The Luck Factor | PPhREI Network Update | 3-30-2023

by The Darwinian Doctor

In this PPhREI network roundup, we talk about the role of luck in money and life, get some book recommendations, and learn the stealth wealth strategy of principal paydown.

This post may contain affiliate links.

Carpe Diem MD

In this post, Dr. Cook gives us a glimpse into the inspiring audiobooks and podcasts that sustained him through years of brutal SoCal traffic. He was quite partial to real estate podcasts like Biggerpockets, Tony Robbins, and Robert Kiyosaki. No wonder he ended up as a rental real estate specialist!

Take a look at his recommendations on the Carpe Diem MD blog: Mind Expanding Podcasts and Audible Books

If you’re looking for my personal book recommendations, check out my growing list here: The Darwinian Doctor Book Recommendations

The Darwinian Doctor

In this post, I explored the surprisingly powerful way capital paydown can add to your wealth over time. This is a natural side effect of making monthly payments on fixed rate mortgages. I talk about the concept of interest vs. principal, and then apply this to my own portfolio to add some much needed specifics.

Read the post on the Darwinian Doctor blog: The Stealth Wealth Strategy of Principal Paydown

The Prudent Plastic Surgeon

In our final offering, Jordan Frey, MD brings up a very important point: there’s a lot of luck involved in financial success. If I had started investing in real estate with a full doctor’s salary in 2010, for example, I’d be much farther along financially. But if I was just getting started with real estate investment just before 2008, I’d probably be a devout index funds only investor with a smoldering hate for real estate!

There’s a lot of things in life and investing that are indeed just luck, and Dr. Frey investigates this phenomenon in this post. What are his recommendations to minimize the randomness of luck?

Read the original post on the Prudent Plastic Surgeon blog: Examining the Role of Luck in Personal Finance

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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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