Dr. Wise Money
Amanda, who blogs as Dr. Wise Money (DWM), is a first-year resident (PGY2) in the Department of Medical Imaging at the University of Arizona. As DWM achieves her financial goals of purchasing a home (MS4), paying off her student loans (PGY1), maxing out retirement savings (PGY2), & now closing on her second home, and on track to becoming retirement-eligible in 7 years (3 years after fellowship completion), she writes about & gives talks on personal finance for doctors, assisting her colleagues to achieve financial success. DMW is featured by websites including Physician Financial Success Podcast, White Coat Investor and Non-Clinical Doctors. You are encouraged to join the 30-day Mindful Financial Practice with DWM @ Dr WiseMoney YouTube Channel. DWM's articles are for informational purposes only and not intended as a substitute for professional a
I recently stumbled upon Overcome FOMO (Fear of Missing Out) in 7 Steps by finance superhero. I was enlightened by this article and decided to write about the ways I personally combat FOMO. FOMO is likely the most prevalent psycho-social disorder plaguing our society, a nation with the great abundance in choices and options.
Donâ€™t tell me youâ€™ve never done this: deliberately avoid revealing that you are doctor. Whether it is like White Coat Investor, who rightfully thinks that he may get a better deal if the sales person doesnâ€™t know heâ€™s a doctor, or it is awkward at a dinner party after a crowd just made a series of doctor jokes (not suspecting that there is a doctor in their mist.)
Many of us have our mind set on starting to build wealth when we finish training. Some say, â€œIâ€™ll be making so much more money that what I save now will not matter in comparison.â€ Others say, â€œI just canâ€™t squeeze out anything, we are maxed out on our current income. Thereâ€™s nowhere to cut.â€