****AUG 18, 2023****
Residents,
LT Trice, excellent talk this am about a subject that is not taught to Physicians.
Here are a few of the books that I have found helpful when learning about managing your money, setting up a budget and building your portfolio.
Growing up, my parents never talked about money, so I took the initiative to learn about this subject.
Here is a shortlist that I recommend you check out on Amazon. Delivered electronically or book (if you are old school)
Suze Orman: The Money Book for the Young Fabulous and Broke.
The Millionaire Next Door by Stanley Thomas (Older book but a classic read).
Smart Couples Finish Rich by David Bach (Excellent book that provided a road map allowing you to set up your portfolio. I used this as a template and still do to this day on an excel spread sheet updated annually to see the big picture).
How to Make Your Money Last: The Indispensable Retirement Guide by Jane Bryant Quinn. (Recommended by one of my mentors CDR(ret) Don Nichols who took me under his wing when I was a resident). Also, a very valuable book which goes over all aspects of your portfolio. (For MTV fans from the 80’s, VJ Martha Quinn is her daughter.)
No mater which book you choose, they all provide the same information. Repetition is the key to learning.
Your ultimate goal is achieve financial independence allowing you to do things you enjoy.
Door is always open if you want to talk.
Sincerely,
Dr. Michael S. Danforth, FAAFP
CAPT (ret), MC, USN
USU, Assistant Professor in Family Medicine