Customer Reviews

The Physician's Guide to Investing: A Practical Approach to Building Wealth

5 star:		(6)
4 star:		(0)
3 star:		(1)
2 star:		(1)
1 star:		(0)

 

 

I was very interested in this book as I saw some good reviews on it, am very interested in finances, and am also about to graduate medical school: So I had a ton of questions about what the financial future is going to look like for me.

I was actually really dissapointed in this book.

Firstly: The book hardly feels tailored to physicians. He makes some interesting points about not alerting salesmen to the fact you're a Doctor so they don't take advantage of you... but other than that: the real angle is that he uses a 250,000 salary as an assumption of what you make. I find this frustrating since I matched into Peds and I'm hardly going to make 250,000.

Secondly: The book is just rife with errors. It's the second edition: I would think they would have taken some of these problems out. (Duplicate words, truncated words, letters and punctuation missing etc.)

Thirdly: I felt like I was being talked down to the whole time. It's one thing to discuss everything in simple terms because you don't know the educational level of your readers... but to talk down to me is just insulting. This book is supposed to be for physicians... don't tell me "If you spend your tax refund splurging for something of luxury you might as well just put this book down now as you clearly aren't going to listen to anything else I have to say." I'm sorry... I used last years refund for a vacation after my extremely stressful 3rd year... are you punishing me? Do I not deserve this? what is splurging and what is enjoying life? This is never defined.

Fourthly: The book doesn't ever talk in great detail about anything... it merely skims the surface of a bunch of issues without ever really saying anything. The issues are usually then explained further with various metaphores and analogies of credit cards being like sirens making you crash on rocks or jedi's and the such... I felt like I was attending a church sermon and the only way the complex theory of good and evil could be explained was through little metaphores that really aren't applicable.

I think I was hoping for more substantial advice... something more clearly tailored to the common physician leaving medical school with 200,000 in loans and going into a specialty that really won't earn that much... but was hoping to find answers in how to stretch these sums of money for the better good of his family and the community... not merely "don't spend--put it all away... then when you retire don't spend much still... then die and donate it all" Ultimately that's what I got, and that doesn't answer anything.

I am a physician who also enjoys teaching personal finances. This book should be a must read in every medical school curriculum. It is practical, full of insights, and easy to read in a weekend. I loved it so much, I bought a hardback copy as well so that I could loan the paperback to my colleagues. Although some of the advice is tailored to physicians, the book has valuable information for non-physicians as well. A great resource that is motivational as well as informative.

The author is out of date or living in a different world. He assumes that physicians make at least $250,000 per year and that a 4000 square foot house with a little land can be had for $350,000. He also assumes a very high (unrealistic) rate of return for his investments. However, the book does offer some practical advice.

I really liked this book! It's one of the best investments I have made. I believe that it is cheaper and much more valuable than most financial advice you can get from a third party.
It starts with general advices on how to prioritize your needs. Then, as you continue to read, it tells you what options are there for you to do with your money. In particular, the author highlights ways for you to avoid common mistakes that could threaten your financial future.
I would recommend this book to anybody, particularly well paid professionals (doctors, lawyers, dentists, etc.), who are looking for a means of getting a good foundation for their financial knowledge and independence.

I got several financial books after my husband started private practice - this one is by far the most comprehensive and detailed. Doroghazi has many funny one-liners and direct advice. The table of contents is very helpful - I know right where to check back for info. I really wish I had purchased this sooner, before we received bad advice from financial advisors who were only looking out for themselves.... Now I really feel like we have a better handle on our savings plan, goals, disability insurance & life insurance policies. This is a great book!

Any physician graduating medical school or finishing residency should read this book if they have not exposed themselves to studies or practical experience on the financial side both personally and professionally. The author is a physician and provides a good basic theoretical approach with several real world practical examples. It is a quick read and can provide significant guidance to helping a physician make the leap from just cash flowing to building significant wealth. The author helps dispel the myths of high incomes versus high net worth.

Although the title implies it is for physicians, the book is truly a practical guide for all investors. It is useful for anyone who wants to save and build a dollar. The vignettes and bullet points are extremely helpful. This book will pay for itself many times over!

An excellent account of money management and personal finances.