Investment Strategy/Ideas

[castiron]

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Good morning everyone! The general consensus about anesthesiologist is that they are they "money men" of medicine. I would like to know what investments or ideas that everyone may be involved in? Is it rental homes, commercial property, owning a nightclub, etc???

We all know that the key to financial success is having your money work for you. Being an anesthesiologist for 30+ years will be a truly rewarding experience, but will it make you filthy rich?....probably not. My parents taught me from an early age, that you must OWN things (business, property, etc) to become truly wealthy. As an MSII, I am truly interested what financial decisions you may have made in this area? Thanks.

 

[Monty Python]

Good morning everyone! The general consensus about anesthesiologist is that they are they "money men" of medicine. I would like to know what investments or ideas that everyone may be involved in? Is it rental homes, commercial property, owning a nightclub, etc???

We all know that the key to financial success is having your money work for you. Being an anesthesiologist for 30+ years will be a truly rewarding experience, but will it make you filthy rich?....probably not. My parents taught me from an early age, that you must OWN things (business, property, etc) to become truly wealthy. As an MSII, I am truly interested what financial decisions you may have made in this area? Thanks.

Rather than take up too much bandwidth with a dissertation, let me instead recommend two simple things:

1. subscribe to Forbes and follow their advice, and
2. invest with (brokerage house of your choice). Mine is Vanguard. The key is to pick a house with low expenses, and Vanguard is dirt-cheap.

I keep about 10% of my money is speculative commodities, primarily for the rush of fooling myself into thinking that I can outsmart the market with periodic active moves (the IRS loves it every time I move money around).

The other 90% is in a half-dozen investment vehicles at Vanguard, each with slightly different objectives. They counteract each other depending on which way the market moves.

Boring, predictable, not-too-risky. I sleep well at night, not worried about my money. I've obtained healthy returns each year for almost two decades.

If I wasn't so lazy I might also invest in rental property, a business franchise, etc etc, but that's too much like work.