Money Meets Medicine

How to Invest for Your Kids (529s, Trump Accounts, Custodial IRAs)

thephysicianphilosopher@gmail.com (Justin Harvey, Jimmy Turner) — Wed, 8 Apr 2026 04:00:00 +0000

In this episode of the Money Meets Medicine podcast, Jimmy discusses how his daughter Grace just earned $120 from her first real babysitting gig — and it sparked a deep dive into the best ways to invest money for your kids. In this episode, Jimmy and Justin break down the major investment accounts available for children, including 529 plans, UGMA/UTMA accounts, custodial Roth IRAs, and the brand-new Trump accounts (plus who actually qualifies for the $1,000 seed money and the $250 Dell-funded option).

They also share what's actually worked in their own families to teach kids about money — from the three-jar system to Apple Pay allowances to the parent match strategy. Whether your kids aren't born yet or are already earning their own income, you'll walk away with a game plan for building financial literacy and long-term wealth for your family.

Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

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How to Negotiate Sign on Bonuses for Physicians

Wed, 1 Apr 2026 04:00:00 +0000

In this episode of Money Meets Medicine, Dr. Jimmy Turner and physician contract attorney Michael Johnson break down the personal finance side of physician compensation. From negative accrual contracts that treat your salary like a loan, to sign-on bonus clawback traps that can lock you into a bad job for years, they cover the financial landmines most doctors never see coming.

You'll learn why some doctors end up owing money back to their employer, how a collections-based pay model left one physician with a six-figure IRS bill, and the sneaky ways sign-on bonuses can limit your career flexibility. Michael also walks through retirement matching pitfalls (and how a change in 401k contributions can quietly cut your compensation by $15,000+), the hidden cost of maternity leave when bonus structures aren't prorated, and why so many physicians in production models stop taking vacations entirely.

Plus, practical strategies for negotiating reduced FTEs, flexible schedules, and better clawback terms — whether you're finishing training or considering a job change.

Topics covered: negative accrual contracts, physician sign-on bonus clawbacks, 401k/403b employer matching, maternity leave compensation, physician contract negotiation, reduced FTE scheduling, collections-based pay, estimated taxes for 1099 physicians, and disability insurance for residents.

Episode Links and Resources
Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Want to get a $100 discount to work with Michael Johnson Legal (a physician contract legal team)? Use this link --> https://moneymeetsmedicien.com/negotiate

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

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Should Physicians Buy or Rent? How Much Should A Doctor Spend Buying a Home?

thephysicianphilosopher@gmail.com (Justin Harvey CFP, Dr. Jimmy Turner) — Wed, 25 Mar 2026 04:00:00 +0000

In this episode, Jimmy and Justin break down the real numbers behind the buy vs. rent decision at every stage of the physician journey — from fourth-year med students who just matched, to residents weighing whether homeownership makes sense during a 3-4 year program, to new attendings figuring out how much house they can actually afford.

They cover Zillow's break-even data (hint: it takes about 4-5 years on average for buying to beat renting), why that number swings wildly by city (Cleveland is ~2 years, San Francisco is 15), the dangers of the "2-3x gross income" rule of thumb in a 6%+ rate environment, and why keeping your mortgage under a third of take-home pay is a better guardrail. Plus: why renting your first year as an attending might be the smartest financial move you make, the risks of physician home loans with no money down, and what self-employed doctors need to know before applying for a mortgage.

Whether you just matched, you're finishing residency, or you're eyeing a job change, this episode gives you the framework to make a housing decision that doesn't wreck your path to financial independence.

Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Resources:
Zillow White Paper: Buy Versus Rent

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

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How to Turn Credit Card Points into Free Travel (With Points by J)

thephysicianphilosopher@gmail.com (Jess Bohorquez, Jimmy Turner) — Wed, 18 Mar 2026 04:00:00 +0000

Dr. Jimmy Turner sits down with Jess Bohorquez, creator of Points by J and wife of an OB-GYN physician, to talk about how medical families can use credit card points to travel more without spending more. Jess left a corporate tech career to build a business helping people maximize credit card rewards, and she's grown her Instagram following to over 200,000 in the process.

In this episode, Jimmy and Jess cover why transferring points out of your credit card's travel portal gets you dramatically more value, how to audit your existing cards to make sure you're actually using the perks you're paying for, and why opening multiple credit cards doesn't destroy your credit score (as long as you're responsible). Jess also shares how she and her husband redeemed 209,000 points for a $13,000 stay at Miraval Arizona, and how they enjoyed over $35,000 in free travel to Hawaii and Japan in a single year.

They also discuss the current credit card landscape, including record-high signup bonuses, recent Hyatt point devaluations, and why now is a particularly important time to stay plugged into your points strategy.

P.S. Are you a physician? Then you need disability insurance. Get a quote from a company you can trust built by doctors, for doctors: https://moneymeetsmedicine.com/disability

Key topics: choosing a general travel card vs. co-branded cards, the credit card audit spreadsheet method, downgrading vs. canceling cards, booking 11 months out for peak travel dates, the "Plan B refundable fare" hack, and free point search tools like PointsYeah.com, Roame.travel, and MaxMyPoint.com.

Links mentioned:

Points by J on Instagram: @pointsbyj
Website: pointsbyj.com
Email: jess@pointsbyj.com
Free point search tools: PointsYeah.com, Roame.travel, MaxMyPoint.com

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Why Physicians Can Save Less and Still Retire Early (Update on The 4% Rule)

thephysicianphilosopher@gmail.com (Justin Harvey, Jimmy Turner) — Wed, 11 Mar 2026 04:00:00 +0000

What if you're saving more than you need to — and burning out in the process? In this episode, Jimmy shares how sitting down and doing the math changed his entire career trajectory, going from 1.3 FTE and antidepressants to part-time at 40 with a $2.1M net worth. Jimmy and Justin break down new research from Bill Bengen on safe withdrawal rates (spoiler: it may be higher than 4%), how to figure out what you actually need to retire, and why your future expenses are probably lower than you think. Plus, Justin shares the advisor's perspective on conservative assumptions, spending flexibility, and the risk of becoming a miser. Whether you're a DIY investor or working with an advisor, this episode will help you figure out your real number — and what to do once you know it.

Download the financial freedom calculator: https://moneymeetsmedicine.com/FIRE

Check out Medical Degree Financial University: https://moneymeetsmedicine.com/MDFU

Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

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How Much Should You Be Paid as a Physician?

thephysicianphilosopher@gmail.com (Jimmy Turner, Michael Johnson Legal) — Wed, 4 Mar 2026 04:00:00 +0000

In this episode of "Money Meets Medicine," Dr. Jimmy Turner and physician contract attorney Michael Johnson break down physician compensation models, exploring the complexities beyond base salary and signing bonuses. They discuss work RVUs, volume expectations, bonus structures, and the impact of practice setting, geography, and payer mix on total compensation. The hosts share real-world examples, highlight common pitfalls in contract negotiations, and stress the importance of understanding data sources like MGMA. They also emphasize the critical need for disability insurance during training, offering practical advice for early-career physicians evaluating job offers.

Get $100 off a physician contract review with Michael Johnson Legal: https://moneymeetsmedicine.com/negotiate

Check out Medical Degree Financial University: https://moneymeetsmedicine.com/MDFU

Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

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Why Doctors Save Too Much and Live Too Little

thephysicianphilosopher@gmail.com (Jimmy Turner, Justin Harvey) — Wed, 25 Feb 2026 04:00:00 +0000

Should physicians trade their time for money — or is that equation fundamentally broken? In this episode, we unpack why so many doctors save too much for too long, sacrificing their best years to build a nest egg they struggle to spend. Drawing from Vicki Robin's Your Money or Your Life, Morgan Housel's Psychology of Money, and Bill Perkins' Die With Zero, we explore a healthier framework for thinking about time, money, and financial independence as a physician.

Jimmy also shares a major personal update — after nearly twenty years at Wake Forest, he's making a career change that trades income for autonomy. No more nights, weekends, or holidays, but it comes at a real financial cost. It's the perfect case study for everything we discuss in this episode.

We break down the three stages of a doctor's financial life — from residency where you have neither time nor money, to mid-career where you finally have income but no time, to financial independence where you get both back. The problem? Most physicians get stuck in the middle stage far longer than they need to because of identity inertia, golden handcuffs, lifestyle lock-in, and the fear of earning less.

If you've ever wondered whether you should work less, take the pay cut, or keep grinding toward a number — this one's for you.

Don't forget to:

Check out Medical Degree Financial University at moneymeetsmedicine.com/MDFU
Grab a free copy of The Physician Philosopher's Guide to Personal Finance at moneymeetsmedicine.com/freebook or
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Why the FIRE Movement Fails Physicians (And What to Do Instead)

thephysicianphilosopher@gmail.com (Jimmy Turner, Justin Harvey) — Wed, 18 Feb 2026 04:00:00 +0000

In this episode of "Money Meets Medicine," hosts Justin Harvey and Dr. Jimmy Turner explore the FIRE (Financial Independence Retire Early) movement’s relevance for physicians. They discuss the psychological and practical challenges of pursuing FIRE, such as the importance of purpose beyond early retirement, the impact of extreme frugality on relationships, and the need to align financial goals with personal values. The hosts also highlight the critical role of disability insurance and stress viewing money as a tool for creating a meaningful, balanced life, rather than simply an escape from work.

Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Take one of our free personal finance classes at Medical Degree Financial University: https://moneymeetsmedicine.com/MDFU

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

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Dumb Money Mistakes Smart Doctors Make

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 11 Feb 2026 14:50:31 +0000

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss how physicians, despite their intelligence, can make grave financial mistakes. They explore the importance of early disability insurance acquisition, share personal anecdotes of financial blunders, and emphasize the necessity of modesty and continuous learning in personal finance. The hosts highlight biases such as complexity bias, authority bias, and myopic loss aversion, which frequently lead to poor investing decisions. They advocate for the importance of having a written investment plan and understanding personal finance basics to avoid blindly trusting financial advisors. The episode concludes with a discussion on the value of intellectual humility and vulnerability in making sound financial decisions.

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Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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3 Career Paths Hidden Inside Every Physician Contract

Wed, 4 Feb 2026 04:00:00 +0000

Dr. Jimmy Turner and Michael Johnson, a physician contract attorney, break down the main types of physician employment: classic academic roles, future business ownership in private practice, and perpetual employment. They discuss the financial and professional implications of each, emphasizing the importance of contract negotiation, student loan strategies (especially PSLF), and understanding practice ownership agreements. Real-life examples highlight risks, benefits, and ethical considerations, equipping physicians with practical advice to align employment choices with their financial goals, values, and desired work-life balance. The episode stresses the need for careful planning and ongoing financial education for medical professionals.

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If I Started All Over Again

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner, Justin Harvey CFP) — Wed, 28 Jan 2026 04:00:00 +0000

In this "Money Meets Medicine" episode, hosts Justin Harvey and Dr. Jimmy Turner discuss the most impactful financial strategies for physicians, drawing on Jimmy’s decade of experience post-training. They highlight the importance of saving 30% of gross income early, leveraging compound interest, and prioritizing high-yield actions like mortgage refinancing. The hosts debunk common myths, such as the overemphasis on backdoor Roth IRAs and real estate investing, and advocate for intentional, personalized financial planning. They also explore creating non-clinical income streams, empowering physicians to achieve financial independence and greater work-life balance.

Take one of the personal finance classes you wish you had in medical school through Medical Degree Financial University: https://moneymeetsmedicine.com/MDFU

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Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit

https://moneymeetsmedicine.com/freebook

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Buying Too Much House? Derailing Doctor’s Finances

thephysicianphilosopher@gmail.com (Justin Harvey CFP, Dr. Jimmy Turner) — Wed, 21 Jan 2026 04:00:00 +0000

In this episode of Money Meets Medicine, Dr. Jimmy Turner and Justin Harvey explore the financial and emotional complexities of home buying for physicians after training. They discuss the trade-offs between purchasing move-in-ready homes versus fixer-uppers, managing renovation costs, and understanding return on investment. The hosts emphasize the importance of aligning home-buying decisions with personal values, long-term financial planning, and cash flow realities. They share practical strategies for financing renovations and highlight that homeownership is as much about emotional well-being and lifestyle fit as it is about financial calculations.

Check out Medical Degree Financial University: https://moneymeetsmedicine.com/MDFU

Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

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Talking Money With Family: Inheritance, Guilt, and Setting Financial Boundaries

thephysicianphilosopher@gmail.com (Justin Harvey, Jimmy Turner) — Wed, 14 Jan 2026 04:00:00 +0000

In this episode of "Money Meets Medicine," Dr. Jimmy Turner and Justin Harvey CFP tackle the often awkward money conversations that arise during family gatherings, especially around the holidays. They share personal stories and professional advice on discussing topics like inheritance, financial support for aging parents, and estate planning. The hosts emphasize the importance of honest communication, setting boundaries, and involving financial advisors when needed. Listeners are encouraged to start these conversations early to prevent misunderstandings, protect relationships, and ensure smoother financial planning within families.

Looking to learn about the personal finance topics every doctor needs to know about? Check out one of our classes inside of Medical Degree Financial University: https://moneymeetsmedicine.com/mdfu

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Get your free copy here--> https://moneymeetsmedicine.com/freebook

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The 3 Most Important Aspects of a Physician Contract with Michael Johnson Legal

thephysicianphilosopher@gmail.com (Michael Johson, Jimmy Turner) — Wed, 7 Jan 2026 04:00:00 +0000

In this kickoff episode of a multi-part series on physician contracts, Dr. Jimmy Turner and attorney Michael Johnson break down why understanding contract terms is crucial for physicians. They introduce the “contract trinity”—work obligations, compensation, and exit strategy—and discuss employer motivations, legal considerations, and common pitfalls like non-competes and clawbacks. Real-world examples highlight the risks of “standard” contracts and the importance of negotiation. The episode emphasizes that contract literacy is essential for career and financial well-being, setting the stage for deeper dives into contract topics in future episodes.

