Have you ever had an existential crisis? You know the “What am I doing with my life?” sort of question? And how does money play a part in your long-term view of your life? Do you want to leave a legacy? Do you want to make sure you maximize what you’ve saved? In this episode, Dr. Jordan Grumet a palliative care and hospice physician discusses his experience with dying patient’s and their views on personal finance and the importance of purpose, connection, and identity. Buy Taking Stock by Dr. Jo...
Oct 25, 2023•44 min•Ep. 141
If you’ve ever wanted to fly first class but thought it was too expensive, this interview is for you. Devon Gimbel, MD is known for helping physicians maximize rewards from credit card points so they can travel more, travel better, and travel often. This feels like an especially relevant and timely conversation – especially since the data shows that about 38% of doctors have 3-4 different credit cards. We have to wonder: should all doctors be using credit cards to optimize points and perks? I go...
Oct 18, 2023•50 min•Ep. 140
Let’s just be real: student loan guidelines are confusing and they’re constantly changing. But if you’re like many physicians who have student loans, you’re well aware that if your payments haven’t resumed yet, they’re about to. You want to make sure you’re on track and have a plan for repayment, so you can move confidently forward with your personal finance goals. Student loan advice is also one of the things we love helping people with at Attend. If you want a student loan expert to help you f...
Oct 11, 2023•37 min•Ep. 139
Have you ever left a sporting event, following the crowd, and suddenly realized you were walking the wrong way? What if I told you this phenomenon has a name, and it impacts your money, too? Understanding our own behavior when it comes to finance is essential because it helps us mitigate wrong-for-us decision making around money. Unless you know these roadblocks exist, you can’t do much to stop them from derailing your financial goals. Last week, we shared why human behavior matters for our fina...
Oct 04, 2023•26 min•Ep. 138
Despite our best intentions, certain emotions can keep us from building wealth. After many years arming physicians with the information they need to achieve financial wellness, I had a significant realization. Information is one thing – behavior is another. As the saying goes, money is 80% behavior and only 20% math. Not only do I want to share important information about personal finance, I also want to help you recognize how certain behaviors can (and do) affect your finances. Drawing from one...
Sep 27, 2023•29 min•Ep. 137
Many doctors and high-income professionals hire financial advisors for any number of reasons. Either they’re too busy to handle their finances themselves, they don’t really know how to invest, or they want an expert on their side to make sure they’re on the right track. So allow me to say from the start: I’m not against financial advisors, but I am against doctors (or anyone, really) being overcharged for bad advice. There’s no shame in asking for help – you just want to get the help you need at...
Sep 20, 2023•37 min•Ep. 136
Have you ever thought about using real estate to reach financial independence, but you didn't want to be a landlord? Recently I sat down with one of my good friends and one of the OG partners of The Physician Philosopher. He’s an anesthesiologist, husband, father, entrepreneur, as well as a real estate and physician side gig guru – of course, I’m talking about Dr. Peter Kim. One of the interesting things about Peter's story is his transition from full-time practice as an OB anesthesiologist to s...
Sep 13, 2023•43 min•Ep. 135
The arrival fallacy is a concept that’s very prevalent in medicine. Coined by Tal Ben-Shahar, it refers to the illusion of happiness that we think we’ll experience when we arrive at a completed goal or achievement (spoiler: it doesn’t work like that). In medicine in particular, this is reinforced with lots of delayed gratification and long training periods with limited free time and low pay. We think that finally achieving the next level (whether it’s residency, fellowship, or attending, receivi...
Sep 06, 2023•40 min•Ep. 134
Have you ever thought about what legacy you’ll be leaving behind and how money plays a part in that? Lisha and I recently had a conversation with Dr. Hala Sabry , emergency medicine physician and founder of Physician Moms Group , a private online physicians community made up of over 120,000 physicians. Hala is passionate about helping women physicians fulfill their professional goals and discover the legacy they want to create – which includes building and managing wealth. As you might imagine, ...
Aug 30, 2023•49 min•Ep. 133
Recently Lisha and I sat down with Dr. Omar Nije to talk about his experience as a doctor in finance. Dr. Nije’s perspective is unique because he’s both a physician AND a principal, but not in public education. He’s a principal at a venture capitalist firm, which is a world that most physicians I know haven’t been exposed to. Up until about 6 months ago, it was something I didn’t know much about myself. Join the conversation to learn more about: What venture capitalism is Dr. Omar’s journey from...
Aug 23, 2023•32 min•Ep. 132
As they say, the only constant in life is change. The same is true when it comes to the resuming of student loan payments this fall. Staying up-to-date on all the relevant information is key to effectively managing your student loans. But the student loan landscape is changing fast. So we’re here to help. Since we last spoke about student loans in July, more important updates to loan terms have been released. If you’re someone with student loans who wants to make sure you have everything in orde...
Aug 16, 2023•34 min•Ep. 131
According to studies conducted by the American Psychological Association, the number one financial stressor for households is money - personal finance. That makes talking about money with your partner a really important topic for everybody to understand. Why is talking about money with your partner important? For alignment with your partner To ensure you’re working towards the same goals Personal finance is one of the top reasons for divorce Divorce is one of the biggest wealth-killers I want yo...
Aug 09, 2023•38 min•Ep. 130
Did you know that when it comes to investing, keeping it simple often leads to better returns? Keeping it simple is not just my or Lisha’s opinion - studies show that this is a more effective, sustainable way to go about investing. Why? Because it turns out that as humans, we don't like as many choices as we think we do. We take action less often when we feel overwhelmed with choices. Just think of the last time you asked your partner where they wanted to go for dinner… In fact, in a jam (yes, j...
