Finance for Physicians

Financial Vitals Check Part 4: Safety Net Check

Listen Later

Life doesn’t always go as planned. It’s full of twists, turns, and curveballs. Cover all your bases in the event of a worst-case scenario because it can come out of left field. You never see it coming or know when something could happen.

In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about performing a safety net check as part of your financial vitals.

Topics Discussed:
  • What is a safety net check? Checking coverage for worst-case scenario
  • When to plan for unexpected, unplanned events? Now—before it’s too late
  • What are the odds? Based on large groups of people, not individuals
  • What’s your other financial vitals? Safety net coverage takes more than assets
  • Important Info: What to document/track for life, disability, other insurance policies
  • Who is covered (insured)? You, your spouse, children, or beneficiaries
  • Estate Plan: Who needs it and why? Indicates who handles and gets what
  • What are worst-case scenarios? Unexpected death, disability, or emergency
  • Is your safety net adequate? If not, increase or decrease coverage, reserves
    • Links:

    What You Need To Know About Estate Planning

    Financial Vitals Check Part 1: Clarify Values

    Financial Vitals Check Part 2: Save, Spend, Give Ratio

    Financial Vitals Check Part 3: Net Worth

    Contact Finance for Physicians

    Finance for Physicians

    ...more
    View all episodesView all episodes
    Download on the App Store
    Finance for PhysiciansBy Daniel Wrenne
    • 4.7
    • 4.7
    • 4.7
    • 4.7
    • 4.7

    4.7

    39 ratings

    More shows like Finance for Physicians

    View all
    Afford Anything by Paula Pant | Cumulus Podcast Network

    Afford Anything

    3,579 Listeners

    Money Guy Show by Brian Preston and Bo Hanson

    Money Guy Show

    3,236 Listeners

    Your Money, Your Wealth by Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors

    Your Money, Your Wealth

    804 Listeners

    Retirement Answer Man by Roger Whitney, CFP®, CIMA®, RMA, CPWA®

    Retirement Answer Man

    1,299 Listeners

    ChooseFI by ChooseFI

    ChooseFI

    5,165 Listeners

    White Coat Investor Podcast by Dr. Jim Dahle of the White Coat Investor

    White Coat Investor Podcast

    2,453 Listeners

    Stay Wealthy Retirement Podcast by Taylor Schulte, CFP®

    Stay Wealthy Retirement Podcast

    673 Listeners

    BiggerPockets Money Podcast by BiggerPockets

    BiggerPockets Money Podcast

    3,090 Listeners

    Bogleheads On Investing Podcast by bogleheads

    Bogleheads On Investing Podcast

    599 Listeners

    Sound Investing by Paul Merriman

    Sound Investing

    347 Listeners

    Money Meets Medicine by Doctor Podcast Network, Jimmy Turner MD

    Money Meets Medicine

    229 Listeners

    The Personal Finance Podcast by Andrew Giancola

    The Personal Finance Podcast

    1,414 Listeners

    The Rob Berger Show by Rob Berger

    The Rob Berger Show

    202 Listeners

    Personal Finance for Long-Term Investors - The Best Interest by Jesse Cramer

    Personal Finance for Long-Term Investors - The Best Interest

    156 Listeners

    Retirement Planning Education, with Andy Panko by Andy Panko

    Retirement Planning Education, with Andy Panko

    1,064 Listeners