don’t spend money just because you have it. I see residents buying $3.50 brownies, $2 surgary, or worst diet drinks from the cafeteria. I would never do that for a multitude of reasons. For one, drinks loaded with sugar

How I Accelerated My Student Loan Payoff

I charge all my expanses that are chargeable onto my credit cards and funnel my (limited) cash flow towards debts with interests. There are lots of variation in terms what can be charged on a credit card. Some people’s circumstances

Top 6 Things Dr. Wise Money Splurges on

Top 6 Things Dr. Wise Money Splurges on

We all make room–be it time, energy or money– for people & things which matter to us. Many readers & acquaintances think I’m crazy for putting $23,500 into my Roth 403b & Roth IRA in 2015. In 2016, I will continue to do the same along with the new

How I Contributed $23.5k to Roth IRA/Roth 403b in 2015 as PGY2

How I Contributed $23.5k to Roth IRA/Roth 403b in 2015 as PGY2

I’m a big proponent of maxing out available Roth space during low income/training years. However, most of us don’t have enough income to put $23,500 post-tax dollars away on resident/fellow income. Below I will share how I contributed $23,500 post-tax

Living Richly Today: A More Relatable Dr. Wise Money

Living Richly Today: A More Relatable Dr. Wise Money

When my colleague/collaborator White Coat Money published my guest post: How I Contributed $23.5k to Roth IRA/Roth 403b in 2015 as PGY2, he began the post with this editorial caveat: The following post describes a task that requires significant financial

Best of Both Worlds: More Cash Now & Lower Costs

I have been hearing from many of my co-residents that they are barely making ends meet each month, paying for rent or mortgage, student loan, food, childcare costs, etc. Wouldn’t it be nice if somehow we can free up some cash either

$1 Goes a Long Way Today

A few co-residents/ attendings have suggested that I present a talk on personal finance for doctors. Though not a fan of public speaking, I finally drummed up the courage to do so. My supportive program director gave me Friday 1/29 lunch

Save 10-15% on your annual grocery bill AND fund your ROTH IRA!

Sprouts Farmers Market is selling gift cards at 90 cents on the dollar this coming Wednesday 11/4/2015 (traditionally this promotion happens once a year on the first wed. of November.) So let’s say your household grocery bill is $400/month, you

Ways to save (more) without cutting back

When my resident peers learn that I’m putting 23.5k away annually as a resident or that I’ve already paid off my student loan, many people’s response is “I’d rather enjoy life now.” I totally agree with enjoying life”always.” I also

How can I possibly save more?

Yesterday (wrote this a few weeks ago) was my first day of Radiology. I was beyond excited to meet very friendly, intelligent people who are passionate about teaching and learning radiology. My cohort, class of 2019 includes 7 guys and

How to increase my savings rate to 50% and more?

Since I just started radiology and got a whooping 2k raise for 2015-2016, time to revisit my budget and see if I can save more efficiently. From my pgy2 income, not including my side job in tutoring, Monthly Pay$4,461.08 Federal

hunting and gathering…food

Lots of money can be saved or even made by buying your food with some simple tips. Discount. like anything else don’t accept full price for food. meanwhile, balance this with “you get what you paid for” I’d rather spend

Wholesome foods, wholesome prices!

Ever want to have gourmet healthful foods that won’t burn a hole through your wallet? Like I said before, while I am pretty much without needs or wants in most aspects of my material life; I NEVER skimp on two items: