There are a lot of different types of funds you can buy. So then… why index funds? The general idea behind index funds are that they should have the lowest expense ratios and should have no load or any other hidden costs. By having the lowest costs possible, and simply tracking the market rather than actively trying to beat it, you have the highest chance of coming out ahead over the long term compared to an actively managed, […]
Umbrella insurance is “non-occupation” liability. Occupation-liability (in our case) would be your malpractice insurance. I didn’t really discuss Umbrella Insurance as a necessity because for most residents and young attendings it isn’t really necessary yet as it falls into more of the “asset protection” category. Until you have assets to protect (such as a house) then you really don’t need this. However: You want your non-occupation liability insurance to be approximately equal to the assets […]
Umbrella Insurance
After the long journey that is intern year, you have now arrived. The 1st day of your 2nd year of residency you are no longer the most dangerous person in the hospital. Congratulations. However… with great power comes great responsibility. As a junior resident, you are in a unique “balancing act”. You will be the closest to all the interns, but still somewhat far-removed from the attending, which is usually reserved for upper-level residents, chief […]
How to be a Good Resident
“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 […]
Compound Interest
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 […]