Smart Spending: Know Thy Purchasing Personality & Why Money Mindfulness Matters
I’d like to preface this entry by saying: this post is really fun; I’m so excited for you to get past this introduction and read on; just wait for the surprises I have in store for you! But first read the introduction, of course. Please. Money Mindfulness. Or perhaps, “Mindful Spending”, if you’d like. Guess what it is! No, it’s not the latest #trending New Year’s resolution (#moneygoals,…
What in the Heck is a “Bull Market” and a “Bear” Market”?
Imagine yourself skipping down a yellow brick road. That road has a street sign that says, “Wall Street.” You’re on a journey to the Emerald City, which you presume is so-named for all its flourishing investments and wealth; a place where money is so abundant it practically grows on everything and little green triangles always point skyward. Along the way, the sky begins to darken. Suddenly,…
Top Ten Tips for Academic Radiologists
The first few years in academic radiology, especially year one, can be overwhelming. If you’re lucky, you will get excellent advice from colleagues from within and outside your department. If not, you may feel like you’re sailing in a boat without a rudder. Going into it without a solid plan and supportive guidance can mean the difference between early success and early failure. As a…
Financial Capacity: Here Today, Gone Tomorrow (Wise-up on Health, Wealth, & Aging)
You may lose your marbles, but you can still preserve your financial well-being. Unlike other finance posts on The Reading Room aimed at helping you become financially literate, this one is all about what happens when you develop age-related financial vulnerability and are no longer able to make sound financial decisions. And this post is not just relevant to older or retired radiologists, but…
Why Smart Radiologists Can’t Manage Their Money
Once you’ve finished the 26th grade (average stage of a radiologist at the end of training), you should be well-equipped to practice radiology. You've survived all the entry requirements, standardized tests, rigorous educational demands, and long and arduous nights on call. After years of dedication and sacrifice, you have become a valuable member of the healthcare community. Medical school,…
What I Wish I Knew About Finance As a Medical Student and Resident
Let’s talk about the “f-word.” That word being failure, of course (what did you think I meant?). Hindsight is 20/20. To err is human. We can’t escape failure, as much as we might want to, especially when we receive that stinging feedback. It’s true that the path to success is paved with failure—but, as it turns out—everything you thought you knew about failure is probably wrong (🤯!!!). Well,…
The Finance Savvy Resident: Your Future-Self Will Thank You For This
Or your future-self might not; I don’t know, because I can’t predict the future. But I can offer some solid, evidence-supported suggestions—apropos to residents—as to potentially prescient, if not generally, sensible financial moves. Whatever your particular path or current circumstances, it is never too early nor too late to consider your financial future; how you can help position yourself…
Play By the Rules and You Could Love Retirement
Are you thinking about retiring? Unless you’re already retired, I suggest you DO start thinking about it. Whether it’s 5 years down the road or 50 years into the future, it’s wise to start planning early. Why is that? I could fill beaucoup tomes on that answer, but let’s keep it simple: because getting to the $ number you need in order to retire with the lifestyle you’ve imagined for…
DIY Real Estate Investing: Lessons From a Future Radiologist
Have you ever played the old version of the board game Monopoly? If so, you’ve had some experience in real estate investing. It’s a strategy game that involves buying and selling properties. After you purchase all the lots on a block, you can buy houses and then a hotel. The rent you can charge soars with the number of buildings owned. Making the wrong moves can result in bankruptcy. Just like…
Negotiation: Everything You Wish You Knew But Nobody Taught You
Q: What do a doormat and a bull-in-a-china-shop have in common? A: Neither are good approaches to negotiation. In a previous post I briefly discussed contract negotiations. Because this is something that can greatly influence one’s career, I feel it’s worth taking a closer look at what it takes to be a successful negotiator. If you’re already a pro at this, you might want to read on anyway so…