Chapter 1: Why do doctors need to know about personal finance?
- Importance of financial well-being
- Problem of burnout
- Lack of financial education in training
Chapter 2: Top mistakes that doctors make with their money
- Income does not equal wealth
- Targets for financial predators
- Misjudge length of career
- Delayed gratification
- Living up to the popular image of a doctor
Chapter 3: Becoming a financial literate physician
- How can doctors get started?
- Is it ever too late?
- Understanding financial freedom
- Develop simple habits to increase your knowledge despite being busy
- The K.I.S.S. principle
Chapter 4: Protecting yourself
- Life insurance
- Disability insurance
- Malpractice insurance
- Umbrella insurance
Chapter 5: What is your why?
- What is a why?
- Why do you want financial freedom?
- How can your why help you in the journey to financial well being
Chapter 6: Learn to keep score
- What is net worth?
- Why high income does not equal high net worth?
- How to calculate net worth?
- What to do now that you know your net worth?
Chapter 7: Budget like a pro
- Why most people hate budgets
- The difference between a restrictive and permissive budget
- The simple formula to build your budget
Chapter 8: Setting and growing your nest egg
- What is your retirement goal
Chapter 9: How much do you need to save each month
Chapter 10: Investing your money responsibly
- Intro to stocks and bonds
- Why investing in individual stocks is a losing game
- What are index funds
- Investing in index funds with an asset allocation
- Rebalancing your investments
Chapter 11: Invest in the right places
- Retirement accounts (401k, 403b, 457)
- IRAs (including backdoor Roth IRA)
- HSA
- 529s
- Taxable accounts
Chapter 12: The key to intentional spending
- What is intentional spending
- Formula for intentional spending
Chapter 13: Putting your personal plan together
- Creating your own personal financial plan
- Setting financial goals
- Organizing your financial priorities
- Detailing how you will reach your financial goals
- What you won't do
Chapter 14: Can doctors successfully invest in real estate
- Passive real estate investing
- Active real estate investing
Chapter 15: What's next for you?
- Conclusion etc.