Welcome to the “Personal Finance for Medical Professionals” section of our blog,
where we discuss all things related to personal finance. As a medical professional, you
work diligently to care for others, but it’s equally important to prioritize your own
financial well-being. This section explores budgeting, retirement planning,
investment strategies, and more. We aim to empower you to make informed
decisions that align with your financial aspirations. Financial independence is a goal
any medical professional can obtain, and we provide insights that will help you on
your path. Whether you’re just starting your career or a medical veteran, we aim to
help you achieve financial freedom. Let’s navigate the world of personal finance
together and unlock the path to economic well-being.
What If You Didn’t Need to Be Good at Everything?
One of my toxic traits is having a problem with “good enough.” I actually hate when I hear that...
We Don’t Want Our Kids to Think This Is Normal
We spent a lot of this summer traveling with our kids. If you see me at my happiest, it is on...
Thailandishness: A Financial Warning from Bangkok
I have a friend who moved to Thailand a few years ago to half-retire, half...
Life Audit
Recently, I was helping someone close to me build a line-item budget. As we worked through every...
Alternate Reality: A Counterfactual Look at My Last 20 Years of Investing
By the time I finish my summer vacation, it will have been exactly 20 years...
Favorite Podcast for May and June
The last two months have absolutely flown by. I completely missed my May podcast roundup, so I...
2026 Mid-Year Goal Check-In
Every January, I sit down and write three business goals, three personal goals, and three...
My Favorite Blog Posts June 2026
Now that my updated list of physician FI bloggers is complete, I will start highlighting my...
Koreanomics: My Family Trip to the DMZ
As I walked down the steep tunnel, stooping to avoid hitting my...
Confession of a PRN Princess
A few weeks ago, I was taking over a shift in the ER when one of my friends was giving me...
The Magical & The Mundane: Update Article May 2026
The KTX train has just left Seoul, and my seat in car #5 is a good...
What Running and Money Have in Common
About eight months ago, I decided I wanted to become a runner. My sister had started running...
My Favorite Blog Posts May 2026
Now that my updated list of physician FI bloggers is complete, I will start highlighting my...
The Unexpected Weight of Decisions
Medical professionals make hundreds of decisions each day, from the...
How to Make Your Money Work for You Later in Life
In the first article in this series, we talked about how people end up reaching their 60s and 70s...
Favorite Podcast in April
The months go so quickly. April flew by. I ended up running my half-marathon on my own because we...
Article 2: The Path to Financial Stability after 60
This is the second article in a series about getting a late start on your personal finances. In...
My Favorite Blog Posts from April 2026
Now that my updated list of physician FI bloggers is complete, I...
Lesson Four – How an Investor Makes Money from Stocks
Personal Finance for Professionals Part II - Investing in Stocks & Bonds...
My Favorite Blog Posts from March 2026
Now that my updated list of physician FI bloggers is complete, I...
The Pink Tax
I had a conversation with one of my coworkers recently about getting our hair done. I had just...
Article 4: A Real-Life Framework for Net Worth and Cash Flow
This is the last article in my series about cash flow and net worth. In the first article, I...
My Favorite Blog Posts January 2026
Now that my updated list of physician FI bloggersis complete, I will start highlighting my...
Article 3: Net Worth Will Always Matter
Welcome back to my series on cash flow vs. net worth. If you missed the first two articles, you...
Favorite Podcasts of January 2026
Life has certainly been “life-ing” lately. I decided to start training for a half-marathon, which...
Article 2: Cash Flow
Welcome back to this series. I’m writing about cash flow and net worth. Article 1 was two weeks...
Financial Lessons from the NFL’s Odell Beckham, Jr.
There has been a lot of hubbub lately about a statement made by...
Article 1: I’m Growing Up, Financially
Series: Cash Flow vs. Net Worth I started my personal finance journey about five years ago, when...
Goal Setting, 2026 Style
“The time has come for everyone to clean up their own backyard, before they go knocking on their...
Goals 2026
There is something powerful about formally writing down your goals and then checking in on them...
