Physicians' Guide to Wealth

A guide for anyone pursuing financial independence

Q
This Too Will Pass

This Too Will Pass

In 1982 I was hired by Mass Financial in San Francisco, which started my career in the investment and financial planning business. The year before, President Reagan signed the Economic Recovery Tax Act (SERTA) in 1981, and the Federal Reserve reversed its rate decline...

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Is Party Over for Real Estate?

Is Party Over for Real Estate?

Yesterday the National Association of Housing Builders (NAHB) released its monthly index report on the survey to respondents in their organization on their views of the housing industry. For the ninth consecutive month, the index had declined and is now at its lowest...

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Thoughts From Industry Leaders

Thoughts From Industry Leaders

I am at the Advisor Circle Future Proof conference in Huntington Beach, California. Attending is over 1500 investment advisors with a lineup of seasoned speakers from national and international financial companies. Over these past three days, I have attended sessions...

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The Children of Wall Street

The Children of Wall Street

Driving home from church this past weekend, I had our 6-year-old granddaughter, one of 10 of our grandkids, in the back seat. Suddenly she starts crying. "What's wrong honey?". She cries out, "I'm starving and thirsty!" We're driving on the back roads to our home, and...

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Reigning in Inflation

Reigning in Inflation

This year’s goal for Jerome Powell, Federal Reserve Chairman, and his committee since January is to slow inflation. The primary culprit was the massive disruption of supply and demand caused by Covid-related government policies. Although governments around the world...

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Done with Bonds

Done with Bonds

For those with corporate and government bond funds or index bond funds in their account, the next 12 to 20 years may be a long-term declining trend. Bonds are sensitive to interest rates in which bonds correlate opposite to interest rates like a teeter-totter. If...

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Jobs, Jobs, and More Jobs

Jobs, Jobs, and More Jobs

I can’t remember any time in my lifetime the extreme abundance of jobs. Almost everywhere I go, there are “Help Wanted” signs in business windows, billboards advertising signing bonuses, and even messages of “We’re Hiring!” on the sides of trucks. Apparently, all the...

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More Bad News That is Good

More Bad News That is Good

Yesterday the July S&P Global US Manufacturing Purchasers Management report was revised to 52.2 from 52.3, indicating that factory orders have continued declining since early summer and are now at the slowest pace since June 2020.Econoday had this commentary on the...

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The Market is not the Economy

The Market is not the Economy

It’s hard to think of a better example of the “the stock market is not the economy” than what has transpired over this past month, as an extended list of poor economic data was published. The biggest headline by far was that inflation rose by 9.1% in June, which was...

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Bad News is Good

Bad News is Good

Yesterday, the National Association of Home Builders index reported its second largest one-month decline since the massive decline experienced in March 2020. The Home builder index dropped to 55 and has been steadily declining since its peak in December 2020. July was...

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Deciphering the CPI

Deciphering the CPI

Today the Bureau of Labor Statistics (BLS) released June’s Consumer Price index (CPI), a measure of the change in the average price level of a fixed basket of goods and services purchased by consumers. The CPI increased another 1.3% in June, following May’s increase...

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Next Housing Boom or Bust

Next Housing Boom or Bust

As we have written extensively in this Brief, consumer spending is the backbone of this economy. Consumer spending represents over 66% of all financial transactions in the country and is a dominant factor in the health and prospects of economic growth.Well Kept Wallet...

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