Journal Club 5-30-19

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.

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

• The conundrum of having two households with two doctors is that it's disproportionate. Smart Money MD poses that our tax system tends to be more forgiving when each member of a dual-income household has a similar income and “punishes” the spouse at the lower end of the salary stick. 

• Student loan debt has been a reason many physicians pursue passive income. That's why it's important to understand how it affects your bottom line. This 7,500-word definitive guide to medical school debt by Financial Residency is a good place to start.

• What do you think? Is it better to be an employee, an independent contractor, or both? Side Hustle Scrubs shares what it means salary-wise, tax-wise, and getting the “best of both worlds-wise” when you're classified as both.

• In this blog by 1500 Days, we learn of the author's hilarious and unexpected pursuit of FIRE. He shares what FIREy fitness, frugality, and (plainly) FIRE have in common. Oh, and be sure to pay attention to the neat drawings.

• When it comes to your kids, you want to get things right. So when it comes down to securing their financial future, pursuing a Roth sounds like a great idea. We learn how starting your children's Roth gives them a head start to building their financial security in this blog by Semi-Retired MD.

• The cost of negative people is real. Doc G of Diverse FI lists exactly what those costs are. He points out that these people bring negativity into your life and the cost can be great.

• I am an avid believer that we all should hire help to scale our ability to do more. I've written a couple of blogs about bringing in a VA and why. REtipster talks about expectations vs. reality in this podcast episode.

• Burnout is NOT a thing of the past nor an implication of being a weak physician. It's here. It's real. And, it's certainly a reason why we should be talking about it. White Coat Investor and The Physician Philosopher discuss our ability to trade time for money at a very high exchange rate as your biggest asset in this episode by WCI.

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