Investing is great, but investing while not increasing your tax bill is even better. In this show, we discuss how to invest in a tax efficient manner, including tax loss harvesting, where to stash certain assets, and more. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com...
Jun 19, 2024•33 min•Ep. 170
Just because whole life insurance is not the best product for most doctors does not meant that it is never a product worth considering. In this episode, Jimmy Turner and Justin Harvey discuss the good, the bad, and the ugly of permanent life insurance. This includes the impact on estate taxes, high savers, and why whole life insurance can be a reasonable product for a small niche group of people. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit...
Jun 12, 2024•32 min•Ep. 169
When it comes to personal finance, many of us often don’t know how we are doing. We “practice” personal finance in a silo. Fortunately, there is information out there on how your net worth compares, which may give you a barometer of where you are and where you need to be. Or is comparison the thief of joy? Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s G...
Jun 05, 2024•26 min•Ep. 168
Is group disability offered by your employer enough (the answer is “no”)? Or do you need to supplement with an individual own-occupation disability insurance policy? In this episode, we discuss all things DI from portability, cost-of-living adjustments, how much disability insurance you need and more/ Need a student loan plan? Own-Occupation Disability Insurance? You can get both at https://moneymeetsmedicine.com Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit ht...
May 29, 2024•38 min•Ep. 167
If you are a W-2 employed physician, it may seem like you cannot bring home more money, even if you wanted to. Is that really true, though? In this show we discuss multiple ways that an employed physician can earn more money. Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability...
May 22, 2024•34 min•Ep. 166
The cost of a financial advisor gets a lot of airtime, but what can a financial advisor save you? In other words, what is a financial advisor worth? In this show, we discuss a Vanguard study that looked into the exact amount a financial advisor is worth, and nailed it down to 6 categories we discuss on the show. If you have never considered getting a financial advisor, you just might by the end. Need own-Occupation Disability Insurance from a source you can trust? Visit https://moneymeetsmedicin...
May 15, 2024•37 min•Ep. 165
Are there tips and tricks for donating to charity? (The answer is yes). Should you donate at all? Listen in as we talk charitable giving, donor advised funds (DAFs), and other charitable giving hacks for high-earners. Need a student loan plan? Own-Occupation Disability Insurance? You can get both at https://moneymeetsmedicine.com Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com/freebook...
May 08, 2024•33 min•Ep. 164
Approximately 50% of physicians are burned out in medicine. Even more wouldn’t recommend medicine to their family members or friends. This begs the question, why then do doctors stay in a job that they don’t like? Some say that the answer is that they often cannot financially afford to leave. Is this true? How does personal finance and financial independence play a part in physician burnout? That’s what we discuss in this episode. Make comments on corporate limits → https://www.regulations.gov/d...
May 01, 2024•27 min•Ep. 163
Are you starting a new job as a physician? Maybe it is your first job ever as an attending? Listen in as we discuss all the must-do financial tasks including negotiations, benefits, changing budgets, and how to make sense of all things personal finance for new attending physicians. Make sure to check out Lisha's new podcast Wealth Minded MD! Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free c...
Apr 24, 2024•46 min•Ep. 162
One of the most common questions I get is whether a doctor should buy or rent a house. Sometimes this is after training when considering buying or renting a house at their first job. Even more often it is following medical school when soon-to-be residents and physicians are trying to decide if they should buy or rent. In this episode, we discuss the time you need to stay, the current housing market, and other considerations physicians should have to decide whether they should buy or rent a home....
Apr 17, 2024•30 min•Ep. 161
Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com
Apr 10, 2024•26 min•Ep. 161
Whether you want Financial Independence so you can retire early (FIRE) or you are nearing early retirement, the early retirement penalty imposed at age 59.5 must be considered. Here are some ways to bridge that early retirement gap until age 59.5. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.c...
Apr 03, 2024•29 min•Ep. 160
Home equity lines of credit (HELOCs) used to be all the rage. Are HELOC’s still worth your time as a high-income earner? Tag along as we discuss the pros and cons of HELOCs. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com...
Mar 27, 2024•27 min•Ep. 159
Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com References: Should couples share finances? https://academic.oup.com/jcr/article-abstract/50/4/704/7077142 New York Times: Article: https://www.nytimes.com/interactive/2023/02/13/business/money-dating-questions.html...
Mar 20, 2024•33 min•Ep. 158
With some investing, you will not need the money very soon. This requires liquidity, or the ability to quickly get your investments into cash. Join in as Justin Harvey CFP and Dr. Jimmy Turner discuss the importance of liquidity when it comes to your investments. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://mone...
Mar 13, 2024•23 min•Ep. 157
One thing is sure. All of us will die at some point. The question is what happens to your assets? To your financial legacy? That is where trusts come in. In this episode, Justin Harvey CFP and Dr. Jimmy Turner discuss all things trusts: irrevocable versus revocable trusts, living trusts, and more. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to P...
Mar 06, 2024•30 min•Ep. 156
Warrant Buffet says you don’t need international stocks in your investment portfolio. Is this really true? Does Buffet even believe this himself? Tag along as Justin Harvey CFP and Dr. Jimmy Turner discuss the pros and cons of international stocks, and whether they should make the cut in your portfolio. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guid...
