Have you ever felt like things are getting really heavy? And that you need to make a change? That is what we are going to do today on the show today. We are going to pull back the curtain and talk about things that have been going on in our lives. Often people don’t think about the lives of the people behind the YouTube videos or podcasts like this one, Money Meets Medicine. So today we are going to dive in and talk about hard decisions on this podcast Money Meets Medicine. Join us as we explore why resting in your personal and financial lives is essential for healthy success. For doctors, the story has changed. Visit www.financialresidency.com/LocumStory to see if a locum tenens assignment is right for you. Do you know what can be an annoying process? Having to listen to ads in order to listen to podcasts. Do you know what’s not an annoying process? Working locum tenens with Weatherby healthcare. Our experts streamline everything from credentialing to housing with industry-leading technology and know-how so you can simply focus on what you love – practicing medicine. Head to www.financialresidency.com/weatherby to get started, and feel free to keep your favorite podcast on while you’re at it.

Money Meets Medicine

Hard Decisions on MMM

Have you ever felt the tension between needing to save more money (or pay down debt) and the human need to enjoy today? There is a phenomenon that happens in both coaching and personal finance, people learn the tools and then use the tools against themselves. So today we are discussing why you should make that big purchase you have been depriving yourself of and how to make sure you do it in a financially smart way.    Listen along today as we talk about that Porsche 981 Cayman S, house, and expensive vacation you want and how to get it. Learn how you can save for tomorrow while you also enjoying today. If you want to boost efficiency across your practice and make staff scheduling easier, try the Deputy app. You can try this smart technology for free by going to www.doctorpodcastnetwork.com/deputy 

Personal Finance Masochism & Physician Self-Compassion

Physician turnover is high, specifically after the first 2-5 years of training. With doctors changing jobs so often, it is important to establish an emergency fund early on (and to consider the cost of leaving a job in medicine).  So today we wanted to dive into why everyone, including us, says you need an emergency fund, where you should put that money, what to use it for, and what NOT to use it for. We are also going to do some real talk on doing the math BEFORE you decide to either change jobs or leave medicine altogether. Listen today so you know you are making the right decisions for yourself when it comes to your career and money. For more locum tenens information, www.doctorpodcastnetwork.com/locumstory is your final destination. 

Do Doctors Really Need Emergency Funds?

Our brains are not wired to think exponentially. They are wired to think linearly. Maybe this explains why so many doctors, well people in general, don't invest early enough and take advantage of one of our favorite tools- compound interest.  We like to believe that compound interest is the eighth wonder of the world. So on today's episode of Money Meets Medicine, we want to explain the magic of compound interest and show you how exponential growth is going to blow your mind. Join us today and hear why the impact of compounding is massive. This week's episode is sponsored by Deputy. To learn more about Deputy visit: doctorpodcastnetwork.com/deputy To join the Passive Real Estate Academy waitlist - and be eligible to save $200 off the course - click here --> https://thephysicianphilosopher.com/PREA

What Chess and Personal Finance Have in Common

As a physician, our goal is to help you make your money work for you. Help you get the things in life that you want. Pay down debt, spend on things you love, and... learn how to make more money from your money. One of the ways to do this is to save money. Today on Money Meets Medicine we are going to deep dive into how you, as a high-earning physician, can save money on taxes utilizing 1099 income. It is possible and remember, every penny you save on your taxes is a penny you put somewhere else that will benefit you either now or in the future. Deputy is a simple app that’s helped more than 250,000 workplaces tackle this problem. Deputy makes it easy to schedule staff in line with patient demand, communicate schedules with your team, and instantly find replacements when someone calls out sick.   To learn more — and try Deputy out for free — go to www.doctorpodcastnetwork.com/deputy   To join the Passive Real Estate Academy waitlist - and be eligible to save $200 off the course - click here --> https://thephysicianphilosopher.com/PREA

