Ndubuisi Egwim presents REST, a framework for doctors evaluating investments: Return, Effort, Stress, and Time. He recommends passive stock-market investing for busy clinicians, but first eliminate high-interest debt like credit cards, which can outweigh investment gains.
When I look at an investment, tell me there's an oil well in Peru, or let's go and buy out some oil well in Iran in the Strait of Hormuz, or buy some tankers and pay those. I'm like, okay, am I going to have rest in this thing? R is for return on the investment. How much return are we even talking about? But risk and return are two sides of a coin. They are the same thing to me. The way I look at them is you are taking more risk, you want to get more return. So that's R. E is for effort and energy I have to involve in it. The S is basically about S, how much stress is involved in it. And then T, the time, how quickly do you get your return. If you look at all this and you're a busy professional who doesn't want to leave what you're doing and become an expert in something or stressful stuff, you want to compound in the background, the stock market will be the way to start. One, you want to do the scrubs. The scrubs, the steps before you start investing, is like save first, you know, make sure that you deal with any high-interest debt. Because if you have a credit card that charges you $57,000. Now you're making an investment that gives you 10%. That means your math did not work, right?
