Why do physicians in training fail to focus on their personal finances? Why aren’t they willing to own their mistakes, learn from them, and teach others how to avoid them?

In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Dr. Jordan Frey about his financial journey and how he went from burying his head in the sand to gaining full control over his finances.  Along the way, he created the Prudent Plastic Surgeon blog to help increase financial literacy within the profession and help his colleagues avoid the mistakes he made.  Jordan recently completed his plastic surgery residency and fellowship in microsurgery at NYU. Now, he serves as a plastic surgeon at Erie County Medical Center (ECMC).  He also created the Prudent Plastic Surgeon blog where he shares more on his financial journey. 

Topics Discussed:

Financially Clueless: It’s so easy to bury your head in the sand

Financial Well-being: Climb out of the hole and sort out your personal finances

Success: What is wealth? Financial well-being and focusing on what matters

Culture of Consumerism: You are what you buy versus what makes sense

Narcissism? Jordan got into medicine to be a better doctor, not to make money

Financial Failures: Admit to what you don’t know and learn from your mistakes

Time Constraint: Excuse or reality to find time to focus on personal finances

In Training Paychecks: Start small, avoid lifestyle creep, save rather than spend

Personal and Financial Well-being: Establish ‘why’ to make the ‘how’ easier

Lack of Financial Literacy: Physicians are easy targets for non-fiduciary advisors

Financial Metrics: Check bank accounts to stay on budget and track net worth

Financial Literacy Blind Spots: Continue financial education and take action

Links:

Jordan Frey’s Blog

Jordan Frey’s Email

Jordan Frey’s Work Profile

Jordan Frey’s Journey

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