Finally being ready to retire is a huge milestone. It takes years of planning and hard work. There is nothing worse than feeling like you missed something in all that preparation. Listen in as Ben Utley and Nate Reineke break down whether it is worth it to open a new backdoor Roth account right before retirement. We discuss the factors to consider and how your time will come into play when making that decision. We also answer your colleagues' questions. Social Security: A Pain Management doc in ...
Jul 23, 2025•23 min
Whether you are excited about the budget bill that just passed, or it causes you to be SALTy, we can all agree it’s big, with 870 pages, and it’s confusing. Listen in as Nate Reineke and Chelsea Jones dive into some of the changes this new bill brings and what those changes mean for physicians like you. From SALT deductions to PSLF to the Trump Savings Accounts, we’ll break down what it all means for you and your family. And, be sure to listen to the end to hear what isn’t changing, too. Are you...
Jul 16, 2025•30 min
Even as a physician mom or dad, the thought of taking your kid to the ED can be scary. Lots of docs, especially self-employed docs, also dread the idea of taking on the IRS alone. If that's you, listen in as Nate Reineke and Ben Utley discuss tax strategies with Ken Eremita, CPA. From his office in Los Angeles, Ken offers tax planning, preparation, and hands-on bookkeeping services for self-employed physicians from coast to coast. We explore how marginal tax brackets work, how to keep FICA/payro...
Jul 09, 2025•29 min
Happy 4th of July! Summer vacation is in full swing, but that doesn’t mean financial planning is taking time off. Even though Ben and Nate are taking a much-deserved break, podcasts can’t miss a week. This week is a special episode of Physician Family Finances. It features the guest appearance Ben Utley made on Kevin M.D. In this episode, Ben and Kevin talk about how physicians can find true happiness beyond wealth. They explore how doctors can escape the pressure of paying off debt while mainta...
Jul 02, 2025•18 min•Season 1Ep. 122
Some tax strategies are fishier than others. This week, you’ll hear about how things are going with Nate and his son’s development as a fisherman, and we’ll also tackle a somewhat fishy 401(k) question: can you, or SHOULD you, hire your spouse for your 401(k)? Like a fresh-caught fish, it’s a slippery question with a tricky answer. You can also catch answers to your colleagues' questions from Ben Utley and Nate Reineke. Practice Buy-in: An Orthopedic surgeon in Oregon is anticipating a cash call...
Jun 25, 2025•29 min•Season 1Ep. 121
To a child, a father is often their first hero and is always one of their first teachers. Parenting doesn’t come with an instruction manual or a training period, so it can be easy to feel like you’re flying, or rather parenting, blind. In this special Father’s Day episode, Nate Reineke and Kyle Hoelzle chat about how they are raising their kids to understand the value of money, why delayed gratification can be a good thing, how hard work pays off, and the importance of saving. They also play a r...
Jun 18, 2025•38 min•Season 1Ep. 120
Paperwork is boring, and we all try to avoid it. While estate planning is a lot of paperwork, it is a crucial part of making sure your children and family are taken care of after you’re gone. Listen in as Nate Reineke and Ben Utley chat with special guest Christine Roberts, an estate planning attorney with a background in ERISA law and over 30 years of experience. She breaks down some common misconceptions and mistakes physicians make when setting up trusts and wills, and delves into how a good ...
Jun 11, 2025•52 min•Season 1Ep. 119
We all love it when something costs less than we think it will, especially something pricey like college. If you plan to send your kids to a private university and they go to a state school, what can you do with the extra money? Listen in as Nate Reineke and Ben Utley celebrate graduation season and break down the most effective ways to save for college and what you can do with leftover 529 funds. We also answer your colleagues’ questions. 529 vs HYSA A cardiologist in Oregon is curious which is...
Jun 04, 2025•28 min•Season 1Ep. 118
Bug infestations are stressful. Having an established relationship with a “bug guy” helps exterminate that stress. All emergencies are more stressful when you try to handle them alone, but having a financial planner who enables you to understand where funds can come from helps decrease your stress. Listen in as Ben Utley and Nate Reineke discuss what funds you should use to save for retirement and how those funds help cover you in an emergency. We also answer your colleagues’ questions. Changing...
May 28, 2025•30 min•Season 1Ep. 117
If fishing were easy, they’d call it catching. If backdoor Roths were easy, they’d call it a loophole. Listen in as Nate Reineke and Ben Utley answer a cumbersome backdoor Roth question from a physician who fears they made a mistake, but the answer may be simpler than anticipated. We also answer your colleagues' questions. Investing Now: A retired physician in Alaska has a large nest egg, and they are concerned about the current economic and political situation. They want to know the best way to...
