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
Jul 13, 2020 • 35min
Pay Down Debt, Invest? Which one is best?
If you had only one choice, would you pay down debt or invest? White Coat Investor helped us navigate this same question last year. See what he said.
Jul 6, 2020 • 27min
The Simple Breakdown on Mortgage Interest Rates
Most people don't understand how mortgage interest rates work and why they change. Having a basic understanding on how interest rates affect your payment and your overall cost of borrowing is critical to your financial success. Don't get stuck paying 10's of thousands of dollars to the bank that you didn't have to. Get notified for Financial Residency's upcoming book, Hippocratic House: Do No Harm When Purchasing Your First Physician Home by going http://financialresidency.com/preorder
Jun 29, 2020 • 46min
What Your Financial Advisor Should Be Doing
Financial advisors are the least trusted professional in the finance industry. Why is that? It has to do with their conflicts of interest. Some of you don't know, I'm a fee only financial planner and it IS my full time job. I do it every day, all day. That's why I offer this information to protect you from those without your best interests at heart. Want to work with the team at Physician Wealth Services, my fee only financial planning firm? Find us at www.physicianwealthservices.com
Jun 22, 2020 • 42min
The Basic Structure of Your Financial Plan
Most of you know the basics of establishing a budget if you didn't already have one or sorting out your student debt repayments. What else needs to happen as part of your post graduation plan? Stay tuned to find out. Have you checked out our latest book Financial Residency: Create Your Financial Plan Without The Long Hours and Sleepless Nights on Amazon. Get your finances in order starting now.
Jun 15, 2020 • 31min
The Meaning of Time Management in Medicine
Maintaining work–life balance as a physician necessitates learning how to improve efficiency and effectively manage the limited resource of available time. Dr. Phil Boucher of the Private Practice Matters Podcast shares how other physicians can be intentional with their time to reduce burnout and simply enjoy life. Haven't bought disability insurance yet? Tisk, tisk... No worries. Our friends at Pattern want to help. Connect with them at www.financialresidency.com/pattern
Jun 8, 2020 • 27min
Passive Real Estate Investing & 3 Different Ways on How to Do It
Ever wonder what it takes to generate passive income with real estate? Cathy Carroll, MD, CFP, gives us her take with these 3 ways to invest. Get on the right financial path in residency with The Physician Philosopher's MD to Financially Free Course here: www.financialresidency.com/mdfree
Jun 1, 2020 • 30min
The Right Way to Do Real Estate Professional Status
Semi-Retired MD's, Leti and Kenji, are absolutely on FIRE... FAST FIRE, that is. Having achieved financial independence in a relatively short period of time, they discuss how they did it with REPS (Real Estate Professional Status) and how they teach other physicians and high income professionals to do the same. Speaking of teaching, have you checked out Semi-Retired MD's Zero to Freedom Using Cashflowing Rentals course yet? Get the training you need to be on your way to FAST FIRE here: financialresidency.com/srmd
May 25, 2020 • 55min
An Empathetic Way To Get On The Same Financial Page As Your Spouse
Is there a way to be more empathetic with your spouse who just isn't on the same financial page? Yes! There is. And, we have the perfect guests on this show, Nick and Hannah from Mapped Out Money, to share what they did in their own marriage. Disability insurance doesn't have to be hard to get. Let our friends at Pattern help guide the way: www.financialresidency.com/pattern
May 18, 2020 • 34min
The Best Time to Start Saving for Your Child's College Education
When do you begin to start saving for your kids' college education? Brian Eufinger, co-founder of Edison Prep, says it's sooner than you might realize. Looking for a physician mortgage loan expert in your state? Jonathan C. Brozeck of US Bank is licensed in all 50! Find him here: www.financialresidency.com/usbank
May 11, 2020 • 33min
You Should Do What When Refinancing Your Loans?
Addressing the pros and cons of refinancing your student loans, award-winning, Leslie Tayne of Tayne Law Group, says physicians need a plan to pay down their debt. Got loans? Here's what to do about it. Looking for a physician home loan? Check out Mike Fitzmeyer with SunTrust (now Truist): www.financialresidency.com/truist
