Wealth Minded MD

Retirement planning can feel overwhelming, but no matter your age, taking consistent steps toward saving is key to long-term financial security. In this episode, we dive into the essential retirement savings benchmarks for physicians at each decade of life—from the 30s to the 60s. Discover the importance of early investment, maximizing employer retirement benefits, strategies for managing debt, and the need to adjust your financial approach as you near retirement. There's no one-size-fits-all number, but setting clear, personalized goals is crucial. Tune in to learn smart strategies for defining your retirement goals, organizing your savings, and prioritizing what matters most.

[00:07:47] Saving for Retirement in Your 30s: Getting Started

[00:15:45] Retirement Savings Goals for Your 40s: Hitting Your Stride

[00:25:15] Financial Planning in Your 50s: Approaching Retirement

[00:27:47] Contemplating Early Retirement

[00:30:34] Financial Benchmarks for Your 60s: Solidify your retirement plans

[00:33:10] Navigating Healthcare Costs, Pensions, and Retirement Accounts

[00:41:22] Financial Planning for Married Couples

[00:44:07] Lisha's Cookie Cravings and Brittne's Holiday Travels

We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!

🎉This episode is sponsored by PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing [email protected].

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!

With car prices and insurance rates climbing higher than ever, navigating these costs can feel daunting. In this episode, we’ll dive into the financial commitment of car ownership and explore options that can help you save money. We discuss the current economic climate and its impact on car prices and insurance premiums. Learn about the pros and cons of leasing versus financing a car, the benefits of buying slightly used cars, why car insurance rates are increasing, and how to shop for better deals. Tune in for actionable insights that will equip you to make savvy financial choices and maximize your car ownership experience!

[00:05:46] Airline Ticket Woes and Confessions of an Amazon Shopaholic

[00:17:50] Understanding the Rising Costs of Cars and Insurance

[00:25:03] Buying vs. Leasing a Car: Pros and Cons Explained

[00:26:28] The Economics of Car Ownership

[00:33:08] Effective Negotiation Tips for Car Buyers

[00:36:11] Exploring the Factors of Rising Car Insurance Costs

[00:39:09] Discussing Dream Cars: What’s on Your Wishlist?

[00:43:24] Brittne’s Self-care at the Nail Salon while Lisha Explores Non-Alcoholic Wine

We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!

🎉This episode is sponsored by Cerebral Tax Advisors - Simplifying tax planning with strategic, proactive solutions. Reach out to Cerebral Tax Advisors to learn how their expert approach can help you save time and reduce your tax bill by calling +1 865-281-1461 or emailing [email protected].

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Starter Kit.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!

Refinancing your home can be a smart financial strategy—but only if you time it right. In this episode, we explore the pros and cons of refinancing, from lowering interest rates and monthly payments to unlocking your home’s equity. We also break down the hidden costs, like closing fees and reserve requirements, and discuss when refinancing might not be in your best interest. Don’t make a decision without knowing all the details. Tune in for practical advice on making informed refinancing choices and avoid costly mistakes!

[00:03:03] Life updates as a Sports Doc managing research and collegiate athletes

[00:07:31] Refinancing Process and Considerations

[00:18:02] How to Shop for the Best Mortgage Refinancing Deals

[00:28:44] Understanding Lender Processes

[00:30:02] Challenges in Home Buying and Refinancing

[00:34:22] Deciding When to Buy a Home: Timing Is Key

[00:37:34] Cash-Out Refinancing Explained

[00:42:11] Who Should Avoid Refinancing?

[00:45:53] Fun Money: Turning Date Nights into Tax Deductions

We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!

🎉This episode is sponsored by Cerebral Tax Advisors - Simplifying tax planning with strategic, proactive solutions. Reach out to Cerebral Tax Advisors to learn how their expert approach can help you save time and reduce your tax bill by calling +1 865-281-1461 or emailing [email protected].

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Starter Kit.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!

Take charge of your finances and navigate today’s economic challenges with confidence. In this episode, we dive into the complexities of the current economic landscape, from stock market shifts and rising interest rates to savvy student loan management. Learn about loan forgiveness programs and strategies to optimize your student loan repayment. Plus, get insights into refinancing mortgages amid fluctuating rates and key considerations before making your next move!

