Financial Independence

FU Money – Going Part Time

I previously told you all about a little FU-Money that we have stashed and how that let my wife take 4 months away from paid work. After spending a month home with Baby Kpeds I shirk at the notion that she “didn’t work” for those four months. She worked…just didn’t

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Saturday Selections

Saturday Selections – 10/20/18

Welcome to Saturday Selections @ Pediatrician Finds FI where I collect my favorite reads from the last week or so. Each of these posts are epic in nature and will explode your mind with knowledge bombs. Have fun enjoying the content that is aiding me in developing my FI-Super

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Journey Before Destination

Journey Before Destination Like most of you, I am an uberdork. My dorkiness most manifests itself in my love of epic fantasy and Final Fantasy games. …

Net Worth Update – October 2018

The FI-ometer Oh boy, it is net worth updating time. It is the end of a quarter so everyone whip out their FI-ometers and see where …

Frugal CABLE Win!

It's Frugal-Time! You heard the phrase "...a penny saved, is a penny earned?" Well that isn't quite right. The taxman is sure to make a …

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GRAB BAG - The Randomizer

Q&A With The Residents Part 4: What is a Good Intro Reading List?

We were eating lunch over the weekend and I asked the residents what books they were reading. One just finished a crime thriller, the other an adventure novel and the third is currently reading The White Coat Investor! She is finishing up her residency and entering primary care. She is …

Net Worth Update – October 2018

The FI-ometer Oh boy, it is net worth updating time. It is the end of a quarter so everyone whip out their FI-ometers and see where you are at. I am pretty happy that we continued to see the good ol' net worth climb even though Mrs.-Dr. Kpeds wasn't getting paid for …

Fees Are The Worst

Fees are a kick in the face. They are the worst. They get you down and keep your portfolio from going up. We need to do everything we can to minimize fees. There are all sorts of fees. Fees, fees, fees. Check out this list of fees: Expense ratio Management …

Life Energy – Your Money or Your Life Step 3

Welcome back to the Kpeds edition of Your Money or Your Life. Last week in Part 2 we saw that my real hourly wage is $31/hr. That's taking into account all the costs of doing job and hours spent outside the normal 9-5 workday. A far cry from the assumed …

Friday’s Dashlane Frugal Win of the Week

Time for another Frugal Friday WIN of the Week where we talk about trying to frugalize our lives a bit. These are all awesome ideas and you should try a few! The essence of frugality is learning how to optimize your money, to get the most out of each dollar that …

Second Generation FI

Growing Up I'm pretty sure that I am almost second generation FI. My parents played the FI game without calling it that or having a framework to teach us about it. My mom stayed home with us for 12 years from the time my older brother was born until my younger …

Your Money or Your Life – Kpeds Edition

I recently picked up a copy of Your Money or Your Life by Vicki Robin. This is one of the top recommended books by the FI crowd and has shaped the lives of all sorts of big names like Mr. Money Mustache, The MadFientist, and The Choose FI duo. I just …

How Are Financial Advisors Paid? Q&A With the Residents – Part 5

Now a few of you might still be thinking that you need a financial advisor. Totally reasonable if that is you. There is room for financial advisors for many of us, but that doesn’t mean you should get swindled or settle for bad advice! You might be wondering how to get …

Net worth beginning of 2017

I started tracking our net worth in August, 2017 with Personal Capital. Watching our net worth steadily approach zero is exciting. Every month we shave off a few thousand in loans and add a few more in investments and cash savings. It is a slow march but we are getting …

The Media Marketing Machine Manipulated Me

Create the Desire Back in the early fall of 2016 I was minding my own business futzing around on the interwebs and pulled up CNET or Gamespot for a quick bit. Then $2000 was spent on new computer parts. Shit. It happened fast. Before checking out CNET I was blissfully unaware of …

Friday’s Frugal SPAVINGS Win of The Week

Welcome to Friday’s Frugal Win of the Week. Every week I tell you about some of the kick-ass, frugal wins we do to work out our frugality muscles. These are all awesome ideas and you should try a few! SPAVINGS!!! Spavings is any savings you can score while doing normal spending. Credit …

What is FatFIRE?

