Universal Principles of Money

<p>In this special 100th episode of Financial Clarity for Doctors, Rachelle and Corey discuss some principles of money that are worth incorporating into our daily lives.  Bottom line – A lot (but not all) of this is behavioral!</p> <p>Numbers Driven Principles:</p> <ul><li>Some of this needs to be backed up by data! Including discussions of: <ul><li>The time value of money</li> <li>Risk/reward trade offs</li> <li>Diversification</li> <li>Inflation and compound interest (compounding can work for you AND against you)</li> </ul> </li> </ul> <p>Behavior-Driven Principles:</p> <ul><li>Luck is luck. Don’t get too hung up when you are randomly on either side of it.</li> <li>Uncertainty is a given. Stop trying to focus on what may or may not happen and focus on what you can control!</li> <li>Stop comparing yourself to others. <ul><li>People have different goals and values and different ways of supporting that with their resources.</li> <li>Appearances can be very deceiving.</li> </ul> </li> <li>Separate fun from investing. It should be boring!</li> <li>Financial independence can have a huge impact on happiness and satisfaction. <ul><li>Even if you are working, you are doing it on your own terms now.</li> </ul> </li> </ul> <p> Listen to the full episode for these tips and so many more!</p> <p>For more financial planning tips from Corey and Rachelle, find them on social media! LinkedIn: <a href='https://www.linkedin.com/in/coreyjanoff/'>@CoreyJanoff</a> and<a href='https://www.linkedin.com/in/rachellevanderzanden/'> @RachelleVanderzanden</a>; Instagram:<a href='https://www.instagram.com/coreyjanoff/'> @CoreyJanoff</a> and <a href='https://www.instagram.com/vanderzandenrachelle/'>@VanderzandenRachelle</a>; and Twitter: <a href='https://twitter.com/coreyjanoffcfp'>@CoreyJanoffCFP</a> and<a href='https://twitter.com/rachellefinance'> @RachelleFinance </a></p> <p>Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making impo