Is the mega backdoor Roth the ultimate tax shelter—or just a complicated headache? Today we are joined by Jeff Wenger to discuss this lesser-known strategy, breaking down how it works and when it makes sense, especially for high-earning physicians. Listen in as we walk through the four key contribution “buckets” in a 401(k), the pros and cons of using after-tax dollars, and what makes the mega backdoor strategy so unique (and often underutilized). You’ll learn who this applies to, the gotchas to...
Jun 24, 2025•37 min•Ep. 199
Is buying a home always the smarter move—or just what we’ve been told to do? In this episode, Jennifer Quire joins me to reveal the real pros and cons of renting vs. buying, especially for physicians facing big financial decisions during major life transitions. Listen in as we dig into how values, lifestyle, flexibility, and unpredictability play just as big a role as the math. You’ll hear about the side of homeownership that people rarely talk about, what most people don’t factor into the buyin...
Jun 10, 2025•23 min•Ep. 198
Is diversification overrated or more important than ever in today’s market? In this episode, I’m joined by Jackie Griggs to explain what diversification really means and why it matters now more than ever for physicians managing their own portfolios. Listen in as we break down how mean reversion impacts market cycles and why concentrating on the S&P 500 or individual stocks (like Apple) could leave you exposed to more risk than you think. You'll hear practical tips for building a resilient in...
May 27, 2025•29 min•Ep. 197
Are student loan repayment plans about to get completely overhauled? And what does that mean for physicians? In this episode, I’m joined once again by student loan expert Jeff Wenger to break down the proposed federal student loan changes that could reshape how physicians manage repayment, forgiveness, and financial planning. Listen in as we explore the potential elimination of popular IDR plans like SAVE and PAYE, the shift back to the original IBR, and the introduction of a new Repayment Assis...
May 13, 2025•38 min•Ep. 196
Have you ever felt like you’re way behind on your finances? In this episode, I'm joined by Dr. Bill Yount, practicing ER physician and host of the Catching Up to FI podcast, who's here to share how he turned his financial life around, starting at age 50. Listen in as we talk about real mistakes, real lessons, and the mindset shifts that helped him go from overwhelmed and burnt out to confident and financially free. You'll learn simple steps you can take if you’re feeling behind and why it’s neve...
Apr 29, 2025•54 min•Ep. 195
How do you teach your kids about money? In this episode, I sit down with Heather Lovallo to explore practical, real-life strategies for teaching our children financial responsibility. Listen in as we explore simple ways to help your children build strong financial habits—without needing to be a money expert yourself. Plus, you'll hear about resources, including books and activities, to make learning about money both fun and impactful for children of all ages. Transform your financial outlook tod...
Apr 15, 2025•25 min•Ep. 194
Are you chasing financial freedom or just another shiny object? Your buddy tells you about the next big investment—crypto, rental properties, AI stocks—and it all sounds too good to miss, right? So you dive in, and then... April Fools! You've lost it all. In today’s episode, I’m joined again by Jackie Griggs to shed light on one of the biggest pitfalls we see in financial planning: shiny objects. We're talking about those hot investment tips, buzzword trends, and “get-rich-quick” schemes that pr...
Apr 01, 2025•22 min•Ep. 193
Are you ready to take the leap from residency to your first attending job, but wondering how to ensure your finances—and your family's future—are set up for success? In today's episode, I’m sitting down with Jordan, a second-year internal medicine resident who's preparing for his first attending role. He’s got his finances in solid shape, but he wants to make sure he and his family are set up for long-term success as he steps into this next chapter. Listen in as we talk about how Jordan is weigh...
Mar 18, 2025•59 min•Ep. 192
Disability insurance is a crucial safety net for physicians, but many don’t realize the hidden risks that could leave them financially vulnerable. In this episode, we welcome back Lawrence Keller, CFP®, CLU®, ChFC®, RHU®, LUTCF, a 34-year veteran in the insurance industry, to break down the complexities of disability coverage. With the landscape of disability insurance constantly evolving, understanding your policy’s fine print is more important than ever. Listen in as Lawrence shares tips on ma...
Mar 04, 2025•45 min•Ep. 191
Feeling stuck in your career? If you're unhappy, making a change might be the key to a better life—especially as a physician. In this episode, Dr. Ben Stone shares his journey of navigating burnout, balancing work and life, and making smart financial decisions. He opens up about his transition to earning physician-level income, avoiding lifestyle creep, and how his perspective on patient care evolved over time. Transform your financial outlook today! Access our exclusive free resources for physi...
