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
May 4, 2020 • 27min
May the 4th Be With You
It's Star Wars Day! So, expect a super nerdy show. The wisest Jedi of them all, Yoda, teaches us about tricking our minds into doing something we didn't think was possible. How does that equate to your finances? Let's jump into why you consider these Jedi mind tricks to build better habits and become mindful of your spending behavior. In the market for disability insurance? Check out our friends at Pattern: www.financialresidency.com/pattern
Apr 27, 2020 • 36min
How to Buy Disability Insurance During a Pandemic
I've been getting a lot of questions lately about insurance and how COVID-19 is affecting many in our audience. Some of you have disability, some of you don't. If you don't, I've got an expert on from Pattern, Matt Wiggins, to help you understand why the time is now. Get your disability coverage with Pattern: www.financialresidency.com/pattern
Apr 23, 2020 • 15min
Curbside Consult: Quick Updates On Round 2 Of The PPP And Stimulus Checks
Economic Injury Disaster Loan Emergency (EIDL), Paycheck Protection Program (PPP), stimulus packages, tax breaks, SBA loans? All of that in this super short show. I'd love to answer your questions, please email them to me at Ryan@FinancialResidency.com or click on the link to leave me a voicemail at www.FinancialResidency.com/Question
Apr 22, 2020 • 8min
Curbside Consult: Unique Considerations When It Comes to the 457b
Here are my thoughts on how Roth contributions and conversions in a governmental plan are permitted; such contributions are not allowed in private tax-exempt 457(b) plans. I'd love to answer your questions, please email them to me at Ryan@FinancialResidency.com or click on the link to leave me a voicemail at www.FinancialResidency.com/Question
Apr 21, 2020 • 9min
Curbside Consult: What To Look For In The Transition From Residency To Attending
You may have asked yourself what are some of the biggest considerations you need to think about before you start working as an attending. While I can't go over everything in a curbside consult, here are my thoughts on successfully making the transition from being a resident to attending. The Financial Fellowship is OPEN! Reserve your spot now!
Apr 20, 2020 • 56min
The CARES Act and The Surprising Benefit for Doctors
This recording was done with Student Loan Planner's, Travis Hornsby, as a result of the changes in the law for student loan debt in the last couple of months. There were several changes you should know about regarding repayment restructuring, suspension of payments, forgiveness, refunds, and the obligations to the PSLF program in general in light of The CARES Act. These are the high-level headlines (and the impact on student debt) you really need to pay attention to. Feel like you need a helping hand to navigate the new changes to the law for your student debt? Reach out to Travis at www.financialresidency.com/travis
Apr 19, 2020 • 8min
Curbside Consult: Confused on how much term insurance you need?
You know you need life insurance but not sure how much you need? While everyone's situation is different (turns out, personal finance is… personal), I give my take on how to best calculate how much coverage you need. Want to create a financial plan for under $25? Pick up a copy of our book on Amazon https://amzn.to/2VEhDZd
Apr 18, 2020 • 9min
Curbside Consult: Following Your Money Down The Cash Flow Waterfall
You finally started to manage your cash flow (aka the dreaded b word… budget!) and not sure what to do with money as it comes in. It can get confusing fast. Let's dive in and talk about the cash flow waterfall and how your money could be allocated as you continue to improve your cash flow. The Financial Fellowship is OPEN! It's likely going to fill fast, reserve your spot now.
Apr 16, 2020 • 6min
Curbside Consult: A Special Thank You To Our Community
These daily shows exist to help you fight through the tough times and the long hours. To be a familiar voice during the chaos. Hopefully it's making an impact, but others want to chime in and say their thanks, so take a quick listen. You aren't alone and you are so appreciated.
Apr 15, 2020 • 8min
Curbside Consult: Better To Do It Yourself or Hire It Out?
Trying to figure out if you ever need to hire a financial planner or not? Or maybe just trying to plan out when the "right time" would be. Well, as a financial planner, here are my thoughts on both of those questions. The Financial Fellowship opens next week! It's likely going to fill fast, reserve your spot now.
