Big changes are happening at the IRS—thousands of employees are being laid off, and that could mean longer wait times, delayed refunds, and even fewer audits… for now. But does this mean you’re in the clear to take more risks on your taxes? On today’s episode, we’re diving into what these IRS cuts really mean for you, how to stay out of trouble, and why playing it smart now could save you from a nightmare audit years down the road. Let’s talk all things IRS and how to keep your taxes stress-free...
Mar 11, 2025•26 min•Transcript available on Metacast Today, we’re talking about what every kid and teen should know about personal finance—starting with the basics: What is money? Why should you save? And how can just $100 grow into thousands over time? Today, kids are flooded with flashy social media influencers pushing get-rich-quick schemes—so how do we convince them that slow, steady investing is actually the best path to wealth? We’ll break it all down, plus share real strategies for saving, investing, and setting up accounts like Roth IRAs a...
Mar 04, 2025•36 min•Transcript available on Metacast Many underestimate how much their assets can grow—or how much they'll need for retirement. A $5M goal today could mean $12M+ in 30 years due to inflation, making financial targets seem daunting. By understanding compounding, inflation, and strategic adjustments , you can make smarter decisions today that have a massive impact tomorrow. We'll break down key numbers, risks like sequence of returns , and why financial planning is an evolving process....
Feb 25, 2025•16 min•Transcript available on Metacast Whether you're selling stocks, real estate, or a business, capital gains taxes can take a huge bite out of your profits. But here's the good news— you have control over when and how you sell assets, and with the right strategies, you can significantly reduce your tax bill. From understanding short-term vs. long-term capital gains rates, to tax-loss harvesting, tax-gain harvesting, donor-advised funds, and Qualified Opportunity Zones—this episode is packed with the insights you need to keep more ...
Feb 18, 2025•23 min•Transcript available on Metacast Think you’re getting your full 401(k) employer match? You may need to think again. Even if you max out your contributions every year, the way you elect to defer your paycheck could be quietly costing you thousands in free money. In this episode, we break down the hidden flaw in many employer match structures, why high earners—like ER doctors—are especially at risk, and how a simple adjustment could mean an extra $800,000+ in retirement savings over your career....
Feb 11, 2025•19 min•Transcript available on Metacast On today's episode, we'll be diving into the unpredictable world of markets, investing, and economics. With the start of a new year and a new president, the market is full of mixed forecasts—half the experts are optimistic, while the other half are... not so much. But what’s the reality? We’ll look at past market performances, including the surprising results from 2024 and Trump's first term, and evaluate why forecasts often miss the mark. Plus, we’ll discuss the importance of diversification an...
Feb 04, 2025•14 min•Transcript available on Metacast With the inauguration of President Trump behind us, a wave of changes is already in motion—executive orders reshaping policies, and bold tax proposals that could have significant implications for your bottom line. While not everything in a campaign becomes reality, understanding these potential shifts is key to staying ahead. In this episode, we’re diving into Trump’s new tax agenda, including how a C corporation instead of an S corporation could be the new norm for 1099 earning ER docs....
Jan 28, 2025•23 min•Transcript available on Metacast When it comes to taxes, income tax often takes center stage in our minds. But for high-income earners, like ER doctors, the tax landscape is much broader and more complex. Beyond federal and state income taxes, there are hidden and often overlooked taxes that can quietly accumulate into a substantial burden. Let’s dive into how you can take control of your tax strategy and maximize your wealth.
Jan 21, 2025•29 min•Transcript available on Metacast This year brings new challenges for ER physicians—rising patient volumes, increasing administrative burdens, and the ever-present risk of burnout. In this episode, we’ll explore how these factors are reshaping careers and discuss practical strategies for maintaining balance, prioritizing mental health, and aligning your work with your personal and financial goals. Whether you’re an experienced EP or just starting out, we’re here to help you navigate these shifts and build a sustainable path forw...
Jan 14, 2025•18 min•Transcript available on Metacast As the new year begins, it’s the perfect time for ER doctors to hit the reset button on their finances. In this episode, we’ll explore how to create a financial game plan that works for your unique career and lifestyle. From setting achievable money goals to tackling student debt and maximizing investments, this episode will help you start the year on the right foot. Let’s turn your financial resolutions into reality....
