Physician and High Income Professionals Personal Finance Blog Roll

Enter the Dragon, 1973, Bruce Lee

There are many styles of financial Kung Fu.

I grew up watching classic foreign Kung Fu movies where schools would constantly be fighting with each other to prove “My Monkey Kung Fu is more powerful than your Slinking Tiger Style”. Blogging is different and even though we may approach things slightly differently or have a different emphasis, personal finance blogs are complimentary.

I have listed the finance blogs that I know that are particularly relevant to Canadians and Canadian physicians, dentists, lawyers and other high income professionals or business owners.

Rockstar Finance

There are literally thousands of finance blogs out there. Rockstar Finance is a curator that scans them and re-posts the best and most unique articles. It is not professional focused or Canadian, but is a great general resource. If I ever write anything good enough to get on there, I will celebrate.

Canadian Physician Finance Blogs By Physicians

There are now three of us in the past few months! We have tripled in size!

Stoger, “Heroes Among Heroes”
  • Dr. Networth – Dr. Networth is a Canadian physician writing about general personal finance from a broad perspective with the added perspective of being a doc. His financial focus is Passive ETF and Passive Real Estate Investing.
  • Dr. MoneyBlog – Dr. MB is a female Canadian physician and closet personal finance junkie (coming out of the closet apparently 🙂 She writes about general finance, simplicity, and the bigger picture of our lives into which it all fits. Quirky and much wisdom there.
  • Financially Free MD – FFMD is a Canadian physician married to a Canadian physician who, together, have achieved financial independence in their mid-thirties. There are some excellent articles about the basics of personal finance, investing, and incorporation. I could totally financially geek out with this guy.
  • Loonie Doctor – That’s me. You can read about me here. Master of Drunken Monkey Kung Fu. Well, the drunken monkey part anyway.

Canadian Physician Finance Facebook Group

  • Physician Financial Independence (Canada) is huge (>5600 members) group of Canadian physicians discussing finance on Facebook. It is a closed group for Canadian doctors and dentists only – you need a valid license to join. The discussion is active about both basic practical issues (like how to buy an ETF) and higher level financial topics. There are some very knowledge people commenting – I have learned a few things already!

Canadian Physician Finance Blogs By Industry

  • Medical Post – Finance Section.  You need to register (free) to log in to this one, but there are frequent articles written specifically about physician relevant issues. Most are written by members of the financial industry. However, they also post some articles by physicians.
  • MD Management Blog. Part of the MD Management website. Some general articles. Very often end with recommending that you talk to your MD advisor.

American Physician Finance Blogs By Physicians

There is a well established US physician blogging community.

  • White Coat Investor – this is probably the Bruce Lee of physician finance Kung Fu. He has been around for years, writing a book, made a course, and has a successful blog business. It is physician focused with tonnes of great material in the American context. Much of that translates here except our practice/job environment and our tax environment in Canada is very different.
  • Physician on FIRE – this is would be more like the Jackie Chan of physician finance Kung Fu. A bit newer on the scene, pretty funny and entertaining, but also very skilled. His focus is financial independence in addition to physician specific issues in the US context.
  • Wall Street Physician – a reformed Wall Street worker who is now a doctor. His blog is investing focused, but has good general finance articles also. I have no idea how he is able to put out articles so frequently and of excellent quality. #envy
  • Crispy Doc – employs a British secret service mixed martial art. He is actually more like an American Austin Powers helping physicians get their mojo back – both financially and in life.

This is in no way a comprehensive blogroll. Just the sites that I check out regularly. Physician on FIRE has the largest physician finance blogroll that I have come across. Crispy Doc also has another great blogroll of physician finance bloggers – complete with some narrative and obviously a good sense of humour.

This is in no way a comprehensive blogroll. Just the sites that I check out regularly. Physician on FIRE has the best physician finance blogroll that I have come across.

Canadian Finance Blogs With A High Income/Networth Focus

  • The Blunt Bean Counter is written by accountant Mark Goodfield. He often writes about tax issues faced by CCPC and high income or networth families. His posts are not only detailed and useful, but also insightful.

