FPMD Thoughts on the Cryptocurrency Craze

FPMD Thoughts on the Cryptocurrency Craze

I'm going to preface this post by saying - "I'm no expert in neither cryptography nor currency." But given the recent media hype and the increasing number of people who seek me out specifically to talk about Bitcoin and other cryptocurrencies, I thought I would share my random thoughts on the cryptocurrency craze.

Read More

Net Worth Update (December 2017)

Net Worth Update (December 2017)

My apologies for the delay in posting over the holidays. Welcome to the December 2017 edition of the FPMD Net Worth Update - a quarterly post where I put my money where my mouth is and tell you all about how I manage my finances.  Over time, it has become the most popular series on FPMD.  I talk the talk, but do I walk the walk?  You be the judge.  Here is what I've been up to for the last 3 months.

Read More

Future Proof Shares - Happy 2018 Edition!

Future Proof Shares - Happy 2018 Edition!

Happy New Year!!! Welcome to the first edition of the Future Proof Shares for 2018. The biggest financial news last week, and possibly the entire 2017, has to be the passage of the new Republican tax bill. And it is a BIG deal. I've tried to explain its implications for medical trainees. But what if you're an attending physician? Here are some articles worth reading:

Read More

GUEST POST: 3 Ways Financial Advisors Get Paid

GUEST POST: 3 Ways Financial Advisors Get Paid

[FPMD: The following guest post is authored by Dave Denniston of Capital Advisory Group Advisory Services LLC. We have no financial relationship.]

I get this question a lot - "How do financial advisors get paid?"

If you want to work with a financial professional, it may be beneficial to know how they get paid. It can be an awkward question to bring up when you're trying to decide whether or not to jump into a relationship that may last a lifetime, which is why I'm telling you this now...

Read More

2017 Tax Reform - Implications for Medical Trainees

2017 Tax Reform - Implications for Medical Trainees

By now you've heard that the Republican tax bill - titled "Tax Cuts and Jobs Act of 2017" - has passed both chambers of the US Congress and is on its way to be signed by President Trump. There are many current debates on the issue with strong voices in both the pro and the against camps. I will try my best to stay out of the political quicksand. Instead, I want to take a look at the most important provisions of the new tax bill and how that will affect your tax bill starting in 2018.

Read More

5% Credit Card Cashback Rotating Categories: January - March 2018

5% Credit Card Cashback Rotating Categories: January - March 2018

Many credit cards offer you cashback on your purchases.  Almost all cashback cards now offer you at least 1% cashback on all your purchases, only a few offers as much as 5%.  The catch is that the categories rotate every quarter and you have to opt in online.  Below are the 5% rotating categories from January to March of 2018.  Make sure to sign up!

Read More

What's Your White Coat Net Worth?

What's Your White Coat Net Worth?

I track my net worth and shares it openly with FPMD readers every 3 months. Honestly it can be a bit embarrassing. Here I am a grown man in his early thirties, yet my net worth has been stuck solidly in the red for as long as I can remember. The reality is we medical trainees are faced with a very unique set of financial challenges that make the early accumulation of wealth very unlikely. Today I want to remind you to check your "White Coat Net Worth".

Read More

Future Proof Shares - 12/12/17

Future Proof Shares - 12/12/17

We live in an amazing world of constant information, sometimes it can get overwhelming.  "Future Proof Shares" is a weekly series with the goal of selecting 5 interesting pieces of media on money and medicine from around the Interwebs.  They may be old or new but will always be new to me.  This series is inspired by "The Sunday Best" by my fellow physician money blogger Physician on FIRE (PoF).  Enjoy! 

Read More

Splash Financial - Making a Splash in Medical School Debt

Splash Financial - Making a Splash in Medical School Debt

It's been some time since I last wrote about student loan refinancing. One reason is there hasn't been a lot of changes in student loan management strategies. The threats to PSLF by the Trump administration has yet to materialize so I continue to recommend to all medical graduates to strongly consider PSLF to help repay their student debt. Another reason is there hasn't been a lot of changes to the student loan refinancing industry. Many of the names are entrenched - SoFi, CommonBond, Earnest etc. and only one (Laurel Road) specifically targeted medical student loans. Today I want to introduce a newcomer to the medical student loan refi industry - Splash Financial.

Read More