PA the FI Way - podcast cover

PA the FI Way

Kat, PA-Cwww.pathefiway.com
Becoming a physician assistant (PA) is difficult. But becoming a PA on the way to financial independence (FI) shouldn’t be. Allow the PA the FI Way podcast to be your guide to becoming a physician assistant on the way to financial independence. Unfortunately, even basic personal finance and budget concepts are rarely taught in high school, college or PA school. Then once PA students become certified physician assistants and begin their professional journey practicing medicine, they typically have a heap of student loans just waiting to be paid back. Let’s not only discuss how to prevent large student loan amounts, but also how to pay them back quickly. Let’s discuss how practicing PAs can learn to save and invest for their futures. PA the FI Way’s mission is to provide both future and current PAs alike strategies to not only become financially literate, but to also reach financial independence along the way. Think of it as personal finance for PAs with a financial independence twist. Financial independence provides the freedom to find balance in work and personal life. FI is about creating the life you want to live, choosing when to retire (IF you want to retire early), choosing when to cut back on working, or choosing when to work on another passion in your life. The decision truly is yours, and I hope you decide to join me on the journey to becoming a PA the FI Way.
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Episodes

041 | Interview with The Student Loan Podcast and Start Noo

Daphné Vanessa, Esq. and Shamil Rodriguez, co-hosts of The Student Loan Podcast and Founders of Start Noo share why they started these projects. They are an incredibly fun couple who are very passionate about how problematic the student loan system is, and they created Start Noo as a potential solution for you to help pay back your student loan debt from undergrad and PA school. The Student Loan Podcast StartNoo.com Instagram @ StartNooHQ Instagram @ StartNoo Twitter @ StartNoo TikTok @ StartNoo...

Nov 12, 20211 hr 6 min

040 | Sabbaticals During Your Career as a PA: Enjoy the Journey to Financial Independence and Return to Work Rejuvenated! Ft. Shayne Foley, PA-C

Have you considered taking a sabbatical at some point during your career as a PA (physician assistant / physician associate)? Or maybe you thought sabbaticals were only for professors and that you couldn't take one as a PA? This episode with Shayne Foley, PA-C, reviews how you can take a sabbatical (or a few!) during your career as a PA, as well as what some of the benefits of sabbaticals are. Shayne also shares all the details of the logistics of planning and executing sabbaticals! A sabbatical...

Nov 05, 202158 min

039 | The Advantages and Disadvantages of Having a 4 Day Workweek as a PA

Working 4 days per week instead of 5 days as a PA has many advantages, but there are a few disadvantages as well. However, the benefits seem to fit with many financial independence ideals, so it is something worth considering and exploring as an option for your career! Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group created for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway...

Oct 29, 202120 min

038 | Pre-PA Clinic: Interview with Founders Katie Bean, DMS, PA-C and Beth Macintire, DMS, PA-C

Are you a Pre-PA student looking for guidance as how you can stand out as an applicant while applying to PA school? Or are you a PA student that is looking for extra support while in PA school? Take a listen to meet Katie and Beth, who are two incredibly fun and motivating mentors for Pre-PAs and PA students. They offer several types of services to help you out throughout your journey as you become a PA. We also discuss our passions for travel, mission trips, and of course, financial independenc...

Oct 22, 202141 min

037 | The PA Blueprint: Interview with Authors Shayne Foley, PA-C and Jordan Fisher, PA-C

Have you felt as though you need some career guidance as a PA, or need help fighting burnout? Shayne and Jordan join us in this really fun interview to discuss The PA Blueprint: Your guide to career advancement, getting rich, avoiding burnout, and finding your dream job. Visit the website to get your copy of The PA Blueprint, and use special code pathefiway25 for 25% off your purchase! https://www.thepablueprint.com Instagram: https://www.instagram.com/thepablueprint/ Other Resources Mentioned: ...