Looking to create a financial plan specific for physicians? Join Medical Degree Financial University: https://moneymeetsmedicine.com/mdfu

Get $100 off a physician contract review with Michael Johnson Legal by booking a time through moneymeetsmedicine.com/negotiate

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit

https://moneymeetsmedicine.com

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Neurodivergence, Money, and Luxury Cruising with Dr. Krystal Sodaitis

thephysicianphilosopher@gmail.com (Krystal Sodaitis, Jimmy Turner) — Wed, 31 Dec 2025 04:00:00 +0000

In this episode of "Money Meets Medicine," Dr. Jimi Turner interviews Dr. Krystal Sodaitis, a physician, executive coach, and luxury cruise podcaster. They discuss the challenges and strengths of neurodivergent physicians, including how ADHD and dyslexia can impact financial decisions. Dr. Sodaitis shares strategies for managing impulsivity and highlights the importance of tailored financial planning. The conversation then shifts to luxury cruising, covering how to choose the right cruise, the benefits of travel agents, and what sets luxury cruises apart. The episode offers practical advice for both neurodivergent professionals and aspiring luxury travelers.

Krystal’s Coaching Website: Neurodiversedocs.com

Krystal’s podcast: luxurycruising.net/podcast

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___________

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Jimmy Changes Jobs (Academics to Private Practice)

thephysicianphilosopher@gmail.com (Justin harvey cfp, Dr jimmy turner) — Wed, 24 Dec 2025 04:00:00 +0000

In this episode of "Money Meets Medicine," Dr. Jimmy Turner shares his journey transitioning from nearly 20 years at Wake Forest to a private practice role at Iredell Memorial Hospital. He and host Justin Harvey discuss the professional, financial, and personal factors behind the move, including healthcare consolidation, contract negotiation, and work-life balance. Dr. Turner reflects on identity, adapting to new clinical environments, and the importance of maintaining professional relationships. The episode offers practical advice for physicians considering career changes, emphasizing thoughtful decision-making, self-advocacy, and aligning work with personal values.

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End of Year Financial Tasks

thephysicianphilosopher@gmail.com (Justin Harvey CFP, Dr. Jimmy Turner) — Wed, 17 Dec 2025 04:00:00 +0000

In this episode of "Money Meets Medicine," Dr. Jimmy Turner and Justin Harvey CFP share a comprehensive year-end financial checklist for physicians. They discuss maximizing contributions to tax-advantaged accounts, coordinating retirement savings during job transitions, managing tax withholdings and 1099 income, and optimizing investment portfolios through rebalancing and tax loss harvesting. The hosts also cover charitable giving strategies using donor-advised funds, tax planning for self-employed physicians, insurance reviews, and important deadlines for 529 plans, RMDs, and Roth conversions—offering practical advice to help medical professionals finish the year financially strong.

Not sure where to start? Join the once-weekly MMM Update where we send a personal finance lesson of the week to your inbox in addition to that week's content and exclusive deals and discounts: https://moneymeetsmedicine.com/update

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The 401(k) Vigilante: Are Hidden Retirement Fees Stealing Doctors’ Money? (Paul Sippil)

thephysicianphilosopher@gmail.com (Paul Sippil, Dr. Jimmy Turner) — Wed, 10 Dec 2025 04:00:00 +0000

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner talks with Paul Sippil, a forensic retirement consultant known as the '401k vigilante.' The discussion focuses on the hidden, layered, and unnecessary fees often found in 401k and 403b plans that cost participants thousands over time. They explore the technical aspects of these fees, the Form 5500, and how small and large practices differ in fee structures. Sippil provides insights into negotiating fees, the roles of various service providers in administering retirement plans, and the importance of employers paying administrative costs to maximize tax benefits.

Learn more about Paul Sippil here --> https://www.paulsippil.com

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Tax Loss Harvesting $35,000 (Jimmy's Financial Wins)

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner) — Wed, 3 Dec 2025 04:00:00 +0000

This is the 250th episode of the Money Meets Medicine podcast! What better way to celebrate than to talk about Jimmy's financial journey over the last 8 years since finishing training. In this episode, Jimmy shares some of his family's personal financial milestones and some recent financial wins, including a big tax loss harvesting event.

Topics discussed on the show:

Paying off student loans
Jimmy's family's Net Worth
Highlighting key financial principles like avoiding the Diderot Effect and leveraging compounding interest.
The Big Tax Loss Harvesting event involving Bitcoin.

Looking to get started on your own bitcoin journey? Download Jimmy's Beginner's Guide to Bitcoin here: https://moneymeetsmedicine.com/bitcoin

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The IUL Lawsuit Every Physician Investor Should Know About

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner, Justin Harvey CFP) — Wed, 26 Nov 2025 04:00:00 +0000

NASCAR star Kyle Busch is suing Pacific Life after losing millions in a complex index universal life (IUL) insurance strategy—and the lessons for physicians are huge. In this episode, Dr. Jimmy Turner and Justin Harvey break down what happened, why complexity and “trust-based” sales tactics so often burn high-income professionals, and how to protect yourself from misleading financial products and advisors. Whether you’re a physician navigating insurance pitches, investment opportunities, or affinity-based recommendations, this real-world case is a must-listen.

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Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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Physician Real Estate Syndications Gone Wrong: Affinity Fraud, Capital Calls, & How to Protect Yourself

thephysicianphilosopher@gmail.com (Justin Harvey CFP, Dr. Jimmy Turner) — Wed, 19 Nov 2025 04:00:00 +0000

In this episode of the Money Meets Medicine podcast hosted by Justin Harvey and Dr. Jimmy Turner, the discussion centers on recent developments in physician finance, particularly around real estate syndication deals and capital calls. Dr. Turner delves into the financial pitfalls and lessons from particular real estate investments targeted at physicians. They discuss the concept of 'affinity fraud,' where trusted social or professional bonds are exploited for financial gain, and dissect why such investments are often riskier than they appear. The conversation also touches on the importance of understanding compensation models and incentives when receiving financial advice, the necessity of due diligence, and the role of being an accredited investor.

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Download a free copy of The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook

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1099 vs W2 for Physicians: How to Compare Offers, Taxes, Benefits, and Real Take-Home Pay

thephysicianphilosopher@gmail.com (Justin Harvey, Dr. Jimmy Turner) — Wed, 12 Nov 2025 04:00:00 +0000

In this episode of "Money Meets Medicine," hosts Justin Harvey and Dr. Jimmy Turner discuss the financial pros and cons of working as a 1099 independent contractor versus a W-2 employee, focusing on tax implications, benefits, and administrative responsibilities. The hosts emphasize the need for professional financial guidance and encourage listeners to carefully weigh all factors—including taxes, benefits, and personal preferences—when evaluating job offers in medicine.

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Timestamps by PodSqueezeCertainly! Here are the top 5 bullet points, keeping the same format, content, and context:

Introduction to 1099 vs W-2 (00:00:00)**

Hosts introduce the episode’s focus: comparing 1099 contractor and W-2 employee pay for medical professionals.

Highlights:

Tax Differences: Employer vs Employee Side (00:07:29)**

Apples-to-Apples Comparison: Taxes, Malpractice, Benefits (00:10:41)**

Complexity and Costs of Self-Employment (00:17:28)**

Rule of Thumb: 1099 Should Pay 20–30% More (00:25:15)**

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Should You Refinance Your Mortgage After the Fed Rate Cuts? How to Know When It Actually Makes Sense

thephysicianphilosopher@gmail.com (Dr jimmy turner, justin harvey) — Wed, 5 Nov 2025 04:00:00 +0000

The Fed just cut interest rates — but does that mean YOU should refinance your mortgage or student loans? In this episode, Jimmy and Justin break down how rate cuts actually impact real life borrowing costs, what the media gets wrong about “market reactions,” and when refinancing actually makes financial sense. We walk through what break-even math looks like, why refinancing federal student loans can be a massive mistake for doctors, and how to think about future rate cuts that may be coming.

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Why Financial Literacy Should Be Mandated by the ACGME

thephysicianphilosopher@gmail.com (Justin Harvey, Jimmy Turner) — Wed, 29 Oct 2025 04:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss how financial burdens impact medical professionals' personal lives, academic performance, and career decisions. They explore various studies that demonstrate these effects, covering topics such as increased stress levels, delayed life decisions like marriage and children, negative impacts on academic performance, and challenges faced when managing student loan debt. Additionally, they delve into the ethical concerns related to financial incentives in medical practice. The episode also emphasizes the importance of financial literacy for medical residents and offers practical solutions for incorporating financial education into residency programs, drawing on Justin's experience in delivering such talks.

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Investing locally, non-competes, and inheritances

thephysicianphilosopher@gmail.com (Justin Harvey CFP, Jimmy Turner MD) — Wed, 22 Oct 2025 04:00:00 +0000

In this episode of Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss the importance of understanding non-compete clauses in physician contracts and strategies for negotiating favorable terms. They answer listener questions covering investment options outside of traditional index funds, including local investments, real estate, and lending to peers. The conversation also touches upon the allocation of inherited funds to maximize growth and tax efficiency while honoring the legacy of the gift. Additionally, they emphasize the significance of liquidity and the benefits of having an emergency fund to handle irrational institutional decisions. The episode stresses empowering physicians to leverage their positional advantages effectively.

Looking for disability insurance from a source you can trust? Get a quote from https://moneymeetsmedicine.com/disability

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Is Your Emergency Fund Too Big (Updated)?

thephysicianphilosopher@gmail.com (Justin Harvey, Jimmy Turner) — Thu, 16 Oct 2025 18:43:26 +0000

What if your emergency fund is actually too big? In this week’s episode, Dr. Jimmy Turner and Justin Harvey tackle that question — plus a few more from listeners in another grab-bag style show that blends practical advice with behavioral finance insights. Specifically they tackle:

When to Drop Life & Disability Insurance:
How to decide if you’re truly financially independent enough to cancel term life or long-term disability — and why many physicians pull the trigger too early.

Lease or Buy That New Car?:
With income jumps and lifestyle creep in mind, they unpack whether to lease a luxury SUV or buy something mid-range, how financing fits into a high-income household, and why automating your financial goals should come before upgrading your ride.

The “Too Big” Emergency Fund Debate:
How much cash should high earners keep on hand — and why disagreements over emergency funds often trace back to money stories and emotional experiences around security and scarcity.

From peace-of-mind trade-offs to spousal financial dynamics, this episode dives deep into the intersection of math, mindset, and marriage.

👉 Resources Mentioned:

Free Book: The Physician Philosopher’s Guide to Personal Finance — moneymeetsmedicine.com/freebook

Disability Quotes: moneymeetsmedicine.com/disability

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Is Your Emergency Fund Too Big?

thephysicianphilosopher@gmail.com (Jimmy Turner, Justin Harvey) — Thu, 16 Oct 2025 12:54:53 +0000

From peace-of-mind trade-offs to spousal financial dynamics, this episode dives deep into the intersection of math, mindset, and marriage.

👉 Resources Mentioned:

Free Book: The Physician Philosopher’s Guide to Personal Finance — moneymeetsmedicine.com/freebook

Disability Quotes: moneymeetsmedicine.com/disability

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

How Money Stories Shape Wealth (and Jimmy Turns 40)

thephysicianphilosopher@gmail.com (Justin Harvey CFP, Dr. Jimmy Turner) — Wed, 8 Oct 2025 04:00:00 +0000

Did you know that 90% of families lose their wealth by the third generation? In this thought-provoking episode, Justin Harvey and Dr. Jimmy Turner unpack how our earliest experiences with money—whether it’s growing up with scarcity, abundance, or something in between—profoundly shape our financial mindsets as adults.

Jimmy reflects on turning 40, childhood memories of bankruptcy, and how those experiences created a scarcity mindset he’s had to actively overcome. Justin shares insights from working with clients whose core money beliefs—formed in childhood—still drive their decisions decades later. Together, they explore how to move from victim to victor when it comes to financial identity, and how to help your children build healthy money habits even in an environment of abundance.

From practical parenting tips to mindset shifts, this episode blends personal reflection, financial psychology, and real-life stories to help you rewrite your own money narrative—and guide the next generation to do the same.

👉 Learn more about physician-specific disability insurance at https://moneymeetsmedicine.com/disability

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Open Enrollment: HSAs, 401(k)s, and Pensions Explained

thephysicianphilosopher@gmail.com (jimmy turner, justin harvey) — Wed, 1 Oct 2025 04:00:00 +0000

It’s open enrollment season—Dr. Jimmy Turner and Justin Harvey CFP break down HSAs, retirement plan changes, and pensions to help physicians make smarter benefit decisions without the overwhelm.

Looking for disability insurance? Get it from a source you can trust here at Money Meets Medicine Disability Insurance (https://moneymeetsmedicine.com/disability)

Download a free copy of The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook

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Rollovers, SEP IRAs, and Saving a Down Payment

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 24 Sep 2025 04:00:00 +0000

In this episode of Money Meets Medicine, Dr. Jimmy Turner and Justin Harvey answer listener-submitted questions about what to do with your money when you switch jobs or retire. Topics include:

• Old Employer Plans: Should you roll over a 401(k)/403(b) to your new employer plan, leave it, or move it to an IRA? They explain how each option impacts your ability to do backdoor Roth IRAs.

• Home Savings Strategy: Tips for physicians saving for a home purchase—where to park cash for 6–12 months without missing growth potential.

• Solo 401(k) vs. SEP IRA: For side gig income, they break down which one gives you better Roth conversion flexibility.

• Financial Advisor Red Flags: The duo calls out one especially egregious example of poor advisor behavior—and what every doctor should watch out for.

• Extra Pro Tips: Including why not all Roth accounts are created equal, how to simplify your accounts in retirement, and the best ways to avoid “analysis paralysis” when making account moves.

This episode is packed with tactical advice and practical insights for physicians navigating career transitions, early retirement, or side income.

Get a quote on own-occupation disability insurance from a company you can trust at https://moneymeetsmedicine.com/disability

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Should Physicians Invest in Bonds?

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 17 Sep 2025 04:00:00 +0000

In this episode of Money Meets Medicine, Justin Harvey and Dr. Jimmy Turner tackle a classic investing question: do high-earning physicians really need bonds in their portfolio?

They break down:

Why Jimmy avoids bonds (less than 5% of his portfolio) and instead leans heavily on diversified index funds.

