Description
Book SynopsisA step-by-step guidebook for doctors and other medical professionals about growing and preserving wealth,
Financial Freedom Rx: The Physician’s Guide to Achieving Financial Independence gives physicians all the tools necessary to manage their own finances.
Medical professionals, especially doctors, spend many years in training as they accumulate debt and delay their earnings. This book presents a time-tested formula that students and established professionals can follow at any stage during their careers to achieve fiscal peace of mind.
Students will learn how to budget and adopt disciplined financial practices. Residents and other trainees will learn how to defend against calamity with various insurances and how to manage debt. Junior professionals will acquire the skills needed to invest and grow their portfolios, while senior professionals will better understand the essentials of estate planning and retirement.
Drs. Chirag P. Shah and Jayanth Sridhar wrote this inspiring text to guide physicians where to put their next dollar. This is particularly important during the financial uncertainties brought by COVID-19 and insurance cuts.
Financial Freedom Rx sets forth principles that will pilot medical professionals toward financial independence.
Chapters include useful advice on topics such as:
- Financial planning
- Investing and asset allocation
- Jobs and contracts
- Taxes and insurance
- Student loans and debt
- Retirement savings and distributions
Financial Freedom Rx: The Physician’s Guide to Achieving Financial Independence serves as a timeless blueprint for financial planning that medical professionals will follow throughout their careers, and as a reference that readers will revisit again and again as they progress through the various stages of life.
Trade ReviewThe best physician-specific general financial book published in 2021."—James M. Dahle, MD, author of
The White Coat Investor“Doctors often have too little of one (time) and more than enough of the other (money), and that makes them prime targets for get-rich schemes, so keep your antennas up when the “sharks” come calling. The information contained in this book constitutes great shark protection. So dive right in!”– Mel Lindauer, Founder and President (2010-2019) of The John C. Bogle Center for Financial Literacy, Co-author of
The Bogleheads’ Guide to Investing and
The Bogleheads’ Guide to Retirement PlanningTable of Contents
- Dedication
- Acknowledgments
- About the Authors
- Foreword by Mel Lindauer, CFS, WMS
- Introduction
- Chapter 1: Why Financial Planning Matters
- Chapter 2: Jobs and Contracts
- Chapter 3: Initial Steps PostTraining
- Chapter 4: Defense
- Part 1:
- Disability, Health, and Malpractice Insurance
- Chapter 5: Student Loans and Retiring Debt
- Chapter 6: Tax-Advantaged Investing
- Chapter 7: Taxable Investing
- Chapter 8: Diversification and Asset Allocation
- Chapter 9:
- Defense Part 2:
- Life, Homeowners, and
- Umbrella Insurance
- Chapter 10: Financial Advisors
- Chapter 11: Estate Planning
- Chapter 12: Have I Won the Game?
- Chapter 13: Retirement Distributions
- Chapter 14: Pitfalls to Avoid
- Epilogue
- Appendix A Checklist
- Appendix B Resources
- Index
