Learning from and avoiding the mistakes of others can speed you along your way to achieving your financial goals. Make sure you help your colleagues and trainees by sharing your mistakes with them.
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ACEP Now: Vol 37 – No 10 – October 2018Pages: 1 2 | Single Page
4 Responses to “The 10 Biggest Financial Mistakes Doctors Make”
October 21, 2018
Jerome MersbergerThe Fees on Mutual funds will eat you alive
Look up Ray Dalo on you tube its free He runs Bridgewater a 160 Billion dollar hedge fund
Listen to the audio version of Money Master the game, or read the book by Tony Robbins. He interviews people like Carll Ican, Warren Buffet, Ray Dalo and Charles Schwab.
Warren Buffet I believe has it set up that 90 % of what he leaves his wife go Ito a low fee Vanguard S&P 500 and 10 % into short term CD’s
Mutual funds make money even when you lose money
November 2, 2018
Fred RGreat points. #5 is my personal weakness.
Good point about financial advisers. Expensive doesn’t always mean that is good or better.
November 14, 2018
Bhagwan SatianiAgree with most advice. Problem remains that young people out of residency have pent up demands and pile on debt or do not save. Also mature physicians sometimes follow the herd when market bubbles occur trying to copy friends who boast of 25% returns in a month! I have taught Practice management to our surgery residents for 14 years, share chapters of my 3 volume set written for MGMA (The Smarter Physician) and hammer this home and give them informal advice on their contracts. We need to keep emphasizing these points every chance we get. Good work.
November 28, 2018
Max MadlyWonderful advice that I wish I had when I was a resident. ‘
I will pass this on to the residents I teach.
This information is just as important as the medical knowledge doctors learn to treat patients.