When bonds can make sense, such as reducing volatility for investors nearing retirement or with specific cash needs.

How bonds actually work: creditworthiness, yields, coupons, and the role of interest rate sensitivity (a.k.a. duration).

The risks of “safe” bonds, including how inflation and rising interest rates can erode returns and undermine their role as a portfolio stabilizer.

Practical strategies: bond ladders, TIPS (Treasury Inflation-Protected Securities), short-duration ETFs, and asset location (where bonds belong in taxable vs. retirement accounts).

Are you a physician looking for own-occupation disability insurance from an agency you can actually trust? Visit https://moneymeetsmedicine.com/disability

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Is Real Estate Bad for Doctors?

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 10 Sep 2025 04:00:00 +0000

In this episode of Money Meets Medicine, Dr. Jimmy Turner and Justin Harvey tackle the hype around real estate investing for physicians. Despite years teaching personal finance, Jimmy reveals he owns zero real estate—and explains why that’s intentional.

The duo explores the four major reasons real estate isn’t the right fit for Jimmy:

It’s a Second (or Third) Job – With a busy career in medicine and financial education, Jimmy isn’t interested in managing properties or even managing property managers.

Illiquidity – Tying up large chunks of money in illiquid deals (like syndications) doesn’t align with his need for flexibility.

Tax Complexity – Real estate’s tax benefits can come with audit risks and a need for specialized accountants—adding more layers to an already complex financial life.

FOMO (Fear of Missing Out) – Too many doctors get lured in by hype and peer pressure, not by sound financial strategy.

Justin adds insights from his financial planning practice, noting generational differences in attitudes toward real estate and highlighting the dangers of chasing "sexy" investments without considering your goals and risk profile.

Plus, Jimmy plugs his Beginner’s Guide to Bitcoin for Busy Doctors, available at moneymeetsmedicine.com/bitcoin.

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Why Doctors Should Save Less and Spend More (Revisiting The 4% Rule)

thephysicianphilosopher@gmail.com (Justin Harvey, Jimmy Turner) — Wed, 3 Sep 2025 04:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss the potential to spend more money in retirement with less savings, challenging traditional financial independence norms, particularly the well-known 4% rule from the Trinity study. They explore a new study suggesting the safe withdrawal rate could be closer to 5-5.5%, which has significant implications for how soon one can achieve financial independence. The hosts also emphasize the importance of diversification in investments, considering the impact of factors like recent stock market performance and government economic interventions. The episode concludes with practical advice for physicians dealing with burnout, highlighting various career and financial flexibility strategies that can offer hope and options.

Looking for own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability

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One Big Beautiful Bill Impact on Your Finances

thephysicianphilosopher@gmail.com (justin harvey cfp, dr jimmy turner) — Wed, 27 Aug 2025 04:00:00 +0000

In the latest episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner discuss the potential effects of the 'one big beautiful bill' on physicians' personal finances. They highlight important aspects such as changes to student loan borrowing limits, auto loan interest deductions, and salt tax changes that could affect both residents and attending physicians. The episode also covers the potential influence of AI on career choices in the medical field. The hosts share their personal travel experiences and delve into topics related to financial literacy and strategic planning.

Every doctor needs disability insurance. Get a quote from the company you can actually trust: https://moneymeetsmedicine.com/disability

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Why You Shouldn't Invest in Bitcoin (Part 3)

thephysicianphilosopher@gmail.com (dr jimmy turner) — Wed, 20 Aug 2025 04:00:00 +0000

In this solo episode of the Money Meets Medicine podcast, Dr. Jimmy Turner dives into various aspects of Bitcoin, including breaking down common criticisms and questions about the cryptocurrency. He discusses its security, value, and the reasons why he decided to invest in Bitcoin. Jimmy addresses concerns such as Bitcoin's intrinsic value, security vulnerabilities, the impact of government regulations, and its volatility. He also highlights the importance of continued education and research about Bitcoin.

If you are a physician, you need disability insurance. Get a quote from a source you can trust at https://moneymeetsmedicine.com/disability

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5 Reasons I Invest in Bitcoin (Part 2)

thephysicianphilosopher@gmail.com (Dr jimmy turner) — Wed, 13 Aug 2025 04:00:00 +0000

In this episode, Dr Jimmy Turner discusses why he decided to invest in bitcoin from a purely investment standpoint. And - if you stick around until the end of the episode - he even talks specifically through how I invest in Bitcoin (in other words what services etc I use to do so). We discuss outsized returns, the problems it solves, what would happen if you don't invest in it, and much more.

If you are a physician looking for disability insurance, get a quote from a source you can trust by visiting https://moneymeetsmedicine.com/disability

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I Sold My Car for Bitcoin

thephysicianphilosopher@gmail.com (Dr Jimmy Turner) — Wed, 6 Aug 2025 04:00:00 +0000

In this first episode in a three part series, host Dr. Jimmy Turner discusses why he sold his Cadillac Blackwing and bought Bitcoin. He talks about the use cases of bitcoin he finds most interesting and dives into some of the basics behind why he views it as a worthwhile part of this portfolio. Specifically, Jimmy discusses digital sovereignty, trustless ledgers, decentralized control, and the outsized impact bitcoin can have as a balance to the rest of your portfolio.

Need own occupation disability insurance from a source you can trust? Get a quote at https://moneymeetsmedicine.com/disability

Or snag a free copy of Jimmy's best-selling book The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook

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Financial Burdens of Aging Parents

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 30 Jul 2025 04:00:00 +0000

Have you ever thought about what it would cost to take care of your parents as they get older, or are you in the midst of it now? That's exactly what Dr. Jimmy Turner and Dr. Rebecca Tapia discuss on this episode of Money Meets Medicine. On this show, the hosts dive into the cost of aging parents, potential burdens that may be faced (both those that are obvious and those you may not think about), and how to mitigate the financial impact of caring for those we love.

If you are just getting started on your financial journey, download a free copy of Dr. Turner's best-selling book The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook

If you need to get disability insurance (from someone you can actually trust), get a quote at https://moneymeetsmedicine.com/disability

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Is Fellowship Worth the ROI?

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 23 Jul 2025 04:00:00 +0000

Fellowship isn't for every resident physician to pursue, but for some it makes sense... but does it make financial sense? That is what Dr. Jimmy Turner and co-host Justin Harvey CFP discuss in this episode of Money Meets Medicine. The financial implications of pursuing a fellowship. Is it worth the return on investment?

If you are looking to get your financial literacy journey started, download a free copy of Jimmy's book The Physician Philosopher's Guide to Personal Finance here: https://moneymeetsmedicine.com/freebook

Need disability insurance, but not sure who to trust? Get a quote at https://moneymeetsmedicine.com/disability

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Jimmy's Worst Financial Mistakes

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 16 Jul 2025 04:00:00 +0000

In this episode of Money Meets Medicine, the host Dr. Jimmy Turner discusses some of his worst financial mistakes and what he learned from each mistake so that others don't have to do the same. Specifically, he discusses mistakes with student loans, Jimmy's journey leaving the white coat investor network after becoming one of the four original partners, and more.

If you are a physician looking for a financial advisor, check out Justin Harvey CFP by visiting https://apm-wealth.com/

Need disability insurance? Get a quote at https://moneymeetsmedicine.com/disability

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Firing Your Financial Advisor

thephysicianphilosopher@gmail.com (justin harvey, jimmy turner) — Wed, 9 Jul 2025 04:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosted by Dr. Jimmy Turner and his co-host Justin Harvey, they discuss the potential financial consequences of sticking with the wrong financial advisor during one's career and retirement. They emphasize the importance of financial literacy for physicians, highlighting three groups of doctors based on their financial advisory needs: do-it-yourselfers, those who need help with fine-tuning, and those who prefer to outsource entirely. The discussion covers red flags that signal a problematic advisor, such as lack of fee transparency and inadequate knowledge of physician-specific financial needs. They also provide practical advice on how to fire a financial advisor, stressing the importance of being transparent and clear. They conclude with resources for finding the right advisor and emphasize the value of technical competency and integrity in financial advising.

Looking for a good financial advisor? Check out Justin at https://apm-wealth.com/

Need own-occupation disability insurance? Get quotes here: https://moneymeetsmedicine.com.disability

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The Retirement Math Hack

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 2 Jul 2025 04:00:00 +0000

In this episode, hosts Justin Harvey CFP and Dr. Jimmy Turner discuss the financial strategy revealing that $10,000 of income in retirement is equivalent to having $250,000 in retirement savings. They explore how physicians can plan for retirement, potentially requiring less money by generating passive income sources. The discussion includes the FIRE (Financial Independence Retire Early) movement, the 25X rule, and sequence of return risk.

Get disability insurance quotes at https://moneymeetsmedicine.com/disability

Or download a free copy of the best-selling book The Physician Phillosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook

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Financial Milestones to Celebrate

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 25 Jun 2025 04:00:00 +0000

Dr. Jimmy Turner and co-host Justin Harvey reflect on the major financial milestones that doctors often aim for—and why tracking progress matters so much for financial motivation, clarity, and well-being. Join in as they tackle net worth goals, how Jimmy paid off $200,000 in student loans, and other milestones worth celebrating on the physician financial journey.

If you are just getting started on your financial journey, make sure to download a free copy of Jimmy's book The Physician Philosopher's Guide to Personal Finance: https://moneymeetsmedicine.com/freebook

Looking for disability insurance from an agency you can actually trust? Get quotes at https://moneymeetsmedicine.com/disability

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Fighting Burnout with Financial Independence

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 18 Jun 2025 04:00:00 +0000

What if I made you pick the one priority that was above all others? And how does money help us actually live that out? In this episode Dr. Jimmy Turner talks with Justin Harvey CFP about his journey through burnout, cutting back from medicine, and eventually coming back to full-time medicine after sorting it all out. What has he learned? How did personal finance play a part in helping Jimmy carve out a careeer he loves? They discuss this all and more on this episode of Money Meets Medicine.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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Leasing versus Buying a Car

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 11 Jun 2025 04:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner delve into the considerations physicians should make when deciding to lease or buy a car. The episode explores personal anecdotes, financial implications, and practical advice on car ownership. Dr. Turner discusses his experiences with owning multiple cars and the practicality of vehicles for a busy family life. Harvey and Turner also emphasize the importance of evaluating one's values, future circumstances, and financial goals before making car-related decisions. They underline the potential advantages and pitfalls of leasing, particularly for those who frequently change vehicles.

Need disability insurance? Get a quote from https://moneymeetsmedicine.com/disability

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Making Disability Insurance Affordable

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 4 Jun 2025 04:00:00 +0000

In this episode Dr. Jimmy Turner and Michael Kittner discuss how to make disability insurance more affordable, particularly while in training. They also cover certain kinds of guaranteed standard issue disability insurance policies that only exist while in training - and why it is a catastrophic financial mistake for a lot of doctors if they wait until after training to get disability insurance.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

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Inheriting Money - good, bad, and ugly

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 28 May 2025 04:00:00 +0000

In this episode of the Money Meets Medicine podcast, Dr. Jimmy Turner and co-host Justin Harvey CFP discuss various implications and strategies regarding sudden inheritance of assets, including vehicles, cash, stocks, and trusts. They emphasize the importance of strategic financial planning and timely decision-making to optimize tax benefits, avoid financial pitfalls, and preserve family relationships. They highlight specific examples such as the step-up in basis for stocks, tax implications of inherited IRAs, and the psychological impacts of lump sum versus dollar cost averaging in investment. The episode also underscores the necessity of having a well-communicated estate plan to prevent family disputes and ensure coherent asset distribution.

Additionally, it touches on the importance of obtaining disability insurance, particularly for medical trainees, and offers resources for financial planning guidance. Need your own disability insurance? Get the kind built for doctors by doctors at https://moneymeetsmedicine.com/disability

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Getting on the Same Financial Page with OtherSide Med

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 21 May 2025 04:00:00 +0000

In this episode, host Dr. Jimmy Turner interviews Dr. Hannah Thompson and her husband, Chris Herring, from OtherSide Med. They talk about handling finances in residency, getting on the same page with your spouse financially which applies to more than just those in training. And we're even gonna touch on disability insurance and Hannah's journey and doing the due diligence and ending up getting disability insurance.

If you need disability insurance, make sure to check out Money Meets Medicine Disability Insurance by visiting https://moneymeetsmedicine.com/disability

To checkout OtherSide Med visit: https://www.instagram.com/theothersidemed/

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Why Doctors Should Save Less Money

thephysicianphilosopher@gmail.com (Dr Jimmy Turner, Justin Harvey CFP) — Wed, 14 May 2025 04:00:00 +0000

In this episode, Dr. Jimmy Turner and Justin Harvey CFP discuss a common journey from financial independence, retire early (FIRE) to Die with Zero mentalities as doctors learn more about money and have more lived experience. They discuss specific tools to help you determine what you should be spending money on (and how much), financial arrival fallacies, and the importance of using money as means to an end and not the end itself.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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3 reasons every doctor should consider locum tenens work

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 7 May 2025 04:00:00 +0000

In this episode, Dr. Jimmy Turner and Dr. Kirk Heath talk all things locum tenens, physician entrepreneurship, and how financial independence helps doctors practice medicine on their terms. They discuss Kirk's journey from practicing full-time as a surgeon in a private practice setting to his journey into locums. They take a deep dive into how locums helps doctors individually, how it may be a solution to systemic problems in medicine, and touch on the financial aspects of working as a 1099 versus a W2 physician.

Want to learn more about locum tenens? Make sure to check out LocumStory by visiting https://moneymeetsmedicine.com/locums

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Tariffs and Tanking Markets

thephysicianphilosopher@gmail.com (Dr Jimmy Turner, Justin Harvey CFP) — Wed, 30 Apr 2025 04:00:00 +0000

In this episode of the 'Money Meets Medicine' podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss strategies for managing personal finances during market downturns, specifically focusing on the impact of recent tariffs imposed by Trump in April 2025. They emphasize the importance of having a solid investment plan and understanding market history to mitigate psychological stress during volatile periods. The conversation covers the importance of diversification, the benefits of tax loss harvesting, and how to handle significant cash reserves during market dips.

