The Sunday Best is a collection of articles I’ve curated from the furthest reaches of the internet for your reading pleasure.

Every week, I scan hundreds of headlines, read dozens of posts, and bring you the best of the best to save you time and mental energy.

Financial Independence (FI) is a primary focus, but it’s an awfully broad topic. I tend to approach FI and early retirement from a fatFIRE perspective and through the lens of a physician, so expect to see those biases in the selected articles.

Related topics that have become recurrent themes include early retirement, selective frugality, tax issues, travel, physician issues, and of course, investing.

For more great articles, take a peek at The Sunday Best Archives. Now let’s get to the best… The Sunday Best!

 

 

 

Have you taken a stroll down the lumber section at Home Depot lately? If so, you know the answers to questions posed and answered by Jesse Cramer for Your Money Geek. What is Inflation and Should You Be Worried?

 

Apparently, you can charge $8 for a pine 2 by 4 and people will pay that price. 2 x 4 =8, so I guess it makes sense? Retire before Dad reminds us that you can’t necessarily charge whatever you want for a thing, though. After all, It’s Only Worth What Someone Else Will Pay.

 

That’s certainly the case with cryptocurrencies. JL Collins hosts a second guest post from Lucas on the subject of Bitcoin. The Top 9 (Bad) Arguments Against Bitcoin with a few equally bad rebuttals (like gold has no intrinsic value?!?).

 

Should I buy some more? Is it time to sell? Or just HODL? Can you imagine answering these questions day in and day out on any number of speculative investments? More to That explains the troubling psychology that persists whether you make or lose money. Speculation: A Game You Can’t Win.

 

While travel rewards may not be an asset class, many investors (including me) are holding more than just stocks and bonds to their portfolios these days. Alt Goes Mainstream opines. 60/40 No Longer? Building an investment portfolio for the 21st Century.

 

How big should that portfolio be before work becomes optional? A look at retirement needs from a high-income professional. How Much Money Does a Doctor Need to Retire?

 

It’s one thing to establish whether or not you can. It’s another thing to decide whether or not you should, says Clipping Chains. Six Important Reasons Not to Retire Early.

 

There’s no guarantee that leaving your job will instantly make you happier. Jim from Route to Retire reflects on his post-work years. Finding Happiness Once You Leave the Rat Race.

 

Another thing you’ll want to figure out is where your money will be coming from. The White Coat Investor lists 7 drawdown principles in The Most Important Factor in Retirement Withdrawal Plans.

 

Start planning during your working years and you may benefit from the arbitrage of taking deductions at a high marginal tax rate while later paying tax on withdrawals in a lower marginal bracket. The FI Physician explains Marginal vs. Effective Tax Rates & Taking Advantage of Tax Bracket Arbitrage.

 

There are plenty of other ways to pay less in taxes. SurgiFI reacts to the Propublica study comparing the net worth of the elite and the taxes they pay. Want to pay less taxes like the wealthy? Follow these steps.

 

Real Estate benefits from tax advantages that other asset classes can’t offer. Crowdstreet shares their outlook for the remainder of 2021 in three sublcasses. A Commercial Real Estate Investing Thesis.

 

Real estate investors routinely use the equity in their properties to make further investments. Semi-Retired MD compares and contrasts two common methods. Should I use a HELOC or Cash-Out Refi to Fund My Next Property?

 

ESI Money used rental properties to help reach financial independence at an early age. See how these 7-figure folks he recently interviewed acquired their wealth and how they invest it:

• Millionaire Interview #226
• Millionaire Interview #227
• Millionaire Interview #228
• Millionaire Interview #229
• Millionaire Interview #230

 

See You in Asheville!

 

In the past, I’ve talked about putting together a live event of some sort, but I’ve also realized doing so is quite a bit of work. Thus far, I’ve preferred to attend events organized by others, and this one looks amazing.

Four weeks from today, we’ll be wrapping up the latest DLP Prosperity Family, Wealth & Legacy Event for accredited investors in the hills of brewery-laden Asheville, North Carolina. Yes, there’s a brewery tour on the itinerary, and of course, a tour of the Biltmore Estate.

