“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” Who said that? I have no idea. People attribute it to Albert Einstein, but the truth is he probably didn’t say it either. In fact, people quote Albert Einstein a lot when he didn’t say the majority of those things. It’s simply trying to add more weight to whatever they are saying. “A […]
Monthly Archives: April 2016
I touched upon disability insurance on my intro post of “Why do I need insurance?“ I think disability insurance is actually more important than life insurance from a risk management standpoint. Warning, incoming morbid real talk about death and disability: If you die without life insurance then someone has to pay for your funeral costs, burial or cremation, etc. This varies widely, but for the most part, family members can usually help out with this […]
Disability Insurance
Let’s talk about How to be a Good Intern. The first thing to understand as an intern… is that just about everyone else in the hospital has more experience/knowledge than you. That makes you the most dangerous person in the hospital. You need to be aware of your inherent limitations. At no time during your first year should you ever have no “back-up”. There should be always someone who you can call. Whether that is […]
How to be a Good Intern
So after this first round of finance Friday posts we’ve gone through the basic definitions and established general priorities. Now I want to step back and remind everyone of the philosophy. Most, if not all of you, are young physicians or other highly educated young professionals. My investment philosophy is mostly tailored toward you because well, I am a young physician who went through the opportunity cost of 4 years of medical school and 6 […]
The Philosophy
Ok, so the last post of “Why do I need insurance?” might have seemed a bit backward since I told you all what to buy, and not why to buy it. That was intentional. As physicians we are so busy making big decisions day in and day out about things we know about… that when it comes to things we don’t know about, we tend to just throw money at it to make it go away. Trust […]
Life Insurance
So you’ve gone through your core clinical rotations as a 3rd year and now you need to think about choosing a specialty. You’ve done some rotations in the specialties you thought you might have liked, and they were.. ok. Perhaps you’ve even done the medical specialty aptitude test or something similar. None of that matters. You need to do some heavy introspection before you choose your specialty, and no one can tell you what fits you… […]