Passive Income M.D. Joins the WCI Network

[RDB]

InfoRPh wrote:

Whenever I hear of a “successful” MLM business, this is the part I’m most curious about – how relationships may have soured because of it.

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This is a big issue! My wife has(d) a very close friend who got into MLM. Her husband now also is a part of her "team". They make a ton of money doing it (mid-6 figures), but when her and my wife were still close, she was open enough to inform her of how much it had strained friendships and her family relationships. I cannot tell you the last time my wife has had contact with them, and they were best friends. They appear from the outside to be different people. They are making a lot of money, but at what cost?

[MPMD]

InfoRPh wrote:

 

Would also be nice to hear a perspective on if/how this has strained any relationships. I don’t know a single person who is happy to see their facebook feeds filling up with “spontaneous” posts about R+F.

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Whenever I hear of a “successful” MLM business, this is the part I’m most curious about – how relationships may have soured because of it.

 

While I’ve managed to suppress posts about Rodan and Fields in my FB feed because I wasn’t that close to them, someone with whom I share 50% of my DNA sells Plexus, and I can’t block them (there’s nothing a clinical pharmacist and her EM physician husband like hearing about more is the evils of conventional medicine and a very expensive cure-all that should be used instead).  So, I’ve stopped looking at FB entirely instead.  Frees up a lot more time to read WCI and Bogleheads, on the upside!

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I'm basically there. I've gone from checking the app on my phone dozens of times a day to removing the app and maybe looking at fb on my computer 1-2x/week.

Reasons:

• MLM posts


• Invasive ads, didn't love how I would search for something and then all of a sudden I would see targeted ads for a month


• Stupid messenger function that also repeatedly demands you download it, not able to view messages on my phone unless I d/l another app? No thanks.


• App became amazingly invasive on phone. I would turn off all notifications and it would turn them back on, not kidding.


• After I stopped looking at the app I began to get crazy notifications like "you should come back to fb and see what your friend InfoRPH has posted!"


• Then fb started texting me (like SMS text) to ask me to come back


• Really don't love the stories that have come out about how they configure news feeds, I'm all for capitalism but what they are doing seems to be on the level of subliminal messages and I find it unethical

I still use to post pics and stuff for family and friends.

[The White Coat Investor]

G wrote:

The White Coat Investor wrote:

G wrote:

Sorry, PoF and PIMD, I’m still left wondering about details!

This is kinda how I feel:

“How to Put in a Central Line”

1) Open up central line kit

2) Put big catheter in big vein.  Consider pros/cons of using an ultrasound.

3) Get an Xray to check for punctured lung.

Click to expand…

I’m not sure you understand how entrepreneurship works. It’s not like becoming a doctor where you go to college, major in biology, become the president of the pre-med club, go to med school, go to residency, do fellowship, and then get a job doing pediatric nephrology.

Every path is different and typically can’t be reproduced.

Nobody can give you a check list saying “do this, then this, then this, then you’ll be successful.

Click to expand…

Nah, Jim, I got it.  I’m not looking for a recipe, just a higher level discussion/analysis on a forum with a bunch of fellow personal finance nerds; not seven paragraphs that might appear for general consumption on cnnmoney.

It’s all good!

Click to expand...

You guys need to understand that the level of financial disclosure on my blog is relatively unusual in the personal finance space. Most financial bloggers are anonymous. Even among those, very few of them reveal specific details about their personal finances, much less their blog revenue. Even something as basic as their net worth, only about 1/4 of financial bloggers, even anonymous ones, reveal.

And look at the issues that happen when you do. I publish what I make and where the money comes from once a year and now I've got 35-40 other physician financial bloggers, the successful ones of which are for the most part following the monetization model I developed and mostly using advertisers I made connections with. I've even become more vague over the years about what I'm getting from my various advertisers. And if you don't think it changes relationships when my family, neighbors, and co-workers know such intimate details of our financial lives, you're fooling yourself.

And now you're talking about a blogger who is likely to not be anonymous very much longer revealing key details of the finances for a business he doesn't even own (it's his wife's.)

I told him to reveal what they're comfortable revealing about it and not worry about what people who aren't even using their real names, much less revealing their own finances on a public forum, think about it. So they're talking about it and you get what you get. If you really want details, send him an email and maybe you get some, maybe you don't. But if you're just being financial voyeurs, try putting yourself in his place and decide what you would reveal to the entire planet.

[Donnie]

The White Coat Investor wrote:

G wrote:

The White Coat Investor wrote:

G wrote:

Sorry, PoF and PIMD, I’m still left wondering about details!

This is kinda how I feel:

“How to Put in a Central Line”

1) Open up central line kit

2) Put big catheter in big vein.  Consider pros/cons of using an ultrasound.

3) Get an Xray to check for punctured lung.

Click to expand…

I’m not sure you understand how entrepreneurship works. It’s not like becoming a doctor where you go to college, major in biology, become the president of the pre-med club, go to med school, go to residency, do fellowship, and then get a job doing pediatric nephrology.

