Financial Residency

Where do I go from here? As a physician have you ever asked yourself that question? Join us as I discuss this with the ONLY financial planner that works for physicians I trust! Daniel Wrenne discusses the ins and outs and what steps to take. Check out his website to learn more about him and his team! www.WrenneFinancial.com

What make, model, and year is the car you drive? Thinking about buying a new one? Why? Consider all factors to make the right, not wrong buying decision. In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks about why he drives an 18-year-old Toyota Avalon. The 2003 vehicle has heated leather seats and a 6-disc CD changer—it's still in good condition and comfortable to drive. Topics Discussed: • Car Buying: How to make a good, solid, level-headed decision • Practical Perspective: Base decision on purpose, need, safety, reliability • Mechanical Issues: Tend to trigger alternative options for an upgrade • Identity and Psychology: What drives car-buying marketing decisions? • Timeout: Do your priorities align with buying a new car? • Key Purposes: ◦ Get from Point A to Point B ◦ Comfort level ◦ Makes you look better ◦ Economic and environment friendly ◦ Consider alternatives link: www.WrenneFinancial.com

How was the U.S. economy before the war between Russia and Ukraine started? How have things changed and what will they look like in the future? Expect a ripple effect! In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how the Russian and Ukraine War will affect financial planning and economic adjustments in the United States and other countries. Topics Discussed: • 9% Inflation Rate: Changes associated with war do not play a role, yet • Work: Inflation should not be too big of a deal for those with a job/income • 8% Unemployment Rate: Extremely low—people are working, plenty of jobs • Interest Rates: Will continue to be increased to keep inflation under control • Vanguard Total Stock Market: Index fund gauge indicates modest downturn • Supply and Demand: War sanctions and restrictions result in prices increasing • Economic Seasons: Difficult to predict what's going to happen in the future • Reverse Globalization: Economic impact due to isolated sections and countries • Actions to Consider: Diversify portfolio, stay the course, take protective measures link: www.WrenneFinancial.com

Today I will tell you what is needed when applying for a mortgage! I will share some tips on what to watch out for as well as what you will need for the applying process! Link to website: https://dougcrousephysicianloans.com/

Have you heard the perks of working locums? Today, I have Danielle Cataxinos, and Kathryn Sarnoski, MD. They discuss the perks that come with working locums. They will also share what to watch out for and things you should make sure you do, so you get what you want out of locums work.

Even with your own home, have you noticed that real estate prices have been a bit hectic? How do you build wealth with real estate? Not with your primary residence. In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks about real estate as an investment outside of your primary residence. You are building wealth with your home, but it is hard to realize that wealth. Topics Discussed: • Real Estate Market Prices: Massive increases in short periods of time • Crazy Market: What are the reasons? Nobody really knows underlying causes • Supply and Demand: Low supply and high demand drives up real estate prices • Why is demand high? People still want to buy or invest in real estate • Why is supply low? Cautious builders, lumber costs, lack of skilled labor, rules • Real Estate Investing - Alternative approaches to make money: ◦ Appreciation: Own property that increases in value ◦ Rent: Own property that is rented out to others to generate income ◦ Loan: Charge interest on money loaned for real estate deals • Ways to Own Real Estate: Short- or long-term rentals, flips, multi-units, raw land • Real Estate Responsibilities: Do you want to be an investor or more involved? • Why people write/talk about real estate: Hype, interest, and money to be made • Big Benefits: Diversify, passive income, tax shelters, and better returns • Downsides: Time, dealing with people, risks, returns, complexity, and alternatives • Purpose: Why do you want to invest in real estate and build a portfolio? Links: https://www.reit.com/ https://www.vrbo.com/ https://financeforphysicians.co/

If you don't do anything or take action by following up on your financial vitals plan, it's not of any value to you. The purpose is to make progress and improve sooner by staying on track and measuring success. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about steps to move forward by planning, checking, and tracking your financial vitals. Happiness is when your values are in alignment with your actions. Topics Discussed: • Goal: Come up with a game plan based on an individual's vitals and customize it • Financial Vitals Recap: ◦ Part 1: Clarify values ◦ Part 2: Save, spend, give ratio ◦ Part 3: Net worth ◦ Part 4: Safety net check ◦ Part 5: Investment plan • Annually or As Needed: How often to check if financial vitals are in alignment • Other Financial Vitals: Consider education funding and business-related items • Key Takeaway: Create plan to take action for checking financial vitals Links: https://financeforphysicians.co/ https://financeforphysicians.co/2021/08/12/what-you-need-to-know-about-estate-planning/

