The Side Hustle Spotlight is a weekly roundup of interesting posts and articles about medicine, side hustles and personal finance.
This week we had a few laughs with Specialty Beers. Like beers, most medical specialties attract a certain personality. Whether you’re a Michelob Ultra (OB/Gyn), Pabst Blue Ribbon (Ortho) or Colt 45 (Pain Management) I hope you enjoyed this lighthearted post.
Speaking of beers, Physician on FIRE has turned his brewing hobby into a revenue stream. On this week’s Side Hustle Sit Down he walks us through the dos and don’ts of investing in microbreweries. Aside from creating local jobs in small towns, this form of investing comes with an extra perk – a lifetime of free beer. That’s my kind of dividend!
I wasn’t the only one interviewing a great doc blogger this week. Xrayvsn put Dr. McFrugal through the X-ray Beam to see what makes him tick. Aside from discussing finance, frugality and family, Dr McFrugal managed to work in references to David Carradine, Duck Tales and Back to the Future. If that doesn’t scream “I was born in the 1980s” I don’t know what does!
Mr Tako Escapes knows that Struggle Makes You Stronger. My wife and I often commiserate over our humble upbringings and agree that it helped mold us into the driven successful adults we are today. How do you pass that struggle on to your kids once you’re in the top 5% of all American earners? We agree with his sentiment – “Unlike other parents, I actually don’t want to use all my money to make my son’s life as easy as possible”. How have you introduced some struggle into your kids’ privileged lives?
Smart Money MD discussed Doctors and the Real Estate Itch. Everyone knows a doc who brags about their real estate investments. You can only hear so many of these stories before you start thinking the grass is greener. Like Smart Money MD says: “If real estate investing weren’t lucrative, the ultra-rich barons who pay 8% effective income tax wouldn’t exist”. Have you ever experienced the real estate itch?
I think part of the reason I experience the real estate itch from time to time is that everyone who writes about it makes it sound like a surefire path to passive income. I appreciated Semi-Retired MD writing about My Worst Real Estate Investing Mistakes. Between real estate bubbles, money pits and business partners asleep at the switch, real estate investing isn’t without risk.
You don’t know when risk is going to show up, but you better have a plan. Chief Mom Officer knows what to do when the market implodes. 10 Things You Should Really Do When the Market Goes Haywire offers solid advice by someone who has already survived two big bear markets. If the recent market turmoil has you feeling on edge, go check out her post.
The great thing about physician income is that it can cover a bunch of stupid mistakes. Many of us bought McMansions we didn’t need, splurged on expensive travel or took out more student loans than we should have. As long as you don’t make too many mistakes you will still be able to retire comfortably one day. White Coat Investor knows You Can’t Do it ALL Wrong. He gives examples of doctors who get it right, mostly right, right enough and those who are in chronic financial trouble. Read the descriptions and I bet you will recognize each of these types of docs.
Need a good laugh? Accidental FIRE has you covered. His latest infographic Active Fund Managers vs. Computers had me chuckling. As funny as Accidental FIRE’s ideas are, it’s the attention to detail that I admire most. Go check it out for yourself and tell me what you think.
Halloween has come and gone. My 2 year old’s $50 costume went unused, we gave out $30 in candy and we wandered the streets in search of $7.50 in free Kit Kats. All in all, it was a smashing success. I hope you enjoyed these great blog posts as much as I did.
Side Hustle Scrubs