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Book Recommendations for late career physicians

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  • Book Recommendations for late career physicians

    Looking for recommendations aimed at older / late career physicians who are now having an interest in becoming more financially savvy. I perused the list here, https://www.whitecoatinvestor.com/books-4/. Any idea on a good book that doesn't focus too heavily on events that have come and gone (student loans, first house, early lifestyle choices, etc) but would be helpful to those nearing retirement?

  • #2
    William Bernstein books are excellent for all ages and stages. He has one specific book that discusses investing along the life cycle that may be appropriate, but probably not as a first read:

    https://www.amazon.com/gp/product/B0...api_tkin_p1_i8

    I read it a few years ago, and it is pretty heavy, IIRC.

    The WCI book is excellent, too. It is organized in such a way that a reader can easily skip the chapters and sections that are not applicable (student loans, life insurance, or whatever).

    https://www.amazon.com/White-Coat-In...t%2C169&sr=1-2

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    • #3
      I thought Retire Secure by Lange was very good for discussing withdrawal strategies and estate planning.

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      • #4
        bogleheads guide to retirement planning
        and all the books on their list.

        imo a late stage physician just starting to learn about finances needs to still start at the beginning.

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        • #5
          Originally posted by Peds View Post
          bogleheads guide to retirement planning
          and all the books on their list.

          imo a late stage physician just starting to learn about finances needs to still start at the beginning.
          I would agree, but I think focusing too heavily on how important it is to do X, Y, Z, when one has missed that opportunity / done it poorly in the past is defeating and discouraging.

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          • #6
            I've finished reading the texts included in WCIConf2020 swag bag.
            Rick Ferri, " The Power of Passive Investing". Outdated. published 2011. Beats the index>active horse to a fault. I found a few gems WRT. trusts.
            Phil Demuth. "The Overtaxed Investor" Loved loved loved this book. published 2020 and includes TCJA and Secure Act provisions. from Warren Buffet--> Demuth, I've incorporated the concept of "internal compounding" to favor growth stocks and avoid tax-inefficient dividends for multi-generational wealth in taxable accounts.
            Harry Sit. "My Financial Toolbox" published 2020. succinct writing style. the gems/words is high.

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            • #7
              FWIW, old era writings are enlightening to see what prophetry proved true and what has failed.

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              • #8
                Originally posted by jz- View Post
                I've finished reading the texts included in WCIConf2020 swag bag.
                Rick Ferri, " The Power of Passive Investing". Outdated. published 2011. Beats the index>active horse to a fault. I found a few gems WRT. trusts.
                Phil Demuth. "The Overtaxed Investor" Loved loved loved this book. published 2020 and includes TCJA and Secure Act provisions. from Warren Buffet--> Demuth, I've incorporated the concept of "internal compounding" to favor growth stocks and avoid tax-inefficient dividends for multi-generational wealth in taxable accounts.
                Harry Sit. "My Financial Toolbox" published 2020. succinct writing style. the gems/words is high.
                I have read the overtaxed investor and the power of passive investing. They are both very good. I guess I need to read My financial Toolbox.

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                • #9
                  ESImoney reviewed one recently that sounded good here: https://esimoney.com/the-top-five-mo...tirees-part-1/

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                  • #10
                    books by bogle, malkiel and swedroe

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                    • #11
                      IF YOU CAN the pdf by Bernstein ALL YOU NEED TO KNOW

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