Ever wonder what the difference is between a broker and a bank? I will discuss the different options brokers and banks offer. Let me tell you why I think banks have the better doctor loan for you! Check out my website where you can get a free copy of my book "Hippocratic House". You can also learn more about me and my team. Come check us out! https://dougcrousephysicianloans.com/

Have you thought about working for Locums? Do you have questions about working for Locums? There are many areas that cover about Locums and if it is something you would like to do. Tammy Crouse, MD and Nick Kusnezov, MD discuss how to start working for Locums and what to expect while working for Locums.

Do you have an investment plan in place? You may have more than one fund, such as for retirement or charitable giving. Maybe you want to save or invest money for college or a vacation home. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about having an investment plan (also known as an investment policy statement) that is organized based on a specific purpose or goal. Topics Discussed: • What is an investment plan? High-level but simple summary/outline of goal • What's the benefit of working with a financial planner vs. doing it yourself? • What are the key parts of an investment plan? ◦ Purpose and Responsibility ◦ Investment Philosophy ◦ Summary of Review Process ◦ Summary of Accounts/Asset Allocation Target Links: https://financeforphysicians.co/ https://financeforphysicians.co/2021/08/12/what-you-need-to-know-about-estate-planning/ https://financeforphysicians.co/contact/

Life doesn't always go as planned. It's full of twists, turns, and curveballs. Cover all your bases in the event of a worst-case scenario because it can come out of left field. You never see it coming or know when something could happen. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about performing a safety net check as part of your financial vitals. Topics Discussed: • What is a safety net check? Checking coverage for worst-case scenario • When to plan for unexpected, unplanned events? Now—before it's too late • What are the odds? Based on large groups of people, not individuals • What's your other financial vitals? Safety net coverage takes more than assets • Important Info: What to document/track for life, disability, other insurance policies • Who is covered (insured)? You, your spouse, children, or beneficiaries • Estate Plan: Who needs it and why? Indicates who handles and gets what • What are worst-case scenarios? Unexpected death, disability, or emergency • Is your safety net adequate? If not, increase or decrease coverage, reserves Links: https://financeforphysicians.co/ https://financeforphysicians.co/2021/08/12/what-you-need-to-know-about-estate-planning/ https://financeforphysicians.co/contact/

A house is possibly the largest purchase you'll ever make in your life, and the process is far from straightforward, especially if you're a first-time homebuyer. Even people who have owned houses before can make mistakes because they don't know the ins and outs of the industry. Armed with this book, a complete guide to everything you need to know to buy the best home for you, you'll be prepared to ask the right questions, find the right professionals to work with, and make decisions confidently using the checklists and worksheets provided. Determine whether purchasing is the best decision for you at this time Calculate how much you can afford to spend Take all necessary expenses into account Find the right kind of mortgage for your situation Hire the right Realtor Choose the right house Avoid common mistakes that cost you time, money, and stress Here is a link to the book: https://www.amazon.com/Hippocratic-House-Purchasing-First-Physician/dp/1612062407

Dealing with burnout? I would suspect most physicians have felt this at one time right now. There are so many causes that can lead to this feeling of emotional exhaustion, compassion, fatigue, decreased job satisfaction, or even depression. I think it's important that we talk about this openly. And honestly, as physicians have the highest suicide rate of any group in the United States, we will talk with three physicians who found themselves in this situation. Each of them found a different solution to help find balance in their lives. Join us as we discuss ways that have helped them deal with physician burnout.

If you have clarified your values and determined your saving, spending, giving ratio, the final financial vital to measure is your net worth. What is your net worth? What do you track with your net worth? How do you track your net worth? What can you use it for and why is it beneficial? In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how to calculate, track, and increase your net worth and decrease your debt. Topics Discussed: • Net Worth = Total Assets - Total Liabilities • Adding to assets or subtracting debt increases net worth • Negative Net Worth: Part of the medical career track for physicians • Compound Interest: Exponential growth when earning interest on your interest • Net Worth: Changes over time, track it to monitor inefficiencies and progression • Debt-to-Income Ratio: How high is your debt relative to your earning potential? • Values/Goals: Net worth should depend on your plan for what's most important Links: Monthly Net Worth Tracker Template https://financeforphysicians.co/ https://financeforphysicians.co/contact/

Financial ResidencyIn this episode, Doug discusses what adjustable rate mortgages are and if they are right for you. There is a lot to consider when deciding whether to have an Adjustable Rate Mortgage as a physician. What are the ups? What are the downs? Are they good for a long-term or short term financial outlook? These questions and more are answered in this episode.

