PA the FI Way

This is Part 1 in reviewing the basics of investing and retirement accounts for PAs, and the beginning of reviewing the order of operations for starting to invest to build your wealth. 

Investing can seem overwhelming and scary to start with, but it's so important that you understand that you need to get your money invested, not just sitting around in a savings account, so that it can earn more money for you. 

The basics of investing in low-cost broad-based index funds are reviewed. If you're a physician assistant or PA student, you have the smarts and discipline to become an investor!

HSAs are amazing tools to build your wealth, as they are triple tax advantaged! Read more about HSAs here: https://www.pathefiway.com/blog/why-you-should-consider-using-an-hsa-as-part-of-your-journey-to-financial-independence 

Website: pathefiway.com

Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/

Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway 

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Read about emergency funds, debt payback strategies, and investing vs. paying back debt here: https://www.pathefiway.com/blog/emergency-funds-debt-payback-strategies-and-should-you-invest-or-pay-back-debt

Are you just beginning your journey to financial independence and want to learn more? Download your FREE copy of the PA the FI Way Beginner’s Workbook here!

Website / Blog: pathefiway.com - View website to learn more about financial independence and to learn how we can work together to help you with your financial and career goals on your way to FI!

Enjoy the show? You can now support the PA the FI Way podcast through Buy Me a Coffee! Thank you for all of your support! https://www.buymeacoffee.com/pathefiway

Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/

Join the private Facebook group created for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway 

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Have you ever thought of why you think a certain way about financial topics, and others in your life may have a completely opposite point of view? Why is it easy for some people to save since childhood, while others have a hard time with saving?

In this episode, the concept of your Money Story will be discussed, as well as how you can shift from having a Scarcity Mindset to an Abundance Mindset so that you can rewrite your future Money Story! 

Website / Blog: pathefiway.com - View website to learn more about financial independence and to learn how we can work together to help you with your financial and career goals on your way to FI!

Prefer to pin the posts that you found informative? Follow along on Pinterest: https://www.pinterest.com/pathefiway 

Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/

Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway 

Like the Facebook page to follow along: https://www.facebook.com/pathefiway

Did you know that as a PA, there are several different ways that you can be compensated? Your income may not be as clearcut as getting paid via hourly pay or via a salary. In this episode, the various compensation models that physician assistants can get paid will be reviewed as well as some of the pros and cons of each, so that you can have an understanding of these options when you are interviewing for PA jobs as a new grad or throughout your PA career! 

This episode will review different compensation models such as salary, hourly, RVUs, or bonus structures. 

Additionally, I’m going to share which types of compensation models that I have experienced over my almost 7 years of practicing as a PA, along with some detailed income numbers. I decided to do this simply because I think sharing income information is helpful for other PAs, and I don’t think it’s done enough. However, income is clearly based on so many factors including the following: years of experience as a PA, medical specialty, state and even city or county within a state, as well as total compensation package including benefits. 

Learn more here: https://www.pathefiway.com/blog/an-overview-of-various-physician-assistant-compensation-models 

Website / Blog: pathefiway.com - View website to learn more about financial independence and to learn how we can work together to help you with your financial and career goals on your way to FI!

Prefer to pin the posts that you found informative? Follow along on Pinterest: https://www.pinterest.com/pathefiway 

Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/

Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway 

Like the Facebook page to follow along: https://www.facebook.com/pathefiway

Various tax tips to consider for physician assistants are reviewed, which include possibly being able to deduct student loan interest, investing in tax-deferred and tax-exempt accounts, donating to charity, homeownership, and why you should not necessarily be looking forward to a tax refund, as well as why you should NOT try to avoid earning more to try to pay less in taxes. 

Website / Blog: pathefiway.com - View website to learn more about financial independence and to learn how we can work together to help you with your financial and career goals on your way to FI!

Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/

Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway 

Like the Facebook page to follow along: https://www.facebook.com/pathefiway

Strategies to tackle your probable six-figure plus PA student loan debt amount are reviewed in this episode. Trying to pay off your student loans aggressively will help set you up for success and allow you to reach financial independence sooner! Some topics that are covered include the following: prevent lifestyle creep, increase your income, consider PSLF, consider IDR plans, and consider refinancing your student loans, as well as refinancing them again. 

Website / Blog: pathefiway.com - View website to learn more about financial independence and to learn how we can work together to help you with your financial and career goals on your way to FI!

