In this engaging episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Ryan Inman reunite to discuss a variety of topics spanning personal finance, the metaverse, cryptocurrency, and overcoming professional burnout. Ryan opens up about his departure from the podcast and his financial planning firm, Physician Wealth Services (PWS), due to burnout and life challenges. They then pivot to exploring the metaverse and cryptocurrency, detailing his ventures into gaming and decentraliz...
Dec 18, 2024•1 hr 7 min•Ep. 200
In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner discuss how physicians can manage their risk tolerance, especially during market downturns. They cover key topics such as the importance of financial literacy, the role of disability insurance, the risks of market corrections and inflation, and strategies for investing based on one's time horizon and personality. They also explore asset allocation, target date funds, and the need for thoughtful risk man...
Dec 11, 2024•30 min•Ep. 199
In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner is joined by Dr. Bradley Block, an otolaryngologist and host of the Physician's Guide to Doctoring podcast. They discuss the power of podcasting for physicians, sharing behind-the-scenes details about creating and managing a successful podcast. They introduce the Doctor Podcast Network (DPN), designed to help physicians launch and run their podcasts efficiently, offering varying levels of support from basic guidance to fu...
Dec 04, 2024•32 min•Ep. 198
In this episode of the Money Meets Medicine podcast, hosts Justin Harvey CFP and Dr. Jimmy Turner discuss the importance of checking your end-of-year paycheck, sharing a personal anecdote about an HSA mishap due to administrative changes. They emphasize understanding tax withholdings, ensuring proper retirement contributions, and using employer benefits like academic or CME funds. They also address the complexities of paycheck errors, production-based compensation, and tax implications for physi...
Nov 27, 2024•25 min•Ep. 82
Dr. Steven Bradley shares his diverse journey on the 'Money Meets Medicine' podcast, discussing his background as a Navy brat and his path through medical school at Howard University. He speaks about his love for music and decision to transition from being a music major to medicine after working in construction and being inspired by a pre-med friend. Dr. Bradley highlights his experiences in the Navy, his critical care aspirations, and his decision to pursue an ethics fellowship alongside his me...
Nov 20, 2024•34 min•Ep. 81
In this Money Meets Medicine podcast episode, hosts Dr. Jimmy Turner and Justin Harvey discuss essential end-of-year financial tasks for physicians. They emphasize the importance of open enrollment decisions, review of HSA options, evaluating 401(k), 403(b), and 457 plans, and the significance of rebalancing investment portfolios. The episode also covers tax withholdings, charitable giving through donor-advised funds, and the unique financial considerations for business owners and retirees. The ...
Nov 13, 2024•22 min•Ep. 195
In this episode of the Money Meets Medicine podcast, Dr. Jimmy Turner interviews Rick Ferri, a seasoned investment expert with over 35 years in the industry. They discuss the benefits of low-cost index funds, financial planning, and managing investment portfolios. Rick shares his experiences from his 'Alaska or Bust' RV trip and delves into his investment philosophy. The episode also covers asset allocation, international stocks, the structure of financial advisory models, and the importance of ...
Nov 06, 2024•44 min•Ep. 194
In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner delve into the growing popularity of locum tenens work among physicians. They discuss the advantages such as flexibility, better work-life balance, and strategies to navigate non-compete clauses. The episode highlights the financial and psychological aspects of transitioning from traditional employment to locum tenens, the importance of understanding W2 versus 1099 tax differences, and tips for negotiat...
Oct 30, 2024•20 min•Ep. 193
In this compelling episode of the Money Meets Medicine podcast, Dr. Jimmy Turner engages Dr. Jason Mizell, a colorectal surgeon based in Little Rock, Arkansas, to delve into the intricacies of career transitions and contract negotiations in the medical field. Dr. Mizell details his professional journey from academia to private practice, emphasizing his faith's influence on his decisions and the critical elements he negotiated in his new contract. The discussion explores topics like non-compete c...
