Financial Residency

Gain the knowledge you need to determine what kind of insurance product fits your budget, financial goals, and current situation by looking at the different factors affecting you in this two-part series Larry Keller and I cover the various facets of term insurance and disability insurance. We also give you the scoop on the discounts available to you, but not necessarily offered by an agent discussing your insurance options. Take control of your finances with our free financial audit checklist.

In this episode, I discuss the top 3 mistakes that physicians tend to make on their taxes with my guest Craig Cody. Make sure to subscribe to get our free templates!

In this episode, I answer several questions from listeners about how to handle their student loans. Travis Hornsby is back to help me out. Jump start your financial residency with these free resources!

I discuss 3 biggest mistakes that physicians make with their student debt with my guest, Travis Hornsby. Jump start your financial residency with these free resources!

We take on 5 listener questions, helping them understand their options concerning their student loans and hopefully inspiring all of you to get organized and take control over your finances. Robert Farrington and I discuss in detail the best student loan forgiveness program available for physicians, public service loan forgiveness (PSLF) as well as our opinions on when you should look at refinancing out of the federal loan program. In this episode, we answer the following questions. 1. What are my tips to help my clients to pay off their student debt? When should someone use a variable vs. a fixed rate when refinancing? What is better, the debt snowball method or the debt avalanche method when paying down debt? 2. 5 years into a 10-year process, are there any programs that we should consider? Is it even worth it to look into loan forgiveness programs at this point? 3. Do we put all our eggs in one basket hoping that PSLF happens or do we refinance the student debt and hope to pay it off in a 5-year time frame? 4. Is it better to pay the minimum and invest the rest or if it's better to pay a few hundred a month to cover the actual payment? 5. Should we start paying off some of their student loan debt, even though it won't make a huge dent in the overall balance or should we wait until after residency? If we wait until after residency, what should we be doing with the savings right now? Make sure to subscribe to get our free templates!

Whether you are going for public service loan forgiveness or looking to pay down your mortgage, we have some great insights on how to tackle all of your outstanding debt. Dr. Cory Fawcett and I discuss how he went through a major mindset shift that allowed him to crush $500,000 of his own debt in less than 6 years. We also answer this question on how to become debt free. If a physician wants to be debt free, what are some steps they can take if they just finished training? How would your advice differ if they are 10 or more years into their career? Would it differ if they were going for public service loan forgiveness? Take control of your finances with our free financial audit checklist.

We discuss in depth what is an HSA and who qualifies for an HSA. If you have a high deductible health plan (HDHP), you could qualify to open an HSA, which could be used as a great financial planning tool for healthcare related costs in retirement. Shobin Uralil and I tackle the terminology that you need to know to understand what are HSA qualified medial expenses and what is covered under a health savings account. If you are looking to make the most out of your health savings account, this episode is for you. Take control of your finances with our free financial audit checklist.

Time to answer listener questions about HSA's, 529's and investing. Enjoy! If you have a question keeping you up at night and would like to be featured on the podcast, click here to record your question today. Some of the questions featured on this episode are listed below. 1. Do you have any tips for how to save for a down payment on a house? 2. Looking into investing for my child's education. What are your thoughts on 529 plans, specifically California 529 plan? 3. How do I decide how much I should put into pre tax retirement accounts and how much I should place in more liquid investments? 4. How aggressive should my HSA portfolio be? 5. How do we invest? Jump start your financial residency with these free resources!

In this episode, we cover the best ways to travel and the best credit cards. While some of this may have sounded like a paid endorsement for Chase credit cards (it wasn't ☺), they really do just provide the most benefit when used together. Holly Johnson joins in to tell us how she searches and finds the best deals that allows her and her family to travel the world affordably. Make sure to subscribe to get our free templates!

In this episode, we jump into everything you need to know about physician mortgage loans. Doug Crouse and I tackle how physicians qualify for physician's mortgages and if doctors should still utilize conventional loans over physician mortgages. Every wonder how banks price interest rates or why they use lock in periods for the rates that they quote? We dive into those answers and more in today's show. Make sure to subscribe to get our free templates!