Once you clarify your values, financial vitals are used similarly to health vitals to quickly check if you are making progress toward your goals and what's most important to live a better life. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how to measure specific financial vitals based on your values. Topics Discussed: • Save, Spend, Give Ratio: Percentage-wise, where is your money going? • True Spending: Budget is always underestimated; total spending is more realistic • Strategy: DIY vs. work with financial planners, others to calculate numbers • Key to Success: Quick financial vitals checks measured against your values Links: https://financeforphysicians.co/ https://financeforphysicians.co/contact/

In this episode, Dr. Tammy and Doug Crouse discuss the types of loans available to physicians. Physician loans are different from non-physicians loans in many ways. What are the expectations? What are the concerns? The key points of both loans are of discussed within the episode. Find out the advantages and challenges of physician loans and more!

Join me, Doug Crouse, an experienced loan originator for physicians, while I discuss inflation in today's market. I give my overview on some causes of inflation and what to prepare for.

A first time physician home buyer? You're in luck! Dr. Tammy and her husband, Doug Crouse, an experienced mortgage loan originator, discuss the ins and outs of buying a home while rates continue too rapidly increase. They'll discuss what's needed for purchasing a home and share a few tips to help you on your journey

Physicians and their patients know that vitals are measurements of the body's most important basic functions. Checking and tracking vitals indicate how your health is now and maybe in the future. Vitals are a progress check to prevent potential problems. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about checking your financial vitals. He discusses how medical vitals are similar to financial ones because they tell you how you're doing and what goals to set to improve your health and well-being.

Dr. Kathryn Sarnoski is an OBGYN and the Director of Physician Education for Contract Diagnostics. Reviewing your physician contract is one of the most important tasks of your medical career. What do you do when it's all on the line for you with one? Dr. Tammy and Dr. Sarnoski discuss what you should know when it comes time to sign!

It's been a while since you've heard Ryan's voice on the show. While he's no longer running the podcast, he introduces its new host… or should we say, "hosts"… in this new reboot. Please come get acquainted with Dr. Tammy Crouse, Doug Crouse, and Daniel Wrenne as they all gear up to share some of the most interesting (and pressing) topics related to a physician's financial future. And, then stay tuned every week to for new content! Excited for you to be here!

Eric Gantwerker, MD, MS, MMSc (MedEd), FACS is a pediatric otolaryngologist at Cohen Children's Hospital at Northwell Health/Hofstra, associate professor of otolaryngology at Zucker School of Medicine at Hofstra/Northwell, and vice president, medical director at Level Ex. Level Ex is a medical video game company that utilizes game technology and psychology to create interactive educational experiences for healthcare professionals. As the medical director, he oversees all the medical and educational functions of the company including strategy, design and development, and efficacy studies. We talk about video games, which is his favorite role-playing game and first-person shooter. OK, not really. We talk about the origin of Level-Ex, how he became a part of it, and the advantages of practicing challenging colonoscopies on your phone. Dr. Gantwerker holds a Master of Medical Science (MMSc) in medical education with a focus on educational technology, educational research, cognitive science of learning, and curriculum development from Harvard Medical School and a Master of Science in physiology and biophysics from Georgetown University. His clinical focus includes complex aerodigestive disorders, airway reconstruction, children with tracheostomies, persistent obstructive sleep apnea, and quality improvement.

Moshe Safran is the CEO of RSIP Vision U.S. He leads RSIP's business development for the United States, which represents the company's largest market. Moshe works with the company's partners to power their products and services by developing AI and computer vision modules. He also oversees customer communication and project management, while providing expert guidance in algorithm development, planning and execution of new projects. We discuss the role of artificial intelligence in healthcare, like which specialties are being the most affected, where he sees it taking us in the next decade, how they collect the data for machine learning, and how, as always, if something goes wrong, the liability falls solely on our shoulders. He is an experienced R&D leader in computer vision algorithms, from hands-on research and implementation to project management and business development. Moshe received his BS in physics and a graduate degree in computational neuroscience from the Hebrew University of Jerusalem.

