Doc, are you thinking about making some New Year’s resolutions that involve your personal finances? Hopefully that is a loud YES. Well, today on the podcast we are talking all about financial goals for the New Year that you likely have as a physician. Goals like how to create an emergency fund, save more money, increase your financial literacy, income, pay off student loans, and more. We are diving all in, so join us so you can make 2023 your best financial year yet.

Looking to increase your financial literacy this year even more?  Check out Medical Degree Financial University → thephysicianphilosopher.com/MDFU

Let’s be honest… we all love learning from other people’s financial mistakes. It is like a slow-motion car accident. You just can’t take your eyes away. Money mistakes are going to happen, and we are going to discuss a few common financial mistakes that doctors make. 

Come join Lisha and I as we discuss our share of financial mistakes, and some of them are very common and might resonate with you on episode 98 of Money Meets Medicine.

PS -Get 10% off your contract review by going to thephysicianphilosopher.com/resolve and using code 10OFF

Chris Voss Book - Never Split The Difference (affiliate link)

With all the recent changes surrounding student loans, it’s easy to fall out of the loop. If you’re not up-to-date on public service loan forgiveness (PSLF) and other rule changes related to repayment of your medical school loans, you’ll want to tune into our conversation.

We’re answering this question from a Money Meets Medicine listener:

“Once I refinance my student loans, how can I get student loan forgiveness if I change my mind?”

You’ll hear what we have to say about that.

Other questions answered:

• What are the new PSLF requirements and when do they take effect? 
• I missed the waiver that expired in October 2022. Am I really out of luck?
• I submitted my PSLF form, but still haven’t heard back yet. When will my payments be updated? 
• Can I get the $10,000 forgiveness and get PSLF? 
• Did the Biden administration make a change to the student loan forgiveness plan that excludes some borrowers from relief? 
• When should I consider refinancing my student loans?

Looking to increase your financial literacy?  Check out Medical Degree Financial University → www.thephysicianphilosopher.com/MDFU

As we head into the final months of the year, which is typically the time of year for open enrollment for benefits, lots of benefit questions inevitably arise - particularly in regards to spending accounts like HSA vs FSA. 

• What’s the difference between an HSA and a FSA? 
• What are the potential benefits of using these accounts?
• Which type should you use - or should you use both? 

We’re tackling these questions and more for physicians who want to make sense of their employee benefits in order to better understand their impact.

 

Looking to increase your financial literacy?  Check out Medical Degree Financial University → thephysicianphilosopher.com/MDFU

“I don't understand the different retirement funds… I don't even really know what a fund is. I know I need to be investing, but I could use some guidance doing it.”

Sound like you? Trust us, we get it. When you’re a busy doctor, retirement fund lingo-translating feels like taking on another job. And nobody has time for that.

Retirement funds are one of the biggest points of financial confusion for doctors. We want to provide some clarity and understanding so you can learn what you need to know to start making your money grow.

Listen in as we cover five things about retirement accounts every doctor should know.

https://thephysicianphilosopher.com/pfs

Looking to increase your financial literacy?  Check out Medical Degree Financial University → thephysicianphilosopher.com/MDFU

The purpose of emergency funds is to be separate, accessible, and available when you need.

 But is an emergency fund really just a huge opportunity cost for most doctors?

Join Dr.Lisha and I as we dive into everything you need to know on emergency funds.

PS - if you want to increase your financial literacy in order to get to financial independence faster, then make sure to sign up for the 2-Day Financial Freedom Workshop for Physicians that I’ll be running on June 14th and June 16th.  

You can register for the event and download your Financial Freedom Toolkit PDF by going to www.thephysicianphilosopher.com/workshop 

Unless you have been living under a financial rock, you have probably heard about investing in I Bonds. It seems to be all the rage right now, but is it really worth it? Today on the podcast we are going to give you everything you need to know about I Bonds (the pros, cons, how to know if I Bonds are right for you, and when you should get an I Bond). 

If you are looking to learn more about your personal finance, Medical Degree Financial University (MDFU) is opening up in June and we would love to see you there! Go to https://thephysicianphilosopher.com/mdfu-founder to learn more and join the waitlist!

Have you ever felt like things are getting really heavy? And that you need to make a change? That is what we are going to do today on the show today. We are going to pull back the curtain and talk about things that have been going on in our lives. Often people don’t think about the lives of the people behind the YouTube videos or podcasts like this one, Money Meets Medicine. So today we are going to dive in and talk about hard decisions on this podcast Money Meets Medicine. Join us as we explore why resting in your personal and financial lives is essential for healthy success.

For doctors, the story has changed. Visit www.financialresidency.com/LocumStory to see if a locum tenens assignment is right for you.

Do you know what can be an annoying process? Having to listen to ads in order to listen to podcasts. Do you know what’s not an annoying process? Working locum tenens with Weatherby healthcare. Our experts streamline everything from credentialing to housing with industry-leading technology and know-how so you can simply focus on what you love – practicing medicine. Head to www.financialresidency.com/weatherby to get started, and feel free to keep your favorite podcast on while you’re at it.

Have you ever felt the tension between needing to save more money (or pay down debt) and the human need to enjoy today? There is a phenomenon that happens in both coaching and personal finance, people learn the tools and then use the tools against themselves. So today we are discussing why you should make that big purchase you have been depriving yourself of and how to make sure you do it in a financially smart way.    Listen along today as we talk about that Porsche 981 Cayman S, house, and expensive vacation you want and how to get it. Learn how you can save for tomorrow while you also enjoying today.

If you want to boost efficiency across your practice and make staff scheduling easier, try the Deputy app. You can try this smart technology for free by going to www.doctorpodcastnetwork.com/deputy 

Physician turnover is high, specifically after the first 2-5 years of training. With doctors changing jobs so often, it is important to establish an emergency fund early on (and to consider the cost of leaving a job in medicine).  So today we wanted to dive into why everyone, including us, says you need an emergency fund, where you should put that money, what to use it for, and what NOT to use it for. We are also going to do some real talk on doing the math BEFORE you decide to either change jobs or leave medicine altogether. Listen today so you know you are making the right decisions for yourself when it comes to your career and money.

For more locum tenens information, www.doctorpodcastnetwork.com/locumstory is your final destination.