IM-PCP – Page 35 – Physician In Numbers

The Best Financial Advice I’ve Gotten From A Book

It’s that time of year, when people seem to be asking more questions about how to manage their money.

I suppose it has to do with the turning of the (academic) year, as medical students graduate, and start earning an income; as residents and fellows graduate and look forward to earning a much larger income; and as new attendings finish their first 1-2 years, and wonder where all their money went.

I thought I would share the best financial advice I’ve ever read, and talk about why I think it makes the biggest impact on someone’s financial health.

Fitness Log #233 And Friday Fabulousness

I have been keeping track of my exercise every Friday for 4 years, and plan to continue doing so.

I started the Friday Firsts sections as a way of keeping track of some of my “firsts” as I dealt with the COVID-19 pandemic. Some weeks I can’t really think of a “first,” so I am trying to note something positive instead.

My Favorite Posts By Other People, April 2023

I read a lot of personal finance blogs every day. Even though many bloggers seem to be slowing down these days, I still read a number of excellent posts last month. Here are some of my favorites.

Fitness Log #232 And Friday Firsts

I have been keeping track of my exercise every Friday for 4 years, and plan to continue doing so.

I started the Friday Firsts sections as a way of keeping track of some of my “firsts” as I dealt with the COVID-19 pandemic. Things seem to be settling down, but I will keep it for now–more as a way to be aware and thankful of what is happening in my life.

Why I Update My Net Worth Every Year

Every year, at the end of the year, I calculate my (liquid) net worth, and review my spending for the year that is finishing up.

I have done this for over two decades, and have come to realize that I don’t do this (only) for the pleasure of seeing an ever-increasing number. Especially for 2022.

There are a few other valuable aspects of this exercise, which have benefited my finances greatly over the years.

I will review my annual spending in another post, but in this one, I will go over my net worth update, and offer some thoughts about why you too might benefit from such a practice.

Fitness Log #231 And Friday Firsts

I have been keeping track of my exercise every Friday for 4 years, and plan to continue doing so.

Fitness Log #230, Some Fabulousness, And My Monthly Goals Check-In

I have been keeping track of my exercise every Friday for 4 years, and plan to continue doing so.

My Future Me posts have been postponed well past 3-4 months a few times in the recent past, enough that I forgot about some of my goals that I was (supposedly) working on. We will see if a monthly check-in might help me stay focused.

Chasing The First Social Security Bendpoint

A few weeks ago, Mr. PiN surprised me. He announced that he wanted to earn some more money, in order to boost his Social Security paycheck.

I had brought this up a few years ago, when I first read this post from Physician on Fire about the Social Security bend points.

My takeaway at the time was that, for people with a lower earnings history, Social Security is set up to replace more of the income. Because the benefit is calculated on lifetime earnings, if you were in the workforce long enough to qualify for benefits, but didn’t earn tons, you can get a pretty good return on your efforts if you work and earn a bit more.

Fitness Log #229

I have been keeping track of my exercise every Friday for 4 years, and plan to continue doing so.

Money Isn’t The Most Important Thing

I enjoy reading a number of blog posts every day, and like to highlight some of my favorites in a (mostly) monthly post. However, life got busy in December, and I fell behind. Below are some of the posts that resonated most with me over the past five (!) months. Considering all of the upheaval in my personal life, I am not surprised to see that only a few are purely about money.