Prefer to pin the posts that you found informative? Follow along on Pinterest: https://www.pinterest.com/pathefiway 

Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/

Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway 

Like the Facebook page to follow along: https://www.facebook.com/pathefiway

If you're a PA student, congrats on getting accepted into a PA program!!! The next 2 - 3 years will be some of the hardest of your life, but very rewarding. During PA school, it can be very tempting to spend some of your student loans on somewhat frivolous things to "treat yo' self" with the idea that you're just borrowing from your future self. But newsflash: your monthly student loan payments may be about as much as a monthly mortgage payment! So use the information in this episode to consider how to keep costs down while in PA school to help set you up for success on your journey to reach financial independence!

Website / Blog: pathefiway.com - View website to learn more about financial independence and to learn how we can work together to help you with your financial and career goals on your way to FI!

Prefer to pin the posts that you found informative? Follow along on Pinterest: https://www.pinterest.com/pathefiway 

Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/

Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway 

Like the Facebook page to follow along: https://www.facebook.com/pathefiway

If you're a Pre-PA student, you’ve thoroughly researched many career options, and decided that becoming a PA was the decision for you. The U.S. Bureau of Labor Statistics projects that the growth rate for physician assistant employment will be 31% from 2018 - 2028! Congrats on choosing to pursue an awesome career! Now the hard work begins. You are likely already feeling the pressure to ace every class in high school. You are likely also considering how to do that in undergrad as well so you can get accepted into a PA program for your master’s. Besides trying to get good grades, if you're listening to this podcast, you likely are also trying to figure out ways of going to college without diving deep into debt before you even start PA school. Well, here are some suggestions to do just that!

Website / Blog: pathefiway.com - View website to learn more about financial independence and to learn how we can work together to help you with your financial and career goals on your way to FI!

Prefer to pin the posts that you found informative? Follow along on Pinterest: https://www.pinterest.com/pathefiway 

Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/

Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway 

Like the Facebook page to follow along: https://www.facebook.com/pathefiway

Take the time to figure out your net worth by calculating your assets and liabilities so you know where you're starting from on your journey to FI. However, even if your net worth is currently a negative number, don't worry! Use it as motivation to get that number back into the black. 

Once you've calculated your net worth, decide how you're going to start tracking your net worth over time. It is very encouraging and fun to see this number increase steadily! I recommend and use the free tool called Empower (formerly called Personal Capital). Sign up here to receive $20 if you qualify.

Happy net worth tracking!

View website to learn more about financial independence and to learn how we can work together to help you with your financial and career goals on your way to FI: pathefiway.com 

Are you just beginning your journey to financial independence and don't know where to start? Download your FREE copy of the PA the FI Way Beginner’s Workbook here!

Enjoy the show? You can now support the PA the FI Way podcast through Buy Me a Coffee! Thank you for all of your support! https://www.buymeacoffee.com/pathefiway

Prefer to pin the posts that you found informative? Follow along on Pinterest: https://www.pinterest.com/pathefiway 

Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/

Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway 

Like the Facebook page to follow along: https://www.facebook.com/pathefiway

In this episode, I'll review why I chose to become a PA, and why I’m passionate about the PA profession. PAs were just named the #1 overall best job, #1 STEM job, and the #1 best health care job by US News! 

Although the PA profession is awesome, you should thoughtfully consider other careers as well before deciding that becoming a PA is the best choice for you. Try to shadow as many different types of professionals and PAs as you can! 

Learn about some differences between PAs and physicians, as well as PAs and NPs. 

Learn about some myths of the PA profession. 

Learn more at https://www.pathefiway.com/blog/why-choose-the-pa-profession 

Are you just beginning your journey to financial independence and don't know where to start? Download your FREE copy of the PA the FI Way Beginner’s Workbook here!

Enjoy the show? You can now support the PA the FI Way podcast through Buy Me a Coffee! Thank you for all of your support! https://www.buymeacoffee.com/pathefiway

View website to learn more about financial independence and to learn how we can work together to help you with your financial and career goals on your way to FI: pathefiway.com 

Prefer to pin the posts that you found informative? Follow along on Pinterest: https://www.pinterest.com/pathefiway 

Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/

Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway 

Like the Facebook page to follow along: https://www.facebook.com/pathefiway