Finance for Physicians

What's It Like Being Married To A Doctor

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What is it like being the spouse of a physician? You get to witness their journey from being an undergrad through residency and then being in-practice. Plus, it gives you a front-row seat to financial and non-financial issues that physicians experience. 

In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Hugh Baker, a Certified Financial Planner or CFP® who is married to Kerry, a primary care physician in practice.    

Topics Discussed:

  • Passion or Pay? Most physicians become doctors as a calling/dream profession
  • Medical School and Marriage: No better time than quick break before residency
  • Financial Challenges/Stressors: Just scraping by with help from parents’ payroll
  • Transitioning into Training: Real job running a hospital as a family medicine resident
  • Counterintuitive Costs: Spent money on cleaning service to spend time together
  • Save Money, Buy Time: Not frugal, but spent money on anything time related
  • Outcomes and Priorities: Is there something you could have done differently?
  • Children: Challenging time that amplifies potential problems with relationships
  • House Poor: Not an option because of interest in splurging on vacations
  • Big Picture Money: Decision fatigue affects conversations and costs
  • What’s Important: Listen, be supportive, and align with values to avoid mistakes
  • Upbringing: What’s your relationship with money? How do you relate to money?
  • Patient Population: Constant push for physicians to do more with less
  • Flexible Fund: Cash in savings means ability to choose to not work somewhere

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    Finance for PhysiciansBy Daniel Wrenne
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