Oct 15, 202144 min

036 | FIlightER's Triple 7: Financial Wins, Financial Mistakes, and Pieces of Advice for Millennials from an Early Retiree, Part 2

Paul "Lambo" the FIlightER, Creator of the FIlightER Podcast and Blog, joins us as the first guest who is an early retiree that has achieved FIRE! He used to work as a CPA, so he provides excellent insight from that background throughout the episode. He shares his Triple 7: 7 financial wins, 7 financial mistakes, and 7 pieces of advice for millennials. However, since he is so full of wisdom and stories, this episode is Part 2 of 2, and it covers the 7 financial mistakes and 7 pieces of advice fo...

Oct 08, 20211 hr 6 min

035 | FIlightER's Triple 7: Financial Wins, Financial Mistakes, and Pieces of Advice for Millennials from an Early Retiree, Part 1

Paul "Lambo" the FIlightER, Creator of the FIlightER Podcast and Blog, joins us as the first guest who is an early retiree that has achieved FIRE! He used to work as a CPA, so he provides excellent insight from that background throughout the episode. He shares his Triple 7: 7 financial wins, 7 financial mistakes, and 7 pieces of advice for millennials. However, since he is so full of wisdom and stories, this episode is Part 1 of 2, and it covers the 7 financial wins that he would like to share. ...

Oct 01, 202155 min

034 | Interview with Savanna Perry, PA-C, Founder of The PA Platform and Host of The Pre-PA Club Podcast

Have you considered starting a business or authoring a book as a side hustle on your way to financial independence? Or are you a pre-PA student looking for tips to get into PA school and succeeding once you do? Our guest, Savanna Perry, PA-C, is not only an awesome dermatology physician assistant, but she is also a business owner of The PA Platform, podcast host of The Pre-PA Club, and author of Physician Assistant School Personal Statement Guide and Physician Assistant School Interview Guide. C...

Sep 24, 202136 min

033 | How Pursuing Financial Independence Can Help Fight Physician Assistant Burnout

Burnout is a syndrome that many healthcare workers have experienced, especially during the COVID pandemic. PAs are no exception, and around 50% of PAs will experience burnout at some point during their working careers. This episode reviews what burnout is, the costs and risks of burnout, the contributing factors, burnout symptoms, and what you can do to try to fight burnout as a PA. Additionally, we will review how being a physician assistant on the way to financial independence can help you fig...

Sep 17, 202127 min

032 | Mega Backdoor Roth

The Mega Backdoor Roth is a strategy that may allow you to save more money into your Roth account for the year after maxing out your 401K, allowing for tax-free growth and tax-free future withdrawals. However, it is somewhat rare that employers and 401K administrators allow this strategy. Learn the questions to ask to find out if you're eligible, and the process of utilizing the Mega Backdoor Roth strategy as a physician assistant. Follow along on Instagram: @pathefiway https://www.instagram.com...

Sep 10, 202117 min

031 | PA Student Loan Debt and Mortgage Paid Off! Ft. Kristin Burton, PA-C, Founder of Strive Coaching

Join us as Kristin Burton, MPAS, PA-C, CAQ-HM, shares her amazing debt payoff story. After PA school, she paid off over $161,000 over the course of 16 months! After her student loan debt was paid off, she and her husband decided to pay off their mortgage before she even turned 30yo. Amazing! Kristin is a critical care PA (physician assistant) on the way to FI (financial independence), and she founded Strive Coaching to try to help other PAs and healthcare professionals reach financial independen...

Sep 03, 202123 min

030 | PA Student on the Way to Financial Independence! Ft. Alex Adkins, PA-S

Are you a physician assistant student and feel as though you can just wait until after PA school to focus on your finances? Well, you certainly could, but there are so many financial areas that you can focus on right now while you're in PA school. Alex Adkins, PA-S, shares how he knew about the concept of FI even before PA school started, which has helped him make some wise financial decisions. Once he starts practicing as a PA-C, he will be set up for success due to the habits that he has alrea...

Aug 27, 202122 min

029 | Inflation: Is It Really Something to Worry About?

Inflation has been a common topic in the news the past several months. But do you know what inflation is, why it happens, and why it can be a problem? Finally, do you know what steps you can take to hedge against inflation? Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group created for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway Like the Facebook page to follow along for up...

