Journal Club 6-5-20
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Here's Journal Club 6-5-20! 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!
- On his blog, The Physician Philosopher confesses that he HATES budgeting. Traditional budgeting, line-by-line budgeting, zero-dollar budgeting, you name it. Even still, he and his family have been able to pay off $300,000 in debt and increase their net worth by $500,000 in two years. How is that possible? Well, they used a cash flow plan. So, learn more about it and see if a cash flow plan could work for you, too, especially if you also hate budgeting!
- Lately, during this pandemic, many have begun to think about adopting a side hustle, or taking on a more “non-conventional” form of bringing in income to pay the bills. Millennial Money Man gets asked, “Is blogging a good side hustle?” all the time, and so do I. Well, the reality is, it depends. He does a great job of explaining why. Take a look!
- These days, we live in an extra-strange world. Because of this, our finances may look a bit different than normal. On the Afford Anything Podcast, host Paula Pant had on Dr. Dan Ariely. He's a famed behavioral economist, and he's not a fan of checking accounts. In fact, he's not a fan of checking anything that distracts us from our financial goals. In this episode, he explains why.
- Semi-Retired MD believes that real estate is the best investment vehicle for wealth building. Additionally, there are some unique benefits to investing in real estate as opposed to other methods, such as stock markets or a start-up business, of reaching your financial goals. In fact, Kenji and Leti feel so confident about the benefits of real estate and cashflowing rentals, that they've shared not one, not two, but seven reasons why they think this is the case on their podcast, Rich Doc Poor Doc.
In the end, I hope Journal Club 6-5-20 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.