Recommended Reading

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New MD in the Black Book!

MD in the Black: A Personal Finance Primer for Medical Residents

Bulk discounts available - contact us for details!

Looking for more personal finance resources after finishing MD in the Black?

 

Check out the list of our favorite advanced personal finance resources below.

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Books

MD in the Black: A Personal Finance Primer for Medical Residents

As a resident, finding reliable, relevant, and succinct financial advice can be challenging. That's why we wrote the MD in the Black book: a single high-yield source for all the information you need to manage your finances during residency. This book answers residents’ most pressing financial questions, including:

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  • Should I pursue Public Service Loan Forgiveness?

  • Do I really need to buy disability insurance?

  • Should I use extra money to invest or pay back loans?

  • What investments and accounts should I choose?

  • How do I find reliable financial advice?

 

Pick up your copy today for answers these questions and more, all free from distraction of less relevant content and the bias of industry.

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The Bogleheads' Guide to Investing

After reading A Personal Finance Primer for Medical Residents, A great next step for those interested in a deeper dive into investing is this classic from the Bogleheads crew. Click here to get started with your deep dive into investing with this highly recommended book!

The Bogleheads' Guide to the Three-Fund Portfolio

If you finish the Bogleheads' Guide to Investing with a hunger for more content on portfolio management, the Bogleheads' Guide to the Three-Fund Portfolio is a quick read on a simple strategy for portfolio management. Click here to pick up your copy today

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The White Coat Investor: A Doctor's Guide to Personal Finance and Investing

If you finish the MD in the Black content and are ready to start learning about personal finance after residency and fellowship, the White Coat Investor book is a great next step. This book will build on the knowledge you gain from MD in the Black by covering several new issues that will arise once you begin collecting an attending salary. You can pick up a copy here.

How to Think About Money

A great twist on the "classic" personal finance book that highlights a financial strategy for happiness instead of pure wealth maximization. The mindset of using money purposefully to reduce stress and maximize happiness in life can be applied to anyone, including residents. The financial tips are a bit more applicable to the attending-level reader, and contain obvious echos of the pre-indexing investment era. Check it out for yourself here.

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Taxes Made Simple

Ready to know more about taxes than how to click through TurboTax and hope for the best? Start with this book. It's a great introduction for tax novices, covering all the basic concepts in simple language. The content covered should be sufficient to satisfy most beginners, but those looking for discussion advanced concepts will need to turn elsewhere (after all, it's only ~100 pages). Pick up your copy here and you'll be explaining the difference between a tax deduction and a tax credit to your friends in no time!

Living Trusts for Everyone

While it's unlikely that many residents will be setting up a trust while still in training, trusts are powerful estate planning tools that many physicians will end up using. This book is a fantastic introduction to trusts, packed with practical advice. Particularly if you have (or are planning to have) children and are approaching the end of your training, consider picking yourself up a copy of this book here.

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