10 Steps to Financial Independence | PPhREI Network Roundup | 11-25-2023

by The Darwinian Doctor

Today’s roundup is all about financial independence. Dr. Frey gives us 10 steps to financial freedom for young doctors and Dr. Shin breaks it down even further to just two options!

This post may contain affiliate links.

The Prudent Plastic Surgeon

In this post, Dr. Frey gets specific with advice for young attending physicians. It’s a big transition to being a professional earning real doctor money from a penniless resident, but it’s also one of the most critical periods for wealth building. It’s where the road diverges: from those doctors who focus on expanding their lifestyle or the doctors who focus on building wealth.

When I made the transition, I admit I did expand my lifestyle too much. But I got on the right path eventually. Better late than never!

Read the whole post to learn how to become part of the latter group: 10 Steps to Financial Freedom for Young Attending Physicians

The Darwinian Doctor

In this post, I break down the concept of financial independence into two simple options: the 4% rule or the business cash flow option. While Dr. Frey’s article will help you get to the point to start making this decision, at some point each of us will need to choose a vehicle to get to financial independence. Do you want to just stuff money into the stock market and rely on the 4% rule? Or do you want to build a cash flowing business like a real estate portfolio and perhaps get to financial independence even faster?

It’s certainly the path of least resistance to go the stock market route. However, you might be able to shave years off of your wealth building journey if you go the business route.

Read to article to help make this decision! The 2 Ways to Reach Financial Independence [Finance 101]

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A Darwinian Disclaimer

Since everyone is different, it may not be appropriate to generalize my doctorly advice to your own situation. Please run all medical, life, and financial advice by your own physician or financial professionals before applying it to your own life! Consider all information for your entertainment only!

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