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,…
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…
Financisms: A Top Ten List
Radiologists can relate to the phrase “a picture is worth a thousand words.” “The only constant is change” is another adage perfectly describing the specialty. And this dictum was hammered home by faculty throughout my radiology training: “If it isn’t documented, it didn’t happen.” You know I have a passion for finance. But I have a confession to make. I also love words. I love learning new…
Economics 101: Why Your Investment Activities Don’t Influence the Price of Stocks
They tumble, slide, jump, soar. They get the jitters and often seem moodier than a hormone-addled teenager. They are the stuff of which dreams are made—the rise and fall of fortunes in mythological proportions. I’m thinking of how fortune smiled on that lucky mortal who bought Apple shares for a song back in the ‘80s and became a bajillionaire. Yes, I’m talking about financial markets. Yes, it’s…
Asset Class II: Hot Tips on Developing a Sound Portfolio
I like diverse assets and I cannot lie. My last post (part 1 of this 2 part series on asset allocation) focused on investment philosophy and four things to consider before developing an investment portfolio. In case you missed it, here’s a quick refresher: asset allocation refers to the process of dividing investments among different kinds of asset classes to minimize risk and maximize return. In…
STOP and Ask Yourself These 4 Questions…Before You Invest
The savvy investor will invest sufficient time and consideration before making any major financial decisions—and part of this consideration should entail a dose of soul-searching and self-reflection with unflinching-bare-all-honesty. If you haven’t read my previous post on investment options you might want to start there. It’ll be helpful if you’re not already familiar with stocks, bonds, cash…
Get to Know Your Investment Types: We’re Going Shopping for Options!
And no, I’m not referring to stock options, those financial instruments that let you buy or sell shares of a stock at a specified price for a specified period of time. I have no experience as an options trader. Nor am I referring to employee stock options that offer the employee the right to purchase a set number of shares at a specified price for a fixed period of time, like…