Feb 18, 2025•43 min•Ep. 190
Is the push to retire early actually making your life harder? In this episode, we break down the FIRE (Financial Independence, Retire Early) movement and why so many physicians feel pressured to work excessive hours just to exit their careers sooner. We discuss the hidden costs of this mindset—burnout, stress, and missed life moments—and explore a more balanced approach to financial freedom. Instead of chasing early retirement at all costs, we share practical strategies for building wealth while...
Feb 04, 2025•25 min•Ep. 189
Is real estate the key to diversification, or is it a step toward concentration? Today we dive into the complexities of diversification in real estate investing with Certified Financial Planner™ Jeff Wenger. Listen in as we explore common misconceptions and discuss what true diversification looks like, particularly when it comes to balancing real estate with other investment options. You’ll learn the significance of having a varied portfolio, how real estate fits into broader investment strategi...
Jan 21, 2025•23 min•Ep. 188
What does your money say about your values and priorities? In this episode, we dive into the power of budgeting—not as a punishment, but as a tool to feel empowered and in control of your finances. Listen in to learn how to take a snapshot of where your money is going, organize your spending into categories, and align your financial habits with your goals. Whether it's planning for retirement, saving for holidays, or simply gaining clarity on your expenses, this episode provides practical steps ...
Jan 07, 2025•25 min•Ep. 187
With the recent election now over and year-end tax planning on the horizon, many investors are feeling anxious about the future of their portfolios. In this episode, we'll cut through the noise and provide practical advice to help you navigate these uncertain times. You'll learn how to maintain a long-term perspective, avoid impulsive decisions, and understand the potential impact of upcoming tax changes. We'll also discuss the importance of working with a financial advisor to optimize your inve...
Dec 24, 2024•24 min•Season 1Ep. 186
How much house is the right amount? In this episode, Jen Quire, Partner and CFO, explores the financial and emotional complexities of buying a home. From changing American expectations of home size to navigating lender recommendations, Jen emphasizes the importance of aligning home purchases with your financial goals and lifestyle priorities. She shares insights on evaluating trade-offs, such as the strain of larger homes on personal finances and relationships, and explains why "dream homes" mig...
Dec 10, 2024•25 min
Are you unknowingly paying more taxes than you should? Double taxation is a common but avoidable issue that costs people thousands of dollars each year. In this episode, financial planner Hugh Baker joins us to break down three critical tax strategies that are often misused. Listen in to learn how to recognize the pitfalls of the backdoor Roth strategy, why mixing account types is a bad idea, and the importance of saving key tax forms to prevent costly mistakes. Transform your financial outlook ...
Nov 26, 2024•33 min
We’re back! After a brief hiatus, we’re excited to relaunch Finance for Physicians with fresh insights and a commitment to bringing you new episodes twice a month. Today, I’m sitting down with student loan expert Jeff Wenger, and together we’re tackling the latest in student loan chaos—specifically, the SAVE Plan, which has recently been hit with a court injunction, throwing many borrowers into uncertainty. Listen in as we break down how this ruling could affect physicians working toward Public ...
Nov 12, 2024•23 min
We’re going into the vault again to bring back the stories of Drs. Diana Girnita, Anastasia Boyer, and Daniel Paull, to give you side-by-side examples of physicians deciding to take the leap into direct care. Each of them had slightly different reasons to do it. They all agreed their patients needed better care. They all had to deal with a tricky financial (and social) transition. Let’s rewind, reflect, and reignite our passion for transformative healthcare together. Tune in and get ready to be ...
Feb 27, 2024•59 min•Ep. 182
You’re going to die after listening to this. That’s a hard truth, but most of us don’t act that way. In this podcast, we talk to a couple of doctors that did. And in doing so, found a way to align their passions with their paychecks. They found a way to love what they do. So listen in as we talk to Doctors Jordan Grumet and Andy Berkowski whose brushes with death gave them the courage to take real action towards finding true fulfillment in their work. Dr. Jordan Grummet was a hospice doctor when...
Feb 20, 2024•54 min•Ep. 181
In speaking to hundreds of doctors a month, it's obvious that many feel trapped by their hospital salary, and that can lead to burnout, but it doesn't need to be this way! That's why we went back into our past episodes to give you 3 examples of physicians like you who have broken free of the golden handcuffs put on them by hospitals. You'll see that they each had 3 commonalities: There was an "AHA!" moment when their priorities shifted. For these 3 physicians, it coincided with the birth of a ch...