Dr. John Mulder currently serves as the Executive Director for Trillium Institute, Chief Medical Consultant for Hospice and Palliative Care for Holland Home, and the Executive Director of Palliative Services for University of Michigan Health-West in Grand Rapids, MI. We talk about how he got started in palliative care, well before it was a recognized subspecialty, how the specialty has changed, and he helps to clear up some confusion about who should be referred to palliative care. We also discussed how more palliative care referrals can improve outcomes and decrease the cost of care and what systemic changes can help. Dr. Mulder has an appointment as Assistant Professor in the Department of Family Medicine at Michigan State University College of Human Medicine where he serves as the Director of the Division of Palliative Medicine, and he is currently the Director of the Mercy Health Grand Rapids Hospice and Palliative Medicine Fellowship Program.

We all have patients who frustrate us and we consider "difficult" because they don't follow the rule book for good patient behavior. You will never change their behavior but the good news is that you can actually change the way you think about difficult patients. Dr. Joan Naidorf is a board-certified emergency physician and has practiced for nearly thirty years in the busy emergency departments of Inova Alexandria Hospital and Fort Belvoir Community Hospital in Virginia. She recently published a book entitled Changing How we Think About Difficult Patients: a Guide for Physicians and Healthcare Professionals, so this is what we are discussing. We discuss ways to reframe interactions or change perspectives on patients that cause our blood pressure to elevate before we even walk in the room. Maybe it is a certain diagnosis or complaint that does this to us, or a frequent flier that never seems to get better. Dr. Naidorf gives us some techniques for grounding our thoughts and helping us empathize again. As an author and speaker, she has been sharing important ideas with students, residents and practicing physicians through various online and direct engagements. Dr. Naidorf trained at the Philadelphia College of Osteopathic Medicine and Einstein Medical Center in Philadelphia. She was recently appointed to the editorial advisory board of The DO magazine.

Melanie Heniff, MD, JD, is Chicago native and obtained her MD from Rush Medical College in Chicago before completing a combined residency program in Emergency Medicine and Pediatrics at Indiana University School of Medicine in Indianapolis. She is triple boarded in Emergency Medicine, General Pediatrics, and Pediatric Emergency Medicine. She recently obtained her JD from Indiana University Robert H. McKinney School of Law and is currently an Associate Professor of Clinical Emergency Medicine at Indiana University School of Medicine and partner in Boone County Emergency Medicine. Today's discussion is all about informed consent: how it is defined, documented and dispensed. What actually requires a signed form, what information that signed form should contain and how much information may be too much information? We then get into a conversation about capacity, competence and how to determine capacity.

I've been considering investing in real estate, but I'm not really motivated enough or interested enough to move forward. My wife and I put some money in a fund of funds, but with all of the fees, there's not much money being made. Actually, I don't think there's any yet. My wife and I were recently at a vacation destination driving distance from our home and got to thinking… could we get a vacation home here? I got to thinking… could we make money from a vacation home here? I started reading books (listening to books) and listening to podcasts and so I decided to have the queen of short-term rentals on the show to answer our questions. Isn't it more fun to look at vacation homes than apartment buildings? Avery Carl was named one of Wall Street Journal's Top 100 and Newsweek's Top 500 agents in 2020. She and her team at The Short-Term Shop focus exclusively on Vacation Rental and Short-Term Rental Clients, having closed well over 1 billion dollars in real estate sales. Avery has sold over $300 million in Short Term/Vacation Rentals since 2017. An investor herself, with a portfolio of over 100 Doors, Avery specializes in connecting investors with short term rentals with the highest ROI potential, and then training them to manage their short-term rental from their smart phone from anywhere in the world. Talk about a four-hour work week. She is author of the book Short Term Rental Long Term Wealth and host of the Short-Term Show podcast.

Omolara Thomas Uwemedimo, MD, MPH, is a business development and funding coach for women of color in healthcare and serial entrepreneur, growing 2 companies to multi-six figures in revenue in less than 18 months. During her intrapreneurial career as a pediatrician for over 15 years, researcher & professor for over a decade, she secured $2 million in grant funding and has led inter-professional teams to build and scale healthcare delivery and research programs to achieve health equity for marginalized youth and families. Her work has been defined by a passion for social justice, serving as an advocate and working as a global physician across sub-Saharan Africa, Asia, and the Caribbean. Given her expertise and success as an entrepreneur, Dr. Omolara went on to found Melanin & Medicine, a premier business development & funding coaching company to help support women of color in medicine to secure capital, without incurring debt or diluting equity, to build and grow their own healthcare businesses committed to social impact. To date, Melanin & Medicine has helped over 200 women in medicine across her workshops, courses and programs to pivot into their purpose, re-create their healthcare careers on their own terms, build social impact businesses and live more fulfilled & integrated lives. We talk about how and why she ended up here, why women of color would need to leave medicine, and how she helps physicians build a socially impactful healthcare company that can replace a physician income.