With a powerful speaker lineup that includes Hal Elrod (author of Miracle Morning), Brad Stulberg (author of Peak Performance), and Eric Maddox (helped track down Saddam Hussein), this should be an outstanding long weekend.

If you care to join me, you’ll only have to cover your transportation and lodging. DLP Capital Partners has made both this event and Prosperity Membership free for Physician on FIRE readers.

 

 

 Here’s more on what to expect from our friends at DLP: 

The decisions you make today are paramount to your family’s success tomorrow. Ensure your wealth and legacy will carry on for generations; join us at the DLP Prosperity Family, Wealth & Legacy Event from July 8 to 11 in Asheville, NC.

During this three-day event, DLP Capital Partners CEO & Founder, Don Wenner, and the DLP team will take you through our Financial Freedom Plan, Family Compass and Family Governance training and share ways you can manage your legacy, allowing you to create generational impact that will last for years to come.

In addition, you’ll also experience:

• World-class presentations and thought-provoking sessions from impact investing’s top thought and action leaders
• Amazing nightly dinner events
• Fun activities throughout Asheville, NC, a vibrant city settled against the backdrop of the incredible Blue Ridge Mountains

Apply to attend today! Space is limited.

 

 

The Alpha Coaching Experience

 

Offered a couple of times per year, Dr. James Turner’s Alpha Coaching Experience is about to wrap up enrollment for the summer session. Registration goes through tomorrow evening (Monday, 6/14), and fortunately, you can opt in now and choose to opt out later for a full refund if you’re not completely happy with the program.

Not sure if it’s for you? Take a few minutes to see if your objections are covered by The Physician Philosopher himself as he looks at the 6 limiting beliefs that keep physicians from getting the help they often need.

 

 

Learn more about what Dr. Turner and his team is offering in this session of the Alpha Coaching Experience, along with a number of video and written testimonials from physicians who have completed the individual and group coaching experience.

Still have questions? Schedule a quick one-on-one curbside consult with the good doctor to have your questions answered. He’s got numerous openings both today and tomorrow.

 

Alpha Coaching Experience Details

 

Sold!

 

We’ve accepted an offer on our lake home, and we now have all of our possessions together on one property. It’s been a long time since we could say that!

I can almost say “under one roof” but we actually have two double garages, one of them being detached, so we have all of our stuff under two roofs (plus a boat, RV, and travel trailer under no roof), but hey, it’s all on one property.

 

 

We continue to remain busy in “retirement.” Last week, we hosted my parents for a few days, and Dad helped me tear out and replace a rotten bathroom subfloor with three layers of oh-so-expensive plywood. We spent one last night together at the lake before clearing it out the next day. It was a great but too-short visit.

Back at our new home, we’ve got more carpets to tear out, floors to replace, and organization / downsizing to do. We’re intentionally slowing our pace, though. It’s been a bit frenzied for some time, now.

We should have the place in tip-top shape just in time to break ground on our next home across the street, which is currently in the early planning stages. If only the cost of lumber wasn’t so inflated…

 

A Recommended Financial Advisor

 

For those of you who would rather not DIY, I maintain a short list of recommended financial advisors. Among the good guys and gals who work frequently with physicians, only the lowest cost, fee-only fiduciary advisors were invited to be on this short list. Among them is FPL Capital Management.

 

FPL Capital Management

FPL Capital Management Vetting Application

 

FPL Capital Management is a Fee-Only RIA that offers a unique fee structure, which is based on charging clients a flat annual fee for services provided. Fees range from $1,000 to $10,000 per year for Portfolio Management.

They utilize low-cost funds from Vanguard, Dimensional, iShares, WisdomTree, and AQR. They have custodial relationships with Schwab, Fidelity, and TD Ameritrade. They offer an Institutional Platform that provides clients access to private debt and private equity funds. FPL also offers Wealth Management and ERISA Fiduciary services. Their focus is medical practices with fewer than 100 employees. They offer this service utilizing DC Platforms of Vanguard and Employee Fiduciary.

Fees:

Annual Advisory Fees range between $1,000 and $10,000, depending on the level of service selected.

Contact Info:
3525 North Causeway Blvd.
Suite 633
Metairie, LA 70002
800-835-1969
Info@fplcapital.com

Visit FPL

 

Have an outstanding week!

-Physician on FIRE