PA the FI Way

In today's episode, my sister who works in the dental field as a LDA (licensed dental assistant) joins me on the show to share about our recent joint medical and dental mission trip to Honduras. It's important to think about how you will want to spend your time once you reach financial independence, and you should test those ideas out before you even get there. You may decide to try to give back your time, your skills, or your money (or possibly all of them!) to others at home and abroad. There are mission trip teams that you can join to bring healthcare and hope to those in need. On this trip, 55 team members from the medical team, dental team, and optical team saw 1,752 patients over the course of four clinical days! Take a listen to hear about our recent mission trip adventure filled with fun, fulfillment, and several challenges along the way. 

Resources: 

Rebekah's Instagram: @rebekahingrid 

MMO's website: medical-outreach.com 

If you need some guidance on your financial journey, reach out to me about coaching opportunities through Instagram or by emailing me at [email protected]

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/

Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/  

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

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

Keywords: mission trip , medical mission trips , physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , nurse practitioner 

A HELOC, aka Home Equity Line of Credit, might be a helpful financial tool for you. However, there are several pros and cons of HELOCs to consider prior to opening one. Take a listen to learn what a HELOC is, the pros and cons of opening a HELOC, and some ideas of what you could use a HELOC for, including some that could help you build wealth. 

If you're ready to get started on your financial journey, reach out to me about coaching opportunities: [email protected]

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/

Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/  

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

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

Keywords: HELOC, home equity line of credit, physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , nurse practitioner 

In today's PA the FI Way podcast episode, we will explore the 5 types of FIRE: 

1. Traditional FIRE: This method is for you if you're pursuing financial independence (FI) with the option to retire early (RE) after investing until you accumulate enough wealth to sustain your lifestyle without relying on traditional employment. Typically, this means reaching a savings goal of 25 times your annual expenses, or up to 30 to 33 times your annual expenses if you want to retire very early. 

2. Lean FIRE: This method is for you if you can have a tighter budget and embrace the more minimalistic lifestyle while living off of $40K per year or less. 

3. Fat FIRE: This method is for you if you desire a large amount of money to spend annually on life's luxuries in retirement while living off of $100K per year or more. 

4. Coast FIRE: This method involves you reaching a point in your savings where you let your investments grow on their own through the power of compound interest, without making additional contributions. Once you hit Coast FIRE, you no longer NEED to contribute to reach FI at a traditional retirement age. While you may not be fully financially independent yet, Coast FIRE provides more flexibility on the way to FI. 

5. Barista FIRE: This method has you aim to accumulate enough to be able to transition to part-time or low-stress jobs, such as working as a barista, to supplement your income or provide benefits such as more affordable healthcare. 

Which type of FIRE are you pursuing? 

If you're ready to get started on your financial journey, reach out to me about coaching opportunities: [email protected]

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/

Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/  

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

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

Keywords: physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , healthcare provider finances , healthcare professional finances , healthcare provider financial independence , healthcare professional financial independence 

If you regularly tune into the PA the FI Way podcast, you likely have had the thought about becoming a business owner or starting a side hustle. In this episode, we're diving into the 25 benefits of becoming a business owner and taking the entrepreneurial leap. We will review how owning a business can offer the potential for independence, flexibility, autonomy, wealth-building opportunities, and personal growth.

We will also review how entrepreneurs enjoy the freedom to make their own decisions, set their schedules, and shape their businesses according to their visions. As we explore these benefits, my hope is to inspire those considering this path and shed light on why entrepreneurship is an appealing choice for so many.

Whether you're an aspiring entrepreneur or simply curious about the world of business, this episode will offer valuable insights into the benefits of becoming a business owner or entrepreneur. Subscribe now for more enlightening episodes, and stay tuned for more! 

