PA the FI Way

Both W2 and 1099 jobs have pros and cons as reviewed back in episode 099. But what are all of the steps involved once you decide that you want to work as an independent contractor in a 1099 position as a PA or other medical healthcare provider? Since you're functioning as both the employee and the employer in a 1099 role while contracting with another company, there are many things that need to be set up behind the scenes.

In this episode, my friend and colleague Kristen joins me to discuss various steps like finding a supervising physician to collaborate with, setting up our own LLCs, obtaining our own malpractice insurance, setting up our own benefits such as medical insurance and retirement accounts, and much more. Take a listen to this informative and detailed episode to help you with your transition from a W2 role to a 1099 role!

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!

Are you interested in transitioning into a telemedicine role, but don't know where to start? Download your FREE copy of Transitioning to Telemedicine: Your Guide to Finding a Telemedicine Job

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 

Website / Blog: pathefiway.com

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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Keywords: independent contractor , 1099 job , telemedicine , telepsychiatry ,  virtual medicine , medical provider , healthcare professional , 1099 medical provider , 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

Telemedicine offers many advantages to both the patients and the healthcare providers that utilize it. Many physician associates, nurse practitioners, and physicians use telemedicine, as well as mental health therapists, physical therapists, dietitians, etc. In this episode, seven benefits for patients and providers are reviewed. Telemedicine is also utilized in many specialties and areas of medicine, and several of these specialties where telemedicine can be a good fit are discussed in this episode as well.

Are you interested in transitioning into a telemedicine role, but don't know where to start? Download your FREE copy of Transitioning to Telemedicine: Your Guide to Finding a Telemedicine Job

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 

Website / Blog: pathefiway.com

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 

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

Keywords: telemedicine , telepsychiatry , telehealth , virtual medicine , 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

This episode is the 100th episode of the PA the FI Way podcast, which I absolutely cannot believe! It's really special because it also coincides with the last episode of the year of 2022. For this episode, the financial and professional wins of the listeners who are PAs and healthcare providers were shared.

As the year comes to an end, it's so important to reflect back on what you can celebrate for this year before working on your goals for the next year. You all are doing some pretty amazing things, so congrats on all your hard work as well as big and small success stories. Can't wait to see what 2023 brings!

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 

Website / Blog: pathefiway.com

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 

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

As a practicing PA, you likely have seen different job postings for both W2 roles and 1099 roles. But  which one is better? The answer to that question depends on your specific situation and what you value since they each have several pros and cons. For example, W2 roles have benefits through the employer, while if you're an independent contractor in a 1099 role, you're responsible for setting up your own benefits. On the other hand, 1099 roles can help you lower your tax liability, and you will likely have more flexibility and autonomy. Take a listen to learn the differences to help you decide which type of role is best for you!

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 

Website / Blog: pathefiway.com

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 

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

Keywords: independent contractor , 1099 , W2 , W-2 , healthcare professional , clinician , solo 401k , LLC , physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student

Setting boundaries is a form of self-care and demonstrates to others how they can respectfully treat you. Implementing boundaries in your life has many types of benefits for your mental health and overall wellbeing. There are several steps you can take to set boundaries such as evaluating your current boundaries, start with small changes, get clarity, simplify, practice, communicate, be consistent, and reassess and make changes if needed.

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

Website / Blog: pathefiway.com 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

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

Keywords: healthy boundaries, setting boundaries, physician associate, physician assistant, physician assistant financial independence, physician associate financial independence, physician assistant finances, physician associate finances, physician assistant school, physician associate school, PA school, PA-S, PA-C, pre-PA, physician assistant student, physician associate student

It’s important that you evaluate your life and define your point of "enough" on your way to financial independence (FI) as well as what enough will look like for you once you reach FI as a physician associate.

At your point of "enough", you usually have all you need to survive and feel comfortable with a few luxuries, but this is before the point of overconsumption and extravagance. If you can recognize what "enough" looks like to you, you will likely be less stressed and more fulfilled and satisfied in life.

Resources Mentioned:

The Psychology of Money

Your Money or Your Life

I want to hear from you! Tell me all about your financial wins, your financial milestones, or which podcast episodes resonated with you, motivated you, or taught you something for this year. Reach out to me through Instagram @pathefiway, or through the Facebook group, or send me an email to [email protected] to have your story featured on the podcast at the end of 2022. Looking forward to hearing from you!

