045 - How JJ became an accountant, auditor and how he’s helping working professionals optimize their finances for freedom.

3DEEPERCUTS

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045 - How JJ became an accountant, auditor and how he’s helping working professionals optimize their finances for freedom.

And what the working doctor can learn from him.

3DEEPERCUTS

Aug 26, 2024

Transcript

In this episode of the 3DEEPERCUTS, we begin with insights from the book “Poor Charlie’s Almanack,” delving into the psychological tendency of excessive self-regard and its implications on various aspects of decision-making, from personal relationships to financial choices. Special guest JJ, a financial advisor and certified public accountant, joins the discussion to share his journey in the financial services industry, offer practical advice on investing and saving, and emphasize the importance of financial discipline for the working physician. The conversation covers topics such as avoiding lifestyle inflation, the pitfalls of shorting stocks, the benefits of exchange-traded funds (ETFs), and the relevance of 529 plans for education savings. The episode aims to equip listeners with strategies to better manage their finances and avoid common pitfalls.

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00:00 Introduction: Excerpt from Poor Charlie’s Almanack
10:24 Introduction to JJ
11:46 JJ Career Path as an Accountant
16:57 Common Financial Mistakes made by workers
22:47 The Impact of Social Media on Spending
28:15 Understanding Financial Goals and Limits
29:09 The Risks of Shorting Stocks
31:35 Top Exchange Traded Funds (ETFs) to Invest In
33:37 Comparing ETFs and Target Date Funds
40:11 The Importance of Education and AI's Impact
46:09 The Buy Now, Pay Later Market (and why you should avoid it)
52:36 Financial Advice for Physicians
55:55 Conclusion and Final Thoughts

SPEAKER LINKS:

Website: https://jjsfinclub.com/subscribe/

X/Twitter: https://x.com/JJsFinclub

Poor Charlie’s Almanack:

https://www.poorcharliesalmanack.com

Think and Grow Rich: https://www.naphill.org/shop/books/paperback/think-and-grow-rich/

Happy Money: https://www.simonandschuster.com/books/Happy-Money/Elizabeth-Dunn/9781451665079

PODCAST LINKS:

SubStack: https://3deepercuts.substack.com/podcast

Website: https://3deepercuts.net

YouTube: https://youtube.com/@3deepercuts?si=-Hbz-I4VWhwiOfmn

Spotify:

HOST LINKS:

Career Guides: https://chuckgmd.gumroad.com/

Writings: http://chuckgmd.substack.com

Enjoy the episode, Professors.

We’ll catch you next time. Please feel free to reach out with feedback to me. Always looking for ways to make this audio-experience better for you, the listeners.

In strength,

CHUCK-G