This epsiode of the Finance Flash Go! podcast is all about saving your money!

This podcast is all about the basic strategies to achieving financial freedom though, which by definition is all you need. I say this to emphasize that what I am going to share with you is a very simple recipe to achieve financial well-being and a safe retirement.

Save 20% of your gross income.

Do this and invest safely as I will teach you and you will be almost assuredly set.

For example, we can determine that we would need to save $50,000/year for 30 years assuming a very conservative 5% return to live on $120,000 annually in retirement.

If your annual gross income is $250,000. This is right around the median (actually a bit below) average physician income in 2020.

So just about every physician should be able to do this, and really even do a lot more.

So, as we go into the new podcast episodes on creating a budget and a savings plan, keep this 20% savings rate as a baseline goal.

Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to [email protected], and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.

A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.

We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!