Favorite Podcasts of December 2025
Happy New Year to everyone reading. The Holidays are such a fun time, but also can be very busy,...
My Obligatory End-of-the-Year Article
‘Twas 12 nights before Christmas and all through the house, not a creature was...
My Favorite Blog Posts December 2025
Now that my updated list of physician FI bloggers is complete, I will start highlighting my...
2025 End of Year Highlights
Christmas is officially over, and although I’ve never experienced it personally, this week always...
Are Luxury Hotels Worth the Cost
I have had several occasions in 2025 to stay in luxury hotels, which...
Is Anyone Else Rooting for the Stock Market to Crash
The US stock market is flying high, with the S&P 500 index up over 16% YTD after rising over...
Favorite Podcasts of November 2025
If anyone is reading this, hopefully you’re also following Dr. Slater’s favorite blog posts each...
How To Spend Your First $100k as a PA
I was grading a physical exam OSCE at the local PA school a few weeks ago and overheard some...
Favorite Posts Nov 2025
Now that my updated list of physician FI bloggers is complete, I will start...
Putting My Money Where My Charity Mouth Is
I’ve always wanted to become successful enough to give away large sums of...
The Two-Step Path to Wealth: Earn More, Then Own More
Side gig culture is everywhere right now. Every time I scroll, I’m hit with videos promising that...
The Arduous Odyssey of Accurately Comparing My Dividend Stock Returns to VTI
As I mentioned in My Favorite Blog Posts September 2025, I first began...
Quit My Job, and I’m Not Looking for Another One
A couple of months ago, I wrote about quitting my job and why I'm not opening a medical...
How To Calculate Investment Returns
How are your investments doing? Most investors have a vague notion...
Going Home Again
As I was flying home from Chicago with my family a few days ago, I...
6 Month Update on the Laundromat
Remember a few months ago when I said I signed my life away for the next five years? If you didn’t...
Thoughts After Oktoberfest
I turned 50 a few months ago. To celebrate, I planned a 10-day...
My Favorite Blog Posts September 2025
Now that my updated list of physician FI bloggers is complete, I...
Confessions of a Money Sinner (and the Virtues That Saved Me)
Dr. Slater wrote an article a few months ago about the Seven Deadly Sins of Money. Reading it, I...
Asset Allocation Update Sept. 2025
The S&P 500 is up nearly 11% over the past three months and just...
Medical Residents – 5 Hours to Change Your Financial Life
During this time of the year, doctors only half-jokingly warn their family and friends to stay...
List of Physician Finance Blogs
The Problem I'm always on the lookout for new personal finance blogs to read. ...
How to Start with Bad or No Credit
Welcome to part 2 in my credit series. In part 1, I broke down what credit actually is and how it...
Fun Financial Lessons from My Trip to Japan
Summer is almost over, which means I'll soon be heading back to Texas. After 2 months at our...
What A Financial Advisor Does and Why You Probably Don’t Need One
I paid a $60 copay at a recent dermatology appointment, and the...
Every Dollar Needs a Job
I'm always surprised by how many high-earning professionals don't know how to budget or have any...
Mid-Year Check-In- How My 2025 Goals Are Going
Summer is in full swing. Fireworks are over, the triple-digit heat has arrived, and Texas...
Why Everyone Is Wrong About The 4% Rule
One of the fundamental questions in personal finance is,...
A Lighthearted Look At 50
My 50th birthday was a few days ago, and I feel like I ought to have some feelings about...
Never Pay AUM Fees: How Financial Advisors Are Compensated
One of my attendings in residency used to love to tell the story of...
Moonlighting in Residency
During the last two years of my residency, I made over six figures...
How We’re Teaching Our Kids About Money
Talking about money has always...
Should You Worry About the Recent Stock Market Drop?
This was not the article I planned to release today, but with the recent...
I Have Millions of Dollars of Debt!
Disclaimer: My wife does not want me to reveal our net worth online,...
Why I’m Not Upgrading My Car Even Though I Can Afford It
Recently, we went on vacation to the mountains with our kids. We also paid for my parents to...