Back for her second appearance is Dr. Stephanie Sogg, a clinical psychologist from the MGH Weight Center where she has treated patients with obesity at the MGH Weight Center since 2003. One our previous episode, we discussed the importance of language when discussing someone's weight, so on this episode, we talk about when and how to bring it up. We talk about how body acceptance is actually important to sustained weight loss, although on the surface it may seem like a contradiction. We talk about the influence of sleep, mental health, and when it is time to make recommendations, what actually works. As with most things, it is complicated. Dr. Sogg earned her PhD in clinical psychology from Rutgers University in 1998 and completed a post-doctoral fellowship with Harvard Medical School. In addition to her clinical work, Dr. Sogg conducts research on obesity and bariatric surgery, and the intersection between obesity and addiction, and has published widely on obesity and related topics. She is an author of the Boston Interview for Bariatric Surgery, and of the official ASMBS Recommendations for the Pre-Surgical Psychosocial Evaluation of Bariatric Surgery Patients. She is the director of the Weight Center rotation for Behavioral Medicine psychology interns and is active in national and international scientific obesity and weight loss surgery societies.

Back for her second appearance is Dr. Stephanie Sogg, a clinical psychologist who has been at the MGH Weight Center since 2003. One our previous episode, we discussed the importance of language when discussing someone's weight, so on this episode, we talk about when and how to bring it up. We talk about how body acceptance is actually important to sustained weight loss, although on the surface it may seem like a contradiction. We talk about the influence of sleep, mental health, and when it is time to make recommendations, what actually works. As with most things, it is complicated. Dr. Sogg earned her PhD in clinical psychology from Rutgers University in 1998 and completed a post-doctoral fellowship with Harvard Medical School. In addition to her clinical work, Dr. Sogg conducts research on obesity and bariatric surgery, and the intersection between obesity and addiction, and has published widely on obesity and related topics. She is an author of the Boston Interview for Bariatric Surgery, and of the official ASMBS Recommendations for the Pre-Surgical Psychosocial Evaluation of Bariatric Surgery Patients. She is the director of the Weight Center rotation for Behavioral Medicine psychology interns and is active in national and international scientific obesity and weight loss surgery societies. boosts#toggleFormOnEscOrEnter" data-boosts-adding-class="boosts--adding" data-boosts-deleting-class="boost--deleting">

T. Marc Calvert, J.D. founded Calvert & Associates in 1996. His goal has always been to provide the highest quality of legal service to those who ask for his help. I asked for his help regarding what to say to a patient when you have a complication. Do we apologize? Not apologize? How much information do we disclose? We were introduced by Gita Pensa, an emergency medicine physician at Brown and the creator of the podcast Doctors and Litigation: The L Word. This is essential listening for all physicians. On top of settling the apology issue (kind of), Mr. Calvert says you need to exude competence and caring. We also talked about walking the patient through what happened and giving them a clear and concise plan for what you are going to do next. Since 1987, a primary focus of Mr. Calvert's practice has been health care liability defense, and over the years he has handled innumerable claims, disputed matters, and lawsuits. Mr. Calvert is board certified by the Texas Board of Legal Specialization in the field of Personal Injury Trial Law Mr. Calvert graduated with a J.D. from the University of Texas School of Law in 1987 and was admitted to the State Bar of Texas later that year. While at UT, he served as a law clerk for the Texas Employment Commission and wrote opinions for the commission appeals department. Mr. Calvert joined Edwards and Associates in August of 1987 after having completed a clerkship during the summer of 1986. The firm of Edwards & Calvert was formed when Mr. Calvert became a named partner in 1991. He became board certified by the Texas Board of Legal Specialization in the field of Personal Injury Trial Law in 1994 and has been re-certified at the indicated intervals ever since. On September 3, 1996, Calvert & Associates was established.

