personal finances Posted on

How to Invest in Bonds, When You Cannot Invest in Bonds.

(Editor’s note: This is a huge disclaimer.  I am not of the Islamic faith, but I have dug into the issue of Islam and investing because of some questions I had at a medical school finance lecture.  Thank you to the medical school students who asked the question bonds and Islam, because I learned a lot through the process of tracking down the answer.  What follows is my understanding of the Islamic faith and investing after talking with some Muslim attending physicians and doing some deep work on the web.) Background on Stocks and Bonds Stocks and bonds.  They seem […] Read More

Rest, sleep Posted on

Hack Your Sleep in 3 Easy Steps

Medical school and residency training have a long tradition of putting physicians through sleep deprivation.  We even pride ourselves on how long we have gone without sleep through our studies and our nights on call. We also know that sleep deprivation can have its consequences.  These consequences put both us and our patients at risk.  Sleep deprivation affects our reaction time and makes it equivalent to alcohol intoxication. Even with the work duty hours being monitored for residents you still may have times that you do not get the rest you want or need.  (Sorry med students, there are no work […] Read More

moonlighting, side hustle Posted on

5 Things I Learned from Resident Moonlighting

Before there was the physician side hustle, there was moonlighting.   Resident moonlighting is a polarizing subject.  Residents see moonlighting as a great way to make some extra money.   Residency programs view moonlighting as a potential distraction at best and a potential 80-hour workweek at worst.  The amount of resistance I received from program directors when I conducted my moonlighting and debt survey was surprising.    My Experience with Resident Moonlighting Why I did moonlighting as a resident I moonlighted during my senior year in residency.  My wife and I were DINKs (Double Income, No Kids) so our lifestyle and spending […] Read More

home life, personal finances Posted on

5 Milestones of Physician Retirement

I think about physician finances … a lot.  I listen to multiple pod coasts, read financial books, and talk with people to learn new things. This exposes me to different points of view.  One popular area that people love to focus on is retirement.  Milestones of Physician Retirement Many physicians grind through their training, get out to a career as a physician, and retire at age 65.  Physician retirement seems to be completely binary; you are either working or retired.  One way to think of physician retirement is through five milestones.  Some physicians will stumble these milestones and make it […] Read More

side hustle Posted on

5 Things You Need to Know About Physician Side Hustles

One of the topics we will explore on PLM is the physician side hustle.  Physician side hustles have been around since residents have been trying to scrape by to pay their bills.  Side hustles for the general population have become more popular in mainstream media as a way to build freedom.  Let’s dive into an uber brief side hustle history and then talk about physicians and side hustles. Side Hustles – A Uber Brief History Side hustles use to be popular among a small group of people.  (Usually, it was entrepreneurs who were running multiple businesses.)  It was a way […] Read More

home life, personal finances Posted on

Get Your Finances Organized for the New Year

      You can money do four things with money – Save It, Invest It, Spend It, or Give It away.       The problem with most of our finances is that we don’t have a real plan on how to manage our finances. We Stumble Into Our Finances  We add a checking account here, and then a savings accounts there.  We might have some loans from undergraduate school or medical school.  You might have a retirement account leftover from another job or the one from residency.  Before you know it, you have a smattering of accounts, assets, and liabilities that just […] Read More