Wanting to get started on your financial journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance: https://moneymeetsmedicine.com/freebook

Looking to get own-occupation disability insurance from a source you can trust? Get a quote at https://moneymeetsmedicine.com/disability

Rolling returning averages for the S&P 500: https://www.advisorpedia.com/chart-center/time-in-the-market-not-timing-the-market/

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Music and Medicine with Dr. Ben Vipler and Dr. Sam Porter

Wed, 23 Apr 2025 00:00:00 +0000

This episode is sponsored by Locumstory. Your source for all things locums.

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Ben and Sam are doctors who don’t just heal with medicine—they create with music. In this episode, they talk about their parallel paths from the East Coast to Colorado, their shared musical background, and how they balance both call schedules and band rehearsals. Sam shares the highs of performing at Red Rocks, while Ben discusses navigating military service and academic transitions. They also unpack the inspiration behind their podcast, Crescendo de Crescendo, a thoughtful series about how medicine and music inform and elevate each other. This episode blends passion, purpose, and practical advice for any clinician exploring life beyond the white coat.

Dr. Ben's Bio

Dr. Ben is an internal medicine physician who transitioned from a military medical career to academic medicine. He served as a Lieutenant Commander in the U.S. Navy, completed his residency and a chief resident year at Walter Reed, and later worked as an Associate Program Director in a military academic health center. After his military service, Dr. Ben pursued a medical education fellowship at Penn State, where he collaborated with Dr. Paul Haidet on research exploring the intersection of music and medicine. This collaboration inspired the creation of the podcast Crescendo de Crescendo, which he co-hosts with Dr. Sam.

Dr. Sam's Bio

Dr. Sam is an internal medicine physician and musician based in Colorado. He is a member of the band Dark Arts, which blends elements of folk, alternative, and psychedelic rock. The band gained notable recognition by performing at the renowned Red Rocks Amphitheater. Balancing his medical career with his passion for music, Dr. Sam co-hosts the podcast Crescendo de Crescendo alongside Dr. Ben, where they explore the parallels between the practices of medicine and music.

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Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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Paying Off the Mortgage / Burnout in Medicine

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner, Justin Harvey CFP) — Wed, 16 Apr 2025 04:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey CFP and Dr. Jimmy Turner explore the topics of paying off mortgages early, establishing personal and professional boundaries, and the importance of having disability insurance.

They stress the significance of setting boundaries in professional life to prevent burnout, drawing from Dr. Turner's own experiences and his framework for fulfillment outlined in his book. The duo also delve into the debate on whether to pay off a mortgage early in a high-interest environment versus investing, providing both mathematical and psychological perspectives.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/FreeBook

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Ninja Warrior And Bitcoin Believer Dr. Noah Kauffman

thephysicianphilosopher@gmail.com (Dr Jimmy Turner, Dr Noah Kauffman) — Wed, 9 Apr 2025 04:00:00 +0000

In this episode of the Money Meets Medicine podcast, Dr. Jimmy Turner explores Bitcoin and its implications for the financial world with Dr. Noah Kaufman, an emergency medicine physician, rock climber, and former American Ninja Warrior competitor. Dr. Kaufman shares his journey into Bitcoin investment, explaining the concept of deflation, the intrinsic value of Bitcoin, and its potential societal impacts.

They discuss the adoption of Bitcoin, its comparability to gold, and its unhackable nature. Dr. Kaufman stresses the importance of understanding Bitcoin as an invention rather than a speculative investment. They also touch on the potential future impacts of Bitcoin on the financial system and individual wealth. The episode encourages physicians and listeners to explore Bitcoin deeper and consider its role in their financial strategies.

Check out Sound HSA --> https://SoundHSA.com

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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Disability Insurance Nightmares with Michael Kittner

thephysicianphilosopher@gmail.com (Dr Jimmy Turner, Michael Kittner) — Wed, 2 Apr 2025 04:00:00 +0000

This episode is brought to you by Locumstory—learn how locum tenens can help you find more freedom and flexibility in your medical career at moneymeetsmedicine.com/locums.

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Dr. Turner and Mike Kittner discuss the crucial topic of disability insurance for doctors. They explore common pitfalls and nightmares experienced by doctors in securing disability insurance and emphasize the importance of obtaining coverage during medical training. Mike shares real-life stories about the consequences of not disclosing full medical histories and missing out on guaranteed standard issue (GSI) policies.

They also highlight why Guardian's GSI policies are highly beneficial, especially their unique fallback option that prevents denial nightmares. Detailed explanations are given on why considering fully underwritten policies might be beneficial, the advantages of graded premiums, and the significant role of independent insurance agents. The episode underscores the necessity of getting disability insurance while in training and offers actionable advice on how to avoid common mistakes.

If you are looking to get a quote for disability insurance from a source you can trust, visit https://moneymeetsmedicine.com/disability

Just learning about personal finance? Make sure to snag a free copy of The Physician Philosopher's Guide to Personal Finance for free at https://moneymeetsmedicine.com/freebook

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Making the Most of Credit Card Points with Dr. Devon Gimble

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Dr Devon Gimble) — Wed, 26 Mar 2025 08:00:00 +0000

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner is joined by retired physician and credit card guru Dr. Devin Gimble to discuss how to maximize credit card points for luxury travel. Dr. Gimble, who funds $50,000 to $100,000 worth of luxury travel annually using points, shares her expertise on using transferable credit card points, such as those from Chase and Amex, to greatly enhance their value.

They discuss the importance of understanding spending categories, the pitfalls of credit card churning, and strategies for physicians to leverage high expenses to earn substantial travel rewards. The podcast emphasizes simplicity and practicality, offering insights for both detail-oriented individuals and those seeking straightforward solutions. Additionally, the episode highlights the 'Points Made Easy' course and the necessity of own occupation disability insurance for physicians. Dr. Gimble also debunks common misconceptions and provides actionable tips for optimizing credit card points without overwhelming effort.

Want to learn how to mazimize your credit card points? Enroll in Points Made Easy by visiting https://moneymeetsmedicine.com/points

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Buying versus Renting a Home

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey) — Wed, 19 Mar 2025 08:00:00 +0000

This episode of the Money Meets Medicine podcast, hosted by Justin Harvey and Dr. Jimmy Turner, discusses the perennial question of whether it's better to rent or buy a house, especially for medical professionals at various stages of their careers. They delve into financial considerations, personal anecdotes from their experiences, and statistical analyses, emphasizing that the decision is not always straightforward. They also touch on psychological factors, tax deductions, and the benefits of disability insurance. The narrative underscores the importance of individualized financial decisions, given varying market conditions and personal circumstances.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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Should I Use my 457 (Non-governmental)?

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Justin Harvey CFP) — Wed, 12 Mar 2025 08:00:00 +0000

In an episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss optimizing retirement plans, specifically addressing the complexities and benefits of 457 plans. The conversation emphasizes the need to distinguish between governmental and non-governmental 457 plans, analyzing their risks and benefits. Governmental 457 plans offer flexibility and can be rolled over into an IRA or another retirement account, while non-governmental 457s present more risks and limitations, such as forced distributions and potential employer insolvency.

The hosts discuss the circumstances under which a taxable brokerage account might be a better alternative due to its flexibility and potential for tax efficiency. They also highlight the importance of understanding one’s long-term employment plans and financial goals when making these decisions. The episode includes listener questions and emphasizes the significance of disability insurance and comprehensive financial planning.

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Every doctor needs own-occupation disability insurance. To get it from a source you can trust, Visit https://moneymeetsmedicine.com/disability

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Being Named in a Law Suit w/ Dr. Gita Pensa

thephysicianphilosopher@gmail.com (dr jimmy turner) — Wed, 5 Mar 2025 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner is joined by Dr. Gita Pensa, an adjunct associate professor at Brown University and an expert in malpractice litigation stress and physician litigation support. Dr. Pensa discusses her decade-long experience with a malpractice lawsuit, the psychological and financial impact of being named in a lawsuit, and her work to support other physicians through her podcast 'Doctors in Litigation, the L Word' and her LEAP course.

Key topics include the teachings of risk management and litigation preparation, the role and ethics of medical expert witnesses, and strategies for coping with the psychological stress of lawsuits. Dr. Pensa emphasizes the importance of understanding one's malpractice policy and reframes the defendant's role in litigation to foster empowerment. The episode also highlights resources for ongoing support and education for doctors facing litigation.

To learn more about the LEAP course --> moneymeetsmedicine.com/malpractice

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Bad 401K Options and International Stocks

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey) — Wed, 26 Feb 2025 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss the benefits and drawbacks of target date funds for beginner investors, particularly residents and early-career physicians.

The conversation also touches on the pitfalls of high expense ratios in 401(k) options and the importance of diversification in investments. They advocate for simplicity in investing, stress the relevance of understanding expense ratios, and highlight the potential need for financial advisors as financial complexities increase. The episode aims to provide actionable insights and resources to help listeners improve their financial literacy and investment strategies.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

My Spouse Spends Too Much Money & Part-Time Work in Medicine

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey) — Wed, 19 Feb 2025 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, Dr. Jimmy Turner and financial advisor Justin Harvey delve into a range of personal finance issues pertinent to medical professionals. They start with an analogy to marriage and quickly move into a discussion about balancing work and personal life, emphasizing the challenges and benefits of considering part-time work. Both hosts share personal anecdotes and professional insights on how doctors can manage their finances and work commitments more sustainably.

They also tackle the contentious subject of spousal spending habits and offer advice on aligning financial goals within a family. The episode underscores the importance of discussing values and planning concrete steps for achieving financial and personal satisfaction, all while considering unique occupational pressures faced by healthcare professionals.

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

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The Hidden Costs of Changing Jobs and Alternative Investments

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey) — Wed, 12 Feb 2025 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner discuss key personal finance topics relevant to physicians. The conversation covers experiences with long-distance travel for sports events, the pros and cons of alternative investments, and the financial consequences of changing jobs within the medical field.

They underscore the risks involved with certain investment pitches, particularly in real estate and niche markets. The episode concludes with an update on the latest student loan changes under the new administration, including the implications of the SAVE plan's general forbearance and future repayment expectations. They emphasize financial prudence and preparation in both investment decisions and professional transitions.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Bitcoin: Stupid Games Win Stupid Prizes

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Justin Harvey CFP) — Wed, 5 Feb 2025 11:51:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner explore the topic of Bitcoin and its potential role in personal finance. Jimmy, having invested in Bitcoin himself, discusses his extensive research into cryptocurrency, including reading 'The Bitcoin Standard.' Both hosts emphasize the philosophical and conceptual aspects of Bitcoin, its deflationary nature, and its potential as a global currency.

They caution listeners about the volatility and speculative nature of Bitcoin and other cryptocurrencies, advocating for a small, strategic investment approach if considered. Throughout the unscripted conversation, they explore the implications of Bitcoin adoption, the philosophical contrast to traditional fiat currencies, and the importance of understanding one's investment rationale and risk tolerance.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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The Biggest Financial Mistakes Doctors Make w/ Tyler Olson

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Tyler Olson) — Wed, 29 Jan 2025 06:00:00 +0000

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner is joined by financial advisor Tyler Olson to discuss the primary financial priorities for physicians. The conversation covers key financial mistakes that doctors make during training, such as debt management and the need for comprehensive financial education.

They explore different financial advisory models, the benefits of accountability, and the importance of tax planning. Tyler shares insights from his 20-year career focused on financial planning for doctors and the vital role of understanding one's financial habits and needs. The episode emphasizes the significance of proactively managing finances and the various tools and services available to support physicians in making informed financial decisions.

Get 10% off a contract review before you sign on the dotted line by using the code “10OFF” Https://moneymeetsmedicine.com/resolve

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Is Buying Land a Good Investment?

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Justin Harvey CFP) — Wed, 22 Jan 2025 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey explore the complexities of buying land as an investment. After discussing their personal holiday experiences, they dive into a listener's question about purchasing land for personal use and enjoyment versus financial gain.

They highlight the importance of understanding the purpose of the land purchase and differentiate between buying land for family recreation and speculative investment. The discussion also touches on zoning laws, financing options, and risks associated with land investment. Additionally, they address the emotional value of creating family memories through land ownership, even if it involves financial stretching.

Are you a physician? Then you need disability insurance. Get it from a source you can actually trust by visiting https://moneymeetsmedicine.com/disability

Not sure where to start on your financial education journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook

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Expert Witness Work as a Physician Side Gig

thephysicianphilosopher@gmail.com (dr jimmy turner and dr gretchen greene) — Wed, 15 Jan 2025 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner converses with Dr. Gretchen Green, a radiologist and expert witness educator, about lucrative non-clinical income opportunities through expert witness work. The discussion covers Dr. Green's journey, including her North Pole expedition and her experiences in medical malpractice cases.

They delve into the practicalities of starting an expert witness business, including setting fee schedules, managing time effectively, and overcoming common barriers such as undercharging and ethical concerns. They also touch upon Dr. Green's Expert Witness Startup School, a comprehensive course aimed at helping physicians transition smoothly into this field.

Looking to start your expert witness side gig? Learn how at the Expert Witness School. Click here to learn more: https://moneymeetsmedicine.com/expert

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Should You Loan Money to Friends/Family?

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Justin Harvey CFP) — Wed, 8 Jan 2025 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey CFP discuss the complexities of loaning money to friends and family. Reflecting on their personal experiences, they emphasize the importance of defining relationships and setting clear boundaries.

They discuss the emotional and financial impacts of giving or loaning money, the value of written agreements, and the need for accountability. The conversation also highlights the importance of trust, generosity, and aligning financial decisions with personal values.

Wanting to get started on your personal finance educational journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook

Looking to secure your disability insurance from a source you can actually trust? Visit https://moneymeetsmedicine.com/disability

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

What is Your Purpose Code with Dr. Jordan Grumet

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Dr. Jordan Grumet) — Wed, 1 Jan 2025 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Dr. Jordan Grumet discuss the themes of purpose and fulfillment. They delve into Jordan's journey from being a hospice physician to a personal finance podcaster and author. The episode centers on Dr. Grumet's latest book, 'The Purpose Code,' which explores finding purpose as a key to fulfillment. They discuss the difference between 'big P' purpose (audacious goals) and 'little P' purpose (everyday joys), and how the latter leads to true happiness.