Solo 401Ks and Saving Taxes on 1099 Income

Last week on the podcast we started the ultimate financial checklist of must-dos for doctors. This is such an important topic and we didn't want to leave you hanging last week without the complete list. So this week we are picking up where we left off. Take out your notes and finish marking down the things you must do for your financial health as a doctor. Let's go.   Reminder! This is the LAST CALL in 2021 for the Alpha Coaching Experience. Doors close 9/1/21 at midnight.  So, if you are a physician who feels trapped in medicine, and you want to finally practice medicine on your terms... this is the last chance.  Click here to learn more about ACE --> thephysicianphilosopher.com/alpha. Reach out to Veena and her team at Vive Funds to find out how you can be a successful investor too by creating opportunities for you to build your portfolio. You can find them at doctorpodcastnetwork.com/vivefunds

Part 2: Must-Do Financial Checklists for Doctors

Making sure you set yourself up for financial success is one of the reasons we bring you this podcast every week. So we have come up with the Financial Checklist for Doctors that will help you position yourself for success when it comes to your personal finances.  If you have been wondering if you are checking the right boxes and doing the "right" things with your money then this episode is for you. Join us today to find out which boxes you need to check as a doctor when it comes to your personal finances and learn which ones you can skip.  Don't forget to sign up for the FREE LIVE upcoming masterclass,  “How Doctors Can Stop Feeling Trapped in Medicine: 3 Tools to Help Physicians Finally Practice Medicine on Their Terms”. If you are a physician who wants to learn how to find the personal and financial freedom to practice medicine on your terms, make sure to save your seat at thephysicianphilosopher.com/masterclass.

Must-Do Financial Checklists for Doctors

Odds are you have been pitched Whole Life Insurance and have no idea if it's a good idea or a bad idea. Since it is so common for a physician to get this pitch, we thought it would be good to discuss on the podcast so we could help you through what Whole Life Insurance even is, where the conflicts of interest are, the different life insurance options, and what to do if you have already purchased it and want out.  We know they don't teach this stuff in medical school, so listen today to find out exactly what the deal with Whole Life Insurance really is.  I wanted to invite you to sign up for a FREE LIVE masterclass called “How Doctors Can Stop Feeling Trapped in Medicine: 3 Tools to Help Physicians Finally Practice Medicine on Their Terms.” During this live masterclass, we will dive into what coaching is and how we help clients inside the Alpha Coaching Experience master their money and mindset so that they can practice medicine because they want to and not because they have to. www.thephysicianphilosopher.com/waitlist  Have you ever considered a different way of practicing medicine? Whether you are burned out, need a change of pace, or are looking to supplement your income, locum tenens might be the solution for you.    Not sure where to start? Locumstory.com is the place where you can get real, unbiased answers to your questions.    They answer basic questions like, “What is locum tenens?”, to more complex questions about pay ranges, taxes, various specialties, and how locum tenens can work for you. Go to locumstory.com OR doctorpodcastnetwork.com/locumstory and get the answers.

WTD with Whole Life Insurance for Physicians

We don't want you getting free steak dinners, but making horrible decisions for your long-term investments. There is a lot of misinformation out there for physicians when it comes to personal finances. We don't want you to make the mistakes that most physicians do simply because you didn't know any better. So today on the podcast we are going to talk all about the mistakes that many doctors make, and how there is always a way out (you didn't think we would leave you helpless, did you?).    And if you are ready to experience freedom from medicine so you can practice because you want to and not because you financially have to, then make sure to join the waitlist for the Alpha Coaching Experience.   www.thephysicianphilosopher.com/waitlist  This episode is sponsored by Physician Coaching Alliance. Reach Dr. Weisman at www.doctorpodcastnetwork.com/PhysicianCoachingAlliance  

Free Steak Dinners & Physician Financial Mistakes

The personal finance space is full of rules. Things you should be doing with your money and things you should stop doing with your money. Certain numbers you should be aiming for at specific points in your life. But do you really need to follow every single money rule out there when it comes to personal finance? That is the question we are addressing today on Money Meets Medicine. Which personal finance rules and numbers are most important and which ones might not matter at all. This week's sponsor is Advice Media. You can find them at www.doctorpodcastnetwork.com/advicemedia

