Financial Residency
Financial Residency Network
As a doctor, you spent decades in school to get to where you are. Unfortunately, during all those years in medical school and residency, you probably didn't receive a financial education. But, not to worry. That's where I come in. Think of this podcast as your financial residency without the long hours and sleepless nights! I will guide you through a financial education resulting in money confidence and clarity in this critical aspect of your life. You'll understand how you make money, how you spend money, how your hard-earned money can work for you, and how to protect yourself and your family. I have witnessed residents and fellows bombarded by life and disability insurance salesmen and other "investment" pitches that are not in their best interest. You didn't receive any formal financial education in your decades of medical training, so how are you supposed to know the good financial advisors from the bad? This podcast will help with that. Remember, it's ok to not know the difference between a ROTH IRA and a 403b or which 529 plan is best. This podcast will simplify highly complex concepts and translate industry jargon into plain English. Are you ready to take action and make smarter, more informed financial decisions? Great - let's do this! Let your financial residency begin.
Episodes
Mentioned books
Jun 21, 2023 • 3min
Coffee & Contracts: How far to push in Negotiations?
Today we're talking about how far to push when it comes to negotiations. Link: www.ContractDiagnostics.com
Jun 20, 2023 • 7min
Mortgage Minute: When you need a Preapproval not a Prequalification
If you are in the process of getting a loan, you typically need to talk to the mortgage loan officer before you make an offer on a house to know if you qualify for the loan. The quickest way to know if you qualify if you get a Prequalification, which is given by the loan officer based on the information you provide. But sometimes you need to get a Preapproval, which is a loan that has actually been run through underwriting with all of your documentation submitted and reviewed by the bank. This is especially important if you have a complicated income, live on one of the coasts or are buying in a competitive market. If you want a free copy of Doug Crouse's book Hippocratic House, you can go to www.DougCrouse.com.
Jun 19, 2023 • 23min
Grand Rounds: Zoe Cangas talks about her physician spouse realtor network Moving Medicine Partners
Zoe Cangas is a realtor married to a physician. She has been working with physicians nearly exclusively for 5 years and realized they have unique needs when purchasing a house or moving to a new area. She created a nationwide network of other physician spouse realtors to help physician families when relocating. She talks about how her network benefits physician families and how she is still recruiting other physician spouses to join MMP. You can learn more about Zoe and her network at www.MovingMedicinePartners.com.
Jun 17, 2023 • 5min
Coffee & Contracts: Hospitalist Contract Admin Time
Today Jon talks about a hospitalist looking into another hospitalist position. She needed help reviewing the contract for the new position. Link: www.ContractDiagnostics.com
Jun 16, 2023 • 10min
Financial Vitals: What Do Your Finances Say About What's Most Important To You
Today we continue the talk on what your finances and how there's such a great indicator of how you're doing in living out your ideal life as a person. Link to: Values exercise (attached) Aligning Your Time And Money Management With Your Values -> https://financeforphysicians.co/2020/11/05/aligning-your-time-and-money-management-with-your-values-with-jeff-wenger/
Jun 15, 2023 • 3min
Coffee and Contracts: Visa Contracts need to Know
So we've got a quick blurb today on visa physicians and what they need to consider as they look at their employment contract and how they've differ than a traditional W2 physician. Link: www.ContractDiagnostics.com
Jun 14, 2023 • 10min
Financial Vitals: What Do Your Finances Say About Your Marriage
Today Daniel about your finances and marriage. Link to: Managing Finances As A Married Couple (with me and my wife, Alison) -> https://financeforphysicians.co/2022/11/01/managing-finances-as-a-married-couple/
Jun 13, 2023 • 7min
Mortgage Minute: Does getting a loan through your builder make sense?
Many times a builder will offer a mortgage with huge incentives to use their lender, but does it make financial sense? Oftentimes no. You may get a huge credit, such as $25,000, but if you look at the fees, interest rate and presence of PMI, it may cost you more than a traditional physician loan. At the end of the day, it's a good bet that nothing is given for free. It's important to ask for the loan estimate so you can compare credits to fees to see what the true offer is. To learn more about Doug Crouse or to request a free copy of his book Hippocratic House: Do No Harm When Purchasing Your First Physician Home, go to www.DougCrouse.com.
Jun 12, 2023 • 36min
Grand Rounds: Dr. Tom Davis shares his perspective about how being an employed physician may be keeping you in chains
Dr. Davis is a family medicine physician who made the jump to telemedicine before it became widespread. He also is also a coach and helps other physicians explore and sometimes transition to nontraditional or nonclinical careers. He is the author of "Telemedicine Confidential" and cofounder of NewScript.app which brings physicians together to find rewarding career paths if the more traditional route is no longer fulfilling. He explores his thoughts on why more physicians are finding themselves burned out and feeling like a cog in the wheel of corporate America.
Jun 10, 2023 • 11min
Financial Vitals: What Do Your Finances Say About You As A Person
Daniel talks about what is an important topic and that is, what do your finances say about you as a person. Link to: Net Worth Tracker -> https://financeforphysicians.co/2020/09/21/monthly-net-worth-tracker/ Cash Flow Tracker -> https://financeforphysicians.co/2021/02/01/monthly-cash-flow-tracker/
