Why I Deserve a Tesla

Why I Deserve a Tesla

So... I bought a Tesla.  Well, to be accurate, I put a $1,000 deposit down to reserve the right to buy a Tesla Model 3 when it finally rolls off the assembly line in 2018.  Some of you read my most recent Net Worth Update and you may be wondering - this guy preaches about debt repayment and wealth building, here he is up to his neck in debt yet he puts a down payment on a $35,000 car on a $50,000 salary?  What a hypocrite!?  Well, let me tell you why I deserve a Tesla...

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FPMD New Year's Resolutions - Money Edition

FPMD New Year's Resolutions - Money Edition

Happy New Year!  As we flip to the first page of 2016, it's a great time for new beginnings. For the White Coat Money readers out there, I challenge you to come up with 3 New Year's resolutions that deal with money.  These should be challenging but achievable goals.  For example, paying off $200,000 student debt would not make a good resolution as it is very much un-achievable for the average medical student or resident.  Why 3?  Because best things come in threes - the Godfather trilogy, the original Star Wars trilogy (episodes IV-VI), Virchow's Triad etc.  And also because I can't keep track of more than 3 things.  Here are my 3 new year's money resolutions.

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2015 Young Physicians Financial Preparedness Report

2015 Young Physicians Financial Preparedness Report

The 2015 Report on U.S. Physicians' Financial Preparedness: Young Physicians Segment is the latest data release from AMA Insurance designed to understand the attitudes and behaviors of physicians related to personal financial planning and retirement readiness.  Data was obtained from three national survey studies representing responses from 1,937 U.S. physicians under age 40.  The report is quite detailed and comprehensive at 81 slides.  But fear not!  White Coat Money is here to break it down...

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5 Financial Milestones for Healthcare Professionals under 30

5 Financial Milestones for Healthcare Professionals under 30

This post is inspired by a story shared with me by a friend on 10 Financial Milestones Successful People Hit Before They Turn 30.  While many of the milestones mentioned also apply to healthcare trainees, our unique career choice and the sacrifices we make demand a different set of priorities.  Here are what I consider the 5 most important financial milestones for healthcare trainees to hit before they turn 30.

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REVIEW: EveryDollar Budget by Dave Ramsey

REVIEW: EveryDollar Budget by Dave Ramsey

If you're a reader of WCM, there's a good chance you've heard of Dave Ramsey - bestselling author of The Total Money Makeover and host of The Dave Ramsey Show.  Ramsey is arguably the most successful personality in the personal finance business today.  One of his go-to advices is to create a budget and stick to it.  So it's only fitting for his company to create a budget tool.  Today we take a look at the EveryDollar Budget by Dave Ramsey.

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