Journal Club 9-19-19
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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!
- Sure. You want financial independence. Most everyone does. To get away from the “paycheck-dependence” (as Physician on FIRE mentions), you need to acknowledge that the decisions you make now depend on these 5 things.
- What's Financial IQ? What if we're looking at it from the perspective of, let's say… a 12-year-old? Wealthy Mom MD, Dr. Bonnie Koo, sheds light on the financial insights of her stepson after reading Rich Dad, Poor Dad.
- When it comes to your time, what situations would you exchange for money? Would you cook more or hire a cook? Would you ride a bike to work instead of firing up your car? Smart Money MD says that responsible financial practices are only reached when you avoid extravagant spending.
- An extra-nerdy finance post by Paula Pant? Yes. According to Paula, if you're retiring on index funds, you might plan your retirement on the 4 percent withdrawal rule. But when it comes to rental properties there is a different percentage equivalent. Know what it is?
- Doctors work hard at perfection based on the low margin of error required by our careers. What happens when you put them in a financial setting? Wealthy Doc says they make a bunch of “dumb” money mistakes. This is his list of 12.
- Oh, college. Why thou rise in cost?… With the rising cost of college for our kids, sometimes investing early is our best bet. What's even better is saving for college using a 529. Anjali Jariwala explains.
- You're in the process of vetting property managers. Do you really know what to do, what to say, what to think? Chances are… probably not. In this blog, BiggerPockets drives that point home and more when they lay out these 10 must-ask questions.
- Turnkey real estate investing is a popular way to get your properties “rent ready” by being ready to rent. ChooseFI shares a bit about what this means along with a few other pointers to note in this podcast episode.
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.