Jan 07, 2025•14 min•Transcript available on Metacast Today we're diving deep into a retirement strategy that's gaining traction—we'll call it " phased retirement ." Instead of the traditional abrupt transition from full-time work to complete leisure, phased retirement allows Emergency Physicians to gradually wind down their careers by transitioning to locum tenens positions. This approach offers a multitude of benefits, both financial and psychological, which we will discuss....
Dec 31, 2024•15 min•Transcript available on Metacast Today, we’re revisiting a topic that keeps coming up in our conversations with clients and listeners—how to best approach your retirement contributions, specifically when it comes to choosing between pre-tax retirement accounts and post-tax brokerage accounts. We'll get into the math involved with the decisions and when it may be appropriate to lean towards one over the other....
Dec 24, 2024•18 min•Transcript available on Metacast As we close out the year, it’s the perfect time for a financial checkup. While we often focus on our savings rate during our working years, once we transition into retirement, the spotlight shifts to something equally, if not more, important: our spending rate. Today, we’re diving into how the way we spend impact s our long-term financial security, and why taking a step back to reflect on our spending habits at the end of the year is essential for making sure we’re on track....
Dec 17, 2024•18 min•Transcript available on Metacast As the year wraps up, it’s time to turn our attention to the essential financial tasks that need to be checked off before January 1st, 2025. In today’s episode, we’ll walk you through the key deadlines and action items for your year-end financial checklist—everything from maxing out retirement contributions to taking care of your RMDs. Whether you're a W-2 employee or a 1099 contractor, there are some critical moves to make before the clock runs out. So, let’s dive in and make sure you’re ending...
Dec 10, 2024•22 min•Transcript available on Metacast Today, we’ll break down the latest updates on 401(k), IRA, and HSA limits for 2025, and forecast the tax landscape under the new administration. We’ll also look at the possible extension and expansion of the TCJA, the SALT cap, and tax credits—and even provide a few things you may want to do before year-end and things you may want to wait to do until after the new year kicks off....
Dec 03, 2024•24 min•Transcript available on Metacast We’re diving into a topic that many people overlook when it comes to their finances—the importance of working with a unified financial team. We recently received a question from an investment manager of a client we only handle tax services for, and it sparked an important discussion about the need for clear communication between financial professionals. Specifically, we’re looking at how IRA conversions can be impacted when tax planning and investment advice aren’t fully coordinated. We’ll also ...
Nov 26, 2024•23 min•Transcript available on Metacast So today, we're diving into our post-election world, with a focus on student loans. Trump, plus a Republican majority in the Senate, means there's, at minimum, uncertainty on the horizon as it pertains to loan programs - income-driven, PSLF, SAVE, and anything in between. If you’ve got student loans or you’ve been planning your path to forgiveness, we'll try to unpack what you may want to do now before things change and it's too late....
Nov 19, 2024•21 min•Transcript available on Metacast In this episode, we explore the Roth vs. Traditional retirement account decision specifically for ER docs. With high income, fluctuating tax brackets, and the potential for major tax changes in the future, choosing the right account can significantly impact your long-term financial strategy. We break down the pros and cons of each account type, discuss how to leverage tax planning opportunities during your career and retirement, and help you navigate the complexities of saving for the future whi...
Nov 12, 2024•16 min•Transcript available on Metacast With the market performing well recently, many of you may find yourselves sitting on sizable gains in your portfolios. But how do you navigate these gains effectively to optimize your tax situation? On today's episode, we'll break down the mechanics of tax-gain harvesting—what it is, when to use it, and how it can potentially save you money—alongside the more familiar tax-loss harvesting strategies....
Nov 05, 2024•21 min•Transcript available on Metacast With so much perceived to be at stake and tensions running high, it's easy to get caught up in the political drama. However, as a finance-focused podcast, our aim is to shift the conversation toward how financial markets have historically reacted to election outcomes. We’ll explore the trends, debunk some myths about market behavior during elections, and offer our perspective on not only the market and economy, but personal finance as a whole whether we're led by a Republican or Democrat come No...