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

Website / Blog: pathefiway.com

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

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 school, physician associate school, PA school, PA-S, PA-C, pre-PA, physician assistant student, physician associate student

Although the holiday season can be The Most Wonderful Time of the Year for many, for others, it can feel like The Most Stressful Time of the Year! You are likely busy with a giant list of things that need to get done, whether it's at your workplace as a physician associate / physician assistant, or at home. Although none of us have a magic wand to make the holiday season a breeze and completely relaxing, there are some tools that you can use to help with reducing your stress during this time of year. Take a listen to learn about 10 tips to help lower your stress during the holiday season. 

Want to cozy up with a weighted blanket when practicing self-care? Check out one similar to this.

I want to hear from you! Tell me all about your financial wins, your financial milestones, or which podcast episodes resonated with you, motivated you, or taught you something for this year. Reach out to me through Instagram @pathefiway, or through the Facebook group, or send me an email to [email protected] to have your story featured on the podcast at the end of 2022. Looking forward to hearing from you!

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

Website / Blog: pathefiway.com

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

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

Keywords: holiday stress, boundaries, gratitude, self-care, physician associate, physician assistant, physician assistant financial independence, physician associate financial independence, physician assistant finances, physician associate finances, physician assistant school, physician associate school, PA school, PA-S, PA-C, pre-PA, physician assistant student, physician associate student

Practicing gratitude has so many benefits including better physical health and mental health, as well as benefits in other areas of life. Once you learn about the benefits, you’ll want to learn how to incorporate gratitude into your life. We will cover eight ways that you can practice gratitude in your life, many of which only take a few short minutes!

Resources: 

https://hubermanlab.com/the-science-of-gratitude-and-how-to-build-a-gratitude-practice/ 

https://ggsc.berkeley.edu/images/uploads/GGSC-JTF_White_Paper-Gratitude-FINAL.pdf 

https://positivepsychology.com/neuroscience-of-gratitude/

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 

Website / Blog: pathefiway.com

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 

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 school, physician associate school, PA school, PA-S, PA-C, pre-PA, physician assistant student, physician associate student

Time is life’s most precious, nonrenewable resource. Once time has passed, there is no getting that time back. Although many of us wish that time travel was a possibility at one point in our life or another, the reality is that it simply is not a tool that we can use to go back in time or go into the future.

So if we can all agree that our time is a precious commodity, why is it that we don’t treat our time with the upmost respect? Why do we waste our own time, or even worse, let others waste our time? Why is it that we don’t view our time spent with others in our lives, such as our dear family and friends, as something we should prioritize and cherish? Maybe it’s because we can’t wrap our heads around how truly fleeting our time here on earth is. Maybe it’s because we’re young, and think we have all the time in the world. Maybe it’s because we are confident that we will see our family members and friends many more times in the future. Unfortunately, these things aren’t always true.

This episode may cause some of you to feel a twinge of depression or anxiety. However, my hope is that it serves to open your eyes while motivating and encouraging you to make the choices and take the necessary actionable steps to be able to spend your time as you please throughout your life.

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 

Website / Blog: pathefiway.com

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 

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 school, physician associate school, PA school, PA-S, PA-C, pre-PA, physician assistant student, physician associate student

Do you feel like you've made several financial mistakes like spending too much, not saving or investing enough, listening to poor financial advice, etc.? You're not alone! I've been there, too.

Although I’m now on my way to financial independence as a physician assistant / physician associate, I’ve made several financial mistakes in the past. There are many lessons to be learned from these, and I hope that you are able to learn some helpful information from my story so that you can avoid some of these mistakes and take the steps needed to help set yourself up for financial success on the way to financial independence!

Resource mentioned:

Mint Mobile referral link to try Mint and get a credit: http://fbuy.me/tYeqw

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

Website / Blog: pathefiway.com

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

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

Keywords: financial mistakes, financial advisor, lifestyle creep, emergency fund, physician associate, physician assistant, physician assistant financial independence, physician associate financial independence, physician assistant finances, physician associate finances, physician assistant school, physician associate school, PA school, PA-S, PA-C, pre-PA, physician assistant student, physician associate student