Money Meets Medicine

NASCAR star Kyle Busch's lawsuit against Pacific Life reveals serious pitfalls in index universal life (IUL) insurance. The hosts dissect the family's claims of over $10 million in lost premiums and the dangers of trusting complex financial products. They highlight how misleading sales tactics can ensnare high-income professionals like physicians. With insights on red flags, due diligence, and avoiding affinity fraud, this discussion serves as a crucial guide for anyone navigating the murky waters of finance.

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. Looking for own-occupation disability insurance? Get a quote from a company you can trust at https://moneymeetsmedicine.com/disabilityDownload a free copy of The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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.Looking for disability insurance from a souce you can trust? Get a quote from Money Meets Medicine Disability InsuranceTimestamps 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)**   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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.Looking for disability insurance but not sure how to get a quote you can trust? Get a quote from Money Meets Medicine Disability Insurance Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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.Every doctor needs disability insurance. To get a quote from a company you can trust visit https://moneymeetsmediine.com/disability Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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

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/freebookDisability 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.

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/freebookDisability 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.

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

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