Aug 02, 2023•37 min•Ep. 129
For those who have no idea what to do with the upcoming student loan payments restarting, and the millions who will need to enroll in a student loan plan… are you overwhelmed yet? Understandably, a lot of physicians are anxious about how loan terms are going to roll out, what it means for their finances, and how it will affect their lives. As we know, keeping up with the recent loan changes is an ongoing process, and it can be hard to keep all the details straight. Plus, how do we know the advic...
Jul 26, 2023•42 min•Ep. 128
Whether you’re planning to take a vacation this summer or in the near future, you may be looking for some financially savvy ways to prepare. Lucky for you, one of the secrets of life that I've learned is how to incorporate intentional planning when it comes to personal finances and summer vacation. That’s what this week’s Money Meets Medicine podcast is all about. Just a few of the topics we’ll cover include: 3 ways vacation gives us psychological benefits How to be intentional about taking vaca...
Jul 19, 2023•44 min•Ep. 127
We interview Will Flanary, who is perhaps better known by his comedic stage name: Dr. Glaucomflecken. Just a few of the awesome topics we cover in our conversation: Charitable giving Will’s battle with testicular cancer and the time he had a cardiac arrest His thoughts on physician side gigs and residents unionizing … he even shares his biggest personal finance mistake Click here to download the Attend App for Doctors . Looking for a comprehensive financial platform for doctors, by doctors that ...
Jul 12, 2023•46 min•Ep. 126
July is the time of year when those in the medical field experience the most transition – whether to your next level of training, moving to a new institution for fellowship or residency, or taking your first job as an attending. It can be overwhelming. Make sure you’re equipped with the right questions to ask to make your job transition less intimidating and stressful. Here are a few financial considerations to make when you’re starting a job. Looking for a comprehensive financial platform for d...
Jul 05, 2023•49 min•Ep. 9
50% of doctors change jobs in the first 2-4 years of their career, but knowing how to properly handle a job transition is relevant to every physician at every stage of their career. Financial advice for doctors doesn’t often cover this topic, so we’re more than happy to dive into it with you here. Maybe you’re coming out of your first job in training, maybe you’re an attending changing jobs, or you’re moving out of academics to another field. You honestly don’t know when certain opportunities wi...
Jun 28, 2023•40 min•Ep. 8
You may have already heard about President Biden’s student loan forgiveness plans, but what does that mean for you? We’re covering those qualifiers today, plus identifying three 2023 dates in particular that really matter for those managing student loan debt. Join us as we walk through those three important dates, what they mean, as well as the potential impact. Plus: find out how to make sure you don’t get stuck with a surprise 4-figure loan payment. It’s everything you need to know about stude...
Jun 21, 2023•38 min•Ep. 7
Did you know that it's possible to make great financial progress while you spend money on things you enjoy? Yep, you read that right. It might be surprising to hear this in the financial space, but you worked hard to get to where you are. You deserve to enjoy some of the spoils and riches of all of that work that you put in to go through college, medical school, and residency. In the physician finance blogosphere, there are financial gurus that are out there who paint a dichotomous picture of on...
Jun 14, 2023•31 min•Ep. 6
Did you know that as interest rates rise, the value of bonds falls? Should you even care about that? Are bonds a good investment for doctors? In this episode, we’re tackling these questions and discussing the purpose of bonds in a doctor's portfolio, as well as the nuance of our current high interest environment. Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future? Make sure to check out HelloAttend.com...
Jun 07, 2023•37 min•Ep. 5
Maybe you're starting your intern year and you're considering investing as one of your steps in that journey. As July approaches, maybe you’re transitioning as a trainee from an institution or to a new job, you might be asking yourself, “Should I be investing in pre-tax vs Roth?” It’s a really interesting topic and an important question, especially as interest rates and inflation changes. When someone slides that 401k or that 403b form in front of you, it often gives you the option to choose whe...
May 31, 2023•35 min•Ep. 4
If you’ve ever needed to save up for a wedding, a car, or a home, yet you weren't quite sure about the best way to do it, this episode is for you. There are lots of reasons why you might be thinking about setting up short-term savings (savings you intend to need within 3-5 years). But figuring out how to save money can be easier said than done. With so many options for investments and money management, how do you know the best place to start? And how can you be sure you’ll reach your savings goa...
May 24, 2023•38 min•Ep. 3
It often pays to work smarter, not harder, yet many doctors put in more and more hours to make more money in medicine. But is working more always a good idea? I think there are pros and cons to working more shifts in medicine. Personal finance is personal, and you have to assess whether you feel you’re being compensated fairly for the time and energy you put into your work. If you’re not, you might be working for diminishing returns. Yes, you have expenses to cover, but remember the importance o...
May 17, 2023•39 min•Ep. 2
With inflation and interest rates being what they are, one of the most common questions that we get nowadays is, “Should I invest or pay off debt? What should I be doing with my money?” Everywhere in medicine, inflation has an impact. One of the common areas where this naturally happens a lot is in regards to reimbursement rates and income. Doctors realize, “Hey, I haven't gotten a substantial raise in five or ten years, maybe more. And yet, inflation in 2022 is 6-9%.” So when we face these unpr...
May 10, 2023•40 min•Ep. 1
Even though we’re self-proclaimed money nerds, it doesn't mean we don't make mistakes. Physician finance isn’t your run-of-the-mill financial strategy. We have certain exceptions and special circumstances to watch out for. And sometimes even the most seasoned pro can make money mistakes. We’re still human, after all. So let’s normalize the idea that we’ll run into snags and learn new lessons as we work to figure out our personal finance goals. Tune in as Alicia and I share all the gory details o...
May 03, 2023•32 min0