[00:03:12] Brittne balances daughter's kindergarten readiness and maintaining fun in learning

[00:12:33] Navigating Student Loans and Forbearance

[00:19:40] Healthcare Hustle: Loan Forgiveness Programs

[00:24:11] Mortgage Rates, Market Predictions and Home Buying Decisions

[00:27:37] Understanding Refinancing Costs and Timing

[00:35:53] Investment Strategies Amid Economic Changes

[00:38:40] Brittne's Mommy Queen Day and Lisha's Rose Gold Jewelry Splurges

We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!

🎉This episode is sponsored by Cerebral Tax Advisors - Simplifying tax planning with strategic, proactive solutions. Reach out to Cerebral Tax Advisors to learn how their expert approach can help you save time and reduce your tax bill by calling +1 865-281-1461 or emailing [email protected].

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Starter Kit.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!

Secure your legacy and protect your loved ones with a solid estate plan. In this episode, we break down the essentials of estate planning, from wills, trusts, and healthcare directives to organizing important documents and making critical decisions. Discover why having open conversations about end-of-life wishes is crucial and how the right legal support can help you avoid costly mistakes. Don’t leave your future to chance and create a plan that truly protects what matters most!

[00:02:57] Brittne deals with a costly hot water heater repair mistake

[00:11:43] Lisha balances speaking engagements and personal life

[00:18:01] Why Estate Planning is essential

[00:30:57] Navigating healthcare directives and end-of-life decisions

[00:33:10] Understanding Estate Planning and managing family dynamics

[00:35:18] Key components of Estate Planning: Wills, Trusts, and Power of Attorney

[00:36:41] How to organize important documents for effective Estate Planning

[00:45:24] Considering Trusts and Financial Planning

[00:49:02] Maximizing employer benefits in your Estate Planning strategy

[00:50:06] Swedish massage gift card finds and wine splurges

We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!

🎉This episode is sponsored by Cerebral Tax Advisors - Simplifying tax planning with strategic, proactive solutions. Reach out to Cerebral Tax Advisors to learn how their expert approach can help you save time and reduce your tax bill by calling +1 865-281-1461 or emailing [email protected].

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Starter Kit.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!

Discover how to protect yourself and your career as a physician from potential lawsuits with the right insurance. In this episode, we break down the essential aspects of malpractice insurance, explore the differences between occurrence and claims-made policies, and discuss the significance of securing umbrella insurance for additional protection beyond the workplace. Gain valuable insights into the costs of tail insurance across specialties, understand the nuances of various insurance policies, and ensure you’re comprehensively covered both professionally and personally.

[00:02:41] Lisha’s Paris trip highlights

[00:07:00] Lisha’s spending spree on designer purse, souvenirs and fine dining

[00:19:58] Understanding Malpractice Insurance

[00:25:15] What you need to know about Prior Acts Coverage

[00:26:13] Cost of Tail Insurance across specialties

[00:28:06] The importance of Error Disclosure

[00:30:18] Effective documentation strategies for Healthcare Professionals

[00:35:31] Navigating Malpractice Insurance Policies

[00:37:24] The Role of Umbrella Insurance in protecting your assets

[00:39:09] Personal experiences with Umbrella Insurance

[00:49:00] Brittne’s upcoming family photo shoot

We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!

🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing [email protected].

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Starter Kit.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!

Getting a prenuptial agreement might seem daunting, but it could be the smartest move to protect your assets and manage finances in marriage. In this episode, we dive into the ins and outs of prenuptial agreements—from debunking common myths and exploring postnups to discussing why people opt for prenups and the implications of not having one. You’ll also learn how to maintain your financial identity in marriage. Don’t miss this discussion that might have you rethinking your approach to marriage and money, helping you make informed decisions about safeguarding your financial future.

[00:04:35] The importance of prenups for physicians

[00:05:34] Personal experiences and perspectives on prenups

[00:07:00] Defining Prenuptial Agreements

[00:12:14] Prenups vs. Postnups: Exploring options

[00:15:20] Business considerations in prenuptial agreements

[00:20:10] Legal advice and financial identity in marriage

[00:24:02] Myths and misconceptions about prenups

[00:26:13] The importance of financial conversations with your partner

[00:28:44] Legal aspects and amendments of prenups

[00:32:09] Prenups as financial insurance

[00:40:06] Navigating elite social clubs and financial priorities

We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!