A Financial Analysis of Sending Your Children to Private School
Is Private School the Best Way to Set Kids Up for Financial Success? What if I gave you a choice:...
When is the Optimal Time to Make a DAF Donation?
I recently received this comment from a reader about the timing of gifts to a Donor Advised...
The Opportunity Cost of Time
Reflection Growing up, we have very little concept of time. To be truthful, I had no real sense of...
The Seven Deadly Sins of Money
The Church of FI The FI community can be thought of as a religion of sorts. We have a few...
Personal Financial Statement
Introduction I just completed my annual personal financial statement. The bank that holds the...
What Monopoly Can Teach You About Personal Finance
My children are home from school on what passes as a snow day in Texas. I'm not sure we would...
Trend Follower
For as long as I can remember, I’ve been independent – something I credit to being the youngest of...
A Grandmother’s Final Gift
My kids saw me writing a blog post today that contained a historical chart of S&P 500...
My Goals for 2025
After the corks have been popped and the champagne drunk, after Auld...
2024 End of Year Highlights
2024 is coming to a close, and honestly, I haven’t been looking forward to writing this year’s...
2024 End of Year Highlights
December is a hectic time for everyone. There are the typical holiday preparations;...
Season of Gratitude
Unashamedly, I must admit that the holiday season is my favorite time of year. My house has been...
When to Knowingly Make a Financial Mistake
There is a saying that ER doctors get paid to make decisions. Our choices can have grave...
How to Invest in Real Estate with a Busy Schedule
As medical professionals, your greatest advantage in real estate investing can also...
Blog Post Updates October 2024
Since we recently celebrated our blog's first anniversary, I decided it was time to provide some...
Do it For FI
There is nothing quite like an August day in West Texas. It's not the kind of day where you...
Lesson Two: Three General Principles
Welcome to Business Is the Best Medicine’s Personal Finance for Medical Professionals, Part...
Lesson One: Why Learn About Personal Finance?
Personal Finance for Medical Professionals Part I Welcome to Personal Finance for Medical...
The Paradox of Money
I just finished The Sympathizer by Viet Thanh Nguyen. A friend referenced the book, and so I...
Lessons from Japan’s 34 Years of “Zero” Stock Market Returns
If you follow financial news, perhaps you noticed that the Japanese stock market has recently...
Lottery Lessons
I was recently at the supermarket with my wife when an announcement came...
The Realities of Using Your Vacation Home as a Rental
Whether it's a ski-in, ski-out chalet in the mountains, or a humble cabin...
Our Vacation Home: Dream Come True or Financial Nightmare?
When stressed at work in the ER, I close my eyes and try to imagine the beach. I feel the clash...
15 Money Mistakes That Have Cost Me Millions
We all make mistakes. Unfortunately, mine have cost me millions of dollars. I’ve made...
New Guest Post: The Myth of the Tax Write-Off
An ER Doctor’s Response to the Financial Samurai’s ER Saga
Healthcare professionals often live in an echo chamber of...
My First Guest Post
Every time I have a difficult shift, one of those days that only someone who works in an ER...
Will I Die with Zero?
I recently completed the book Die With Zero by Bill Perkins. A friend read it and...
My Asset Allocation
I recently had to fill out an annual net worth statement for a bank...
Book Review: Die With Zero by Bill Perkins
The proverb “All work and no play makes Jack a dull boy” warned generations to take time to enjoy...
The Financial Realities of My First Rental Real Estate Property
I told the story of my first real estate transaction...
My First Real Estate Transaction
I bought my first house on October 29, 2007. I tentatively...
What is the Financial Break-even Point Between an MD and a PA? Part 3: Mid-Career & The Path to Retirement
It has been 17 ½ years since we first met twins John & Jane on...
What is the Financial Break-Even Point Between an MD and a PA? Part 2: Early Career
Introduction This is Part 2 of our examination of the financial journey of John & Jane Doe,...
What is the Financial Break-even Point Between an MD and a PA? Part 1
Introduction: Part 1: College through Professional School I have...