Canadian ETF Investing Blogs

  • Canadian Couch Potato. A great source of general and detailed information about ETF investing. My only beef is that I was schooled in Canada in 1980/90s and still spell potato with an “e” on the end.
  • Canadian Porfolio Manager  by Justin Bender. A good source for info about getting started in ETF investing. He even has model portfolios and pays attention to how to allocate amongst differently taxed ETF and account types.

Canadian General Finance Blogs

There are actually quite a few. Most provide great general content, but I do have a few favourites:

  • Greater Fool written by Garth Turner. I have read this blog daily for about 10 years and have to give Garth credit (or blame) for a good chunk of my financial education. His blog is real estate focused, but has great pearls about general finance, investing, and life. Plus we have seem to have compatible sense of humour.
  • Boomer & Echo written by Robb Engen and his mom Marie Engen. A great general personal finance blog. High income earners may have some “1st world problems”, but we still face the same general personal finance issues that everyone else does. This blog has frequent concise actionable advice type posts in the Canadian context.
  • Michael James on Money.  Thanks Neuro-doc for the recommendation on this one. I am just getting started delving into it!

This Blogroll of Canadian Personal Finance Blogs is by no means complete. Or even close to complete.

There are many great blogs out there in the Canadian tundra. I have tried to flag some of the ones that are my favourites or particularly relevant to the high income professional or business owner niche.

If you have other favourites, please put them in the comments section below with a brief description about why you like them.

 

12 comments

  1. Hello LD!

    This is awesome. My first shout out- so cool!! I also am a lover of martial arts flicks. Jet Li’s “Fist of Legend” is my favorite. I will scan the movies till I get solely to the martial arts fight scenes. Divine indeed….

  2. It’s great to find a community of like-minded Canadian physicians interested in discussing the taboo subject of finances!

    Thank for the mention. I grew up watching all the Seagal and Van Damme movies….so bad, yet so good! I don’t know if this qualifies for a “Kung-Fu movie”, but the animation series “Avatar – Last Airbender” and to a lesser extent, “Legend of Korra” are my family’s favourite martial arts-themed shows….so good!

  3. I found your blog through either PoF or WCI. It’s great to see some Canadian perspectives due to the difference systems.

    WCI just posted that his blog generated 7 figure income. Wishing you all similar success!

    1. Thanks! They have great sites and are the ones that inspired me to try and fill the Canadian void. I saw that WCI post. Amazing and well deserved, but I have lower aspirations- will work for beer and hometown glory.

  4. Could you include some Canadian finance blogs aimed at high income and/or business owners, but not necessarily specifically written by or for physicians?

    I enjoy reading Justin Bender’s blog at Canadian Portfolio Manager.

    The Blunt Bean Counter is written by an accountant, Mark Goodfield, and provides an excellent perspective on tax issues for CCPC and high net worth families.

    Michael James on Money has been writing for many years. He often writes from the perspective of mathematical analysis on financial issues. He recently retired, and is living off his indexed portfolio.

    Does anyone have any other blogs to recommended that are written by or for Canadians with high income / high net worth?

  5. I noticed that the margin tax rate for a 7 figure income in US is lower than the marginal tax rate for a 200K Canadian income. Talk about disincentive to work…

    Personally, I find it is hard to be a DIY when net worth increases. The approach needs to be customized and it’s hard integrate info from various blogs with different target audience. I was hoping that MD management could fill that void as they hire a lot of people with different background, but they haven’t impressed.

    1. Totally. The diminishing returns on working more than needed or wanted has become huge here. No problem if there are plenty of other high quality workers to fill the gaps, but that may not necessarily be the case.

      Nothing wrong with having an advisor – especially when you have a larger networth and the percentage fees are less and the effective fees can be decreased further by using them as a tax deduction against a high marginal tax rate. You definitely would want to get a multi-disciplinary team that makes an integrated plan – at a fair price. It is important to be educated to be able to identify that though.

    2. I use my accountant frequently due to the CCPC. But I have not required MDM very often. I find the tax issues very specific to one’s situation. But I know how to buy dem ETF’s myself.

      1. That’s exactly how I roll too. Having spent some time analyzing how to deal with the new rules, I don’t plan to change. Should be easy to maintain once I finish some reshuffling (which I will share on the blog).

Leave a Reply

Your email address will not be published. Required fields are marked *