The Most Important Numbers in Physician Finance

People often think about money as the end goal. The reason they work, save, and make decisions in life revolve around this idea that they are striving to meet a money goal. But today we are going to flip the script on this mindset around money. Instead of thinking of money as the goal, we are going to look at money as a tool. In today's episode, we are going to dig into why we argue that investing money in non-traditional ways (aka spending it) is an important part of your money mindset. This week's sponsor is CareCloud. Reach them at www.doctorpodcastnetwork.com/carecloud

You Are Worth the Investment

Everyone in the personal finance space loves to tell you how you should save money. That's great, but what about spending it?  That is exactly what we want to dive into today on the show. Ways to spend money that make sense we have talked about before include spending to get your time back, vacations, and spending on others (gifts, holidays). But today we want to encourage you to spend lavishly on your on things you love. Yes, as money gurus we are going to talk to you about spending lavishly (and smartly of course). So let's go. One last thing before we go, remember Advice Media? Don’t forget to check them out if you’re looking to improve your website or need strategic insight on what your current online presence is doing (or not doing) for you. Contact Advice Media at www.doctorpodcastnetwork.com/advicemedia 

Why Doctors Should Spend Money

You might think that the only person that influences your financial success in the short term and the long term is you. The truth is you can have little to do with how successful you are in planning out your finances and investing. This is because there are certain people in your life that influence what decisions you make and how. These people ultimately determine your success.  Today, find out who the exact five people in your life are that might be supporting or derailing your success and what to do about it. And find out if you are in someone else's top five. One last thing before we go, remember Advice Media? Don’t forget to check them out if you’re looking to improve your website or need strategic insight on what your current online presence is doing (or not doing) for you. Contact Advice Media at www.doctorpodcastnetwork.com/advicemedia 

These 5 People Determine A Physician's Financial Success

Life is complicated. Sometimes it might seem like people think you don't invest because you are living in the now, but we know that is not usually the case. Instead, you are trying to make real-life, tough decisions like should you save for your kids' college or your own retirement? What if you need to help out your aging parents? How do you still make the best financial decisions for now and your future? In today's episode of Money Meets Medicine, we talk about a few different scenarios that life may present you when it comes to your finances and how to best position yourself if you ever have to make a choice. Dr. Errin Weisman is passionate about creating sustainable careers for women and fundamentally changing the toxic culture of healthcare one woman at a time. Check out her podcast Doctor Me First at https://www.doctormefirst.com   

Should Physicians Save for Retirement or Help Their Family?

We recently shared our top financial rules for success and our listeners wanted more. Specifically, our listeners that are current residents wanted to understand exactly what they should be doing and taking care of before graduating from training. So that is exactly what we wanted to share.  In today's episode, we will explain why you don't have to wait to get your finances in order, what you should be taking care of while in training, and how working on these important foundational items will set you up for early financial success as a practicing physician. Have you ever considered a different way of practicing medicine? Whether you are burned out, need a change of pace, or are looking to supplement your income, locum tenens might be the solution for you.    Not sure where to start? Locumstory.com is the place where you can get real, unbiased answers to your questions.    They answer basic questions like, “What is locum tenens?”, to more complex questions about pay ranges, taxes, various specialties, and how locum tenens can work for you. Go to locumstory.com OR doctorpodcastnetwork.com/locumstory and get the answers.  

The Top Financial Rules for Residents and Fellows

On Money Meets Medicine, Jimmy Turner, MD and Ryan Inman, a fee-only financial advisor, combine their experience to teach you about the personal finance topics you wish you had learned in medical school. The MMM podcast will help you tackle your student loans, achieve financial independence, invest for retirement, and decrease your financial stress and burnout. Come find out how much you can learn about money with the experience and perspective of a physician and a financial advisor combined into one of the best personal finance podcasts for doctors. Dr. Turner is a practicing anesthesiologist at Wake Forest and owner of ThePhysicianPhilosopher.com blog. Ryan Inman is the founder of Physician Wealth Services, a fee-only financial planning practice that works exclusively with physicians nationwide and is the host of the Financial Residency podcast.

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Money Meets Medicine

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