Oct 25, 2024•34 min•Ep. 192
In this podcast, hosts Dr. Jimmy Turner and Justin Harvey delve into pivotal personal finance topics tailored for physicians. They explore asset allocation, diversification, and the importance of balanced portfolios including U.S. and international equities as well as bonds. The discussion encompasses different investment strategies, risk management, financial literacy, and rebalancing techniques to maintain financial security and achieve independence. Emphasizing adaptive investment approaches ...
Oct 23, 2024•25 min•Ep. 191
In this episode of 'Money Meets Medicine,' hosts Justin Harvey and Dr. Jimmy Turner dive into techniques for overcoming decision fatigue to enhance financial efficiency. They discuss the advantages of minimizing choices, embracing core financial principles, and adopting automated systems to streamline decision-making. Key topics include the benefits of low-cost index funds, the impact of behavioral finance, balancing financial choices with personal values, and the importance of a strong savings ...
Oct 18, 2024•31 min•Ep. 190
Join hosts Justin Harvey and Dr. Jimmy Turner on this episode of the Money Meets Medicine podcast as they delve into strategies for achieving financial success through minimizing decision fatigue and maximizing efficiency. They discuss the impacts of decision fatigue, the benefits of automating financial tasks, and the concept of making one decision that simplifies future financial decisions. The episode covers the importance of maintaining a high savings rate, the benefits of investing in index...
Oct 16, 2024•27 min•Ep. 189
In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner discusses the proposed FTC non-compete ban and its implications for physicians with guest Kyle Clausen. Kyle, an expert in physician contracts and compensation, shares insights on how to navigate non-competes, negotiate contracts, and protect one's financial interests when seeking new employment. Topics include the recent legal rulings on the FTC's proposed non-compete ban, how to handle various contractual elements like ...
Oct 11, 2024•39 min•Ep. 188
In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner delve into financial fraud scams and how to protect yourself and loved ones. They share a listener's heart-wrenching story of falling victim to a scam that cost their parents millions in retirement savings. The episode covers various types of scams, including romance scams and gift card fraud, and emphasizes caution when dealing with high-risk investments. The hosts also discuss the importance of due di...
Oct 09, 2024•29 min•Ep. 187
In this inaugural episode of 'Business of Medicine Fridays' on the Money Meets Medicine podcast, Dr. Jimmy Turner introduces this exciting new segment featuring guest interviews focused on money, mindset, and career longevity. In a compelling interview, Dr. Turner speaks with Dr. Bill Bernstein, a neurologist turned financial advisor, about financial mistakes doctors should avoid, the importance of understanding market history, and practical tips for successful investing. Listen in as Dr. Bernst...
Oct 04, 2024•33 min•Ep. 186
In this episode of the Money Meets Medicine Podcast, hosts Justin Harvey and Dr. Jimmy Turner examine the complexities and strategies of saving for children's college education. They argue that a 529 plan, while useful, is not the ultimate solution for funding education. The hosts share their personal experiences and offer alternative savings options, including prepaid tuition plans, scholarships, and Roth IRAs. They emphasize the importance of having philosophical and practical conversations ab...
Oct 02, 2024•37 min•Ep. 185
In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss the advantages and disadvantages of SEP IRAs and Solo 401ks for doctors earning 1099 income. They delve into the differences between W2 and 1099 income, tax considerations, and the impact on retirement planning. The discussion includes real-life anecdotes, such as navigating backdoor Roth IRAs, the complexities of plan compliance, and criteria for choosing between SEP IRAs and Solo 401ks. The ep...
Sep 25, 2024•29 min•Ep. 184
Many people have a Health Savings Account (HSA) available to them. But should you use it? And, if you do, what are the best practices for utilizing the money inside an HSA. In this show, Dr. Jimmy Turner and Justin Harvey CFP discuss investing inside of an HSA, how to take the money out, and other items you should consider before using an HSA. Want a free copy of my Dr. Turner''s best selling book The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com Every d...
Sep 18, 2024•30 min•Ep. 183
Financial stress and anxiety is a reality of being human. Are there ways we can know when the stress is coming so that we can prevent (or treat) the financial anxiety that comes along with it? Tag along as Justin Harvey CFP and Dr. Jimmy Turner discuss a recent example of financial stress Jimmy has faced, financial planning, emergency funds, entrepreneurship, and more. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine....
