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
Oct 8, 2022 • 6min
Coffee & Contracts: Covid jobs
Today we're talking about covid jobs. LINKS: www.ContractDiagnostics.com Just as the right advice helps you thrive financially. The right support team allows you to excel professionally. Weatherby Healthcare's locums experts will match you with the best jobs, prepare you for success and provide 24/7 support. https://weatherbyhealthcare.com/
Oct 7, 2022 • 22min
Financial Vitals: Are You In For A Major Financial Surprise When Your Children Start College
Go with eyes wide open or be in for a major financial surprise when your children start college. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about you or your children funding their education. Topics Discussed: • Who should pay for college? You, your children, student loans, or scholarships • What has changed? Tuition costs, direct student loan cap, and responsibility • Little to No Financial Aid: Based on physician's above-average income • Other Options: 529 Plan, investments/cash accounts, income, student loans LINKS: www.WrenneFinancial.com Just as the right advice helps you thrive financially. The right support team allows you to excel professionally. Weatherby Healthcare's locums experts will match you with the best jobs, prepare you for success and provide 24/7 support. https://weatherbyhealthcare.com/
Oct 6, 2022 • 4min
Coffee & Contracts: Let us help - free education
Today I want to talk about education. I want to focus around education of physicians. LINKS: www.ContractDiagnostics.com Just as the right advice helps you thrive financially. The right support team allows you to excel professionally. Weatherby Healthcare's locums experts will match you with the best jobs, prepare you for success and provide 24/7 support. https://weatherbyhealthcare.com/
Oct 5, 2022 • 8min
Mortgage Minute: Using an ARM strategically to make home buying more affordable
Today I want to talk about how affordability. Link to website: https://dougcrousephysicianloans.com/ Just as the right advice helps you thrive financially. The right support team allows you to excel professionally. Weatherby Healthcare's locums experts will match you with the best jobs, prepare you for success and provide 24/7 support. https://weatherbyhealthcare.com/
Oct 4, 2022 • 18min
Financial Vitals: Are You Viewing Money As A Tool Or The End Goal
What's your perspective on money? Do you view it as a tool? Do you know how to use that tool? Is it like a hammer that you use to build a house, murder somebody, or that sits on the shelf and collects dust? In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about using money as a tool and what happens when people don't view money as a tool. Topics Discussed: • Money Spectrum: Some people go to extremes, but most are in the middle • Temptation: What is more important—more money or more time with family? • Money is a tool that does not buy happiness but helps you attain happiness • 3 Ways to Recognize Money as a Tool: ◦ A tool for what? What are you building? ◦ Learn to use the tool. Are you using money to build your ideal life? ◦ Maintain awareness about the outcome. Are you using money effectively? • Key Takeaway: Money should not be the end goal—you can't take it with you LINKS: www.WrenneFinancial.com Just as the right advice helps you thrive financially. The right support team allows you to excel professionally. Weatherby Healthcare's locums experts will match you with the best jobs, prepare you for success and provide 24/7 support. https://weatherbyhealthcare.com/
Oct 3, 2022 • 30min
Grand Rounds: How your contract might be affected by a merger or acquisition
Today, I have Jon Appino on the show to talk about how mergers, consolidations and private equity takeovers have affected physicians. LINKS: www.ContractDiagnostics.com Just as the right advice helps you thrive financially. The right support team allows you to excel professionally. Weatherby Healthcare's locums experts will match you with the best jobs, prepare you for success and provide 24/7 support. https://weatherbyhealthcare.com/
Oct 1, 2022 • 10min
Financial Vitals: Can You Max Out Both Your 403b and 457b Plans
If you are employed and work for a hospital system or plan to work for one in the future, do you have access to a 401(k), 403(b), and/or 457(b) retirement plans? In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how different retirement plans interact collectively. Can you max out both your 403(b) and 457(b) plans? Topics Discussed: Tax shelter limits for 401(k), 403(b), and 457(b) retirement plans • Maximum for Employees: ◦ 401(k)/403(b) is $20,500 combined per year ◦ 457(b) is $20,500 separate limit • Retirement plans with mandatory and required contributions • 457(b): Governmental or non-governmental plan, which is better and why? LINKS: www.WrenneFinancial.com
Sep 30, 2022 • 21min
Financial Vitals: Should I Change Jobs For More Money
Are you looking for another job, or are recruiters seeking you out for opportunities? If you were offered a different job, would you think about taking it? Why, or why not? There's a lot to consider. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about whether to accept another job. It can be difficult to make a decision and navigate your priorities as an in-practice physician. Topics Discussed: • Temptations: Financial aspect—try to not first look at the money/compensation • Values and Goals: What's most important? Family, work/life balance, pay? • Coworkers: Who will you work with and for? What kind of lives do they live? • Position: Is it a job you enjoy? Are the pay/benefits decent? What are the hours? • Student Aid: Confirm if the employer is Public Service Loan Forgiveness qualified • Insurance Coverage: Are malpractice insurance and tail coverage provided? • Employment Law: Hire a consultant or employment attorney to review contracts LINKS: www.WrenneFinancial.com
Sep 29, 2022 • 4min
Coffee & Contracts: Balancing Risk
Today we're talking about balancing risk. LINKS: www.ContractDiagnostics.com
Sep 28, 2022 • 4min
Coffee & Contracts: Identifying Trends
Today we're talking about trends we've been at this for 12 years helping physicians navigate job contract due diligence phase in signing or negotiating their employment contract. LINKS: www.ContractDiagnostics.com
