Grand Rounds: 7/26/18
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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.
Nobody is perfect.
- The fact that you have taken time to continue to read this blog from this mistake prone blogger is really heart touching.
Physician on Fire needs no introduction as he truly is one of the giants of my blogging niche.
In fact I was hesitant to even put a post of his on my blog roundup as it is akin to me owning a county fair and telling visitors, “Hey, have you heard of Disney World? You should check it out if you like this sort of thing.”
So, at the risk of pointing you to post you have likely already encountered, POF graciously reveals his imperfections in, “Top 5 Ways I Make Poor Choices With Money.”
Remember Aesop’s grasshopper and the ant parable?
Those of us in the FIRE community can definitely identify with the hard working ant.
When we start retirement however, is it time to be a grasshopper?
Get Rich Slowly looks at this very scenario in the post, “How Much Should You Spend In Retirement?”
I fondly remember about an investment challenge I had as part of the gifted/magnet program in junior high school.
We were given $10,000 to invest and whoever ended up with the most was declared the best investor.
I honestly can’t remember if I won or not (and if not I was pretty near the top) but I did it by taking on incredibly risky investment choices, concentrating on penny stocks for majority of it, and made a killing when I got lucky (I ended up with over $250k in the 6 months we did this).
It essentially was gambling rather than investing.
This next post titled, “We’re Teaching Our Kids About Investing The Wrong Way,” by Wall Street Physician really brings this home.
If you have been reading my blog from the very beginning (not hard to do since it has only been in existence since April), you know that I didn’t hit the lottery with my former spouse.
Some might even say I had a better chance of success choosing a mate by throwing a dart in a women’s prison.
Cory Fawcett, MD, of Prescription For Financial Success, on the other hand won the relationship lottery and shows what happens when the stars do indeed align in his post, “Your Spouse Is Your Greatest Financial Asset.”
A lot of us have eyes on the finish line.
Because of the very nature of medicine, some of us haven’t even reached the starting line (zero net worth)/stumbled out of the gate being so heavily in debt.
Ray from Fifteen Minute Financial Fitness documents the struggles a younger attending faces in, “Your Secret Weapon: Your Debt.”
As FIRE-walker aficianados, we have all come across the warning to avoid lifestyle creep whenever we have a bump in our income or come into some unexpected money (“Live Like A Resident”).
The key is to avoid getting on the hedonic treadmill.
20 Something Finance actually gives real world numbers to demonstrate the end financial result of being a creeper versus non-creeper in, “Lifestyle Creep Defined, It’s Calculated Impact, and How To Beat It”
And last, but certainly not least, there is an up and coming blogger that is taking the blogosphere and world by storm.
This particular blogger was kindly given a seat at the Royal Table by the Duke of Dollars (however given his lack of table etiquette (chews with his mouth open with periodic bouts of gas escaping from one or both ends) this may be a one and done royal invite.
Hope you enjoyed the reading material.
Have a great rest of the week.
(and please don’t forget to subscribe to my blog (it makes me feel oh so good) so you don’t miss a single post)
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