Physician Cents

What does it take to pave the way for the next generation while navigating the scars of being first? When we sat down with Steve Sample, an emergency medicine physician, we were struck by his mix of gratitude, hard-earned wisdom, and tough decisions.

From his untraditional path into medicine—starting as a young father with dreams of becoming Garth Brooks—to now supporting his daughter through medical school, Steve offered a candid look at the challenges and triumphs of being a first-generation doctor building generational wealth.

We explored the financial and emotional realities of supporting a child through one of the most expensive educational journeys out there. Together, we unpacked big questions: How do you balance a child's dreams against daunting debt? What financial lessons can you pass along while helping them build independence? And how do families create equity among siblings while setting the next generation up for success?

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• (00:00) How physicians manage family finances while building generational wealth
• (00:34) Steve Sample's journey from aspiring musician to emergency medicine doctor
• (02:15) Lessons from a nontraditional path to medicine and early financial struggles
• (06:00) Supporting kids through medical school without sacrificing independence
• (16:30) Preparing for fourth-year med school costs and residency transitions
• (27:00) Smart strategies for retirement savings and long-term wealth building
• (33:40) Balancing career demands with family life and personal health

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

• Air Force Health Professions Scholarship Program (HPSP) fact sheet
• Public Service Loan Forgiveness (PSLF)

• Steve Sample on LinkedIn

In the last couple of episodes, we've started to scratch the surface when it comes to the importance of disability insurance.

Navigating the world of disability insurance as a physician can be complex, especially when it comes to understanding how medical conditions impact coverage eligibility.

In this episode of Physician Cents, Larry Keller breaks down the most common medical issues that lead to disqualification or exclusion from coverage—and what you can do to protect yourself.

From understanding Guaranteed Standard Issue (GSI) plans to spotting red flags with agents, Larry shares invaluable insights to help you make informed decisions. Tune in to learn why this foundational aspect of financial planning is critical to getting right the first time.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• (0:00) Introducing Larry Keller of Physician Financial Services
• (5:38) Common medical issues that will disqualify you from coverage
• (16:05) The two types of GSI plans available on the market
• (18:07) Some myths circulating about guaranteed standard issue offers
• (22:34) Red flags to watch out for with GSI agents
• (27:00) Why doesn't every program offer a GSI?
• (28:42) How to determine if you shouldn't get a GSI
• (41:39) How to find a trusted insurance agent
• (48:05) How disability insurance protects your future

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

• Why Every Physician Needs Disability Insurance with Michael Relvas, CFP®, Ep #18
• Exploring Financial New Year's Resolutions with The White Coat Investor, Ep #20

• Physician Financial Services
• Connect on LinkedIn

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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Is your financial house in order for 2025? In this special episode of Physician Cents, we're joined by Jim Dahle, the one and only "White Coat Investor," to help you tackle the financial "resolutions" every physician should embrace. From crafting a rock-solid financial plan to protecting your health and wealth, this conversation is packed with actionable advice to start the year strong.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• Get a financial plan in place [1:55]
• Get educated about debt [4:32]
• Invest in date nights [7:01]
• Get disability insurance [8:33]
• Spend money on something that makes you feel alive [17:51]
• Protect your health alongside your wealth [22:57]
• Be intentional with your portfolio design [25:22]
• Get a values-based system in place [30:25]
• Learn about the Physician Wellness & Financial Literacy Conference [33:22]

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

• The Physician Wellness & Financial Literacy Conference

• The White Coat Investor
• Connect on LinkedIn

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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Debt is a reality that most medical professionals face, with 78% of graduating medical students carrying substantial loans. It's not the easiest topic to discuss, but it's a critical one. For most, debt is a significant piece of the financial puzzle—and knowing how to manage it effectively can shape your future.

In this episode, Jenny Twomey—the Community Communications Lead at Earnest—joins us to break down loan repayment and refinancing. We'll explore the pros and cons of refinancing, how to evaluate your loan options, and the key factors to consider when making these decisions. Whether you're just starting out or looking to take control of your financial future, this conversation is packed with insights you can use right away.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• Navigating repaying private student loans [2:14]
• What is debt? How does it work? [8:09]
• Who shouldn't consider refinancing? [11:56]
• Who should consider refinancing? [17:45]
• Learn more about refinancing options with Earnest [24:51]

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

• Earnest.com

• Connect on LinkedIn

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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As a physician, your income is your most valuable asset—but what happens if you're unable to work due to illness or injury? Disability insurance is critical to protecting the investment you've made in your education and career. It ensures financial stability in the face of unforeseen challenges, whether it's a car accident or a cancer diagnosis.

While premiums can be costly, especially during residency, starting with even a small policy is far better than having no coverage at all. In this episode of Physician Cents, Michael Relvas, CFP® joins us to explore the importance of disability insurance.