Feb 13, 2024•54 min•Ep. 180
It's completely normal to want to increase your spending as soon as you become an attending physician (you definitely earned it), but if your monthly expenses are forcing you to stay in a situation you don't like, it's a real problem. The best way to free yourself from that burden is to live a little below your means until you find yourself in a sustainable situation. That's why we put together this compilation of advice from other doctors who have done this. You'll hear from Dr. Disha Spath, Dr...
Feb 06, 2024•41 min•Ep. 179
Join Daniel Wrenne in this episode of Finance for Physicians as he sits down with mortgage expert Richard Ricci. Together, they unravel key insights to guide physicians through the journey of buying their dream homes. Discover the importance of a solid financial plan, the magic credit score number for optimal mortgage terms, and how timing can be the game-changer in your home-buying process. Tune in for expert tips tailored to physicians, ensuring a smooth and confident transition into homeowner...
Jan 30, 2024•48 min•Ep. 178
Embark on a transformative journey with Daniel Wrenne, the trusted financial advisor dedicated to physicians' financial well-being. In this compelling episode of Finance for Physicians, Daniel unravels the art of intentional living through values-centric decision-making. Clarifying Your Values: Daniel guides you through thought-provoking questions, helping you uncover and prioritize your core values. Understand why this step is pivotal in making informed decisions across both personal and financ...
Jan 23, 2024•37 min•Ep. 177
Join Daniel Wrenne in this episode of Finance for Physicians as he tackles the common question among physicians - can real estate income replace your salary? Daniel provides a high-level overview of real estate investment options, from ultra-passive REITs to more hands-on approaches like owning single-family homes. Discover the pros and cons of each method, considering factors like time commitment, risk, and potential returns. Daniel also shares insights into the slow-yet-steady growth of ultra-...
Jan 16, 2024•14 min•Ep. 176
Welcome back to Finance for Physicians. Today, Daniel Wrenne continues the discussion on crucial questions from physician families. In this episode, he delves into the realm of product-based advisors and the complex world of "jack of all trades" advisors. Daniel breaks down the product-based advisor model, emphasizing their focus on selling financial products like disability insurance and life insurance. He unravels the incentive structures, revealing how these advisors get compensated and why t...
Jan 09, 2024•14 min•Ep. 175
Join Daniel Wrenne on Finance for Physicians as he tackles a burning question: Is the AUM Advisor approach the right fit for physicians? In this episode, Daniel breaks down the 1% fee structure, sheds light on service levels tied to account size, and unveils potential conflicts of interest. Discover the ins and outs of AUM advisors, from manageable fees for smaller balances to potential drawbacks as your investments grow. Daniel emphasizes the importance of trust and awareness in the advisor-cli...
Jan 02, 2024•15 min•Ep. 174
Today, we delve into a crucial topic that concerns many of us with aging parents and their financial well-being. Daniel Wrenne here, and in this episode, we're sharing a real-life case study that uncovers potential pitfalls in managing a family's wealth, especially when cognitive decline becomes a factor. In this eye-opening episode, we discuss the story of Josh and Mary (not their real names), a couple with substantial assets managed by an advisor. As Josh's parents age, he becomes increasingly...
Dec 26, 2023•16 min•Ep. 173
In this episode of Finance for Physicians, Daniel Wrenne dives into a common question many new clients face as they transition into practice or a new stage of life. Whether it's a higher income, starting a family, or moving to a new location, the overwhelming nature of change can leave you wondering, "Where do I even start?" Daniel addresses the following: - The importance of not rushing decisions and being cautious, especially with significant choices. - Recognizing common temptations and press...
Dec 19, 2023•17 min•Ep. 172
Join Daniel Wrenne in this episode as he tackles the provocative question: "Are Roth IRAs Really This Bad?" Inspired by a listener's email and an article claiming significant losses, Daniel dissects the arguments, dispels myths, and emphasizes the importance of personalized financial planning for physicians. Discover insights into scenarios from training to early retirement and learn why blanket statements about Roth IRAs may not apply to everyone. Don't miss out on this empowering discussion to...
Dec 12, 2023•27 min•Ep. 171
Join Daniel Wrenne as he sits down with Dr. Marcelo Hochman, the founder of South Carolina's esteemed Facial Surgery Center, double Board-certified facial plastic and reconstructive surgeon, and President of Independent Doctors of South Carolina (IndeDocs). In this engaging episode, they delve into the intricate landscape of medical careers, exploring the choices between private practice and employment, and the critical role of financial planning. Dr. Hochman, also Past President of the Charlest...
Dec 05, 2023•47 min•Ep. 170
