Journal Club 12-15-23

Here's Journal Club 12-15-23! Every week, I hold a JOURNAL CLUB. After filtering through the articles on the web, I present a few that impacted my life this week. Be safe and stay well!

• Are you familiar with “Income Investing?” It's a financial strategy that involves selecting assets designed to generate a consistent and reliable income in contrast to growth investing, which seeks appreciation and long-term sustainability. The idea behind this concept is to build a portfolio that can financially support individuals and contribute to a comfortable retirement. Curious to learn what are some of the income investing instruments that you could utilize? The Physician on FIRE shares more about it in the article – Income Investing: The Smart Way To Reach Financial Independence.

• More often than not, the long and demanding journey to becoming a physician leaves very little room for personal finance education. This knowledge gap can create financial stress that affects physicians just like anyone else, making it crucial to thoroughly understand wealth management and its long-term consequences. To highlight the importance of financial planning for physicians and retirees, the Financial Success MD shares key pointers in the post – How to Successfully Plan for Retirement Income and Taxes.

• Most of us are familiar with Dave Ramsey's “Baby Steps” book. The book highlights the importance of changing one's beliefs to attain a millionaire status by taking control of one's life based on the structured seven-fold method outlined in the book. On that note, the author of Five Year FIRE Escape takes it a step further and shares the seven-step method from their perspective in the article – I Read Dave Ramsey Baby Steps Millionaires. Here Are The 7 Things You Need To Do.

• Pursuing Slow FI focuses on aligning your journey to financial freedom with your career, life goals, and personal values. The intention behind this approach is to create an alternative path to the traditional grind towards early retirement. This shift in perspective stresses the importance of enjoying life while working and crafting a work-life balance that aligns with your unique desires and circumstances. To that end, The Fioneers share about a Slow FI lifestyle that emphasizes setting boundaries to create more room for personal passion and experimentation in the post – Make Work WORK for You.

Read any interesting articles? We'd love it if you could please take a moment to share them in the comments below!

Thank you for reading and sharing,

Peter