Investing Lessons: Painfully Gained

11/21/07

I don’t know about you but I didn’t get any business classes on the way through Medical school, nor was I ever taught how to bill for my work or how to run my practice. I learned through trial and errors (countless). Below are some things I learned from smart people.

Focus on assets; focus on ways to save for investment money and not cars or luxury items.

Once that money is invested don’t dip into the capital, if you must use the money it earns, but don’t touch the principal.

Diversify your investments and reduce risk. Stocks, Bonds, Real estate.

Spend more time finding a tax professional, even if they are more expensive, a little extra for good tax advice saves money in the long run, all the latest research states that the top most income earners pay the least in percentage terms, there is a reason for that.

Invest in education funds for your kids.

Don’t panic and make bad decisions about very rational things, if you did your homework and do your follow-ups as you do with your patients you will make better decisions.