Finance – Page 14 – Physician In Numbers

Wednesday Wool-gathering

Several random thoughts on the week past.

Monday Melange: Fun Vs Money

I have been reading personal finance blogs for a while. I love the breadth of subjects: frugality, meal planning, travel ~~hacking~~ planning, geeky number posts comparing traditional and Roth IRAs.

One of my issues is that they all, every one of them (it seems), glorifies the side hustle.

You know, the other job, the one you do after your regular one is done. It doesn’t pay as much, yet, but helps you diversify your income sources.

Even doctors are supposed to have a side hustle, I hear.

This weekend I spent a little time going through our expenses for last year, after having calculated our net worth for January 1. I’m not planning to reveal all our numbers here–Mr. Physician in Numbers (despite his suggesting the blog name) doesn’t want our numbers revealed on the Internet. But I will say, overall, we did pretty well in 2019.

We spent a little less than the year before, almost entirely due to reducing spending on travel. Our net worth went up ridiculously, almost entirely due to the stock market, over whose performance I have absolutely no control.

My New Year’s financial tasks completed, it seems fitting that I formulate some goals for 2020.

Happy 2020!

I hope this is the beginning of an excellent year for you. And for me too, frankly.

Today is going to be a social day, and I plan to enjoy it before I go back to the regular work schedule tomorrow.

However, there are a few financial tasks I do every year around this time, which I still haven’t quite finished. I think they are pretty helpful, and would recommend them to anyone.

2019 In Review

This is the time of year when people make resolutions for the next year. Usually there is talk of losing weight, saving more, getting ahead.

Before I consider resolutions (or plans) for 2020, I would like to look back at 2019, and think about accomplishments I can point to with pride. I find it is healthier for me to concentrate periodically on things that have gone well, rather than always pointing out what needs to improve.

An End Of Year Financial To Do List

There are just over 2 weeks before the end of 2019, and I’m feeling the pressure to finish off time sensitive tasks. Last month I went through the list I was worried about. I think it’s time to review what’s been done and what is left to do.

On Giving, Part 2

Giving Tuesday has come and gone, but that doesn’t have to mean the end of giving to charity. In fact, I hope it doesn’t. Many charities don’t push Giving Tuesday, or set up different fund raising drives. There are many opportunities and ways to give.

I have read a number of posts in the past several years about the benefits of the donor advised fund, and I think they sound pretty nifty. However, I have not yet set up one myself.

But I have set up charitable giving a different way. One that I don’t see written about much in personal finance blogs, but which I think may be a good option for employed physicians. Or anyone who works for a large organization.

On Giving, Part 1

Thanksgiving has come and gone. I had a great time with family. I hope you did too.

These days, Thanksgiving is followed by Black Friday (I missed out on spending money this year, as I usually do), then Cyber Monday (I might buy things today). All of these special days are geared to part us from our money in the name of consumerism. Or, as the advertisers say, making the holidays special.

Happily, there is also a push towards charitable giving, with Giving Tuesday featured (December 3 this year).

Today I wanted to review some of the blog posts on giving that have affected me most in the past few years.

Investing Step 1, Bonds

A few weeks ago I started thinking about how to discuss investing with residents, as I have been half-invited to talk with them about financial topics.

I had planned to talk about investing, but realized there were a number of steps a person should go through first before committing money : first, making sure the investor actually has some money they can invest, and then explaining why risking their money in investments beats hiding cash under their mattress.

I have been putting off the discussion of investing–mostly talking about stocks and bonds–because the more I think about them, the more complicated they feel.

Last week I tackled an introduction to stocks, and this week I am attempting to tackle bonds.

Investing Step 1, Stocks