May 21, 2025•29 min•Season 1Ep. 116
Buying a home is hard. As a physician, you want to make sure you get the best rate, use the right type of loan, and avoid the mistakes that drag out the process. Listen in as Ben Utley and Nate Reineke dissect the complex and confusing world of home buying with special guest and mortgage loan specialist Robert Hedges. Together, they answer your colleagues' concerns about how to find the best mortgage broker, when it is smart to buy points, and what up-front fees physicians should look out for. I...
May 14, 2025•57 min•Season 1Ep. 115
Let's be real here: You spent your first 20 years of life rolling your eyes at your mom's advice and the rest of your life realizing she was right. So right now, make sure you have a table reserved (or groceries bought) and flowers ready for Mother’s Day. Listen in as Ben Utley and Nate Reineke answer a tough listener question about whether the Roth 403b or a traditional 403b is right for a neurosurgeon from Maryland. We also answer your colleagues' questions. Car Buying A surgeon in Connecticut...
May 07, 2025•28 min•Season 1Ep. 114
Your kids are growing up fast. That means more activities to keep track of on top of all your other commitments. How can you juggle being there for your family and working enough to save for retirement? Listen in as Nate Reineke and Ben Utley provide some tips on how to keep all the balls in the air while still planning for the future. We also answer your colleagues' questions. Retirement Investing: An ENT from Kansas City who is moving and changing jobs wants to know what we think of some advic...
Apr 30, 2025•24 min•Season 1Ep. 113
Influenza. It’s a word that sounds ominous when you don’t know what it means. To a physician like you, influenza is nothing more than the average flu, but to a patient, it may sound scary. Does tax-loss harvesting sound extreme or even dangerous to you? Listen in as Nate Reineke and Ben Utley explain what tax-loss harvesting is and how your colleagues are using it right now to save taxes. We answer some other questions you may have asked yourself. Market volatility: An ER/ crit care doc in Massa...
Apr 23, 2025•14 min•Season 1Ep. 112
Bananas are cheap but not as cheap as they used to be and the price of almost everything else is going up faster than a monkey up a tree. Everything else but stock prices that is. We’ve gotten several questions from physicians like you essentially asking “What should we do?” Ben Utley breaks down questions about tariffs, taxes, the economy, markets, and what you should or shouldn’t do about it. Are you ready to turn worries about taxes and investing into all the money you need for college and re...
Apr 16, 2025•14 min•Season 1Ep. 111
Spring has sprung just like the freshly assembled Adirondack chairs in Ben’s back yard. Fumbling around while constructing Costco lawn furniture is normal, Ben proves that, but, you don’t want to stumble around with your backdoor roth. You also don’t want to be caught off guard by big surprise expenses in retirement. Nate Reineke and Ben Utley breakdown some of the major life events and expenses physicians like you should consider before retirement including home improvements, grandkids, grad sc...
Apr 09, 2025•23 min•Season 1Ep. 110
Things in the government are changing but, you already knew that, right? What you may not know is that public student loan forgiveness is still alive and well! Nate Reineke and Ben Utley discuss one pediatrician’s five year journey to student loan debt freedom. They also discuss the other listener questions below. A radiologist in Ohio asks if I save my money into a 529, will it grow like my other investments? A family physician in New York wants to know, is there a downside to increasing my usu...
Apr 02, 2025•19 min•Season 1Ep. 109
Introduction: In this new episode, hosts Nate Reineke and Chelsea Jones tackle the crucial topic of investment strategies for physicians with deadlines, particularly when facing urgent financial goals such as buying a home or addressing student loans. They share insights on how to optimize investments while managing risk. Summary: Join Nate and Chelsea as they explore the considerations physicians should keep in mind when investing with a deadline. This episode addresses listener questions about...
Mar 26, 2025•33 min•Season 1Ep. 108
Introduction: In Episode, hosts Nate Reineke and Ben Utley delve into the complexities of the backdoor Roth IRA, a popular strategy for high-income earners. They address common misunderstandings and provide clarity on how to navigate potential pitfalls, such as the pro-rata rule. Summary: Join Nate and Ben as they explore the backdoor Roth IRA process. This episode tackles listener questions about bond discounting, the emergency fund allocation into bonds, and strategies for buying a house while...
Mar 19, 2025•22 min•Ep. 107
Introduction: In this episode, hosts Nate Reineke and Ben Utley dive into the often-asked question: How much do physicians actually spend and save? They explore spending patterns among doctors, discuss financial strategies for managing student loans, and examine the importance of striking a balance between work and family life. Summary: Nate and Ben discuss the financial challenges faced by physicians, particularly when it comes to managing expenses and savings. They address a range of listener ...
