Save for Yourself Before Your Kids | PPhREI Network Roundup | 11-3-2023

by The Darwinian Doctor

In this PPhREI Network roundup post, we discuss why doctors should save for themselves before saving for their kids, the concept of golden handcuffs, and video doorbell technology.

Carpe Diem MD

In this post, Dr. Cook dissects the various pros and cons of two of the most popular video doorbell systems: Ring and Nest. These devices are really useful for short term rentals, but I’ve had my own primary home equipped with them for most of the last decade.

I’ve used both technologies and I’m a bit more partial to the Ring hardware when it comes to the video doorbells. However, I have to say that Google has a hold on my family via their whole-house ecosystem. So I use Ring hardware in my short term rentals and Google hardware in my primary home.

Read the post to make your own decisions: Ring vs Nest for your Short-Term Rental Property (Airbnb/VRBO)

The Darwinian Doctor

In this post, I talk about the phenomenon of “golden handcuffs.” It’s a good example of a “first world problem.” But for those who are suffering under their weight, it’s a problem nonetheless.

Golden handcuffs refer to a situation where a high income earner would like to cut back or even quit their job, but can’t due to reliance on the high income. They feel shackled to their job.

This imprisonment be financial, due to having high fixed expenses, or it might be a psychological imprisonment due to a financial scarcity mindset. I personally suffered from both of these.

If you want to learn more, read the original post: Physicians are trapped by golden handcuffs

The Prudent Plastic Surgeon

In this post, Dr. Frey talks about six reasons why doctors should save money for themselves before for their kids. It seems controversial, but I think you’ll find yourself nodding your head after you read his well reasoned arguments.

Read the entire post here: 6 Reasons Doctors Should Save and Invest for Yourself Before Your Kids

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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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