February 22, 2021

551: Erik Smith | Get Your Health and Finances in Check

32 minutes

Built on knowledge, integrity, and excellence, Erik Smith is committed to helping health care professionals with financial education. Having seen and experienced firsthand, the lack of financial knowledge in the healthcare industry and lack of loyalty and security in corporate America, Erik began traveling the country to serve and educate clients. He is also the host of the Healthy Wealth Podcast, where he is passionate about setting people up for healthy wealth in this broken healthcare system.

In this episode, we’ll dive into Erik’s story and start learning a bit about how you can get your health and finances in check!

Things you will learn in this episode:

[00:01 - 07:23] Opening Segment

Sponsored ad

I introduce today’s guest Erik Smith

Financial health

Podcast host

Erik gives us some background on his story

Always active as a kid

Parents worked in defense

Experiencing his dad’s job loss

His dad’s entrepreneurial vision

Adjustment period

A desire to go into the medical field

Taking care of his ill father

Passionate about the numbers

[07:24 - 14:23] The Decisions We Make Always Include Our Finances

Erik talks about pivoting away from the career path

Getting into business

A desire to help with people’s finance

The decision to go into healthcare finances

Connections

Understanding what it’s like

The epidemic of financial illiteracy

[14:24 - 27:49] Get Your Health and Finances in Check

Erik shares about getting financially literate and in order

Understanding compound interest

The Rule of 72

Understanding 401K’s

Know what you’re investing in

Take advantage of the free money

Reallocate - do something beneficial tax-wise

A word from our sponsor

How to get educated about finances

Find someone you trust and who is credible

Ask your advisors what they focus on

They work for you not the other way around

Network with the right people

Getting your health in order

‘Deck of Cards’ workouts

Utilizing your body weight

Starting with the basics

Choose your hard

[27:50 - 31:49] Closing Segment

Who you know or what you know?

Who you know and who knows you

What you do with who you know

Mutually beneficial relationships

ThE RaNDoM RoUnD

How to reach out to Erik

Links below

Final words

Tweetable Quotes:

“The decisions we make, most of the time, are because we either have the money to do so, or because we don’t have the money to do so.” - Erik Smith

“I’ve met some people that are in my industry and work closely with and they were finance majors in college, and THEY didn’t even learn some of the things we learn about… the system is completely broken.” - Erik Smith

Resources Mentioned:

Healthy Wealth Podcast

Connect with Erik on Instagram, Facebook, and LinkedIn. Visit https://healthywealthpodcast.com/ to learn more.

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