Provident Healthcare Partners is an healthcare specific investment banking firm whose services include mergers and acquisitions, equity and debt financing, and strategic advisory. On today's show, we have Directors AJ Shekar and Scott Davis. AJ is responsible for business development and deal execution across a range of healthcare services industries. During his tenure, he has advised dozens of companies that are considering strategic alternatives including strategic mergers and private equity recapitalizations. Scott leads transactions across a wide range of healthcare services sectors, focusing on business development, marketing, negotiation of deal terms, and due diligence efforts. This role requires Scott to be in frequent contact with the financial and strategic investor community to ensure transaction processes are positioned correctly. With the increased rate of purchase of physician practices by private equity, we discuss the why and how. Why should a younger partner consider selling? If you are considering joining a practice that might be selling, what questions should you be asking? The clear benefits are in economies of scale and better contracts from insurers, but they also point out the benefits of alternative revenue streams and being able to take advantage of value-based care. We also discuss what are the advantages of physician practices coalescing into a larger practice without PE vs. with PE. I know you'll learn a lot from this and don't worry, they've agreed to come back for a part two in the next month or two. boosts#toggleFormOnEscOrEnter" data-boosts-adding-class="boosts--adding" data-boosts-deleting-class="boost--deleting">

Deena Kishawi, MD, is a Chicago-based OBGyn resident physician who is particularly interested in health outcomes that are unique to Middle Easterners and North Africans residing in the United States. With her fluency in the Arabic language, her research with Muslim patients in healthcare, and her work with immigrant, refugee, and first-generation communities in Chicago, she is currently conducting research on these populations and is working towards training and educating healthcare providers about the unique challenges these population face. Dr. Kishawi is Muslim and wears a hijab and keeps her arms covered, so her first experience in the operating room as a medical student was challenging and led to start the blog HijabInTheOR.com her aim is to make the OR a safe and respectful place for hijab wearing healthcare providers. We discuss what her experience has been like treating patients wearing a hijab, both the good and the bad. We also discuss some of the basic tenants of Islam with which we should be familiar to best help our patients and our trainees and some issues in our healthcare system that can undermine Muslim patients and potentially impact their care.

When you are close to retirement private equity may come calling. What does a physician need to do when approached by private equity? What is there to consider? Everyone's situation is different. There are advantages and disadvantages to selling to private equity and the same when keeping a practice private. One of the major draws is that private equity tends to offer a considerable amount of income. However is it worth it? In this episode, private equity is discussed from two perspectives. Dr. Bradley Block invited two physicians who had given eloquent, concise arguments for and against selling onto the show to discuss their reasoning. It made for a very informative conversation. William R. Blythe, MD, is a General Otolaryngologist practicing at East Alabama Ear, Nose, and Throat in Auburn/Opelika, Alabama. He was the past Chief of Staff of East Alabama Health, where he served in almost every medical staff leadership position over the past 24 years. He served as President of the Alabama Society of Otolaryngology for ten years and continued in his role as Annual Meeting Coordinator. Drew Locandro, MD, is a practicing general otolaryngologist with Northwest ENT and Allergy - Marietta, Georgia. He is president of his 6-physician group with 5 office locations and an ASC. He's served as chairman of the department of surgery at Wellstar Kennestone Hospital as well as chair of the hospital quality assurance committee for several years. Today's sponsor is Locumstory. To find out more visit: https://www.doctorpodcastnetwork.com/locumstory

We make about 10,000 decisions every day! How do we know what decisions are the best ones? There are times that we may jump at the first thought because of excitement. We may think of the immediate outcome instead of the long-term outcome. Are there things we can do to ensure our process for decision-making is a good one? In this episode, Ryan and Paula Pant of Afford Anything discuss what to consider when making decisions regarding financial independence, early retirement, and more. Today's Sponsor is CompHealth. You can find out more by visiting: https://www.financialresidency.com/comphealthk

