This episode is sponsored by Freed.AI - Get 50% off your first month of using their AI-powered medical scribe software! Add FR50 to your cart! Should you pay off debt or invest? It’s a straightforward question.  Yet, the answer is often not so straightforward and really depends on your situation.    In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Jeff Wenger about the proper way to think through this question so that you can begin making more educated decisions about debt and investing.  Topics Discussed: • Assumptions and Assessment Factors: ◦ What’s more important right now—financial independence or flexibility? ◦ Are you saving enough or have enough to invest or pay off debt? ◦ Mitigate Risks: Why consider return rates, interest rates, taxes, cash flow? • Mortgage Myths: Pre-payments can actually create loss of flexibility with funds • Be strategic: Consider refinancing debts to change the variables in your favor • Financial Stress: What makes you happy versus what makes you worry? LINKS:  www.WrenneFinancial.com

Financial Vitals - Should You Payoff Debt Or Invest with Jeff Wenger

As a doctor, you spent decades in school to get to where you are. Unfortunately, during all those years in medical school and residency, you probably didn't receive a financial education. But, not to worry. That’s where I come in. Think of this podcast as your financial residency without the long hours and sleepless nights! I will guide you through a financial education resulting in money confidence and clarity in this critical aspect of your life. You’ll understand how you make money, how you spend money, how your hard-earned money can work for you, and how to protect yourself and your family. I have witnessed residents and fellows bombarded by life and disability insurance salesmen and other “investment” pitches that are not in their best interest. You didn’t receive any formal financial education in your decades of medical training, so how are you supposed to know the good financial advisors from the bad? This podcast will help with that. Remember, it’s ok to not know the difference between a ROTH IRA and a 403b or which 529 plan is best. This podcast will simplify highly complex concepts and translate industry jargon into plain English. Are you ready to take action and make smarter, more informed financial decisions? Great - let's do this! Let your financial residency begin.

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Real estate expert Darlene Dresch provides valuable insights on the home buying process for physicians. She emphasizes the importance of finding the right realtor and getting pre-approved quickly. Darlene debunks common myths and offers advice on physician loans, debt-to-income ratios, and building wealth through real estate. She highlights the significance of choosing the right community and understanding the local market. Listeners are encouraged to interview multiple real estate agents, ask about their experience with physician relocations, and inquire about their communication style. Darlene provides a comprehensive guide to help physicians navigate the home buying process successfully.                     Timestamp   Summary     0:01:02   Common mistakes physicians make in the home buying process     0:04:21   Importance of getting pre-approved before falling in love with a house     0:09:35   Find a real estate agent who is fiduciary to protect your best interests.     0:11:17   Factors to consider when choosing a neighborhood include walkability, school district, and amenities.     0:19:48   Paying off student loans first may not always be the best option.     0:20:18   Having no debt can be a disadvantage when applying for a mortgage.     0:23:53   Start building credit early by putting small expenses in your child's name.     0:28:57   Ideal step-by-step process for buying a house as a physician     0:35:14   Steps to follow: avoiding debt, talking to lender, interviewing realtor     0:38:49   The importance of choosing a lender and realtor carefully     0:40:10   Questions to ask when interviewing real estate agents     0:49:00   How realtors negotiate commission and credits from sellers.      Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

A Physician’s Guide to Wealth - Critical Physicians Home Buying Mistakes and Myths Debunked With Darlene Dresch

In this episode of "A Life Well Lived: A Physician's Guide to Wealth," James Nutter emphasizes the importance of time and how it is the most valuable resource we have. He shares an exercise he does every year to audit his time and evaluate how he spent it. By categorizing things to leave behind, people to leave behind, things to bring forward, and the best moments and people of the previous year, he is able to prioritize joy and fulfillment in his life. Nutter encourages listeners to schedule time to do this exercise and experience the rewards of intentional time management.         Timestamp   Summary     0:00:03   Introduction: The value of time     0:00:32   Importance of using money to create more time     0:01:37   Annual exercise: Auditing your time           0:03:39   How to conduct the exercise     0:08:49   Scheduling time for the exercise     0:09:54   Personal growth through the exercise     0:10:37   Conclusion: Taking control of your life      Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

A Physician’s Guide to Wealth - Maximizing Time: Audit Your Life to Create More Joy

Welcome back to the Mortgage Minute with your host Doug Crouse from BMO Bank. In this episode, Doug demystifies interest rate quotes, explaining the basics of how rates are quoted, the concept of discount points, and how rates are typically broken down into eighths of a point.  He uses practical examples to illustrate the difference between paying for a lower rate and receiving rebates for a slightly higher rate, helping listeners make informed decisions in the current economic environment. Tune in for clear, actionable insights on navigating your mortgage options. If you have questions, Doug is available at DougKraus.com. 

Mortgage Minute - Interest Rates and How They Are Quoted

Zoe Cangas is the founder of Moving Medicine Partners, which is a network of realtors who specialize in physician properties and who are also married to physicians. They understand the special needs that physicians face because they are part of physician families themselves. Zoe talks to us about finding the right realtor, how legislation may affect buying/selling in the future, and the advantages of having rental properties to offset high physician incomes.  You can learn more about Zoe or find a realtor who works with physicians at  www.MovingMedicinePartners.com.

Grand Rounds - Everything real estate with Zoe Cangas of Moving Medicine Partners

In this heartfelt episode of "The Life Well Lived, the Physicians Guide to Wealth" podcast, host James Nutter invites Todd Spencer, a devoted husband to surgeon Amy Spencer, to share his deeply personal experiences and learnings from life as part of a medical family. Todd's engaging storytelling provides an intimate glimpse into the life of a physician's spouse, highlighting the joys, challenges, and profound lessons learned along the way. Todd Spencer delves into the importance of being intentional with time, the practice of grace within the relationship, and the nuances of navigating schedules and responsibilities with a partner who is deeply immersed in the medical field. His candid discussions about adapting to the role of a stay-at-home dad, the critical nature of self-care for the well-being of the entire family, and managing finances in a high-demand household are punctuated with wisdom and transparency. For any individual or family connected to the medical profession, this episode offers a treasure trove of relatable anecdotes and actionable advice, all while underscoring the value of cohesive partnership throughout the journey                 Timestamp   Summary     0:02:44   Todd and Amy's medical journey together     0:06:11   Challenges of being in a relationship with a physician     0:09:03   Balancing work and family life during residency     0:10:20   The challenges of breastfeeding and being a female surgeon     0:12:20   Importance of being intentional and thoughtful in a medical family     0:13:53   Being selfless and putting oneself in the other person's shoes     0:19:24   Todd's experience as a stay-at-home dad for six and a half years     0:24:01   Mental games and managing expectations as a stay-at-home dad     0:27:37   Importance of sleep, food, and self-care for executing the mission     0:29:21   Recognizing and diagnosing stress and burnout     0:37:26   Managing time and resources as a busy family     0:39:04   Managing conflicts in time and money resources     0:43:35   Setting aside dedicated time for financial discussions     0:51:36   Advice for young Todd and Amy: Recognize and manage stress and burnout      Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

Financial Vitals - Should You Payoff Debt Or Invest with Jeff Wenger

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