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
Jan 16, 2019 • 34min
Part 2: How to Build a Budget That Actually Makes Sense
Don't subconsciously swing for the fences with your money. Get ahead by earning money, spending some, and saving the rest. Steve Crawford helps our audience figure out how to build a budget that actually works for them. He talks specifically on why shooting blind is an equivalent to not knowing your cashflow numbers and falling short of seeing long-term. Check out Part 2 of this 2-part episode here. Take control of your finances with our free financial audit checklist.
Jan 15, 2019 • 47min
Part 1: How to Build a Budget That Actually Makes Sense
Don't subconsciously swing for the fences with your money. Get ahead by earning money, spending some, and saving the rest. Steve Crawford helps our audience figure out how to build a budget that actually works for them. He talks specifically on why shooting blind is an equivalent to not knowing your cashflow numbers and falling short of seeing long-term. Catch Part 1 of this 2-part episode here. Make sure to subscribe to get our free templates!
Jan 8, 2019 • 49min
Principles of Set For Life: Achieving Financial Independence
You go to medical school, come out, and now are ready to achieve a life of financial freedom. Scott Trench is your guy to help you navigate a clear path forward. He recommends 4 pillars for physicians to build wealth, two of which include generating a large income and investing your accumulated assets for greater investment returns. Take control of your finances with our free financial audit checklist.
Dec 31, 2018 • 29min
Bonus Show - Money Care Specialists
We talk through this listener's goals and current financial status to see what he needs to do to be on the right track. Tim Baker joins on the conversation to offer his advice. Ted is 29 years old and a community pharmacist at a well-known retail chain. He has plans to marry his fiance, Ginny, who is finishing nursing school and lives with him. Will his finances allow him to plan for the wedding he and Ginny want? Jump start your financial residency with these free resources!
Dec 24, 2018 • 42min
The Importance of Community for Physician Spouses
Physician family finances can feel like a unique situation, usually due to a high debt load in comparison to other fields. These groups feel they can't talk to anyone leading to feelings of loneliness, esp. for their spouses. This episode's panel, Curtis Webster, Lara McElderry, and Donna Rovito, reminds us that being a part of a community is a huge part of sustaining sanity through a seemingly lonely time. Make sure to subscribe to get our free templates!
Dec 18, 2018 • 40min
The Makeup of a Physician Millionaire and How to Become One
This episode is high-impact on the perspective of how small actions translate to long-term lifestyle results. Sarah Fallaw tells our audience that behavior and mindset have a lot to do with whether a physician treks the millionaire path or not. Take control of your finances with our free financial audit checklist.
Dec 11, 2018 • 43min
Avoiding Lifestyle Creep
You've come out of residency and now have your first big paycheck. Do you do what a lot of physicians do? Buy, buy, buy? But, wait. That's not cool, especially for your desired long-term financial gains. In the end, you're really losing. In this 50th podcast episode commemoration, Whitney Hansen helps me create perspective around how to avoid lifestyle creep. Take control of your finances with our free financial audit checklist.
Dec 4, 2018 • 47min
The 4 Pillars of Vetting a Multifamily Sponsor
Basically having written the foundational fabric in which multifamily investing exists, Veena Jetti realizes not many people know how to vet someone like her. In this episode, she walks me through the 4 pillars of vetting a multifamily sponsor. Make sure to subscribe to get our free templates!
Nov 27, 2018 • 15min
Charity of Choice: "Give More HUGS" Helps Underprivileged Students
Give More HUGS, a 501(c)(3), has grown, in part, of its backing from the medical community. Founder, Chris McGilvery is a believer in providing resources to underserved areas. Since 2011, they've elicited donations for programming to help disadvantaged students. 92% of funds are committed for that purpose. Make sure to subscribe to get our free templates!
Nov 20, 2018 • 38min
The Positive Spin on Dealing with Physician Burnout
Physician burnout is a good thing? Dr. Jeff Smith talks about the overwhelm of the doctor's daily routines that contribute to a depersonalization of their work, but finds it to be an opportunity to shift course. He admits to experiencing burnout daily where he is forced to reassess and proactively change the situations contributing to an emotional breakdown. Make sure to subscribe to get our free templates!
