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
Apr 14, 2020 • 10min
Curbside Consult: Mistakes Physicians Should Avoid with Life Insurance
You have heard the pitch, buy whole life insurance because it's the only way real to protect your family. The extreme selling on fear is disgusting and frustrating because as a physician, you likely don't need those types of products. Our listener was sold one and she's not sure what to do from here. Tag me on social and let me know what you think she should do! Can you spare 1 minute? Literally just 1. Call in your questions at www.financialresidency.com/question It's super easy and you can do it from your phone!
Apr 13, 2020 • 48min
Learn How To Utilize Revocable Trusts Effectively
It's kind of an uncomfortable topic to talk about, but cutting to the chase, at some level we're thinking about death and that's why estate planning is important. Part of that process is understanding revocable trusts and learning how to utilize them effectively. Notesong and Nathan of Thoughtful Wills, the estate planning practice Taylor and I used for our estate plan, shares the knowledge we need to know about. Ready to take the next step in your estate plan? Connect with Notesong and Nathan at www.financialresidency.com/tw
Apr 12, 2020 • 7min
Curbside Consult: The IRS and the Backdoor Roth IRA
Did you just complete your first backdoor Roth contribution and are now trying to figure out all the tax forms to file? Well, one of our community members just did this and is now trying to figure out the 8606 form and what she needs to include in her taxes. If you have a similar issue, jump on in. 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 11, 2020 • 8min
Curbside Consult: Back In Time With A Look At Gold
Thought about buying gold and not sure if you should or not? Since we are almost at the point that sanitizer is worth more than gold, maybe it's better to hoard that liquid gold… Ha. Well here are my thoughts on IF you should buy gold and where to do it if you want to. 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 9, 2020 • 7min
Curbside Consult: How Big Is Your Emergency Fund
Do you have health concerns and/or bad disability coverage? Heck even if you are healthy, you still need an emergency fund. Here are my thoughts on how much you should have in that piggy bank to save for a rainy day (or a pandemic.. ugh) 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 8, 2020 • 7min
Curbside Consult: Depressed watching your investments tank? Here's what you should do.
Feeling depressed watching the volatility in the stock market? Well, Melissa hasn't been feeling herself lately and wants to know what she can do. Again my crystal ball isn't working (I really should get a new one), but here are my thoughts on emotional investing. 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 http://www.financialresidency.com/question
Apr 7, 2020 • 8min
Curbside Consult: Interest rates are low but are home prices going to decline?
Prior to the pandemic were you trying to buy or sell a home and not sure what to do now? One of our community members was in that process and now is unsure of what to do. While my crystal ball is a bit dirty (anyone have a hand wipe?), here are my thoughts on what you need to think about if you are trying to jump into our out of the real estate market. 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 http://www.financialresidency.com/question
Apr 6, 2020 • 36min
Surviving Volatile Markets and Finding Your Ideal Investor Profile
The markets are going insane, but you don't have to. That's why it's important to know how it's affecting your investing behavior. Our next guest, Sarah Fallaw, founder of Datapoints and author of The Next Millionaire Next Door, shares what surviving the volatile markets looks like and finding your ideal investor profile. Want the investor profile Sarah is opening up to our audience on a LIMITED basis? Take it here: www.financialresidency.com/datapoints
Apr 5, 2020 • 6min
Curbside Consult: What are the 401k rollover rules?
Do you have some random retirement accounts from residency, fellowship or old jobs? Courtney does and she's trying to figure out if she should tackle that right now. Here are my thoughts on what you need to think about if you want to rollover your retirement accounts. 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 4, 2020 • 7min
Curbside Consult: What power of attorney covers everything?
Karen is looking to get her estate planning in order just in case her significant other ends up being exposed to this nasty virus. Here are my thoughts on what you need to get done to protect yourself and your family. Here is the link to the amazing estate planning attorney we used. https://financialresidency.com/TW