The conversation also covers the importance of community, personal stories, and dealing with regrets. Practical exercises from the book are mentioned to help listeners build their own sense of purpose. They highlight the significance of connections in achieving happiness and how purpose can be woven into everyday life through small, enjoyable activities.

Check out Jordan's book, The Purpose Code, by visiting his site https://jordangrumet.com

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Trump's Impact on Student Loans with Travis Hornsby

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 25 Dec 2024 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner is joined by student loan expert Travis Hornsby to discuss the intricate and evolving landscape of student loans. The episode is timely, releasing on Christmas Day 2024, just weeks before the anticipated Trump administration takes office. This transition has significant implications for student loans, particularly in light of the complex and often conflicting policies introduced by the Biden administration.

Turner and Hornsby delve into topics such as Public Service Loan Forgiveness (PSLF), the impact of recent executive actions, and the potential changes under the incoming administration. They emphasize the importance of understanding the technical details of student loans, cautioning listeners to consult experts and carefully consider tax implications. The episode also highlights the importance of becoming a 'mini expert' in managing student loans due to the increased complexity of the system over the past 12-18 months.

Looking to get started on your financial literacy journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance https://moneymeetsmedicine.com/freebook

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Ryan Inman on Cryptocurrency and the Metaverse

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 18 Dec 2024 09:07:00 +0000

In this engaging episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Ryan Inman reunite to discuss a variety of topics spanning personal finance, the metaverse, cryptocurrency, and overcoming professional burnout. Ryan opens up about his departure from the podcast and his financial planning firm, Physician Wealth Services (PWS), due to burnout and life challenges.

They then pivot to exploring the metaverse and cryptocurrency, detailing his ventures into gaming and decentralized finance (DeFi). Jimmy and Ryan discuss the potential of cryptocurrencies like Bitcoin, their impact on inflation, and how they might be included in personal investment portfolios. The episode offers insights into the evolving world of digital finance, personal resilience, and maintaining work-life balance.

Looking to protect the one asset that allows you to invest in everything discussed in this episode? Get your own-occupation disability insurance from a source you can trust here: https://moneymeetsmedicine.com/disability

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Risky Business: Assets and Risk Tolerance

thephysicianphilosopher@gmail.com (dr jimmy turner and dr steven bradley) — Wed, 11 Dec 2024 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner discuss how physicians can manage their risk tolerance, especially during market downturns. They cover key topics such as the importance of financial literacy, the role of disability insurance, the risks of market corrections and inflation, and strategies for investing based on one's time horizon and personality.

They also explore asset allocation, target date funds, and the need for thoughtful risk management. Real-world insights and personal experiences illustrate how to navigate financial planning in both stable and volatile markets.

Want a free copy of the best-selling The Physician Philosopher's Guide to Personal Finance? Download a copy here: https://moneymeetsmedicine.com/freebook

Need disability insurance from a source you know you can trust? Get a quote at https://moneymeetsmedicine.com/disability

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The Doctor Podcast Network with Dr. Bradley Block

thephysicianphilosopher@gmail.com (Jimmy Turner and Bradley Block) — Wed, 4 Dec 2024 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner is joined by Dr. Bradley Block, an otolaryngologist and host of the Physician's Guide to Doctoring podcast. They discuss the power of podcasting for physicians, sharing behind-the-scenes details about creating and managing a successful podcast.

They introduce the Doctor Podcast Network (DPN), designed to help physicians launch and run their podcasts efficiently, offering varying levels of support from basic guidance to full-service management. Dr. Block also shares his personal journey, detailing his experiences and challenges, including a story about his bodybuilding competitions during medical school. The episode emphasizes the importance of understanding one's goals, whether for monetization, branding, or personal fulfillment and how DPN can assist in these endeavors.

If you are looking to start a podcast of your own, visit https://moneymeetsmedicine.com/DPN to learn more about the Doctor Podcast Network

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Making the Most of Your Paycheck

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey CFP) — Wed, 27 Nov 2024 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey CFP and Dr. Jimmy Turner discuss the importance of checking your end-of-year paycheck, sharing a personal anecdote about an HSA mishap due to administrative changes. They emphasize understanding tax withholdings, ensuring proper retirement contributions, and using employer benefits like academic or CME funds. They also address the complexities of paycheck errors, production-based compensation, and tax implications for physicians, including considerations for changing jobs and charitable giving strategies.

Looking for a free book to get you started on your financial journey? Download The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook

Every doctor needs disability insurance. Get it from a source you can trust at https://moneymeetsmedicine.com/disability

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

BOM: Money, Music, and Minimalism with Dr. Steven Bradley

thephysicianphilosopher@gmail.com (dr jimmy turner and dr steven bradley) — Wed, 20 Nov 2024 09:00:00 +0000

Dr. Steven Bradley shares his diverse journey on the 'Money Meets Medicine' podcast, discussing his background as a Navy brat and his path through medical school at Howard University. He speaks about his love for music and decision to transition from being a music major to medicine after working in construction and being inspired by a pre-med friend.

Dr. Bradley highlights his experiences in the Navy, his critical care aspirations, and his decision to pursue an ethics fellowship alongside his medical career. He delves into his minimalist lifestyle, emphasizing his passion for music and art, and how he prioritizes them over other pursuits like sports. He also discusses the distinct cultural and ethical differences in medical practice between the U.S. and Europe.

Towards the end, Dr. Bradley touches on his mindfulness journey, his use of the handpan for relaxation, and his transition from focusing on medical content to music on Instagram and his new ambient channel.

Looking for a free personal finance book to get you started on your journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook

Ready to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability

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End of Year Financial Tasks

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey CFP) — Wed, 13 Nov 2024 09:00:00 +0000

In this Money Meets Medicine podcast episode, hosts Dr. Jimmy Turner and Justin Harvey discuss essential end-of-year financial tasks for physicians. They emphasize the importance of open enrollment decisions, review of HSA options, evaluating 401(k), 403(b), and 457 plans, and the significance of rebalancing investment portfolios. The episode also covers tax withholdings, charitable giving through donor-advised funds, and the unique financial considerations for business owners and retirees. The hosts also suggest intentional planning for future financial goals and the benefits of seeking professional financial advice.

Looking for own-occupation disability insurance? Visit https://moneymeetsmedicine.com/disability

Want to increase your financial litearcy? Download a free copy of The Physician Philosopher's Guide to Personal finance at https://moneymeetsmedicine.com/freebook

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BOM: Rick Ferri on Advisors and Asset Allocation

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Rick Ferri CFA) — Wed, 6 Nov 2024 09:00:00 +0000

In this episode of the Money Meets Medicine podcast, Dr. Jimmy Turner interviews Rick Ferri, a seasoned investment expert with over 35 years in the industry. They discuss the benefits of low-cost index funds, financial planning, and managing investment portfolios. Rick shares his experiences from his 'Alaska or Bust' RV trip and delves into his investment philosophy. The episode also covers asset allocation, international stocks, the structure of financial advisory models, and the importance of planning beyond just investments. Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com Every doctor needs disability insurance. To get it from a source you can trust, Visit https://moneymeetsmedicine.com/disability

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Is Locum Tenens for Every Doctor?

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 30 Oct 2024 08:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner delve into the growing popularity of locum tenens work among physicians. They discuss the advantages such as flexibility, better work-life balance, and strategies to navigate non-compete clauses. The episode highlights the financial and psychological aspects of transitioning from traditional employment to locum tenens, the importance of understanding W2 versus 1099 tax differences, and tips for negotiating with locum agencies. Through personal anecdotes, they reveal the high demand in certain specialties and emphasize the freedom and value physicians discover in locum tenens roles. If you want to learn more about locums visit https://moneymeetsmedicine.com/locums. Looking for disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

BOM: Jason Mizell Academics to Private Practice

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Dr. Jason Mizell) — Fri, 25 Oct 2024 08:00:00 +0000

In this compelling episode of the Money Meets Medicine podcast, Dr. Jimmy Turner engages Dr. Jason Mizell, a colorectal surgeon based in Little Rock, Arkansas, to delve into the intricacies of career transitions and contract negotiations in the medical field. Dr. Mizell details his professional journey from academia to private practice, emphasizing his faith's influence on his decisions and the critical elements he negotiated in his new contract. The discussion explores topics like non-compete clauses, salary negotiations, and the importance of seeking expert contract reviews, with practical insights from Dr. Mizell's experiences. Personal anecdotes highlight the emotional and professional challenges faced during such transitions, offering valuable advice for medical professionals contemplating similar changes. Looking for 10% off a contract review? Use code "10OFF" when you visit https://moneymeetsmedicine.com/resolve

If you need own-occupation disability insurance from a source that you know will actually do the right thing for you, visit https://moneymeetsmedicine.com/disability

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

How to Choose Your Asset Allocation

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey CFP) — Wed, 23 Oct 2024 08:00:00 +0000

In this podcast, hosts Dr. Jimmy Turner and Justin Harvey delve into pivotal personal finance topics tailored for physicians. They explore asset allocation, diversification, and the importance of balanced portfolios including U.S. and international equities as well as bonds. The discussion encompasses different investment strategies, risk management, financial literacy, and rebalancing techniques to maintain financial security and achieve independence. Emphasizing adaptive investment approaches and expert insights, the hosts provide valuable advice and resources to help physicians navigate their financial journeys effectively. Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com Every doctor needs disability insurance. To get it from a source you can trust, Visit https://moneymeetsmedicine.com/disability

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BOM: Dr. Disha Spath and the B Word

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Fri, 18 Oct 2024 08:00:00 +0000

In this episode of 'Money Meets Medicine,' hosts Justin Harvey and Dr. Jimmy Turner dive into techniques for overcoming decision fatigue to enhance financial efficiency. They discuss the advantages of minimizing choices, embracing core financial principles, and adopting automated systems to streamline decision-making. Key topics include the benefits of low-cost index funds, the impact of behavioral finance, balancing financial choices with personal values, and the importance of a strong savings rate. The episode provides valuable insights for medical professionals aiming to optimize their financial strategies and reduce stress.

Every doctor needs disability insurance. To get it from a source you can trust, Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Mastering Financial Decision-Making

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey CFP) — Wed, 16 Oct 2024 08:00:00 +0000

Join hosts Justin Harvey and Dr. Jimmy Turner on this episode of the Money Meets Medicine podcast as they delve into strategies for achieving financial success through minimizing decision fatigue and maximizing efficiency. They discuss the impacts of decision fatigue, the benefits of automating financial tasks, and the concept of making one decision that simplifies future financial decisions. The episode covers the importance of maintaining a high savings rate, the benefits of investing in index funds, and the value of outsourcing tasks. They also explore the importance of understanding one's core values and principles in making financial decisions that align with personal goals. Don't miss this insightful discussion, plus tips on batching financial decisions and living intentionally while working towards financial independence. Every doctor needs disability insurance. To get it from a source you can trust, Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

New York Times Article: https://www.nytimes.com/2024/07/29/business/retirement-savings-scams.html

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BOM: Non Competes and Contracts With Kyle Claussen from Resolve

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Kyle Claussen) — Fri, 11 Oct 2024 08:00:00 +0000

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner discusses the proposed FTC non-compete ban and its implications for physicians with guest Kyle Clausen. Kyle, an expert in physician contracts and compensation, shares insights on how to navigate non-competes, negotiate contracts, and protect one's financial interests when seeking new employment. Topics include the recent legal rulings on the FTC's proposed non-compete ban, how to handle various contractual elements like tail coverage and intellectual property, and strategies for successful contract negotiation. Get 10% off a contract review by using code "10OFF" at https://moneymeetsmedicine.com/resolve

DownloadThe Physician Philosopher's Guide to Personal Finance: https://moneymeetsmedicine.com/freebook

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How to Spot Financial Scams

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey CFP) — Wed, 9 Oct 2024 08:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner delve into financial fraud scams and how to protect yourself and loved ones. They share a listener's heart-wrenching story of falling victim to a scam that cost their parents millions in retirement savings. The episode covers various types of scams, including romance scams and gift card fraud, and emphasizes caution when dealing with high-risk investments. The hosts also discuss the importance of due diligence, especially for physicians who may be targeted due to their high incomes. Tune in to learn vital tips for safeguarding your finances and avoiding common pitfalls. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

New York Times Article: https://www.nytimes.com/2024/07/29/business/retirement-savings-scams.html

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BOM: Dr. Bill Bernstein's Investing Advice

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Dr. Bill Bernstein) — Fri, 4 Oct 2024 08:00:00 +0000

In this inaugural episode of 'Business of Medicine Fridays' on the Money Meets Medicine podcast, Dr. Jimmy Turner introduces this exciting new segment featuring guest interviews focused on money, mindset, and career longevity. In a compelling interview, Dr. Turner speaks with Dr. Bill Bernstein, a neurologist turned financial advisor, about financial mistakes doctors should avoid, the importance of understanding market history, and practical tips for successful investing. Listen in as Dr. Bernstein shares insights from his extensive research in modern portfolio theory and his perspective on the ethical considerations in the financial industry. Looking to get started with your financial litearcy? DownloadThe Physician Philosopher's Guide to Personal Finance: https://moneymeetsmedicine.com/freebook

If You Can by Bill Bernstein: https://www.etf.com/docs/IfYouCan.pdf

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Saving For a Kid's College Education

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey CFP) — Wed, 2 Oct 2024 05:00:00 +0000

In this episode of the Money Meets Medicine Podcast, hosts Justin Harvey and Dr. Jimmy Turner examine the complexities and strategies of saving for children's college education. They argue that a 529 plan, while useful, is not the ultimate solution for funding education. The hosts share their personal experiences and offer alternative savings options, including prepaid tuition plans, scholarships, and Roth IRAs. They emphasize the importance of having philosophical and practical conversations about the purpose of higher education and how to incorporate family values into financial planning. Additionally, they discuss the importance of teaching children about money, giving them financial responsibilities, and considering non-traditional educational pathways. Save $100 on a student loan consult: https://moneymeetsmedicine.com/slp

Looking for a free-copy of the best-selling Physician Philosopher's Guide to Personal Finance? Download it here: https://moneymeetsmedicine.com/freebook

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Solo 401Ks, SEP IRAs, and 1099 Income

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey CFP) — Wed, 25 Sep 2024 05:00:00 +0000

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss the advantages and disadvantages of SEP IRAs and Solo 401ks for doctors earning 1099 income. They delve into the differences between W2 and 1099 income, tax considerations, and the impact on retirement planning. The discussion includes real-life anecdotes, such as navigating backdoor Roth IRAs, the complexities of plan compliance, and criteria for choosing between SEP IRAs and Solo 401ks. The episode stresses the importance of understanding the nuances to make informed financial decisions tailored to individual circumstances.

