Grand Rounds: 5/31/18
For an audio version of this post, please click on the speaker icon (top left)
Welcome to this session of grand rounds, a collection of posts I have found in the blogosphere that I found of interest and hope you do too.
Burnout is a hot topic amongst physician’s these days as there have been numerous instances of physician suicides in the news. Although this webinar is directed specifically at Radiologists and burnout, there are some important takeaways for any specialty.
Sunk cost fallacy, as described in behavioral economics, is a self detrimental behavior in where prior costs (time or money) influence you to continue to make poor decisions in hopes to recoup that investment (the sunk cost). Not only can you lose your shirt by doing this, you can lose your life. This is a tragic tale of sunk cost fallacy that everyone should listen to on this podcast titled, Summit Fever.
I will admit, prior to reading this post by Wall Street Physician, I thought that just by being in the medical field would give me a slight advantage in investing in this area (causing me to dabble in Healthcare REITs in particular and some individual pharma stocks way in the past). WSP quickly puts that notion to rest in, “Why Doctor’s Don’t Have An Edge In Healthcare Investing.”
Every once in a while a blogger is blessed with a reader who asks an incredibly intelligent question, some might say brilliant in fact. A question so amazing that an entire post could be dedicated to it. Hatton1md was blessed with such a rare event and did that very thing at Doctor of Finance MD in a post titled, appropriately, “Answering a Reader’s Question” (by the way that reader just happens to be the blogger/creator of the site you are currently viewing 🙂 ). Be sure to read the comments as it actually was a great discussion between some big names.
If you ask practitioners of the FIRE philosophy, the largest obstacle they face, and the one that most likely delays their exit from the W2 world is the “healthcare danger zone.” (cue Kenny Loggins soundtrack)
This danger zone starts the moment you declare early retirement and ends when you qualify for Medicare. Until then, you are on your own and subject to exponentially rising insurance premiums and/or possible asset depleting medical care.
Depending on how early you retire, you can spend the better part of a decade or more in “No Man’s Land.”
Well fear not wary readers, you have come to this site for me to act as your guide to the promised land. Tasked with this assignment, I have indeed found a novel way to not have to worry about healthcare at all! The solution you ask? Why, all of you have to do is commit a felony. Your welcome. Retire away.
Hope you enjoyed the reading material.
Have a great rest of the week.
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