A recent post over at Physician on FIRE discussed a definition for FatFIRE that I didn't quite agree with. FIRE is typically defined as having 25x your annual expenses saved and appropriately invested. This lump sum can be drawn down by 4% per year in perpetuity as demonstrated by the famous …

Why We Have a Boat Load of Cash 

We currently have 145k sitting in a couple of CDs and cash savings accounts at Ally Bank. So why are we hoarding a pile of cash at 1.75% interest in a no penalty CD? Why isn't it in index funds for the last 2.5 years gaining 15-20ish% a year in VTSAX …

Your Pants Are On Fire!!!

Last weekend, during our lunch break between seeing 25 or so kids on the floors (I know, lunch...I actually ate it peacefully sitting down and quietly having a chat...) one of the residents and I were talking about her money problems. Turns out she has a dog who needed an …

Friday’s Frugal Win of The Week

Welcome to Friday's Frugal Win of the Week. Every week I try to do at least one kick ass frugal activity to work out my frugality muscle*. These are all awesome ideas and you should try a few. This week I ran out of shaving cream. Instead of getting on Amazon …

Our FU Money – Update!

Little Baby-Kpeds is here! We had a perfectly healthy baby boy in April and are taking advantage of some diligent savings and our FU money stash. This is the true power of pursuing FI and living far below your means. We can take off as much time as we want …

Can FI Save You From Burnout? or Make It Worse?

Day Job Blues My office is about a block from the main hospital. Every day I get to enjoy a medium-gross walk down this block. This lovely walk routinely takes me past all the best parts of living in a big city....a few over turned garbage cans, some jerk emptying neon …

My Empathy Bucket Was Empty

How Much? On  a recent Saturday I worked nearly non-stop from 8a-10pm. In that time I biked to work, briefed with the nurses, rounded on our 15 inpatients, mentored interns who were doing their first weekend shift, supported a new resident as she took on her new role as a team …

Friday’s Frugal Baby Kpeds Win of The Week

Welcome to Friday’s Frugal Win of the Week. Every week I tell you about some of the kick-ass, frugal wins we do to work out our frugality muscles. These are all awesome ideas and you should try a few! Having a baby is expensive. $250k kind of expensive, and that …

How We Almost Ninja Travel Hacked

Surprise Vacation! Get this, I come home the other day and my wife and 3 month old baby tell me they want to go to Florida for a few days! Her brother is renting a swanky beach house and invited us down to join them. Seeing how we have a very …

Dear Interns, Congrats Now Pay Us Back!

Cost of a Signature and The Last Taboo Congrats! You finished medical school. Time for the illusion to end and the loan payback to begin. Indentured servitude here we come! This rather long ranty rant is of course for those with a Bristol-7 heap of loans. To the few of you who escaped …

We’re In The Top Ten……..

Kpeds here, I just took a gander at the net worth tracker over at RockstarFinance.  I'm working on getting PediatricianFindsFI on this epic financial blogger directory. With our net worth of about negative 70k we are in the top 10 LOWEST net worths being tracked! We clock in at number …

5 Ways To Fail at DIY Investing

Over paying for investments or advice Fees!!!!!! AAAAHHHHHHH. Dude, pay attention to fees and don't get swindled Buy Hi and Sell Low Don't Panic! when the stock market is down, everything is on sale! Buy some more of you favorite low cost index fund like VTSAX. Don't sell. If …

Milestones of FI

Once you start on the path to financial independence and set everything up there really isn't that much to do. Do a few things and then you are basically on autopilot for 10-20 years. Step 1: Set your goal and figure out your savings rate. Step 2: keep up your …

Q&A with the Residents Part 3: Using Your 403b

I signed up for the 403b, but I don't know where the money is going. What do I do? You are crushing it! You are putting money away in a retirement account as a resident. You are doing more than everyone sitting next to you in signout. Next step, where the …

Q&A with the Residents Part 2: Do I Need A Financial Advisor

Do I Need A Financial Advisor? NO!!! You definitely do not need a financial advisor! Index fund investing and learning about some of the behavioral pitfalls that can thrash people are easy enough for anyone to learn. That is if you are motivated! Index, buy and hold investing is simple. It …