To download a free-copy of the best-selling Physician Philosopher's Guide to Personal Finance: https://moneymeetsmedicine.com/freebook

To get disability insurance from a source you can trust, visit https://moneymeetsmedicine.com/disability

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Should I Use My HSA?

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey CFP) — Wed, 18 Sep 2024 05:00:00 +0000

Many people have a Health Savings Account (HSA) available to them. But should you use it? And, if you do, what are the best practices for utilizing the money inside an HSA. In this show, Dr. Jimmy Turner and Justin Harvey CFP discuss investing inside of an HSA, how to take the money out, and other items you should consider before using an HSA.

Want a free copy of my Dr. Turner''s best selling book The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Dealing With Financial Stress and Anxiety

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey CFP) — Wed, 11 Sep 2024 05:00:00 +0000

Financial stress and anxiety is a reality of being human. Are there ways we can know when the stress is coming so that we can prevent (or treat) the financial anxiety that comes along with it? Tag along as Justin Harvey CFP and Dr. Jimmy Turner discuss a recent example of financial stress Jimmy has faced, financial planning, emergency funds, entrepreneurship, and more.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Why You Should Die With Zero

thephysicianphilosopher@gmail.com (dr) — Wed, 4 Sep 2024 05:00:00 +0000

People love talking about saving money to get to financial independence. Not enough people talk about the cost of saving a lot of money and the impact that has on your life. Are you saving too much? Are you living a life with no regrets? Listen in as Dr. Jimmy Turner and Justin Harvey CFP discuss the goal of dying with zero.

Want me to give a free virtual talk for your residency? Email me at jimmy@moneymeetsmedicine.com

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Market Downturn Strategies

thephysicianphilosopher@gmail.com (Dr Jimmy Turner and Justin Harvey CFP) — Wed, 28 Aug 2024 05:00:00 +0000

A 10% correction will happen, on average, every 1.5 years. You will experience a true bear market of more than a 20% loss multiple times in your investing life. Knowing this, though, doesn't tell you what to do about it. In this episode Jimmy Turner, MD and Justin Harvey CFP discuss mindsets, strategies, and tactics for what you can do when the stock market takes a dive.

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

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Cash Balance Plans: Good, Bad, or Ugly?

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Justin Harvey CFP) — Wed, 21 Aug 2024 05:00:00 +0000

Cash balance plans: Huge tax savings? Or a big pain in the backside? On this show, we discuss what cash balance plans are, what's good about them, what's bad. And, most importantly, who is the kind of person that would benefit from using a cash balance plan.

Check out the Money Meets Medicine YouTube Channel: https://www.youtube.com/@MoneyMeetsMedicine

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Avoiding Capital Gains Taxes

thephysicianphilosopher@gmail.com (Jimmy Turner and Justin Harvey) — Wed, 14 Aug 2024 05:00:00 +0000

A taxable brokerage account is one of the most flexible ways to invest your money. And, if you play the game right, you can also reduce taxes in this account in such a way that it may become your favorite type of investing account. In this episode, we discuss short and long term capital gains, how to minimize capital gains taxes, how to potentially pay zero dollars in capital gains taxes in early retirement, and the importance of understanding how these accounts work.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Safe Harbor Rules: https://www.irs.gov/payments/underpayment-of-estimated-tax-by-individuals-penalty

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Working After Financial Independence

thephysicianphilosopher@gmail.com (Jimmy Turner and Justin Harvey) — Wed, 7 Aug 2024 05:00:00 +0000

There are a lot of things to consider before you reach financial independence and retire. One of those items is what you'll do with your life, including if you'll work after financial independence. This is a problem often left unsolved until retirement, which can cause havoc if not dealt with sooner.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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What if I am behind financially?

thephysicianphilosopher@gmail.com (Jimmy Turner and Justin Harvey) — Wed, 31 Jul 2024 05:00:00 +0000

What if you feel like you haven't saved enough? Are there options to help you catch up? In this show we discuss what to do if your savings aren't quite where they need to be to retire by the age you want, including catch-up contributions, earning money in retirement, social security, and more.

Every doctor needs own-occupation disability insurance. Get it from a source you can trust: Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Why You Shouldn't Live Like a Resident

thephysicianphilosopher@gmail.com (Jimmy Turner and Justin Harvey) — Wed, 24 Jul 2024 05:00:00 +0000

Doctors are often told in the financial space to "live like a resident." Yet somewhere between the YOLO-spend-it-all mentality and the idea of living like a resident as an attending physician is a better and more moderate view of personal finance. In this show, we discuss why it is difficulty for many doctors to spend money once they learn about personal finance and the two different times in the journey this can plague people.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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The Top Financial Tasks for July

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 17 Jul 2024 05:00:00 +0000

July is a time of transition for many doctors. Whether you are a medical student becoming an intern or a fellow becoming an attending physician, there are some financial tasks that are top of mind this time of year. Tune in as we discuss everything from student loans and asset protection to estate plans and financial education.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

How To Think About Money by Jonathan Clements: https://www.amazon.com/Think-About-Money-Jonathan-Clements/dp/1523770813/

Three Kinder Questions:

https://thephysicianphilosopher.com/guides/three-kinder-questions/

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Should I Pay Off My Mortgage?

thephysicianphilosopher@gmail.com (Jimmy Turner and Justin Harvey) — Wed, 10 Jul 2024 05:00:00 +0000

Should you pay off your mortgage if your interest rate is

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Is Direct Indexing Worth it?

thephysicianphilosopher@gmail.com (Jimmy Turner and Justin Harvey) — Wed, 3 Jul 2024 05:00:00 +0000

Have you heard of direct indexing (or separately managed accounts)? Is it a good way to invest, or is it just another hot trend? In this episode we discuss the benefits and pitfalls of using direct indexing as an investing strategy. We discuss specifically who it is for, who it is not, and when you might consider investing with a direct index strategy.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Pitfalls of Buying a Home

thephysicianphilosopher@gmail.com (Jimmy Turner and Justin Harvey) — Wed, 26 Jun 2024 05:00:00 +0000

Buying a home is not without pitfalls, including navigating how realtors are paid (recent changes discussed on this show may make this easier), the pros and cons of physician home loans, and more. On this show we discuss both the math and the psychological impact of decision making when it comes to buying a home.

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

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Tax Efficient Investing

thephysicianphilosopher@gmail.com (The Physician Philosopher) — Wed, 19 Jun 2024 16:16:00 +0000

Investing is great, but investing while not increasing your tax bill is even better. In this show, we discuss how to invest in a tax efficient manner, including tax loss harvesting, where to stash certain assets, and more.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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When Whole Life Insurance Makes Sense

thephysicianphilosopher@gmail.com (Jimmy Turner and Justin Harvey) — Wed, 12 Jun 2024 05:00:00 +0000

Just because whole life insurance is not the best product for most doctors does not meant that it is never a product worth considering. In this episode, Jimmy Turner and Justin Harvey discuss the good, the bad, and the ugly of permanent life insurance. This includes the impact on estate taxes, high savers, and why whole life insurance can be a reasonable product for a small niche group of people.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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How Does Your Net Worth Compare?

thephysicianphilosopher@gmail.com (James D Turner and Justin Harvey CFP) — Wed, 5 Jun 2024 05:00:00 +0000

When it comes to personal finance, many of us often don’t know how we are doing. We “practice” personal finance in a silo. Fortunately, there is information out there on how your net worth compares, which may give you a barometer of where you are and where you need to be. Or is comparison the thief of joy?

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Is Group Disability Insurance Enough?

thephysicianphilosopher@gmail.com (James D Turner) — Wed, 29 May 2024 05:00:00 +0000

Is group disability offered by your employer enough (the answer is “no”)? Or do you need to supplement with an individual own-occupation disability insurance policy? In this episode, we discuss all things DI from portability, cost-of-living adjustments, how much disability insurance you need and more/

Need a student loan plan? Own-Occupation Disability Insurance? You can get both at https://moneymeetsmedicine.com

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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How to Earn More Money

thephysicianphilosopher@gmail.com (James D Turner and Justin Harvey CFP) — Wed, 22 May 2024 05:00:00 +0000

If you are a W-2 employed physician, it may seem like you cannot bring home more money, even if you wanted to. Is that really true, though? In this show we discuss multiple ways that an employed physician can earn more money.

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

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How Much Is a Financial Advisor Worth?

thephysicianphilosopher@gmail.com (James D Turner and Justin Harvey CFP) — Wed, 15 May 2024 05:00:00 +0000

The cost of a financial advisor gets a lot of airtime, but what can a financial advisor save you? In other words, what is a financial advisor worth? In this show, we discuss a Vanguard study that looked into the exact amount a financial advisor is worth, and nailed it down to 6 categories we discuss on the show. If you have never considered getting a financial advisor, you just might by the end.

Need own-Occupation Disability Insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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Tax Efficient Ways to Give to Charity

thephysicianphilosopher@gmail.com (James D Turner MD and Justin Harvey CFP) — Wed, 8 May 2024 05:00:00 +0000

Are there tips and tricks for donating to charity? (The answer is yes). Should you donate at all? Listen in as we talk charitable giving, donor advised funds (DAFs), and other charitable giving hacks for high-earners.

Need a student loan plan? Own-Occupation Disability Insurance? You can get both at https://moneymeetsmedicine.com

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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Is Financial Independence the Cure to Burnout? (Updated)

thephysicianphilosopher@gmail.com (James D Turner and Justin Harvey CFP) — Wed, 1 May 2024 11:14:00 +0000

Approximately 50% of physicians are burned out in medicine. Even more wouldn’t recommend medicine to their family members or friends. This begs the question, why then do doctors stay in a job that they don’t like? Some say that the answer is that they often cannot financially afford to leave. Is this true? How does personal finance and financial independence play a part in physician burnout? That’s what we discuss in this episode.

Make comments on corporate limits → https://www.regulations.gov/document/FTC-2024-0022-0001

Need a student loan plan? Own-Occupation Disability Insurance? You can get both at https://moneymeetsmedicine.com

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook

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Transitioning to a New Job with Dr. Lisha Taylor

thephysicianphilosopher@gmail.com (MD and Justin Harvey, CFP, James D Turner) — Wed, 24 Apr 2024 05:00:00 +0000

Are you starting a new job as a physician? Maybe it is your first job ever as an attending? Listen in as we discuss all the must-do financial tasks including negotiations, benefits, changing budgets, and how to make sense of all things personal finance for new attending physicians.

Make sure to check out Lisha's new podcast Wealth Minded MD!

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Buying Versus Renting a House

thephysicianphilosopher@gmail.com (CFP, MD and Justin Harvey, James D Turner) — Wed, 17 Apr 2024 05:00:00 +0000

One of the most common questions I get is whether a doctor should buy or rent a house. Sometimes this is after training when considering buying or renting a house at their first job. Even more often it is following medical school when soon-to-be residents and physicians are trying to decide if they should buy or rent.

In this episode, we discuss the time you need to stay, the current housing market, and other considerations physicians should have to decide whether they should buy or rent a home.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

apmsuccess.com/232 “is renting really throwing away money?”

apmsuccess.com/233 “financial benefits of home ownership”

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Pre-Tax versus Roth Investing

thephysicianphilosopher@gmail.com (MD and Justin Harvey, CFP, James D Turner) — Wed, 10 Apr 2024 14:59:41 +0000

Every doctor needs own-occupation disability insurance.

To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Avoiding the 59 ½ Rule

thephysicianphilosopher@gmail.com (CFP, James D Turner, MD and Justin Harvey) — Wed, 3 Apr 2024 05:00:00 +0000

Whether you want Financial Independence so you can retire early (FIRE) or you are nearing early retirement, the early retirement penalty imposed at age 59.5 must be considered. Here are some ways to bridge that early retirement gap until age 59.5.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Reference:

https://www.irs.gov/retirement-plans/comparison-of-tax-exempt-457b-plans-and-governmental-457b-plans

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Pros and Cons of a HELOC

thephysicianphilosopher@gmail.com (James D Turner, CFP, MD and Justin Harvey) — Wed, 27 Mar 2024 05:00:00 +0000

Home equity lines of credit (HELOCs) used to be all the rage. Are HELOC’s still worth your time as a high-income earner? Tag along as we discuss the pros and cons of HELOCs.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Significant Others & Financial Red Flags

thephysicianphilosopher@gmail.com (CFP, James D Turner, MD and Justin Harvey) — Wed, 20 Mar 2024 05:00:00 +0000

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

References:

Should couples share finances?

https://academic.oup.com/jcr/article-abstract/50/4/704/7077142

New York Times: Article: https://www.nytimes.com/interactive/2023/02/13/business/money-dating-questions.html

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How Liquid are Your Investments?

thephysicianphilosopher@gmail.com (MD and Justin Harvey, CFP, James D Turner) — Wed, 13 Mar 2024 05:00:00 +0000

With some investing, you will not need the money very soon. This requires liquidity, or the ability to quickly get your investments into cash. Join in as Justin Harvey CFP and Dr. Jimmy Turner discuss the importance of liquidity when it comes to your investments.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Do Doctors Need a Trust

thephysicianphilosopher@gmail.com (MD and Justin Harvey, CFP, James D Turner) — Wed, 6 Mar 2024 06:00:00 +0000

One thing is sure. All of us will die at some point. The question is what happens to your assets? To your financial legacy? That is where trusts come in. In this episode, Justin Harvey CFP and Dr. Jimmy Turner discuss all things trusts: irrevocable versus revocable trusts, living trusts, and more.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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Do I Need International Stocks?

thephysicianphilosopher@gmail.com (James D Turner, MD and Justin Harvey, CFP) — Wed, 28 Feb 2024 06:00:00 +0000

Warrant Buffet says you don’t need international stocks in your investment portfolio. Is this really true? Does Buffet even believe this himself? Tag along as Justin Harvey CFP and Dr. Jimmy Turner discuss the pros and cons of international stocks, and whether they should make the cut in your portfolio.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

References:

https://www.blackrock.com/us/financial-professionals/insights/access-international-through-the-core

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Where to Stash Your Emergency Fund

thephysicianphilosopher@gmail.com (James D Turner, CFP, MD and Justin Harvey) — Wed, 21 Feb 2024 06:00:00 +0000

Some high-income earners feel that an emergency fund is unnecessary. Join in as we discuss the reasons this isn’t really true, AND where you should consider placing your emergency fund as a high-income earning medical professional.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

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IS ESG Investing Worth It?

thephysicianphilosopher@gmail.com (James D Turner, CFP, MD and Justin Harvey) — Wed, 14 Feb 2024 06:00:00 +0000

Have you ever thought about investing with a conscience? Maybe based for environmental, social, or governmental (ESG) reasons? In this show, Justin Harvey CFP and Dr. Jimmy Turner discuss the merit and pitfalls of ESG investing.

Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

References:

https://hbr.org/2022/08/esg-investing-isnt-designed-to-save-the-planet

Alex Edmunds reference: https://www.youtube.com/watch?v=FkAecFr6aRo

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Contracts and Employment Agreements for Physicians

thephysicianphilosopher@gmail.com (James D Turner, CFP, MD and Justin Harvey) — Wed, 7 Feb 2024 06:00:00 +0000

When an employment agreement gets placed in front of most doctors, they look at the salary. Maybe they look at the non-compete. But, that’s about where it stops. On this show, we discuss the other important items in a physician contract that every doctor should be aware of before signing on the dotted line.

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com

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Coast FIRE to Avoid Getting Burned

thephysicianphilosopher@gmail.com (James D Turner, CFP, MD and Justin Harvey) — Wed, 31 Jan 2024 06:00:00 +0000

The proponents of the Financial Independence Retire Early (FIRE) movement has many proponents often fail to mention a different kind of burn. The burnout that comes from saving too much and limiting your lifestyle to a bare minimum. What if I told you there is an alternative to traditional FIRE called “Coast FIRE” that allows you to retire early without eating raman?

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com

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The Four F's of Financial Advising

thephysicianphilosopher@gmail.com (James D Turner, MD and Justin Harvey, CFP) — Wed, 24 Jan 2024 06:00:00 +0000

Join in as Dr. Jimmy Turner and Justin Harvey, a Certified Financial Planner, discuss whether The Four F's and if doctors would would benefit from a financial advisor. Have no idea how to figure out the good advisor from the one who wants to take advantage of you?

On this show, we discuss some rules of thumb you can utilize to find the right financial advisor for you. We also discuss fee models for financial planners and the conflicts that exist within them

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? https://moneymeetsmedicine.com

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability

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Side-Gigs for Doctors

thephysicianphilosopher@gmail.com (MD and Justin Harvey, James D Turner, CFP) — Wed, 17 Jan 2024 06:00:00 +0000

Have you ever considered creating non-clinical income outside of medicine? A lot of doctors have, and a recent report by Medscape shows it. Listen in as Justin Harvey, CFP and I discuss all things physician side gigs.

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com

Checkout the YouTube Channel: https://www.youtube.com/@MoneyMeetsMedicine

Medscape Physician Side Gig Report: https://www.medscape.com/slideshow/2023-side-gigs-rpt-6016717

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How to Lower Your Cost When Investing

thephysicianphilosopher@gmail.com (James D Turner and Justin Harvey) — Wed, 10 Jan 2024 06:00:00 +0000

Lowering the costs when investing is one of the key principles to investing success. The lower the cost/fees, the higher the returns over the long haul.

Did you know that the more you know about money, the lower your fees will be when you invest? Did you also know that most people think they know more about money than they actually do, and that this is linked to higher fees when investing?

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com

Checkout the YouTube Channel: https://www.youtube.com/@MoneyMeetsMedicine

FINRA Study: https://www.finrafoundation.org/sites/finrafoundation/files/How-Much-Are-You-Paying-Insight.pdf

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Jimmy's Lessons From Venture Capitalism

thephysicianphilosopher@gmail.com (James D Turner and Mike Kittner) — Thu, 4 Jan 2024 11:00:00 +0000

Sometimes, it is time to pivot. To make a change. And that’s what Dr. Jimmy Turner and Mike Kittner are doing. Follow along as they discuss their journey into and out of the venture capital space. What was venture capitalism like? What did we learn? And what are we doing next? All of that in this show and more.

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com

Looking to contact Mike Kittner about own-occupation disability insurance? Shoot him an email at michael@moneymeetsmedicine.com

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Frugal FIRE vs YOLO with Dr. Disha Spath

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Dr. Disha Spath) — Wed, 20 Dec 2023 06:00:00 +0000

Did you know that being frugal isn’t the same thing as being cheap? There is a balance to all things, personal finance included. This means finding the balance between YOLO Hedonism and the hedonic treadmill and eat-raman-until-you-retire FIRE.

If you are looking to create financial independence as a physician, tune in as we discuss how to find this balance with Dr. Disha Spath of The Frugal Physician.

Need Disability Insurance? Visit Money Meets Medicine

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Locums for Every Doc with Drs. Nii and Renee Daarko

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner, Drs. Nii and Renee Daarko) — Wed, 13 Dec 2023 06:00:00 +0000

Have you ever considered doing locum tenens work in order to create the freedom and flexibility you need? Tag along as we discuss all things locums with Dr. Renee and Nii Daarko.

Need Disability Insurance? Visit Money Meets Medicine

Download the 7-10 things you should consider before doing locums tenens work→ https://locumslifestyle.com

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Living Wealthy with Dr. Bonnie Koo

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Dr. Bonnie Koo) — Wed, 6 Dec 2023 06:00:00 +0000

Wealth is more than just money in the bank. At least, that is what our guest Dr. Bonnie Koo believes, and her thought process is pretty compelling.

On this show, we talk about:

money mindsets, including money scarcity
Alternative streams of income for doctors
How our upbringing can impact our view on finances
And much more…

Looking for Disability Insurance from a source you can trust? Visit Money Meets Medicine

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Marriage and Money with Dr. Kate Mangona

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Dr. Kate Mangona) — Wed, 29 Nov 2023 06:00:00 +0000

Money and marriage can be like oil and water. They just don’t mix. Yet, in a committed relationship, you cannot really avoid talking about money.

In this show, we talk about all things money and relationships. So, if you are married, plan to get married, or are in a committed relationship, in this show we discuss money dates, whether you should share bank accounts, and much more.

Dr. Kate Mangona is a double board-certified pediatric radiologist, supportive physician’s wife and mother to three little girls and a mini poodle.

She and her husband Victor, a pediatric radiation oncologist and tax code enthusiast, are active and passive real estate investors in thousands of multifamily units and single-family rentals including 3 luxury Airbnbs.

Medicine, Money, and Marriage Courses and Coaching

Looking for Disability Insurance from a source you can trust? Visit Money Meets Medicine

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Disability Insurance Mistakes with Mike Kittner

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Mike Kittner) — Wed, 1 Nov 2023 05:00:00 +0000

The #1 financial task for a doctor is getting disability insurance. Why? Because you can know everything there is to know about investing or paying down debt, but if you don't have an income... neither of them matter.

Looking for Disability Insurance from a source you can trust? Visit Money Meets Medicine

Our guest on this show, Mike Kittner went from being a middle school educator (married to a physician) to an insurance agent who helps doctors take care of that #1 financial task.

Tune in as we discuss:

The most common mistakes doctors make with disability insurance
Conflicts of interest within the insurance industry
How to make sure your disability policy is the right kind
Where to get disability insurance
The kind of riders that you want in your disability policy
and more

Looking for Disability Insurance from a source you can trust? Visit Money Meets Medicine

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Mortality and Money with Dr. Jordan Grumet

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Dr. Jordan Grumet) — Wed, 25 Oct 2023 05:00:00 +0000

Have you ever had an existential crisis? You know the “What am I doing with my life?” sort of question? And how does money play a part in your long-term view of your life? Do you want to leave a legacy? Do you want to make sure you maximize what you’ve saved?

In this episode, Dr. Jordan Grumet a palliative care and hospice physician discusses his experience with dying patient’s and their views on personal finance and the importance of purpose, connection, and identity.

Buy Taking Stock by Dr. Jordan Grumet

Need help getting disability insurance or student loan help from a company built by doctors, for doctors? Make sure to check out HelloAttend.com

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Using credit card points to fly first-class for free

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Dr. Lisha Taylor) — Wed, 18 Oct 2023 05:00:00 +0000

If you’ve ever wanted to fly first class but thought it was too expensive, this interview is for you.

Devon Gimbel, MD is known for helping physicians maximize rewards from credit card points so they can travel more, travel better, and travel often.

This feels like an especially relevant and timely conversation – especially since the data shows that about 38% of doctors have 3-4 different credit cards.

We have to wonder: should all doctors be using credit cards to optimize points and perks?

I got to sit down with Devon to talk about exactly this.

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Six-figure Student Loan Mistakes

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Dr. Lisha Taylor) — Wed, 11 Oct 2023 05:00:00 +0000

Let’s just be real: student loan guidelines are confusing and they’re constantly changing.

But if you’re like many physicians who have student loans, you’re well aware that if your payments haven’t resumed yet, they’re about to.

You want to make sure you’re on track and have a plan for repayment, so you can move confidently forward with your personal finance goals.

Student loan advice is also one of the things we love helping people with at Attend.

If you want a student loan expert to help you figure out the best course of action with your loans – including which plan to be in, whether you should consolidate, whether you should file your taxes jointly or separately if you’re married, or what to do when you finish training…

You can schedule a consultation right now at helloattend.com.

For those concerned about cost, we have a unique pricing structure at Attend where you can buy now, pay later through four monthly payments all at 0% interest.

Let’s dive into the 6 most common student loan mistakes to avoid for your best financial outlook.

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Following the Financial Crowd

thephysicianphilosopher@gmail.com (Dr. Jimmy Turner and Dr. Lisha Taylor) — Wed, 4 Oct 2023 05:00:00 +0000

Have you ever left a sporting event, following the crowd, and suddenly realized you were walking the wrong way? What if I told you this phenomenon has a name, and it impacts your money, too?

Understanding our own behavior when it comes to finance is essential because it helps us mitigate wrong-for-us decision making around money. Unless you know these roadblocks exist, you can’t do much to stop them from derailing your financial goals.

Last week, we shared why human behavior matters for our financial lives by taking a look at the first 5 out of 10 psychological phenomena that can (and do) affect your personal finance goals: greed, fear, ego/overconfidence, loss aversion, and analysis paralysis.

This week, we’re diving back into behavioral finance (one of our favorite topics) to share five more types of unchecked human behavior that can sabotage your journey to building the wealth you want.

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Greed, FOMO, and Bad Investments

thephysicianphilosopher@gmail.com (MD, Jimmy Turner, MD and Lisha Taylor) — Wed, 27 Sep 2023 05:00:00 +0000

Despite our best intentions, certain emotions can keep us from building wealth. After many years arming physicians with the information they need to achieve financial wellness, I had a significant realization.

Information is one thing – behavior is another.

As the saying goes, money is 80% behavior and only 20% math.

Not only do I want to share important information about personal finance, I also want to help you recognize how certain behaviors can (and do) affect your finances.

Drawing from one of the classic books about investing, let’s go over five common behaviors that could be keeping you from achieving your financial goals.

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How Doctors Can Get Good Financial Advice

thephysicianphilosopher@gmail.com (Jimmy Turner, MD and Lisha Taylor, MD) — Wed, 20 Sep 2023 05:00:00 +0000

Many doctors and high-income professionals hire financial advisors for any number of reasons. Either they’re too busy to handle their finances themselves, they don’t really know how to invest, or they want an expert on their side to make sure they’re on the right track.

So allow me to say from the start: I’m not against financial advisors, but I am against doctors (or anyone, really) being overcharged for bad advice.

There’s no shame in asking for help – you just want to get the help you need at a fair price.

You should be equipped enough to vet and evaluate your financial advisor so you’ll know whether they’re working well on your behalf. How can you be as confident as possible they’re acting in your best interest? This episode will help you find out.

Need help getting disability insurance or student loan help from a company built by doctors, for doctors? Make sure to check out HelloAttend.com

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Dr. Peter Kim and Physician Entrepreneurship

thephysicianphilosopher@gmail.com (Jimmy Turner, MD, MD and Lisha Taylor) — Wed, 13 Sep 2023 05:00:00 +0000

Have you ever thought about using real estate to reach financial independence, but you didn't want to be a landlord?

Recently I sat down with one of my good friends and one of the OG partners of The Physician Philosopher. He’s an anesthesiologist, husband, father, entrepreneur, as well as a real estate and physician side gig guru – of course, I’m talking about Dr. Peter Kim.

One of the interesting things about Peter's story is his transition from full-time practice as an OB anesthesiologist to stepping away from medicine and going part-time, to now his being on sabbatical. He's not sure if that's a permanent sabbatical or not, so we got to explore his thought process on that and his story.

So let’s dive into this discussion with Dr. Peter Kim and the intersection of all things entrepreneurship, side gigs, medicine, money, and real estate.

Need help getting disability insurance or student loan help from a company built by doctors, for doctors? Make sure to check out HelloAttend.com

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Disappointing Physician Income & the Arrival Fallacy

thephysicianphilosopher@gmail.com (Jimmy Turner, MD and Lisha Taylor, MD) — Wed, 6 Sep 2023 05:00:00 +0000

The arrival fallacy is a concept that’s very prevalent in medicine. Coined by Tal Ben-Shahar, it refers to the illusion of happiness that we think we’ll experience when we arrive at a completed goal or achievement (spoiler: it doesn’t work like that).

In medicine in particular, this is reinforced with lots of delayed gratification and long training periods with limited free time and low pay.