When you are close to retirement private equity may come calling. What does a physician need to do when approached by private equity? What is there to consider? Everyone's situation is different. There are advantages and disadvantages to selling to private equity and the same when keeping a practice private. One of the major draws is that private equity tends to offer a considerable amount of income. However is it worth it? In this episode, private equity is discussed from two perspectives. Dr. Bradley Block invited two physicians who had given eloquent, concise arguments for and against selling onto the show to discuss their reasoning. It made for a very informative conversation. William R. Blythe, MD, is a General Otolaryngologist practicing at East Alabama Ear, Nose, and Throat in Auburn/Opelika, Alabama. He was the past Chief of Staff of East Alabama Health, where he served in almost every medical staff leadership position over the past 24 years. He served as President of the Alabama Society of Otolaryngology for ten years and continued in his role as Annual Meeting Coordinator. Drew Locandro, MD, is a practicing general otolaryngologist with Northwest ENT and Allergy - Marietta, Georgia. He is president of his 6-physician group with 5 office locations and an ASC. He's served as chairman of the department of surgery at Wellstar Kennestone Hospital as well as chair of the hospital quality assurance committee for several years. Today's sponsor is Locumstory. To find out more visit: https://www.doctorpodcastnetwork.com/locumstory

Sometimes we set financial goals that will be great to achieve, but we do not have a good plan of how to reach that goal. The goal may be set too high or be too easy. What is the motivating factor that pushes us forward towards it? In this episode, Ryan and Jimmy discuss the art of making a good achievable goal and how to plan for working towards it. We can have an idea for a goal. Now it is time to get down into the details of getting to the finish line! Today's Sponsor is Comp Health. Find out more by visiting: https://www.financialresidency.com/comphealth

Navin Goyal, M.D. is a physician and entrepreneur who serves as CEO of LOUD Capital, early-stage venture capital and alternative investment firm leveraging capital, entrepreneurship, and education to grow impactful companies across the globe. Navin strives to make venture capital more purpose-driven, inclusive, and impactful. The beginning of his entrepreneurial journey was co-founding OFFOR Health (formerly SmileMD), a venture-backed mobile healthcare company that expands access to care across the United States with a dedicated focus on lower-income and rural communities. His story, his experience, and what he sees as an opportunity for physicians to have a broader impact on themselves and society is the focus of his book, Physician Underdog. Dr. Bradley Block and Dr, Goyal discuss his journey from the OR to the board room, how the grass is greener after leaving medicine, why they need to start before they're stagnating or burnt out. Venture capital is not as risky as perceived! Once you know the ins and outs, it can lead to some great opportunities for income. Today's Sponsor is Locumstory. To find out more visit: https://www.financialresidency.com/locumstory

Working towards financial freedom as a physician has quite a few moving parts. Where do you need to invest? What do you do when you pay off student loans? What are things to think about as you look at your financial future? There needs to be a balance to reap the benefits of financial freedom. Understanding the long-term mindset and generating enough cash flow to reach the point of financial freedom. In this episode, we talk to Scott Trench about the ins and outs of financial independence. Today's Sponsor is Comp Health. Find out more by visiting: https://www.financialresidency.com/comphealth

Lawyers often need some additional help from an expert in a specific field. Medical expert witnesses are often used to prove an argument by the prosecution or defense. Common misconceptions among physicians may prevent them from becoming one. While consulting for personal injury and medical malpractice firms in the Boston area, Dr. Amy G. Fogelman noticed a void in the consulting field, which her consulting firm, MED LAW, seeks to fill. Dr. Bradley Block and Dr. Fogelman discuss common misconceptions, how to get started, the best approach to avoid mistakes, the compensation, and why specializing in only doing defense work can be detrimental. Today's Sponsor is Locumstory. Find your next Locums assignment here: www.financialresidency.com/locumstory

It's that time! You are ready to buy or sell a house. It can be your first house or moving into a new home after selling your previous one. Do you need a real estate agent? How do you find a good one? Do they understand your situation? You are about to make a major decision that can affect you for years. As a physician, there are things to consider because of the profession. Avoiding mistakes such as buying a house that you cannot afford can be crucial to your financial future. In this episode, we talk with John Ramey, a real estate agent that is an expert at helping physicians. We discuss all of the questions and tips about what makes a great real estate agent for a physician. Today's sponsor is CompHealth. To find out more visit: https://www.financialresidency.com/comphealth

Most people have heard of a placebo but what about a nocebo? What are the ways to use nocebo in both a patient-doctor relationship? We talk about the placebo effect and its evil twin, the nocebo effect. A physician can enter dicey ethical territory that comes with recommending an intervention that you know only works if the placebo effect occurs. What is the correct approach for using either? Today's Sponsor is Locumstory. For more information visit: www.financialresidency.com/locumstory

Student loan debt can pile up quickly! Once you graduate you may have a student loan mountain to take down. That is what happened to Dr. Cathy Carroll. She ended up with $160,000 in student loan debt. What she was bringing in was barely enough to cover all her expenses! Something had to change! She started working for Locums and it has helped her pay them down. In this episode, Dr. Carroll discusses her journey with student loans and how working for Locums has helped her. Today's Sponsor is CompHealth. Just head to financialresidency.com/comphealth and see what locums can do for you financially.

