Defining your personal savings rate One of the most common questions I hear from physicians is simple: “How much do I actually need to save to retire?” The frustrating answer is usually some version of “it depends.” But that doesn’t help you decide whether your current lifestyle is sustainable or if you need to make changes. In this post, I’ll show you how to think about that question and give you a tool to calculate your own answer. First, some principles Everyone is differe

Your dream house should not become the reason you lose financial freedom. Physicians tend to be detail-oriented and data-driven folks. You have to be if you want to be a great clinician, surgeon, or medical researcher. And, in my experience, that mindset often spills over into their investing style, especially for those who enjoy doing it themselves. Paying attention to those details is important, absolutely. It can save a lot of money over the long run. But it is also s

Of all the alternative investment options marketed to physicians, real estate probably gets the most traction. And I understand why. Doctors tend to have more discretionary income, even after maxing out their 401(k), and the smart ones are looking for ways to leverage that income for their futures, rather than just spending it on a fancier lifestyle. Because of that draw, a whole industry has emerged—physician real estate investing. And with any industry that involves mon