Journal Club 10-13-23 – Passive Income MD

Here’s Journal Club 10-13-23! Every week, I hold a JOURNAL CLUB. After filtering through the articles on the web, I present a few that impacted my life this week. Be safe and stay well!

A Roth IRA is an excellent wealth-building tool that offers plenty of financial advantages by leveraging extended periods of time for compounding your contributions. However, can you open a Roth IRA for your child? Or more importantly, should you open a Roth IRA for your child? The White Coat Investor has the answers to your questions in the article – How to Open a Roth IRA for Your Kids (and Should You)?

Despite earning higher incomes, why do so many doctors struggle with managing their finances? Ever wonder why? Per The Prudent Plastic Surgeon, working on your financial well-being can actually enhance your abilities as a doctor. Further, the author encourages doctors to take advantage of their career’s prime years to establish financial stability and enjoy the rewards of their hard work by sharing key pointers in the post – 10 Sure FIRE Ways to Jump Start Your Personal Finances.

Let’s say you’ve successfully accumulated a certain amount of savings despite all the challenges and attractive spending opportunities. What should you do with your savings? Per the author of GoodEgg Investments, it’s essential to build a solid financial foundation that helps you make meaningful progress toward your goals before you venture into investing. So, what are some of these fundamental considerations? The author shares more about it in the article – How To Invest $10k, $25k, or $50k In Real Estate.

It’s always encouraging to hear the experiences of fellow real estate investors who share inspiring success stories and lessons learned along the way that can benefit those looking for ideas and seeking guidance for their own financial journeys. On that note, the author of Five Year FIRE Escape, shares about their real estate portfolio, their challenges, and strategies implemented to attain their financial independence goals and objectives in the post – My real estate portfolio – 11 years, $350,000, and 3 crucial lessons [Updated for 2023].

Read any interesting articles? We’d love it if you could please take a moment to share them in the comments below!

Thank you for reading and sharing,


Disclaimer: The topic presented in this article is provided as general information and for educational purposes. It is not a substitute for professional advice. Accordingly, before taking action, consult with your team of professionals.

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