Money Meets Medicine

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

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

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

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”

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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