Journal Club 12-12-19

Every other week, I hold a JOURNAL CLUB. After manually filtering through the millions of articles out there on the web, I present a few that impacted my life this month.

Before I get to it though, I wanted to let people quickly know that my friends at Semi-Retired MD are about to open up enrollment for their awesome course, Zero To Freedom Through Cashflowing Rentals, for a limited time again!

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Here’s our Journal Club for the week, enjoy!

• Who's heard of the expression, “short-term sacrifice, long-term gain?” Probably most of us physicians, right? While our best efforts to delay gratification in med school might not apply to our finances today, we should probably change that. White Coat Investor shares his experience of waiting to buy certain things in order to put his best financial foot forward.

• We will all be millionaires at some point in our lives (if we aren't already), but being able to sustain that wealth isn't always guaranteed. Michael Quan of Financially ALRT says if you do this, you'll find that balance was always key.

• If you have kids, you know how expensive they can become. Is it fair? Eh–sure. We decided to have them, after all. But, maybe just maybe we might be sacrificing a little too much when it comes to spending on the things we want. Chief Mom Officer says this was a realization she made and is happy to explain why to other parents who are feeling the pressure.

• Frugality is a term we're hearing more about in the physician blogging space, often referencing the need to save in order to afford the luxuries we really want. So, when we hear about buying a car, depending on whether it's new or new to you, it may or may not qualify. Pediatrician Finds FI shares a recent personal experience that had them re-evaluating their financial priorities under the same guise.

• Fear affects most of us (OK, all of us). When it comes to facing it to overcome insecurities, life difficulties, and unexpected pivots, we realize how small fear actually is. Dr. Jennifer Caudel, on Docs Outside the Box, shapes this perspective for us in this fun, 5-minute Friday.

• Life in the fast lane? Or shall we mention Fast FIRE? Semi-Retired MD knows all about this pursuit of financial freedom and they do so through investing in cash-flowing rentals. Doctors Unbound Host, Dr. David Draghinas, takes us on this inspiring interview with both Kenji and Leti in his December Reminince and Remember episode.

• While we head into a new year, we're more than likely thinking about goals. For some of us, one of our goals could be how to maximize our time around the things that matter. In this podcast episode on the Afford Anything Podcast, Paula Pant and her guest talk about “action-packed time management strategies” and more.

A little bit of motivation below. Enjoy and have a great weekend!