Aug 20, 202112 min

028 | What's the Deal with Cryptocurrency?

You've heard from those who invest in cryptocurrency say that their investments are going to the moon, and you have serious FOMO. Should you join the crypto craze? As with many things in finance, the answer is maybe, as it's a bit complicated... There are some benefits to consider with crypto, as well as some cons to consider. If you're a PA student, consider applying to the White Coat Investor scholarship: https://www.whitecoatinvestor.com/medical-school-scholarship/ Follow along on Instagram: ...

Aug 13, 202118 min

027 | Budgeting Methods and Sinking Funds

Four different types of budgeting methods are reviewed (pay yourself first method, envelope method, 50/30/20 budget, and zero-based budget). These types of budgeting systems can provide you a framework to save money to invest for your future as a physician assistant, PA student, or pre-PA. You may find that one works better for you than others at various points in your life. Sinking funds can be used as part of your budgeting system to help you pay for upcoming known expenses. Follow along on In...

Aug 06, 202119 min

026 | Market Timing and Opportunity Cost

Should you try to time the market in hopes of buying high and selling low? Or should you try to switch your money around between asset classes in hopes that one will do better because you heard it's the latest craze? If you can't time travel to have the benefit of hindsight or don't have a crystal ball, then the answer is likely no. As a current or future physician assistant, you're likely pretty bright, but did you know that most financial professionals can't time the market well enough to beat...

Jul 29, 202113 min

025 | Dividends and Diversification

The topics of dividends and diversification are discussed in today's episode. Some investments pay out dividends, which can be another way for your investments to earn more over time. However, this doesn't necessarily mean that you should be chasing stocks with only high dividend yields. Diversification in your portfolio may help provide less risk over time, and can help make your wealth building over time to be less bumpy. Follow along on Instagram: @pathefiway https://www.instagram.com/pathefi...

Jul 22, 202114 min

024 | How to Use 4 Types of Accounts to Invest for Your Child’s Future (HYSA, 529 Plan, UGMA / UTMA, and Custodial Roth IRA)

Compound interest, which has been dubbed the 8th wonder of the world by Albert Einstein, needs time to grow its magical gains. Which group of people likely has the most time in the world to benefit from the effects of compound interest? Children, of course! Once you start becoming financially literate, you may likely start thinking about the kiddos in your life, whether they be your own children, nieces or nephews, or even grandchildren, and think, “If only they could start investing for their f...

Jul 15, 202134 min

023 | How to Automate Your Finances to Set You up for Success

When it comes to saving, investing, paying off debt, and building wealth on your way to financial independence as a physician assistant, automation may be key to setting you up for success so you can reach your goals sooner. Automation may help you save your time, your money, and your sanity! Personal Capital link: https://pcap.rocks/katarinaastr Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group created for current and future PAs on thei...

Jul 08, 202124 min

022 | How to Utilize Travel Rewards for Free Travel

Is traveling to new places domestically and internationally one of your favorite hobbies? Do you have family that lives far away from you? Do you enjoy CME conferences, but don't have a generous enough CME budget to fully cover your flight and / or hotel cost? Then travel hacking by earning travel rewards points likely is for you! This episode introduces the concept of travel rewards, as well as reviews some of my favorite travel rewards credit cards. If you're interested in getting started or s...

Jul 01, 202132 min

021 | Interview with Justin Chidester, CFP, AFC, Founder of Wealth Mode Financial Planning

Justin Chidester, CFP, AFC, founder of Wealth Mode Financial Planning reviews with us the benefits of working with a fee-only fiduciary financial planner. He also covers some red flags to watch out for when considering whether you should work with a financial advisor. I share my story of how my husband and I worked with another type of "financial advisor" for several years, until we figured out that we should FIRE him once we decided to pursue FI (pun intended). Justin can help current and futur...

Jun 24, 202149 min

020 | Social Security for PAs Pursuing Financial Independence

In this episode, we will review what Social Security is, and will consider if it will even be around by the time that we reach traditional retirement age. Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group created for current and future physician assistants on their journey to financial independence: https://www.facebook.com/groups/pathefiway Like the Facebook page to follow along for updates: https://www.facebook.com/pathefiway Website t...