Carmen Brown, MD, is an author, blogger, practicing OB-GYN, and managing partner and founder of ExpatMD. She currently resides in Melbourne, Australia with her husband and young son. Dr. Bradley Block and Dr. Brown talk about how she ended up practicing down-under, how to make it happen, what some of the differences about practicing down there and focused a bit on the practice of OB-GYN. She dispelled some myths about limitations to practicing abroad and we discussed a little about what it's like being a black woman in Australia. She also published 'ExpatMD: Your Guide to Living and Working in Australia and New Zealand as a Physician.' She also writes a blog about life as a doctor mom with a child with Autism at www.autismdrmom.blogspot.com You can follow her on LinkedIn or Instagram @ExpatMD or on Twitter @DoctorCarmenB or @AutismDrMom Today's Sponsor is LocumStory. To find out more visit: Locumstory.com

As a certified life coach, Kate Mangona, M.D. enthusiastically hosts the Medicine, Marriage & Money Podcast where she helps married women physicians with children spend less time arguing with their spouse and more time reigniting the sparks once felt during their honeymoon. Fun, right? We think so! In this episode, Dr. Bradley Block and Dr. Kate Mangona address the non-financial challenges that are specific to being in a dual-physician couple. They talk about student loan debt x2, talking to your spouse about money, a personal path to real estate investing, and handling 3 kids under 4. Enjoy!! Looking for your next locum tenens assignment? Go to www.financialresidency.com/locumstory to learn more!

Working locum tenens assignments has its advantages— one of them, being able to afford your dream home. Our next guest, Doug Crouse, Mortgage Loan Officer at UMB Bank, talks about his experience helping physicians working locums get ready as they embark on the physician mortgage journey! Today's sponsor is Locumstory. To find out more visit https://www.financialresidency.com/locumstory to find out more.

Dr. Bradley Block of The Physician's Guide to Doctoring has got something special for our audience up his sleeve! Join us every Friday for a new show and new sound on our podcast for the month of November! Let's begin episode 2 of 5! After experiencing paralyzing burnout as a newly-minted primary care physician, Dr. Diane Shannon made the hard decision to leave practice and pursue a career in writing. Her focus for 20 years has been drawing attention to ways to address clinician burnout, system inefficiency, and patient safety problems. She is co-author of Preventing Physician Burnout: Curing the Chaos and Returning Joy to the Practice of Medicine, which was published in 2016. Her personal experience with burnout and her desire to support clinicians motivated her to become a certified coach three years ago. She now helps clinicians gain clarity on their goals, increase their bandwidth, overcome barriers, and improve their professional and personal lives. Today's sponsor is LocumStory. For more locum tenens information, www.financialresidency.com/locumstory is your final destination.

Ever thought about working for Locums? What is it like? Today you will hear the ins and out of working Locums! It's a panel discussion with four experts. Learn about when to start, what to expect, what to look out for, and more. Ryan, Joan, Rip, and Nick answer listener questions. All of them use Locumstory for their Locums assignments. Ryan, Joan, Rip, and Nick give their insight from different perspectives on their experiences working with Locums. Today's sponsor is LocumStory. For more locum tenens information, www.financialresidency.com/locumstory is your final destination.

Dr. Bradley Block of The Physician's Guide to Doctoring has got something special for our audience up his sleeve! Join us every Friday for a new show and new sound on our podcast for the month of November! Let's begin episode 1 of 5! Talya Miron-Shatz, PhD, is a leader in research at the intersection of medicine and behavioral economics. She is CEO of CureMyWay, an international health consulting firm whose clients include Johnson & Johnson, Pfizer, and Samsung. She wrote the book Your Life Depends on It: What You Can Do to Make Better Choices About Your Health. She wrote it for patients and clinicians alike. We discuss how patients are frequently overwhelmed with the information we give them. How to give it to them in a more digestible way, while still being time efficient, how we can tell if they are understanding us and how to tell if they don't plan on following our recommendations. She also teaches us how to increase the chances that a patient will choose us as their doctor. Find her at www.talyamironshatz.com Today's Sponsor is Locumstory. To find out more visit: www.financialresidency.com/locumstory