Middle English, Anglo-French, Latin resident-, residens, present participle of residäre. A resident is a person who occupies a home with the intention of making it their permanent or primary home. They can own the property or live there without a formal lease. The legal implications of being a resident include the right to privacy and the responsibility to maintain property. Dahle, MD, FACEP, FAAEM is a practicing emergency physician and founder of The White Coat Investor.
After multiple encounters with unscrupulous financial professionals early in his career, he embarked on his own self-study process to gain financial knowledge. After seeing the benefits of financial education in his own life, he was inspired to found The White Coat Investor to help his colleagues. At the time, there was no one to provide unbiased financial education to doctors at any time during their training. Now, more than a decade later, financial well-being is widely recognized as a fundamental life skill for all doctors and similar professionals.
Dahle remains committed to The White Coat Investor's original mission to “help those who wear white coats get a fair deal on Wall Street.” I'm glad that residents these days have the common sense to ask for financial help. That puts them way ahead of the typical doctor who graduated decades earlier and didn't have the resources like a white coat. I made practically every possible financial mistake and learned about FIRE by having my own litmus test. The good news is that, even with this belated financial awakening, radical change is still possible given the enormous size of our revenues. You can get out of debt much faster because we have bigger shovels than most (although our debt pile at the beginning is also much larger).
This email reminds me a lot of myself when I left training (except for everything related to in vitro fertilization, I am very sorry for the person who sent that email, it must be terrible to want to have children and have fertility problems). My wife and I were striving to make ends meet as residents, but we assumed that things would improve once we were in private practice. I, too, have just returned from a two-hour trip. A resident is a person who lives in a particular place, such as a city, state, or country, either temporarily or permanently.
The term resident can have different meanings depending on the context. In legal terms, a resident generally refers to someone who has established a primary residence in a specific area and intends to live there for an extended period. For example, a resident of a city is someone who lives in that city, as opposed to someone who only visits it. In medical terms, a resident can also refer to a doctor who has finished medical school and is receiving specialized training in a hospital. Residents are generally defined as those who have a long-term lease or lease agreement with the apartment complex or landlord.
The term tenant is often used interchangeably with resident, but there are some differences between the two terms. For example, a tenant sometimes doesn't even live in the property; they may simply be the person responsible for complying with the terms of the lease on behalf of the occupants. Even the process of evicting a tenant or tenant has the right to habitable housing, meaning that the landlord has a legal obligation to provide a safe environment and habitable. Nel Wright and Sula Peace are close friends and grew up in a town called The Bottom, but tragedy and a terrible secret cause their lives to change direction.
My opinion is that greater freedom for my future self is what I value, so I lean toward the end of the spectrum of “living like a resident” (even 9 years without training). While it's normally a noun, it can also be an adjective, as in the horror movie that nobody wants to live in, Resident Evil. The opposing ideas between “living like a resident” (restricting consumption, accumulating money early and paying off debt) and “softening consumption” (greater consumption, tolerance for indebtedness and a slower and smoother amortization rate) are intriguing. Understanding residency helps people navigate the legal framework that applies to where they live or work, ensuring that they know their rights and obligations. People with a temporary visa cannot be considered residents of the country for tax purposes, even if they live and work there for a period of time.
A resident is someone who lives in a specific location or a doctor in training who cares for patients in a hospital under the supervision of other doctors. Often, the terms tenant and resident are used interchangeably, but they can mean different things in the eyes of the landlord or be defined differently in terms of the lease. I mean, if you don't stop training until you're 35 and wait until then to start a family, the likelihood of not having any problems having children seems low. Tenants also have a right to privacy, meaning that the landlord cannot enter the property without prior notice, except in case of emergency.
Just live below your means, save between 10 and 20% if you invest in index funds and you will be financially independent between 65 and 70 dollars out of pure common sense.