We think that finally achieving the next level (whether it’s residency, fellowship, or attending, receiving a bonus, a raise, etc.) will instantly make our lives better, because we’ll have more money and more control over our schedule.

We constantly look for “the light at the end of the tunnel” to get ourselves through years of grueling assignments and shifts. But a lot of the time we reach these specific benchmarks – or, we “arrive” – and it’s not at all how we thought it would be.

Gertrude Stein was right when she said, “There’s no there, there.”

How does the arrival fallacy come into play when we reach attending status and start pulling in a whole new pay grade? Let’s examine that…

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Dr. Hala Sabry from Physician Moms Group

Wed, 30 Aug 2023 05:00:00 +0000

Have you ever thought about what legacy you’ll be leaving behind and how money plays a part in that?

Lisha and I recently had a conversation with Dr. Hala Sabry, emergency medicine physician and founder of Physician Moms Group, a private online physicians community made up of over 120,000 physicians. Hala is passionate about helping women physicians fulfill their professional goals and discover the legacy they want to create – which includes building and managing wealth.

As you might imagine, we had a lot of topics to cover in our chat with Dr. Sabry. Tune in to learn all about:

Dr. Sabry’s recent trip to Africa – the most time off she’s taken outside maternity leave
Whether she’s always been financially savvy
The way she utilized her disability insurance
How she sees Attend helping doctors along their financial journey
The legacy of inspiration Dr. Sabry wants to leave for future leaders

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Doctors in Venture Capitalism with Dr Omar Nije

Wed, 23 Aug 2023 05:00:00 +0000

Recently Lisha and I sat down with Dr. Omar Nije to talk about his experience as a doctor in finance.

Dr. Nije’s perspective is unique because he’s both a physician AND a principal, but not in public education. He’s a principal at a venture capitalist firm, which is a world that most physicians I know haven’t been exposed to. Up until about 6 months ago, it was something I didn’t know much about myself.

Join the conversation to learn more about:

What venture capitalism is
Dr. Omar’s journey from medical school to principal at a VC firm
His connection to Attend, the company I co-founded
His mission to create more diverse opportunities in VC

Need help getting disability insurance or student loan help from a company built by doctors, for doctors? Make sure to check out HelloAttend.com

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More Student Loan Updates & Important Info

thephysicianphilosopher@gmail.com (MD and Lisha Taylor, Jimmy Turner, MD) — Wed, 16 Aug 2023 05:00:00 +0000

As they say, the only constant in life is change. The same is true when it comes to the resuming of student loan payments this fall. Staying up-to-date on all the relevant information is key to effectively managing your student loans. But the student loan landscape is changing fast. So we’re here to help.

Since we last spoke about student loans in July, more important updates to loan terms have been released. If you’re someone with student loans who wants to make sure you have everything in order before payments resume September 1, let’s talk about the factors you should be aware of so you’re as prepared as possible.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Talking About Finances With Your Partner

thephysicianphilosopher@gmail.com (MD and Lisha Taylor, Jimmy Turner, MD) — Wed, 9 Aug 2023 05:00:00 +0000

According to studies conducted by the American Psychological Association, the number one financial stressor for households is money - personal finance. That makes talking about money with your partner a really important topic for everybody to understand.

Why is talking about money with your partner important?

For alignment with your partner
To ensure you’re working towards the same goals
Personal finance is one of the top reasons for divorce
Divorce is one of the biggest wealth-killers

I want you to live a life of wellness, and for many people that means having the money you need and people you love to share it with.

So whether you're married or not, you should be having financial conversations with the significant other in your life.

But maybe first you need to know HOW to have this conversation. Check out this episode to learn more.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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The Importance of Keeping Investing Stupid Simple (KISS)

thephysicianphilosopher@gmail.com (MD, MD and Lisha Taylor, Jimmy Turner) — Wed, 2 Aug 2023 05:00:00 +0000

Did you know that when it comes to investing, keeping it simple often leads to better returns?

Keeping it simple is not just my or Lisha’s opinion - studies show that this is a more effective, sustainable way to go about investing.

Why? Because it turns out that as humans, we don't like as many choices as we think we do. We take action less often when we feel overwhelmed with choices. Just think of the last time you asked your partner where they wanted to go for dinner…

In fact, in a jam (yes, jam) display study on consumer habits, a display case with 24 varieties of jam received more customer traffic but ten times fewer sales than a display case featuring only 6 jams. When we have too many choices, we often don’t choose at all. Also known as: analysis paralysis.

We love talking about the psychology of investing, so let’s dive into some of those principles and how simplicity can help you when it comes to real-life application.

In this episode, we discuss:Examples of analysis paralysis (7:25)
How Lisha operates psychologically when it comes to investing (10:06)
A great way to start when you’re new to investing (15:49)

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Plan for student loans when payments restart

thephysicianphilosopher@gmail.com (MD and Lisha Taylor, MD, Jimmy Turner) — Wed, 26 Jul 2023 05:00:00 +0000

For those who have no idea what to do with the upcoming student loan payments restarting, and the millions who will need to enroll in a student loan plan… are you overwhelmed yet?

Understandably, a lot of physicians are anxious about how loan terms are going to roll out, what it means for their finances, and how it will affect their lives. As we know, keeping up with the recent loan changes is an ongoing process, and it can be hard to keep all the details straight. Plus, how do we know the advice we’re getting actually applies to our specific loan scenario?

Help is here. Today, we’re going to share some of the specific loan scenarios we’ve encountered when we help physicians manage their finances through Attend.

Tune in for step-by-step instructions on how to figure out your best options for student loan repayment.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Personal Finances and Summer Vacation

thephysicianphilosopher@gmail.com (Jimmy Turner, MD and Lisha Taylor, MD) — Wed, 19 Jul 2023 05:00:00 +0000

Whether you’re planning to take a vacation this summer or in the near future, you may be looking for some financially savvy ways to prepare. Lucky for you, one of the secrets of life that I've learned is how to incorporate intentional planning when it comes to personal finances and summer vacation.

That’s what this week’s Money Meets Medicine podcast is all about.

Just a few of the topics we’ll cover include:

3 ways vacation gives us psychological benefits

How to be intentional about taking vacation
Saving for vacation in a way that works for you
Tips for making travel more manageable

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Dr. Glaucomflecken Talks Personal Finance

Wed, 12 Jul 2023 05:00:00 +0000

We interview Will Flanary, who is perhaps better known by his comedic stage name: Dr. Glaucomflecken. Just a few of the awesome topics we cover in our conversation:

Charitable giving
Will’s battle with testicular cancer and the time he had a cardiac arrest
His thoughts on physician side gigs and residents unionizing
… he even shares his biggest personal finance mistake

Click here to download the Attend App for Doctors.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Financial Considerations When Starting a Job

thephysicianphilosopher@gmail.com (MD and Lisha Taylor, Jimmy Turner, MD) — Wed, 5 Jul 2023 05:00:00 +0000

July is the time of year when those in the medical field experience the most transition – whether to your next level of training, moving to a new institution for fellowship or residency, or taking your first job as an attending. It can be overwhelming.

Make sure you’re equipped with the right questions to ask to make your job transition less intimidating and stressful. Here are a few financial considerations to make when you’re starting a job.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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9 Considerations When Changing Jobs

thephysicianphilosopher@gmail.com (MD, MD and Lisha Taylor, Jimmy Turner) — Wed, 28 Jun 2023 05:00:00 +0000

50% of doctors change jobs in the first 2-4 years of their career, but knowing how to properly handle a job transition is relevant to every physician at every stage of their career. Financial advice for doctors doesn’t often cover this topic, so we’re more than happy to dive into it with you here.

Maybe you’re coming out of your first job in training, maybe you’re an attending changing jobs, or you’re moving out of academics to another field. You honestly don’t know when certain opportunities will arise, or how life will happen and cause you to change your plans.

Lisha has a job transition on the horizon herself as she prepares to leave her residency in LA and become an attending physician, so it’s a timely topic and widely applicable no matter where you are in your career journey.

Job transitions can be tricky enough when you’re careful. There are a few more things to consider in a new job as a physician than in most other careers - we’re going over 9 today. Be sure to keep them in mind as you set the course for your next career move.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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3 Big Updates On Student Loans

thephysicianphilosopher@gmail.com (MD, Jimmy Turner, MD and Lisha Taylor) — Wed, 21 Jun 2023 05:00:00 +0000

You may have already heard about President Biden’s student loan forgiveness plans, but what does that mean for you?

We’re covering those qualifiers today, plus identifying three 2023 dates in particular that really matter for those managing student loan debt. Join us as we walk through those three important dates, what they mean, as well as the potential impact.

Plus: find out how to make sure you don’t get stuck with a surprise 4-figure loan payment.

It’s everything you need to know about student loans as a doctor in 2023.

Full disclaimer: this episode was recorded in advance. Please know any of this information could change at any time, but all information is true and correct to the best of our knowledge as of the time we shared it with you.

White house memo on student loan changes: https://www2.ed.gov/policy/highered/reg/hearulemaking/2021/futureofpslffactsheetfin.pdf?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Saving for Tomorrow While Enjoying Today

thephysicianphilosopher@gmail.com (Jimmy Turner, MD, MD and Lisha Taylor) — Wed, 14 Jun 2023 05:00:00 +0000

Did you know that it's possible to make great financial progress while you spend money on things you enjoy? Yep, you read that right.

It might be surprising to hear this in the financial space, but you worked hard to get to where you are. You deserve to enjoy some of the spoils and riches of all of that work that you put in to go through college, medical school, and residency.

In the physician finance blogosphere, there are financial gurus that are out there who paint a dichotomous picture of only two possible money management options. Either you eat ramen for five years after you finish residency so you can meet your financial goals. Or you fall into the camp of YOLO hedonism, living it up, spending every dime and not saving anything.

This black-and-white approach skips the view that you can do a little bit of both.

You can be financially responsible for those first three to five years and for every year after that. AND, at the same time, you can actually enjoy life.

It’s about finding balance.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Do Bonds Belong in Your Portfolio?

thephysicianphilosopher@gmail.com (Jimmy Turner, MD, MD and Lisha Taylor) — Wed, 7 Jun 2023 05:00:00 +0000

Did you know that as interest rates rise, the value of bonds falls? Should you even care about that? Are bonds a good investment for doctors?

In this episode, we’re tackling these questions and discussing the purpose of bonds in a doctor's portfolio, as well as the nuance of our current high interest environment.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Pre-Tax versus Roth Investments

thephysicianphilosopher@gmail.com (MD and Lisha Taylor, MD, Jimmy Turner) — Wed, 31 May 2023 05:00:00 +0000

Maybe you're starting your intern year and you're considering investing as one of your steps in that journey. As July approaches, maybe you’re transitioning as a trainee from an institution or to a new job, you might be asking yourself, “Should I be investing in pre-tax vs Roth?”

It’s a really interesting topic and an important question, especially as interest rates and inflation changes.

When someone slides that 401k or that 403b form in front of you, it often gives you the option to choose whether you want to invest in a traditional pre-tax method where the money is taken out of your paycheck before it ever gets taxed. Or do you want it to get taxed immediately, and then get invested knowing that it'll never get taxed again in the future?

As it's been a couple of years since we tackled pre-tax versus Roth on this show, that’s what we’re diving into in this episode. We'll help you figure out the answers to these questions, or at least help you to make a more informed decision.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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How to Save More Money

thephysicianphilosopher@gmail.com (MD, MD and Lisha Taylor, Jimmy Turner) — Wed, 24 May 2023 05:00:00 +0000

If you’ve ever needed to save up for a wedding, a car, or a home, yet you weren't quite sure about the best way to do it, this episode is for you.

There are lots of reasons why you might be thinking about setting up short-term savings (savings you intend to need within 3-5 years).

But figuring out how to save money can be easier said than done. With so many options for investments and money management, how do you know the best place to start? And how can you be sure you’ll reach your savings goal by the time you’ll need the money?

Let’s go over the 4 qualities your short-term savings methods should have, as well as ways to save money that feel simple and aligned with your personal finance goals.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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The Diminishing Return of Working More

thephysicianphilosopher@gmail.com (Jimmy Turner, MD, MD and Lisha Taylor) — Wed, 17 May 2023 05:00:00 +0000

It often pays to work smarter, not harder, yet many doctors put in more and more hours to make more money in medicine. But is working more always a good idea?

I think there are pros and cons to working more shifts in medicine. Personal finance is personal, and you have to assess whether you feel you’re being compensated fairly for the time and energy you put into your work.

If you’re not, you might be working for diminishing returns.

Yes, you have expenses to cover, but remember the importance of work life balance, especially as it pertains to physician burnout.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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High-Interest Environment: Invest or Pay Off Debt?

thephysicianphilosopher@gmail.com (MD, MD and Lisha Taylor, Jimmy Turner) — Wed, 10 May 2023 05:00:00 +0000

With inflation and interest rates being what they are, one of the most common questions that we get nowadays is, “Should I invest or pay off debt? What should I be doing with my money?”

Everywhere in medicine, inflation has an impact. One of the common areas where this naturally happens a lot is in regards to reimbursement rates and income. Doctors realize, “Hey, I haven't gotten a substantial raise in five or ten years, maybe more. And yet, inflation in 2022 is 6-9%.”

So when we face these unprecedented rates of inflation, it makes sense to ask, “Should I invest or pay off debt?” Let’s dive in by covering specific financial tasks that doctors need to take into consideration.

Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com

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Money Mistakes We Made in 2022

thephysicianphilosopher@gmail.com (MD, Jimmy Turner, MD and Lisha Taylor) — Wed, 3 May 2023 05:00:00 +0000

Even though we’re self-proclaimed money nerds, it doesn't mean we don't make mistakes.

Physician finance isn’t your run-of-the-mill financial strategy. We have certain exceptions and special circumstances to watch out for. And sometimes even the most seasoned pro can make money mistakes. We’re still human, after all.

So let’s normalize the idea that we’ll run into snags and learn new lessons as we work to figure out our personal finance goals.

Tune in as Alicia and I share all the gory details of the financial mistakes we made in 2022.

Looking to increase your financial literacy? Make sure you check out Medical Degree Financial University: MDFU.CO

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