The Millionaire Next Door – Part 1

Who Are These Millionaires Anyway? I just wrapped up the first couple of chapters of The Millionaire Next Door. It is a little odd reading a book about millionaires that was written in 1996. All the numbers seem off a little bit but I keep reminding myself that the real point …

Your Pants Are On Fire – UPDATE

Back in March I told you about a resident who  was treading water with student loans and credit cards debt but with a 6 month emergency fund and increased cash flow from lower IBR payments this year. Oh, and couple of thousand in credit card debt that is an eye …

Crossing Over to Step 8 – Your Money or Your Life

Last week in Step 7 we learned the importance of first mentally separating the work of our lives (that which gives your life meaning, purpose, fulfillment) from earning a paycheck (our job) and then striving to find employment that begins to merge the two as best as possible. This is …

Net Worth Update: April 2018

Hi folks, April is the start of the 2nd quarter and it is time for our first net worth update!!!! Oy, February was not pretty. We are big into correction territory here and the relentless rise seems to be on break. That's OK because we know that when the market …

Saving money by pretending you don’t have any….

Spending money is easy. I could go online buy a Nintendo Switch a few games, a couple of computer upgrades and something fancy for the wife. Poof, many thousands of dollars gone in a few minutes. I can feel it. My fingers would get all twitchy. The excitement. The two …

FOMO and That Time I Almost Bought Bitcoin at $19k

It seems that despite my best efforts, I too am not immune to the allure of the FOMO. The Fear of Missing Out. Back in December when Bitcoin was approaching $19k I tried to open a Coinbase account. I was ready to put 10k into Bitcoin and ride the speculative …

Why I Frugal.

Frugal-FI I have this pair of rubber flip flops that my wife got me when we were wee ones in medical school and going on our first vacation together (I know, vacation using borrowed money! What kind of Frugal Fail is that! Oh the care free pre-FI days when student loans …

Flex Those Frugal Muscles With Step 6 – Your Money or Your Life

Last week in Step 5 of this Your Money Or Your Life walkthrough I made my Wall Chart and started closely tracking my spending. I signed up for Mint last year but it didn't have the same feel as doing it myself. Mint auto-categorizes your spending and it all feels …

Sermo Stock Trading Craziness

I couldn't believe it. I've been in such a FI-bubble since I fell face first down a FI-ery rabbit hole back in August that I haven't been reading anything without an FI bent. I was browsing around Sermo after completing a survey for some quick cash and stumbled on the …

Frugal CABLE Win!

It's Frugal-Time! You heard the phrase "...a penny saved, is a penny earned?" Well that isn't quite right. The taxman is sure to make a dollar in your pocket way more valuable than the next one you earn. So why don't you join me and Frugal-FI your life!   Frugal-FI Your Cable …

Our Student Loan Plan

Past Me wasn't so bright. He thought that Current and Future Me would be as indifferent and laissez faire about having a combined $400k plus, Bristol 7 pile of debt as he was. He thought that student loans were no big deal, everyone had them, that they would take care …

My Real Hourly Wage – Your Money or Your Life Step 2

I'm about 80 pages in and finished reading the first two Steps of Your Money or Your Life.Step 1: Determine how much money you made over your entire life and tally up all your assets and liabilities. What is your net worth?Step 1 seems a bit daunting and Vicki Robin …

First Post!!! Net Worth Jan 2018

Seeing as this is a FIRE blog, starting off with a net worth statement seemed as a good a place as any. As of Saturday, January 22st our net worth is a negative $101,444, This is how it breaks down: We are still pretty far from zero but I think we …

How Bad Can Financial Advice Be?

Crap 403b I recently gave a lecture on student loan and debt management as part of a personal finance lecture series. It was a big hit. How do I know? Well, I'm pretty sure none of the residents fell asleep during the talk! That alone is a win. This is an …

Was It Worth It? – Your Money or Your Life: Step 4

Welcome back to the Kpeds edition of Your Money or Your Life, part 4! Last week in part 3 I showed you how a month's worth of expenses broke down. I spent an eye popping $4,970 with at least $500 in unaccounted spending!That was a bit of a surprise. The …

Is It OK To Laugh?