Feb 28, 2024•27 min•Ep. 155
Some high-income earners feel that an emergency fund is unnecessary. Join in as we discuss the reasons this isn’t really true, AND where you should consider placing your emergency fund as a high-income earning medical professional. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com...
Feb 21, 2024•30 min•Ep. 154
Have you ever thought about investing with a conscience? Maybe based for environmental, social, or governmental (ESG) reasons? In this show, Justin Harvey CFP and Dr. Jimmy Turner discuss the merit and pitfalls of ESG investing. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com References: http...
Feb 14, 2024•24 min•Ep. 153
When an employment agreement gets placed in front of most doctors, they look at the salary. Maybe they look at the non-compete. But, that’s about where it stops. On this show, we discuss the other important items in a physician contract that every doctor should be aware of before signing on the dotted line. Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com Looking to get own-occupation disability insurance from a source you can trust?...
Feb 07, 2024•33 min•Ep. 152
The proponents of the Financial Independence Retire Early (FIRE) movement has many proponents often fail to mention a different kind of burn. The burnout that comes from saving too much and limiting your lifestyle to a bare minimum. What if I told you there is an alternative to traditional FIRE called “Coast FIRE” that allows you to retire early without eating raman? Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com Looking to get own...
Jan 31, 2024•27 min•Ep. 151
Join in as Dr. Jimmy Turner and Justin Harvey, a Certified Financial Planner, discuss whether The Four F's and if doctors would would benefit from a financial advisor. Have no idea how to figure out the good advisor from the one who wants to take advantage of you? On this show, we discuss some rules of thumb you can utilize to find the right financial advisor for you. We also discuss fee models for financial planners and the conflicts that exist within them Want a free copy of The Physician Phil...
Jan 24, 2024•35 min•Ep. 150
Have you ever considered creating non-clinical income outside of medicine? A lot of doctors have, and a recent report by Medscape shows it. Listen in as Justin Harvey, CFP and I discuss all things physician side gigs. Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com Checkout the YouTube Channel: https://www.youtube.com/@MoneyMeetsMedicine Medscape Physician Side Gig Report: https://www.medscape.com/slideshow/2023-side-gigs-rpt-6...
Jan 17, 2024•26 min•Ep. 149
Lowering the costs when investing is one of the key principles to investing success. The lower the cost/fees, the higher the returns over the long haul. Did you know that the more you know about money, the lower your fees will be when you invest? Did you also know that most people think they know more about money than they actually do, and that this is linked to higher fees when investing? Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmed...
Jan 10, 2024•30 min•Ep. 148
Sometimes, it is time to pivot. To make a change. And that’s what Dr. Jimmy Turner and Mike Kittner are doing. Follow along as they discuss their journey into and out of the venture capital space. What was venture capitalism like? What did we learn? And what are we doing next? All of that in this show and more. Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com Looking to contact Mike Kittner about own-occupation disability insurance? ...
Jan 04, 2024•28 min•Ep. 147
Did you know that being frugal isn’t the same thing as being cheap? There is a balance to all things, personal finance included. This means finding the balance between YOLO Hedonism and the hedonic treadmill and eat-raman-until-you-retire FIRE. If you are looking to create financial independence as a physician, tune in as we discuss how to find this balance with Dr. Disha Spath of The Frugal Physician. Need Disability Insurance? Visit Money Meets Medicine...
Dec 20, 2023•33 min•Ep. 146
Have you ever considered doing locum tenens work in order to create the freedom and flexibility you need? Tag along as we discuss all things locums with Dr. Renee and Nii Daarko. Need Disability Insurance? Visit Money Meets Medicine Download the 7-10 things you should consider before doing locums tenens work→ https://locumslifestyle.com
Dec 13, 2023•44 min•Ep. 145
Wealth is more than just money in the bank. At least, that is what our guest Dr. Bonnie Koo believes, and her thought process is pretty compelling. On this show, we talk about: money mindsets, including money scarcity Alternative streams of income for doctors How our upbringing can impact our view on finances And much more… Looking for Disability Insurance from a source you can trust? Visit Money Meets Medicine...
Dec 06, 2023•35 min•Ep. 144
Money and marriage can be like oil and water. They just don’t mix. Yet, in a committed relationship, you cannot really avoid talking about money. In this show, we talk about all things money and relationships. So, if you are married, plan to get married, or are in a committed relationship, in this show we discuss money dates, whether you should share bank accounts, and much more. Dr. Kate Mangona is a double board-certified pediatric radiologist, supportive physician’s wife and mother to three l...
Nov 29, 2023•32 min•Ep. 143
The #1 financial task for a doctor is getting disability insurance. Why? Because you can know everything there is to know about investing or paying down debt, but if you don't have an income... neither of them matter. Looking for Disability Insurance from a source you can trust? Visit Money Meets Medicine Our guest on this show, Mike Kittner went from being a middle school educator (married to a physician) to an insurance agent who helps doctors take care of that #1 financial task. Tune in as we...
Nov 01, 2023•38 min•Ep. 142