Mar 12, 2025•25 min•Season 1Ep. 106
Introduction: Welcome to Physician Family Financial Advisors Podcast. In this episode, hosts Nate Reineke and Ben Utley address the joys and financial complexities of becoming a physician mom in your 40's, and what that means for your financial planning moving forward. Summary: Join Nate and Ben as they explore the financial considerations and strategies for physician families, particularly those experiencing major life changes like having another child later in life. They discuss how to balance...
Mar 05, 2025•36 min•Season 1Ep. 105
Episode Summary: In this episode Nate Reineke and Ben Utley discuss the nuances of mortgage options for physicians, specifically focusing on the decision to pay points. The hosts explore the implications of mortgage rates, the impact of short-term versus long-term holding periods, and how physicians can navigate the complexities of home financing. Key Takeaways: - Understanding Mortgage Points: Purchasing points can lower mortgage interest rates, but the decision depends on how long the mortgage...
Feb 26, 2025•32 min•Season 1Ep. 104
Episode Summary: In this episode, Nate Reineke and Ben Utley discuss the potential financial implications for physicians in light of recent political changes, particularly focusing on the questions surrounding government policies and public service loan forgiveness (PSLF). They also address listener inquiries about financial planning for 2025, including insights on donor advised funds (DAFs), retirement strategies, and health insurance considerations. Key Takeaways: - Impacts on Federal Benefits...
Feb 19, 2025•28 min•Season 1Ep. 103
Episode Summary: In this episode, Nate Reineke and Ben Utley discuss important considerations for physicians when funding their 529 plans. The hosts share insights from personal experiences, highlight the significance of effective savings strategies, and address listener questions related to college savings and financial planning. Key Takeaways: - Funding a 529 Plan: Physicians should consider their financial goals and the educational needs of their children when deciding how to fund their 529 a...
Feb 12, 2025•27 min•Ep. 102
Episode Summary: In this episode, Nate Reineke and Ben Utley explore strategies for turning quarterly physician bonuses into effective monthly savings. They share insights into managing unexpected income and address listener questions about donor advised funds (DAFs), retirement planning, and the impact of health insurance on financial goals for physicians. Key Takeaways: - Utilizing Quarterly Bonuses: Physicians can allocate quarterly bonuses to create a more stable monthly savings flow, helpin...
Feb 05, 2025•18 min•Ep. 101
Episode Summary: In this episode, Nate Reineke and Ben Utley explore the best college savings goals for doctors. They discuss strategies for saving effectively for education expenses and address listener questions about donor advised funds (DAFs), 529 accounts, retirement planning, and the overall financial implications for medical professionals and their families. Key Takeaways: 1.Tax Benefits of DAFs: Donor advised funds may provide significant tax advantages when donating to charities. 2.Buil...
Jan 29, 2025•35 min•Ep. 100
Summary: In this episode, Nate Reineke and Ben Utley explore how donor advised funds (DAFs) can provide significant tax benefits for physicians. They return from their holiday break to answer important listener questions about DAFs, 529 accounts, retirement savings strategies, and the implications of health insurance on financial planning for doctors in 2025. Key Takeaways: 1. Tax Savings with DAFs: Donor advised funds provide an opportunity to reduce taxes twice—first when making donations and ...
Jan 22, 2025•46 min•Ep. 99
Episode Summary: In this episode, Nate Reineke and Ben Utley explore what the biggest physician financial question will be for 2025. They kick off the new year by addressing listener questions about financial planning strategies, touching on important topics such as 529 accounts, target date funds versus robo-advisors, Medicare enrollment, and mortgage payoff decisions. Key Takeaways: 1. 529 accounts can effectively build educational wealth for future generations, especially for families with ch...
Jan 15, 2025•25 min•Ep. 98
Episode Summary: Join Nate Reineke and Ben Utley as they welcome Jordan Grumet, also known as Doc G, author of The Purpose Code and host of the Earn and Invest podcast. They discuss the vital connection between purpose and financial well-being, providing insights on navigating burnout and rediscovering joy in the medical profession. Guest Info: Jordan Grumet, born in Evanston, Illinois in 1973, found the spark to become a doctor after a deeply personal event reshaped his life’s trajectory. The u...
Jan 08, 2025•37 min•Ep. 97
Episode Overview: In this episode, Ben Utley and Nate Reineke address the important topic of interest rates and how they might affect your financial decisions as a healthcare professional. They explore the potential impact on your investment portfolio and offer considerations for mortgage refinancing, aiming to provide insights that could be valuable for your financial management. Key Highlights: 1. Understanding Interest Rates: - Ben and Nate discuss how interest rates can influence your invest...
Dec 18, 2024•31 min•Ep. 96