Sep 11, 2024•29 min•Ep. 182
People love talking about saving money to get to financial independence. Not enough people talk about the cost of saving a lot of money and the impact that has on your life. Are you saving too much? Are you living a life with no regrets? Listen in as Dr. Jimmy Turner and Justin Harvey CFP discuss the goal of dying with zero. Want me to give a free virtual talk for your residency? Email me at jimmy@moneymeetsmedicine.com Every doctor needs own-occupation disability insurance. To get it from a sou...
Sep 04, 2024•34 min•Ep. 181
A 10% correction will happen, on average, every 1.5 years. You will experience a true bear market of more than a 20% loss multiple times in your investing life. Knowing this, though, doesn't tell you what to do about it. In this episode Jimmy Turner, MD and Justin Harvey CFP discuss mindsets, strategies, and tactics for what you can do when the stock market takes a dive. Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com Every doctor n...
Aug 28, 2024•39 min•Ep. 180
Cash balance plans: Huge tax savings? Or a big pain in the backside? On this show, we discuss what cash balance plans are, what's good about them, what's bad. And, most importantly, who is the kind of person that would benefit from using a cash balance plan. Check out the Money Meets Medicine YouTube Channel: https://www.youtube.com/@MoneyMeetsMedicine Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Wa...
Aug 21, 2024•25 min•Ep. 179
A taxable brokerage account is one of the most flexible ways to invest your money. And, if you play the game right, you can also reduce taxes in this account in such a way that it may become your favorite type of investing account. In this episode, we discuss short and long term capital gains, how to minimize capital gains taxes, how to potentially pay zero dollars in capital gains taxes in early retirement, and the importance of understanding how these accounts work. Every doctor needs own-occu...
Aug 14, 2024•28 min•Ep. 178
There are a lot of things to consider before you reach financial independence and retire. One of those items is what you'll do with your life, including if you'll work after financial independence. This is a problem often left unsolved until retirement, which can cause havoc if not dealt with sooner. 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 t...
Aug 07, 2024•28 min•Ep. 177
What if you feel like you haven't saved enough? Are there options to help you catch up? In this show we discuss what to do if your savings aren't quite where they need to be to retire by the age you want, including catch-up contributions, earning money in retirement, social security, and more. Every doctor needs own-occupation disability insurance. 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...
Jul 31, 2024•31 min•Ep. 176
Doctors are often told in the financial space to "live like a resident." Yet somewhere between the YOLO-spend-it-all mentality and the idea of living like a resident as an attending physician is a better and more moderate view of personal finance. In this show, we discuss why it is difficulty for many doctors to spend money once they learn about personal finance and the two different times in the journey this can plague people. Every doctor needs own-occupation disability insurance. To get it fr...
Jul 24, 2024•32 min•Ep. 175
July is a time of transition for many doctors. Whether you are a medical student becoming an intern or a fellow becoming an attending physician, there are some financial tasks that are top of mind this time of year. Tune in as we discuss everything from student loans and asset protection to estate plans and financial education. 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 Phy...
Jul 17, 2024•36 min•Ep. 174
Should you pay off your mortgage if your interest rate is
Jul 10, 2024•22 min•Ep. 173
Have you heard of direct indexing (or separately managed accounts)? Is it a good way to invest, or is it just another hot trend? In this episode we discuss the benefits and pitfalls of using direct indexing as an investing strategy. We discuss specifically who it is for, who it is not, and when you might consider investing with a direct index strategy. Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability Wa...
Jul 03, 2024•30 min•Ep. 172
Buying a home is not without pitfalls, including navigating how realtors are paid (recent changes discussed on this show may make this easier), the pros and cons of physician home loans, and more. On this show we discuss both the math and the psychological impact of decision making when it comes to buying a home. Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Visit https://moneymeetsmedicine.com Every doctor needs own-occupation disability insurance. To get it from a ...
Jun 26, 2024•35 min•Ep. 171
