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Jun 14, 2018

It is a very special day at the Hippocratic Hustle, as I interview our first ever male guest! He is one of the superheroes of physicians and finance. Please welcome, Physician on FIRE, the anonymous anesthesiologist who started the very popular blog by the same name.

 

What exactly is F.I.R.E.? How can we calculate our annual expenditures? What about projections and inflation? What should we do about those pesky student loans? How can we double our money? How long will it take me to really be able to retire? So many questions! Not to mention, when we talk about finances, it’s all quite confusing.

 

Have no fear though, Physician on FIRE (PoF) shares his extensive knowledge on topics about financial independence (F.I.) and retiring early (R.E.). He is an anesthesiologist who attained financial independence at the age of 39, and now teaches other physicians to do the same. Listen in as PoF and I discuss why we should consider F.I, the benefits and tips to achieving it, and if your goal is to retire early, we have you covered there too!

 

In this episode, you will learn:

  • What exactly is FIRE and how you can apply it to change your life
  • Why you should consider financial independence early in your career and start investing now
  • How you can determine your annual expenditures now and in the future
  • How much you really need to save to live the lifestyle you want in retirement
  • What is the rule of 72 and how will it help you achieve financial independence
  • How PoF’s methods can help you achieve true work-life balance as a physician
  • How can physicians specifically work towards attaining FIRE
  • Should you pay off those low interest school loans and mortgages now
  • What does R.E. (retire early) exactly mean for Physician on FIRE.
  • What exactly is Geographic Arbitrage and how you can use it to your advantage

 

Links we discussed in the show:

If you want to know more about Physician on FIRE, you can visit his website. You can also follow him on Facebook and Twitter. Also, join the online community Physicians on FIRE.

If you also want to read more about the Rule of 72, you can check it out on Physician on FIRE’s site as well.

 

If you’re looking to dive deeper into the world of financial independence, you can check out Mr. Money Mustache’s website and Choose FI’s website.

 

Lastly, you can also look into The White Coat Investor Website and follow their White Coat Investor Blog too.

 

 

Quotes:

  • “A lot of people don’t know what they spend. You have to keep track of it.”
  • “It’s about having the ability to live the way you want to - with or without the paycheck.”
  • “Financial independence affords physicians the opportunity to practice medicine the way they want.”
  • “I think retirement is when you don’t rely on income.”

 

Special thanks to this week’s sponsors: Larry Keller from Physician Financial Services

and the Brand New Course from the White Coat Investor, Fire Your Financial Advisor!

 

Thank you for listening to the Hippocratic Hustle! I know that time is your most valuable resource so I really appreciate you spending some of it with me. If you enjoyed today’s show, please share it!

 

If you’d like to help me improve and grow the podcast, send your suggestions to: Carrie@HippocraticHustle.com

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