Every path is different and typically can’t be reproduced.

Nobody can give you a check list saying “do this, then this, then this, then you’ll be successful.

Click to expand…

Nah, Jim, I got it.  I’m not looking for a recipe, just a higher level discussion/analysis on a forum with a bunch of fellow personal finance nerds; not seven paragraphs that might appear for general consumption on cnnmoney.

It’s all good!

Click to expand…

You guys need to understand that the level of financial disclosure on my blog is relatively unusual in the personal finance space. Most financial bloggers are anonymous. Even among those, very few of them reveal specific details about their personal finances, much less their blog revenue. Even something as basic as their net worth, only about 1/4 of financial bloggers, even anonymous ones, reveal.

And look at the issues that happen when you do. I publish what I make and where the money comes from once a year and now I’ve got 35-40 other physician financial bloggers, the successful ones of which are for the most part following the monetization model I developed and mostly using advertisers I made connections with. I’ve even become more vague over the years about what I’m getting from my various advertisers. And if you don’t think it changes relationships when my family, neighbors, and co-workers know such intimate details of our financial lives, you’re fooling yourself.

And now you’re talking about a blogger who is likely to not be anonymous very much longer revealing key details of the finances for a business he doesn’t even own (it’s his wife’s.)

I told him to reveal what they’re comfortable revealing about it and not worry about what people who aren’t even using their real names, much less revealing their own finances on a public forum, think about it. So they’re talking about it and you get what you get. If you really want details, send him an email and maybe you get some, maybe you don’t. But if you’re just being financial voyeurs, try putting yourself in his place and decide what you would reveal to the entire planet.

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People want more depth in PIMD's articles because they get such depth out of WCI and POF posts.  Speaking for myself, I don't care how much money someone makes in an MLM, but a thoughtful perspective on MLMs from someone on the inside would be interesting.  Details including an honest assessment of pros and cons, discussion of conflicts of interest (e.g. docs peddling placebos), discussion of business models used in MLMs, etc. would be far more interesting than a bunch of generic stuff that could be found on the MLM Wikipedia entry.

PIMD's articles typically consist of vague, beginner-level info as has been discussed ad infinitum in this thread.  The typical forum member on here won't get much out of PIMD, so should stop expecting to.  It's clear that the people on this forum aren't PIMD's target audience.

 

[DMFA]

Both PIMD and POF are "out" on Facebook, at least to a limited extent.

And Jim, I (and likely p much all of us) thoroughly appreciate your transparency. If I had to set up what you set up, even with the benefit of hindsight and the proverbial armchair, I'm not sure I'd do much, if anything, differently.

Guys/gals. PIMD's wife does MLM. PIMD talks about it. Okay, and...? Should he hide it? That would seem more disingenuous than the original concept. He's not spamming her links, inviting you to parties, trying to get you into her down-line, posting pictures of some sorority girl who got a Lexus for peddling it, talking about how her Rodanniversary changed her life...but it is indeed passive income, and it bears mentioning.

And if you're like me and can't stand MLM, but are interested in reading about many other concepts related to passive income, then do what I do: don't click the MLM links or scroll past it on the page. This is not tantamount to PIMD (and esp not WCI by extension) trying to sell you the latest caffeine/B-complex powder. I get your backlash (I said it on day one myself), and I'd rather not ignore components and would rather enjoy it in its entirety, but I'd move for not throwing the baby out with the bathwater.

[jfoxcpacfp]

DMFA wrote:

talking about how her Rodanniversary changed her life

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You crack me up...

[RDB]

Nice post DMFA. Not a big fan of MLM, less a fan of people being so offended and upset about anything they do not agree with.

[The White Coat Investor]

Donnie wrote:

The White Coat Investor wrote:

G wrote:

The White Coat Investor wrote:

G wrote:

Sorry, PoF and PIMD, I’m still left wondering about details!

This is kinda how I feel:

“How to Put in a Central Line”

1) Open up central line kit

2) Put big catheter in big vein.  Consider pros/cons of using an ultrasound.

3) Get an Xray to check for punctured lung.

Click to expand…

I’m not sure you understand how entrepreneurship works. It’s not like becoming a doctor where you go to college, major in biology, become the president of the pre-med club, go to med school, go to residency, do fellowship, and then get a job doing pediatric nephrology.

Every path is different and typically can’t be reproduced.

Nobody can give you a check list saying “do this, then this, then this, then you’ll be successful.

Click to expand…

Nah, Jim, I got it.  I’m not looking for a recipe, just a higher level discussion/analysis on a forum with a bunch of fellow personal finance nerds; not seven paragraphs that might appear for general consumption on cnnmoney.

It’s all good!

Click to expand…

You guys need to understand that the level of financial disclosure on my blog is relatively unusual in the personal finance space. Most financial bloggers are anonymous. Even among those, very few of them reveal specific details about their personal finances, much less their blog revenue. Even something as basic as their net worth, only about 1/4 of financial bloggers, even anonymous ones, reveal.

