Grand Rounds: 6/28/18
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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.
The thrill of the chase.
Are we as humans programmed to always be seeking something that we don’t have?
And what happens when we finally catch the prize?
The incredibly prolific Doc G of DiversiFi addresses that very scenario in his poignant post, “The Once I Have Syndrome.”
I know there are some of you out there that are ultra-conservative and risk averse.
However being too conservative can actually be the riskiest strategy of all for your retirement dollars lasting.
In the post, “Inflation Is Merciless On Your Financial Future,” read how stockpiling money under your mattress may not be the best strategy.
We all want a better life for our children.
However there is a fine line between raising a successful child and an entitled one.
Numerous studies have shown that 70% of generational wealth is lost by the second generation and 90% of familial wealth vanishes by the end of the 3rd generation.
Check out the article, “Why So Many Wealthy Families Lose It All In 3 Generations, and How To Stop It,” and see if you can break this trend.
Along the same lines, “Are You Giving Your Children Too Much Money?” highlights the need as parents for us to financially educate our children at an early age so that they can launch from our household and be fiscally responsible.
Most devotees of the FIRE concept, myself included, view reaching Financial Independence as a way to protect against physician burnout.
But can you have so much FIRE on the mind that the very solution for burnout can actually accelerate its onset (much like Icarus flying too close to the sun)?
Some Random Guy Online deals with this very issue in “Flaming Out on the Road to Financial Independence.”
Hope you enjoyed the reading material.
Have a great rest of the week.
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