Book #9: White Coat Investor: A Doctor’s Guide to Personal Finance and Investing, James M Dahle
I have spent in total 25 years of my life in school and in training for the job that I now do. From kindergarten through high school, college through fellowship, I have spent countless hours learning and training. Doctors when they graduate from residency or fellowship are well versed in human anatomy, physiology and the latest evidence based strategies for patient evaluation and treatment. But in these 25 years of training, the one area that received the least amount of training was personal finance. Excluding an hour long seminar in Medical School and courses in Macro and Microeconomics, all of my training in personal finance was handed down from my Dad or self sought. Doctors (and most people in general) receive little formal training on the one aspect that will have the biggest impact on their personal lives, career and standard of living in retirement: money management. Choices made over a career can be the difference between retiring in comfort or with very little. While there are general principles of money management and investing that are universally applicable, there are aspects of financial planning for physicians that are unique to this cohort. This book, written by an Emergency Physician, is a primer on investing geared specifically for doctors. It is a must read for physicians especially those early in their career.