And look at the issues that happen when you do. I publish what I make and where the money comes from once a year and now I’ve got 35-40 other physician financial bloggers, the successful ones of which are for the most part following the monetization model I developed and mostly using advertisers I made connections with. I’ve even become more vague over the years about what I’m getting from my various advertisers. And if you don’t think it changes relationships when my family, neighbors, and co-workers know such intimate details of our financial lives, you’re fooling yourself.

And now you’re talking about a blogger who is likely to not be anonymous very much longer revealing key details of the finances for a business he doesn’t even own (it’s his wife’s.)

I told him to reveal what they’re comfortable revealing about it and not worry about what people who aren’t even using their real names, much less revealing their own finances on a public forum, think about it. So they’re talking about it and you get what you get. If you really want details, send him an email and maybe you get some, maybe you don’t. But if you’re just being financial voyeurs, try putting yourself in his place and decide what you would reveal to the entire planet.

Click to expand…

The typical forum member on here won’t get much out of PIMD, so should stop expecting to.  It’s clear that the people on this forum aren’t PIMD’s target audience.

 

Click to expand...

There are forum members here who don't even read my blog. And it's not just because it isn't in Chinese.

[Passive Income MD]

Hey everyone, thought I'd jump in and share some thoughts. When I started the site, I thought it'd just be a few posts for some friends and it's grown into something quite larger. The increased publicity has come with some criticism but way more positivity & gratitude. Something that I've been surprised at is the growing desire for readers to know every intimate detail. I'll be honest, I wasn't prepared for it, and it's been a constant struggle figuring out what I'm willing to reveal and what I'm not. I've heard some words of caution from some who have perhaps revealed too much, and how it's affected their professional and personal relationships. I'm "anonymous" but likely won't be too much longer and therefore my wife won't be either, so it's something that I'm being cautious about. And for the record, my wife is a lot more private about revealing financial info in particular, so I have to respect that.

I understand that limits the usefulness of the blog for some people, especially the really savvy ones you'll find particularly here on this forum. It's something I have to accept and so I don't mind the criticism. I do know that it helps a good number of physicians who are just figuring out that medicine alone won't get them where they want to be. I also haven't shied away from talking to people on an individual basis. Happy to help where I can.

Thanks everyone.

 

[Donnie]

Passive Income MD wrote:

Hey everyone, thought I’d jump in and share some thoughts. When I started the site, I thought it’d just be a few posts for some friends and it’s grown into something quite larger. The increased publicity has come with some criticism but way more positivity & gratitude. Something that I’ve been surprised at is the growing desire for readers to know every intimate detail. I’ll be honest, I wasn’t prepared for it, and it’s been a constant struggle figuring out what I’m willing to reveal and what I’m not. I’ve heard some words of caution from some who have perhaps revealed too much, and how it’s affected their professional and personal relationships. I’m “anonymous” but likely won’t be too much longer and therefore my wife won’t be either, so it’s something that I’m being cautious about. And for the record, my wife is a lot more private about revealing financial info in particular, so I have to respect that.

I understand that limits the usefulness of the blog for some people, especially the really savvy ones you’ll find particularly here on this forum. It’s something I have to accept and so I don’t mind the criticism. I do know that it helps a good number of physicians who are just figuring out that medicine alone won’t get them where they want to be. I also haven’t shied away from talking to people on an individual basis. Happy to help where I can.

Thanks everyone.

I find your response confusing.  What do you think people are asking you for?  People on the forum aren't asking for specifics about your financials.  As far as I can tell, people want actionable advice on generating passive income or thoughtful insight (i.e. how to source, diligence, and invest in passive income).

In my opinion, your answer shouldn't be - I didn't intend for people to actually read my blog so I am not willing to share specifics - as you essentially wrote.  It should be - I want as many eyeballs as possible, so I will leave the content very light to attract as many clicks as I can.  The former comes across as disingenuous IMO.

 

[VagabondMD]

I think it is time to stop flogging PIMD. There are about a gazillion financial oriented blogs, forums, and pages on the internet, and if his content and style are not to one’s liking, it is very easy to find ten that are.

I do think that, as others have said, we are spoiled by the content, detail, and disclosure of WCI and PoF, and while PIMD obviously has his own following, his product is just not what many of us are interested in consuming. I know that I signed up for a subscription to his blog, perhaps a year ago, did not find the topics appealing and moved on. No harm, no foul.

I listened to the PIMD interview on the WCI podcast and found PIMD to be engaging and genuinely interested in helping other docs. It comes down to the fact that the docs on this forum are of a different stripe and are just not going to be interested in his message or delivery. Agree to disagree and all that. (If I were a mod, I might even close the thread ).

[The White Coat Investor]

I love that people feel like PoF has a great deal of disclosure. You don't even know his name! (But you will if you come to the conference.)

[jfoxcpacfp]

Because I always listen to anything Vagabond MD has to say, the thread is about to be closed.