Happy Finance Friday!
Here’s a list of my favorite financial articles this week.
I do a lot of case studies on this site, so I appreciate DMFA’s (Dr. David Michael Frederick Anderson) student loan case studies brought to you by the Physician on Fire. The three cases involve doctors in varying stages of their careers. All are encumbered by significant debt, including one orthopedic surgeon in training with almost half a million in student loans. DMFA provides great advice that you might find useful for your situation. And, you can contact him yourself for a free consult.
This was a podcast for me, though you can read the transcript on the married to doctors blog if you prefer the written word. Lara really opens up about the sacrifices she made in support of her husband’s career and the potential for resentment they could cause. Candid and compelling, I highly recommend you listen to it. I also think it’s relevant to a much wider swath of the population than just the subset of spouses in the medical field.
I love clicking a post where I feel sure what side I’m on but then the analysis and reasoning is such that I come to appreciate the opposite point of view. Rockstar Finance shared a collaborative post from Miked Up Blog and The Cash Dad arguing the merits of debt. I still tend to side with the debt free camp, but Mike gives a pretty reasonable argument for a limited set of “good debt” that can be a tool to leverage your wealth. I’ll throw my hat in with Cash Dad because I agree that you can never have freedom with debt, and I like freedom.
There’s a couple of nice tables that show these four investment portfolios side by side. But I prefer to squint my eyes and see them instead as a single portfolio that is two years old (Scrilla), nine years old (Linus), 12 years old (POF) and 35 years old (Hatton1). As they compare checkboxes around debt, assets, account types, and allocations, you can plug in your own situation. The missing data for me was absolute dollar amounts. Even as an approximation, the value of the accounts might explain why Scrilla is 50% Cash compared to Hatton1’s 3%.
There are some pretty compelling reasons for a dual MD/MBA. Modern medicine is run like a business and a doctor who doesn’t understand administration gives up a lot of control. You’ll be a better communicator and a better doctor, and the additional skill set will make you irreplaceable. Learn more about the subject and about generally being a badass at BeThree.
Happy Finance Friday! If you have a favorite article you’d like to see featured in future lists, feel free to contact me. As always, I appreciate your comments on what I got right, what I got wrong, and everything in between.