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

Credit Card Companies Offer Credit Watch, Free!

The era of having to pay $19.99/mo to monitor credit score &  activities is gone! Credit card companies are offering free credit score and selective credit activity details let & right. One can get great sense of his/her credit health

Doctor’s vs. Conventional Loan

A few differences between doctor’s vs. conventional loan doc loan low or no down payment (Compass requires 0% down, BOA requires 5% down) Doc loan no PMI (Private Mortgage Insurance) Doc loan takes future income up to 60 days prior

Seems Costly, but Definitely Worth It.

Seems Costly, but Definitely Worth It.

“If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.” ― Lao Tzu     I have rarely felt peace

The Cost of Buying 2 Homes in 2 Years.

The Cost of Buying 2 Homes in 2 Years.

This post is written a few months ago, prior to the transactions of selling 1st home and buying 2nd home have taken places. Actual figures approximate estimates below & will be updated once all finalized. Say what? DWM purchased 2 homes

DiscoverIt Lent Me $3600 on NEGATIVE 31% interest for 15 months

shop with   and get cash back What is the highest interest rate you have been charged for borrowing money? For some of us, credit card companies might have caught us with 15-30% interest at one point in our lives (hopefully one got

Wall Street to White Coat: Interviews with Dr. Unger Part II

Wyatt Unger, M.D., M.B.A, is a 3rd year radiology resident at the University of Arizona.  Wyatt earned a B.A in Economics from Northwestern University and an M.B.A. from the University of Arizona.  Prior to pursuing a career in medicine, Wyatt

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

Where to put limited PGY dollars?

As we become aware of how the time value of $ works against us (student loan interest), we will also learn about how it works for us. After refinancing your student loan, not only do you enjoy paying off an

2015 Milestones…

As everyone excitedly talks about holiday plans and we hit the half way mark of first-year radiology training, (overnight calls will be upon us in 6 months), it hits me that 2015 is coming to an end. 2015 has been a big year in many

Investment portfolio

My investment portfolio is stupid simple and passive. I buy the US stock market and hold for at least 3 decades. 100% stocks for now, will re-balance as my risk tolerance decreases with age/nearing retirement. I know of an financially

Mortgage payments, biweekly or refinance?

I wrote this post several months ago. As soon as I was liberated from the onerous 6.8% interest of my student loans, I turned my attention to my next most expensive (highest interest) debt. My then mortgage was a doctor’s

What should I do? 350k @ 6.8% interest rate, 3 more years of training.

What should I do? 350k @ 6.8% interest rate, 3 more years of training.

I recently met a colleague in the surgical field, who’s in his 4th year of training, with 3 more years to go. His numbers may apply to many at the same level of training. I figure I can take this

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

Doctor’s vs. Conventional Mortgage

This post is an expansion from a discussion with an attending reader who’s considering doctor’s mortgage. Since within the last year I have purchased my first home with a doctor’s mortgage, and then refinanced it to a conventional mortgage. I would like

Mortgage refinance 7 months after buying my 1st home.

This post boils down to Interest saving is guaranteed and tax-free gain, especially sweet when 1. it comes @ no cost/fees 2. it frees up additional cash flow 3. it allows you to build equity faster  4. The above can be accomplished

Numbers speak louder than desires…

Numbers speak louder than desires…

We recently faced the dilemma of whether to purchase another home so that my parents can live in one of them and we another. We COULD afford a 2nd home mortgage/expenses, but I suspected it was NOT a numerically sound choice. Since

What to do with 80k?

What would you do with 80k cash flow over 2 years? Pay down/off student loan? Buy your first home? Buy a second home? Pay off credit cards? Max out ROTH space? Max out pre-tax retirement savings? Buy term life insurance?

Timing Credit Trough’s

Dear Readers, I have a confession to make. I recently got my personal record low credit score of 717 (based on experian credit bureau, my transunion credit score is still 740, but down from 800; haven’t checked my equafax credit score.)

Debt free and Debt leverage

This series of posts is sparked by an ongoing conversation with my fellow radiology resident Bo Liu (no relation to me) of Re: student debt management and net worth accumulation. Our discussions cover many bases, so I will address individual key points in separate posts.