Oct 29, 2024•15 min•Transcript available on Metacast Disability can be one of the most significant financial threats to your career and income. 1 in 7 people will suffer from a disability that will last at least 5 years. That's fairly decent odds for a potentially severe financial outcome. On today's episode, we’ll explore why having the right amount of coverage is vital, how to calculate your needs, and which riders you should consider to tailor your policy. This is a must-listen episode if you are in residency or under-covered with your current ...
Oct 22, 2024•32 min•Transcript available on Metacast Finance can be complex. It's very easy to focus on the bells and whistles instead of the tried and true. So today, we’re stepping back to explore the core financial principles that every emergency physician should know. Understanding what areas to focus on, and which to avoid, is just as important whether you're fresh out of residency or a seasoned pro.
Oct 15, 2024•23 min•Transcript available on Metacast Over the past 14 years, we’ve seen a major shift in interest rates that’s changed how we handle cash. Starting back in 2008 during the financial crisis, rates were so low that many people kept minimal cash because it just wasn’t earning anything. But after the pandemic, rates climbed, making it easier to earn decent returns on savings. Now, as we expect more rate cuts, it’s a good time to rethink how we manage our cash and consider smarter investment strategies....
Oct 08, 2024•13 min•Transcript available on Metacast How do you perceive your future self? How you answer that may matter when it comes to your finances. Research shows we may have a particular POV when it comes to looking forward at our lives, which can lead to challenges in saving for retirement. On today’s episode, we'll explore how this disconnect, along with concepts like temporal discounting and loss aversion, can impact your spending habits now and in retirement....
Oct 01, 2024•20 min•Transcript available on Metacast We’ll kick today’s episode off with a surprising New York Times article that challenges the validity of supercentenarians and those so-called Blue Zones we discussed before. From there, we’ll explore the current economic landscape, where conflicting predictions are the name of the game. With a heated presidential race and fluctuating markets, it’s time to unpack the chaos, debunk some myths, and find out what really matters for your financial future. Let’s get started!...
Sep 24, 2024•21 min•Transcript available on Metacast We’re excited to feature our first client on the Money Talk for ER Docs podcast! We’ve planned to do this for some time now and couldn’t be more thrilled to have Dr. Brian Laakaniemi as a guest as he discusses his path to EM as well as his finances. We love the idea of continuing to host existing clients on the podcast and we hope you, as a listener, not only enjoy hearing the perspective of a fellow emergency medicine practitioner, but also find value in their experience and insights. For legal...
Sep 17, 2024•43 min•Transcript available on Metacast Identity theft is a real concern for ER docs due to high patient interaction volume. Consider the reality that accessing an EP’s signature can open up opportunities to obtain medications or allow for other financially-driven motives. Combine this with other variables, such as higher income and thus higher credit limits and a busy lifestyle that may prevent them from noticing identity theft schemes, it’s no mystery as to why ER docs as a subset of professionals are prime targets. On today’s episo...
Sep 10, 2024•16 min•Transcript available on Metacast We are constantly inundated with clickbait-y headlines and concepts that are hard to ignore. A once-a-day pill to shed fat, increase alertness, get wealthy, grow your hair back – whatever it may be, even the biggest skeptics can begin questioning their skepticism when painted a convincing enough picture. But what about velocity banking? Is it another fad or an exception? Can you really use this as a method to not only shave years off your mortgage, but also save hundreds of thousands of dollars ...
Sep 03, 2024•19 min•Transcript available on Metacast From white water rafting to taking a trip to the grocery store, there’s always some level of practical analysis and mapping that can, and probably should, be performed. Doing so helps us make more informed decisions, capitalize on strengths, address weaknesses, seize opportunities, and mitigate threats to enhance overall well-being and productivity. On today’s episode, we perform a SWOT Analysis of the personal finances of emergency physicians to really evaluate all of the ways EPs can find succ...
Aug 27, 2024•22 min•Transcript available on Metacast We all have experienced a pretty rapid run-up in mortgage rates since 2020-2021. Of course, no one knows where the top (or bottom) will be moving forward. But at least over recent history, rates have dropped a good amount to the point where there are mortgage opportunities for many to explore. On today’s episode, we’ll discuss the decision-making process of refinancing and get into other forms of equity lines of credit that can be appealing even for those with low-interest rate primary mortgages...
Aug 20, 2024•16 min•Transcript available on Metacast 