🎉This episode is sponsored by PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing [email protected].

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Starter Kit.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!

Choosing the right type of life insurance can be confusing, but it's crucial for securing your financial future. In this episode, discover how to safeguard your income with the right coverage, explore the pros and cons of term vs. whole life insurance, and learn the art of laddering policies to optimize your protection.

Joining us is Pradeep Audho from PKA Insurance Group, who shares his valuable insights on finding the best options for you. From evaluating your insurance needs to understanding policy costs and illustrations, tune in and transform your approach to life insurance into a powerful tool for financial security!

[00:02:40] Lisha shares happy news with the birth of the new nephew

[00:08:16] Brittne faces homeownership challenges with a broken hot water system

[00:15:28] Understanding Life Insurance Needs

[00:18:38] Term vs. Whole Life Insurance

[00:24:46] Evaluating Whole Life Insurance Policies 

[00:26:10] Understanding In-Force Illustrations

[00:28:51] Cost of Term Life Insurance for Physicians

[00:30:08] Personal Life Insurance Consultations

[00:34:58] Laddering Life Insurance Policies

[00:38:35] Paris 2024 Olympics bucket list adventure, and a family trip to New Hampshire

We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!

🎉This episode is sponsored by PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing [email protected].

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Starter Kit.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!

Discover how to create a financial buffer that keeps you prepared for life's uncertainties. In this episode, we explore the pros and cons of building an emergency fund and share how we’ve set up our own. Learn the ins and outs of creating your financial safety net. From determining the right amount you need, understanding the opportunity cost of maintaining an emergency fund, to balancing savings with debt repayment and customizing your approach to fit your needs. Tune in for expert advice and practical tips to safeguard your finances while still enjoying life’s pleasures!

[00:06:01] Brittne's bank blunder: When 'no deposit needed' turned into unexpected fees

[00:09:15] Lisha's $50 foreign transaction fee for using the wrong credit card

[00:13:24] Understanding the pros and cons of emergency funds

[00:24:01] Effective steps and strategies for building your emergency fund

[00:24:42] How to determine the right amount for your emergency fund

[00:25:50] Balancing emergency savings with debt repayment

[00:28:38] Understanding the opportunity cost of keeping an emergency fund

[00:30:02] Managing credit card debt while building your emergency fund

[00:39:24] Splurging on a lakehouse getaway and the quest for michelin-star dining in Paris

We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!

🎉This episode is sponsored by PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing [email protected].

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Starter Kit.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!

Discover how to future-proof your life and your finances with disability insurance! In this episode, we cover the benefits of choosing independent insurance agents, the nuances of guaranteed standard issue (GSI) policies, and the importance of true own-occupation disability insurance. Learn how to manage employer vs. independent policies, navigate state-specific differences, and get practical advice from real-life claims to ensure you have the best coverage.

Joining us is Pradeep Audho from PKA Insurance Group, who shares his expert insights on safeguarding your financial future. Don’t miss this opportunity to protect your career and secure your financial stability for the long haul!

[00:02:39] Brittne’s overwhelmed by home transition while Lisha juggles a busy travel schedule

[00:05:26] Lisha's quest to cut food costs and Brittne’s meal prep tips

[00:13:04] One key way to protect yourself with disability insurance

[00:16:24] Why you should pay attention to fees in insurance policies

[00:20:46] The benefits of going to independent insurance agent

[00:24:35] The gender gap and unisex rates in disability insurance

[00:28:31] Real-life examples of disability insurance claims

[00:30:08] Navigating Employer vs.Independent Disability Policies

[00:35:55] Understanding state differences and discounts

[00:42:54] The Importance of Guaranteed Standard Issue (GSI) Disability Policy

[00:52:45] Why you and your partner need individual disability insurance policies

[00:56:29] Conference Prep, Dinner with Friends, and the Paris 2024 Olympics

We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!

🎉This episode is sponsored by PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing [email protected].

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Starter Kit.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!