Stone I was reading M over at Reflections of a Millennial Doctor and was again struck by her storytelling and how she brings to life the challenges we all struggle with. Our jobs are hard. They can take and they take until we are empty and then sometimes they take a …

FU Money – Going Part Time

I previously told you all about a little FU-Money that we have stashed and how that let my wife take 4 months away from paid work. After spending a month home with Baby Kpeds I shirk at the notion that she "didn't work" for those four months. She worked...just didn't …

Biking is Awesome*

No Brainer Life Change About 1.5 years ago I changed jobs. It was a no brainer. 20% raise, good people, and a commute that is 30-60 minutes shorter...each way. And I got to trade in my twice daily drive for a kick ass twice daily bike ride. I was initially skeptical …

The True-er Cost of Your Cell Phone Addiction

Stop Replacing Perfectly Good Phones Yes, I am a millennial. I’m married, have a kid but my cell phone is still through my parent's family plan. I set up an auto-payment through my bank account that sends my dad $39 each month for my share of the Verizon bill. In total …

Why Our Equities Asset Allocation is 100% Stock Index Funds

As you know, I'm a fan of passive index fund investing. The cost savings on fees and all the data that show that index funds win in the long run is overwhelming. Check this out, Harvard paid $242 million in investing fees over 10 years and has worse returns than …

Final Wrap Up – Your Money or Your Life

Roots Thank you for joining me on my deep dive into Your Money or Your Life. It is pretty obvious that I enjoyed the book and I can see why so many people view this book as life changing. Reading Mr. Money Mustache, Jim Collins and The Mad Fientist started me …

How We Scored A 2.335% Interest Rate At SoFi

So how did we do it?  How did my wife get her interest rate down to 2.335% variable with SoFi? The story actually starts about 2.5y ears ago when she completed residency. We applied to only SoFi and refinanced her government loans to a 2.9% 10 year variable loan. We knew …

Net Worth Update July 2018

Land Marking Life I just turned 34. Baby Kpeds is almost 3m old! Another summer begins. Halfway through 2018. New interns. Residents graduating. Life is marked by events and occasions big and small. It's how we measure the passage of time and our relationship to it. How about this one? The …

Journey Before Destination

Journey Before Destination Like most of you, I am an uberdork. My dorkiness most manifests itself in my love of epic fantasy and Final Fantasy games. Brandon Sanderson is my favorite author and he is currently writing a 10 volume epic called The Stormlight Archives. He does a lot of world …

Friday’s Frugal Cell Phone Win of the Week

Welcome to Friday’s Frugal Win of the Week. Every week I tell you about some of the kick-ass, frugal wins we do to work out our frugality muscles. These are all awesome ideas and you should try a few! On Tuesday we talked about how you should STOP replacing your …

Question and Answers with the Residents: Part 1

After giving the pediatric residents a talk on personal finance I decided to keep the conversation going. Here are some of the real questions I get asked! I don’t have money to invest, what should I do? Invest anyway! Just start, do something, get your feet wet so it is easier to …

Dear Interns, Want to Save $25,000?

Starting Off Strong Welcome to internship and a very exciting 3-5ish years! You are soon going to be very busy and I want to tell you how you could save anywhere from $7-25k before you are too busy to do anything about it. This is geared to all those, who like me, …

Friday’s Frugal Ravioli Win of the Week

Welcome to Friday's Frugal Win of the Week. Every week I try to do at least one kick ass frugal activity to work out my frugality muscle. These are all awesome ideas and you should try a few. Mrs. Dr. Kpeds had a hankering for some ricotta cheese. Just ricotta cheese, …

Behavioral Pitfalls of Investing

Have you ever thought about thinking or how your brain makes decisions? Sometimes it seems like our brains have it out for us and make it incredibly hard to make good decisions. Here are some of the more common cognitive biases that influence us both in medicine and investing.    Confirmation Bias We …

To Show For It: Your Money or Your Life Step 1

Welcome to my adventure reading Your Money or Your Life! This is the first of 9 Steps that Vicki Robin has to tell us about. Check out the rest of the Steps here! Making a Dying Vicki isn’t pulling any punches and immediately introduces one of the more hard hitting ideas in …

Our F-U Money

The wifey is preggers! And due in April! He is our first baby and the first grand baby for my folks. This is all very exciting and means big changes for our lives. I don't know how we did it, but we managed to fit everything we need in our …

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