If you're ready to get started on your financial journey, reach out to me about coaching opportunities: [email protected]

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/

Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/  

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

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

Keywords: physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , nurse practitioner , medicine , medical student , healthcare entrepreneur , healthcare provider , healthcare professional 

With student loan interest starting to accrue again this month and student loan payments resuming next month, this is the student loan podcast episode you’ve been waiting for! Andrew Paulson, CSLP, who is a student loan expert, is with Student Loan Advice, a trusted White Coat Investor company. Andrew joins me on the show to discuss the changes to student loans since the COVID pandemic, the new SAVE plan, and some recent changes to PSLF. We also discuss how you can decide if one of these options may be a good choice for you to consider, or if you should instead try to refinance your loans for a lower interest rate while paying off your loans aggressively. Since Student Loan Advice is also a trusted affiliate by PA the FI Way, you can learn more about working with Andrew to review your specific student loan situation at StudentLoanAdvice.com/PAFI

If you're ready to get started on your financial journey, reach out to me about coaching opportunities: [email protected]

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/

Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/  

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

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

Keywords: physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , nurse practitioner , medical school , medical student , student loan repayment 

In this episode, Shayne Foley, PA-C and Jordan Fisher, PA-C from The PA Blueprint join as guests to discuss Ramit Sethi's 10 Money Rules. We share our thoughts and personal variations of the rules, and we discuss other money rules to consider. We also share what our future rich lives look like once we have reached financial independence as PAs, and some steps we're taking to try to live our rich lives today. 

If you haven't already yet, read or listen to Ramit's book called I Will Teach You to Be Rich. 

Connect with Shayne and Jordan through LinkedIn or through their website.

If you're ready to get started on your financial journey, reach out to me about coaching opportunities: [email protected]

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/

Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/  

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

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

Keywords: physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , sabbatical , healthcare sabbatical , nurse practitioner 

If you're a self-employed physician associate or other healthcare professional who is a practice owner or an independent contractor (1099), you likely have several business expenses that you could use to help lower your taxes. In this episode, we'll review the common business expenses that you might have, and you'll learn why it's important that you work with a qualified tax professional to help you with your specific situation and to understand if the expense is ordinary and necessary for your business. 

(The information covered is not tax advice.)

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!

If you're ready for more support and accountability on your financial journey or in your career, reach out to me about coaching opportunities: [email protected]

Website / Blog: pathefiway.com 

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/

Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/  

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

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

Keywords: PA , physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , nurse practitioner , chiropractor , physician , physical therapist , occupational therapist , mental health therapist , CRNA , LLC , business owner , clinician , clinic owner , healthcare provider , 1099 independent contractor , sole proprietor 

The contribution limit for your 401K in 2023 is $22,500 for those of us under the age of 50, so you're assuming you for sure can contribute that whole amount to max out your 401K out for the year, right?? Unfortunately, that's not always the case! If you're considered a highly compensated employee (HCE), then if you try to max out your 401K, you could actually get a 401K refund due to your employer not passing the nondiscrimination test. Listen to learn more about what this means! 

If you're ready to get started on your financial journey, reach out to me about coaching opportunities: [email protected]

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/

Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/  

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

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

Keywords: physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , nurse practitioner , physician , healthcare workers , healthcare professions 

Many physician associates and other health care providers are changing jobs due to burnout or negotiating better compensation and benefits in other roles. But what are you supposed to do with the money in your old 401K plan through your previous employer? What happens to it if you change jobs? What are your options? 

You actually have 4 different options to consider for your investments within your old 401K plan. In this episode, we'll review what those options are, discuss which option isn't ideal, and the pros and cons to consider for all of these options. 

If you're ready to get started on your financial journey, reach out to me about coaching opportunities: [email protected]

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/

Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/  

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

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

Keywords: physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , nurse practitioner , health care professional 

More and more healthcare providers are experiencing burnout and considering leaving medicine altogether. Instead of leaving medicine completely, it's possible that working in a nonclinical role in medical industry could provide you with the work-life integration that you're looking for. Rachel Jurgenson is a fellow PA-C who transitioned into industry several years ago after working in clinical medicine for many years. She has had several industry roles and feels as though the medical industry field can make many providers happier while still having a positive impact on patients. Interested in learning more? Join Rachel's Facebook group (Making an Impact in Medical Industry as a Healthcare Provider), or checkout the course that Rachel recently launched (Mastering Medical Industry as a Healthcare Provider Course)!

Connect with Rachel: 

Facebook Group: https://www.facebook.com/groups/makinganimpactinmedicalindustry/

Instagram: @racheljurgenson.pac

Website: https://1patientatatime.com/

Resources mentioned in this episode: 

Atomic Habits (book)

If you're ready to get started on your financial journey, reach out to me about coaching opportunities: [email protected]

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/

Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/  

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

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

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