Here's Journal Club 10/09/20! 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!
- Have you ever thought of comparing your finances to the human lifecycle? I sure haven’t, but this article from XRAYVSN presents a very unique take on the financial journey. By comparing financial “stages” to the phases of our life (infant, young adult, middle-age, etc), he makes a compelling case for assessing where you are and where you want to be.
- In this article, The Physician Philosopher describes something called the “arrival fallacy.” It’s a common thought, really: “when I achieve [insert distant goal], I’ll finally be satisfied.” For physicians, the author says, we place contentment in the future–whether it be a residency, career advancement, or retirement. By avoiding the arrival fallacy, you can be happier now, and reach those goals sooner than you thought.
- One thing that can truly hinder a person’s journey to financial freedom is having a scarcity mindset. As the Debt Free Doctor describes in this article, we often learn this mindset as children, though even as adults, we’re taught to “live within our means.” This article shows how this can actually be a problem, and how you can teach your children a bit differently. Even if you don’t have kids, this is a great read.
- Can financial success be boiled down to a few simple habits? The Prudent Plastic Surgeon makes a very good argument that yes, it can. In this article, the author describes his own daily habits, and how his life–both financial and personal–has been impacted since he began incorporating them. Even if you have a routine in place, this article is great extra motivation.
That’s it for this week! I hope Journal Club 10/09/20 was helpful to you.
Lastly, here's a little bit of motivation below. Enjoy and have a great weekend!
Disclaimer: The topic presented in this article is provided as general information and for educational purposes. It is not a substitute for professional advice. Accordingly, before taking action, consult with your team of professionals.