Dr. Chen doesn’t agree that these are the only options. She says that investing in individual stocks can be done by anyone and with little time expenditure. “This is my huge tip on how to invest; put your money where you shop and what you use daily,” she said. “I don’t know anything about turbines, but I do know from personal experience that Apple makes good products, and I see people packing the aisles at Target. Companies that are very integral to your life, and you know others feel the same way, are likely to do well going forward.”
Explore This IssueJuly 2019
Because you spend time with these products, you get a feeling for when things are beginning to change. You can consider selling, often before problems are seen in the quarterly reports.
Real estate can be a good investment because it often runs counter to stocks and bonds. While owning it can be time consuming, investing in syndicates, private real estate investment funds, or publicly traded companies takes away most of the time commitment. Many physicians have been successful investing in medically related real estate such as offices or surgery centers.
“I believe it was the late Jack Bogle, founder of Vanguard, who said ‘Stay the Course…is the most important single piece of investment wisdom I can give to you’,” said Dr. Dahle. “Any reasonable plan that is funded adequately is going to work as long as you have a plan and stick to it.”
Kurt Ullman is a freelance medical writer based in Indiana.