Jun 17, 202115 min

019 | Invest in Your Health on Your Journey to Financial Independence as a PA

As you invest to build wealth on your journey to financial independence (FI) as a PA, it's important to also invest in your health. "Health" is not only comprised of your physical health, but rather, several types of health need to be optimized to truly help your overall health. Don't neglect your health on your journey to FI, or you may end up being too depressed or too physically unhealthy to even enjoy early retirement if you decide to retire early once you reach FI! Mad Fientist blog posts t...

Jun 10, 202127 min

018 | Your Credit Score: What Is It, Why Is It Important, and How to Boost It?

Having a great credit score can help you in several ways financially. In this episode, we will review what your credit score actually is, why it is important, and how you can boost your credit score if you need to. Read blog posts and sign up for email list: pathefiway.com Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiwa...

Jun 03, 202112 min

017 | Homeownership Versus Renting for PAs

Ah, the great debate: should you rent a place or purchase a home? As with many topics in personal finance, it depends. In this episode, some myths surrounding renting and buying are dispelled, and some pros and cons to both homeownership and renting are reviewed. Referenced article by J.L. Collins: https://jlcollinsnh.com/2013/05/29/why-your-house-is-a-terrible-investment/

May 27, 202131 min

016 | PA Next Steps: Interview with Author, Jordan Fisher, PA-C

Jordan Fisher, PA-C, joins me on the podcast as our very first guest! He's the author of PA Next Steps, which is a step-by-step guide for the new physician assistant for what to do after PA school. This book will provide you with all of the information and tools you need to start practicing, find a job you love, and excel in your personal, professional, and financial life. Purchase your copy of the eBook, PA Next Steps here: www.panextsteps.com Use code pathefiway at checkout for 50% off your co...

May 20, 202128 min

015 | The Associated Financial Costs of Practicing as a Physician Assistant

Did you know that practicing as a PA actually costs you money? Let's review profession specific costs as well as general costs to working as a physician assistant. These costs can vary, and many can be negotiated to have your employer help out with some of the costs! Website to read blog posts: pathefiway.com Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group only for current and future PAs on their journey to financial independence: http...

May 13, 202119 min

014 | Ensure That You're Insured (A Brief Overview of Disability Insurance, Life Insurance, and Umbrella Insurance)

As a physician assistant, you are likely very familiar with common types of insurances such as medical insurance, home and auto insurance, and malpractice insurance. But did you know that you should be assessing your situation to determine whether or not you should also be getting disability insurance, life insurance, and even umbrella insurance? For some, these types of insurances that are discussed in this episode can be just as critical to have as the other types of common insurances. Website...

May 06, 202124 min

013 | Part 2 - Investing Strategies for the Physician Assistant (401k Retirement Accounts, Roth IRAs, Roth Conversion Ladders, Backdoor Roth IRAs, and Beyond!)

This is Part 2 in reviewing the basics of investing and retirement accounts for PAs, as well as the order of operations for starting to invest to build your wealth. This episode continues to review retirement accounts such as 401(k)s, 403(b)s, 457(b)s, etc., as well as Roth IRAs. Additionally, the tools called Roth Conversion Ladder and Backdoor Roth IRAs are reviewed, which can help you in your journey to financial independence as a physician assistant! Website with blog posts: pathefiway.com F...

Apr 29, 202131 min

012 | Part 1 - Investing Strategies for the Physician Assistant (Investing vs. Only Saving, Index Funds 101, and the Power of HSAs!)

This is Part 1 in reviewing the basics of investing and retirement accounts for PAs, and the beginning of reviewing the order of operations for starting to invest to build your wealth. Investing can seem overwhelming and scary to start with, but it's so important that you understand that you need to get your money invested, not just sitting around in a savings account, so that it can earn more money for you. The basics of investing in low-cost broad-based index funds are reviewed. If you're a ph...

Apr 22, 202151 min
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