He covers key considerations like level versus graded premiums, and why group coverage alone often falls short. Learn how to safeguard your future against the unexpected, because your financial well-being depends on it.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• [1:46] Why does every physician need disability insurance?
• [8:18] Choosing a lower amount versus a graded premium
• [10:53] Understanding level versus graded premiums
• [16:56] Is group disability insurance coverage enough?
• [22:16] Why you need to know the policy language
• [27:48] Anecdotal evidence: Why disability insurance is necessary
• [33:34] Take this decision process seriously

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

This podcast is for informational purposes only. Physician Cents is not affiliated with or endorsed by PAS, Guardian, or M.R. Insurance Consultants and opinions stated are their own.

Michael is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 9200 CORPORATE BLVD, SUITE 390, ROCKVILLE MD, 20850, 240-683-9700. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. M.R. Insurance Consultants is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License #0G91249, AR Insurance License #8913976. 2024-179887 Exp 8/26

• Connect with Michael on LinkedIn
• MR Insurance Consultants

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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If you have a family member whose expenses you plan to cover every month, how do you go about it? This listener wants to give a parent a few thousand dollars a month to help them cover expenses and have spending money.

Many physicians are the highest income earners in their families. They often try to support their loved ones. How do you do this responsibly? How do you give generously without hurting yourself or the ones you're trying to help?

We'll help you find the right answer for yourself—using a values-based approach—in this episode of Physician Cents.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• Should you financially support a loved one? [2:38]
• Step #1: Create your own financial plan [7:11]
• Step #2: Consider the ramifications of gifting [13:56]
• Step #3: Talk to your loved ones about their finances [16:34]
• Step #4: Determine the best way to give [22:25]

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

• Gusto
• Zelle
• Apple Cash

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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Most physicians aren't planning ahead for their finances during their training and residency—they're surviving. Many assume that once they're a full-fledged doctor, any financial issues will be resolved. You may be thinking about marriage, kids, or buying a home. But financial decisions aren't typically top-of-mind.

So in this episode of Physician Cents, we'll cover some of the basic things newly minted physicians need to think about with special guest Dr. Kaveh Hoda.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• Dr. Hoda's biggest concerns during training [2:24]
• Why physicians shouldn't hastily buy a home [4:56]
• Safe ways to save your money [10:53]
• A conversation about 529 plans [15:20]
• Starting a private practice: S Corp versus LLC [21:23]
• Is Locum Tenens work becoming more common? [31:53]
• Check out Dr. Hoda's podcast! [36:53]

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

• Corporate Dissolution or Liquidation: Form 966

• Check out Dr. Hoda's podcast: House of Pod

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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We are often asked whether or not physicians should buy or lease a vehicle. While doctors are stereotyped for having expensive and flashy vehicles, we all want to make wise financial decisions when it comes to choosing a vehicle.

People often spout that leasing a vehicle is just throwing money away. But is it? It can be argued that there is a time and place for leasing a vehicle over buying. We dive into the different nuances of buying vs leasing in this episode of Physician Cents.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• [3:00] Buying a car is a values-based conversation
• [4:53] What do you value in a car?
• [12:33] It's not about keeping up with the Joneses
• [14:22] Is leasing a bad idea?
• [18:08] Bonus of leasing: You don't handle repair costs

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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What are some important things to consider the year you leave your residency and enter your first attending job? Transitions, no matter what they are, are typically accompanied by financial considerations. But there are many things that new physicians have to consider, from bonuses and contract negotiations to tail insurance and benefits packages. We tackle a few need-to-know topics in this episode of Physician Cents.

Disclaimer: We are not attorneys and this is not legal advice. Please consult an attorney for all matters pertaining to contract negotiations.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• Your first contact is your most important contract [3:17]
• What bonus structure are you being offered? [8:01]
• Get sufficient tail insurance coverage [17:21]
• Don't neglect your total benefit package [20:43]
• Intellectual property, call responsibility, and other minute details [22:56]
• A final note about Roth IRA contributions [27:38]

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

• New Attendings: Let's Tackle Debt, Emergencies, and Taking Vacations, Ep #6
• New Attendings: Let's Navigate Risk Management, Estate Planning, and Investing, Ep #7

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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As a woman in medicine, you've been in medical training, residency, and fellowship for years. You have to come up with the mental space and courage to ask for help with student debt or saving for retirement. You may have randomly looked for someone to work with—and found yourself often disappointed.

In this episode, Meg Bartelt, CFP®, RICP®, MS—the owner of "FLOW Financial Planning"—shares a few ways you can simplify the process to find the best financial planner for you.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• Meg's background in financial planning [1:45]
• Finding a financial planner to work with [4:03]
• How to vet a financial planner [7:02]
• What should women ask differently? [10:38]
• Financial advisors: how to better serve women [14:17]
• What if your spouse is in a different field? [19:01]

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

• FLOW Financial Planning
• Meg's blog
• Connect on LinkedIn
• Follow on Twitter

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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