Facebook is set to launch its own crypto-currency next year, the BBC reported this week. (The article referred to the new currency as ‘GlobalCoin’ … though I much prefer ‘Zuckbucks’.) So, will this be yet another crazy crypto coin? Not a chance! My bet is that ‘Zuckbucks’ will be as boring as your Aunt Betty’s…
Lessons to Learn From Rich Dad, Poor Dad
The online personal finance community can be pretty critical of Robert Kiyosaki and his Rich Dad, Poor Dad book series. I’ve been critical myself. Employees who invest primarily in static asset allocations of low-cost, broadly diversified index mutual funds tend to be especially critical while entrepreneurs and real estate investors tend to be less critical….
Proof is in the Pudding: Live Like a Resident
[Editor’s Note: Here’s a re-published post from WCI Network partner, The Physician Philosopher and is about the advice I gave back in 2011 for young docs to “live like a resident” for their first few years after residency. Enjoy TPP’s fresh reminder on the principle!] Chances are that if you are reading this blog, you…
10 Reasons People Regret Buying Whole Life Insurance
Cash value life insurance, such as whole life insurance, universal life insurance, and variable life insurance are products designed to be sold, not bought. They are inappropriate for the vast majority of people on this planet, including physicians. Gold Level Scholarship Sponsor Among physicians that actually purchase the product, 3/4 of them regret their decision. Even…
Designing Your Portfolio Pt1: Define Your Investing Goals
[Editor’s Note: In this Tuesday Classic we revisit our Designing Your Portfolio series. While it was written 8 years ago, the need for this information is just as great today. This first installment in the series is about designing an effective portfolio by first defining your investing goals. It’s critical to get this step right…
How the 199A Deduction Impacts 401k Decisions and Tax Rates
[Editor’s Note: The following guest post was submitted by Timothy Schmidt, DMD. Throughout Tim’s career, he’s worked various employment situations — as a W2 employee, a 1099 contractor, and is currently an owner/partner in a dental practice. We have no financial relationship. The 199A deduction has affected many of our financial lives in a big…