Financial Residency

My better half, Tay, and Steve Crawford of the Advice Movement co-host this short, but impactful show weaving the tips from Aussie financial planners to our American physician colleagues. Which piece of advice resonates with you most? Ready for the book?! We are! Sign up here to be the first to know when our first book drops for pre-sale! www.financialresidency.com/book

There are tons of ways to generate passive income. Real estate is one of them. But here's the catch... it may not be as passive as you think. Here's what I have to say in response to this listener question from Greg. Oh wait - did you know our book is coming out April 2nd? Sign up here to get the scoop when it releases! www.financialresidency.com/book

Our guest, Dr. Una, who you might have heard on her podcast, EntreMD, is a big believer that if you can't deal with uncertainty, then entrepreneurship is going to be really hard. Being a business owner myself, I know the struggle is real when it comes to doing your own thing and crafting a life on your terms… well, somewhat. Check out the show with Dr. Una and me. I know you'll love it. But real quick, how in the know are you with the podcast? Be sure to subscribe to our newsletter for insights into our upcoming book! www.financialresidency.com/subscribe

New year, new you, new way of handling your finances? That's cool unless you have no clue where to start. Here are a few tips to get you smooth sailing through 2020. Wait, wait, wait... if you're here, that means you like us. Don't just stop on by for the show every week (even though we love you for it), but subscribe to be on our email list. You know you wanna: www.financialresidency.com/subscribe

The word hope sounds great, doesn't it? Even though hope is awesome to have, it doesn't drive the action behind completing a goal. Action is what we do and it's what we don't do, but happiness, fear, and the topic of this show, hope… are all feelings. Feelings, while amazing at constructing sporadic follow-through, promote a lack of focus. Ain't nobody got time for that. Katrina Ubell MD of the Weight Loss for Busy Physicians Podcast, charts the course for awareness so that we can use action (and not hope) for tapping our financial goal power! Feel a little out of the loop with Financial Residency? Let's get ya on the email list for semi-interesting updates: www.financialresidency.com/subscribe

Getting organized is like doing a work up. You can't help your patients without doing an assessment, lab work, and following up. The same goes with your finances. There is much you should do to get those in order... it begins with getting organized. Need a little help with getting your finances in tip-top shape? Sign up for an immediate download of the Getting Organized Checklist right here: https://financialresidency.com/getorganizedchecklist

The Physician Philosopher and I are diving into how to batch your personal finances so that you get the biggest bang for your buck while limiting the amount of time you need to put into it. Financial planning shouldn't be something you dread doing or something that takes you so much time that you can't enjoy life. I love today's show because of its practical tips for how to maximize your time.

This host of the amazing, award-winning Afford Anything Podcast is well known for her real estate ventures and coaching in that space, but I love the other side that we don't get to see as much of, and that is her philosophies around why we do the things we do. So excited to bring on Paula Pant. Enjoy as she helps us discover the motivations behind making solid decisions around both money and life in general. Get a behind the scenes look at the podcast by joining our email list. Sign up is easy... go here: www.financialresidency.com/subscribe

People don't necessarily like setting goals, but let's not ruin it for those who do. Do you know the difference between a SMART goal and a light, fluffy-airy thing you try to shoot for? Not really? Let's fix that, shall we? The Physician Philosopher and I define SMART goals and give you 10 examples of the ones you should be planning on achieving [at some point]. Want a fee-only financial planner? You can reach me at [email protected]! See ya.

Money apps that you could use? I'm excited to jump and talk about the tech behind making our money work for us. And who do I have to help us do that? Tom. Tom Drake is the founder and writer behind MapleMoney. He's super knowledgeable in essential apps for our finances and their amazing resources. In this show, we talk about investing apps, budgeting apps, and ways to make money on different apps. This breakdown will help your finances in one way or another. For more information, visit the show notes at https://financialresidency.com/investing-apps-for-physicians

The Physician Philosopher and I are back at it for our Wednesday "segment". We will be discussing the how and why on creating a personal finance curriculum. Since Jimmy is building this at Wake, I thought this would be more of an interview-style format where we can find out what he is doing and how you might be able to get something like this implemented at your hospital. Love the podcast? Be sure to join the community!

Sometimes life just happens. What we learn over time is that while life changes, your finances don't have to suffer. What to do? There's plenty, but Lacey Langford, blogger at The Military Money Expert, reviews 8 ways to prepare for an unexpected transition. For more information, visit the show notes at https://financialresidency.com/prepare-your-finances-for-a-transition

Have you struggled with burnout or moral injury as a physician? Have you ever considered leaving the field completely? What if I told you that the work-life balance you are looking for isn't as far away as it seems. The Physician Philosopher and I run through Partial FI. Like the show? Find the Physician Finance Community on FB to mingle with other docs who understand what it means to take personal finance personally.

"It gets better..." Remember that saying in training? While fear is based on a collection of experiences, our next guest says, it can also be an access point to bliss. Akshay Nanavati, a Marine Vet and the most interesting man in the world (in my opinion), helps us see that with the right perspective, we can drastically change our circumstances. For more information, visit the show notes at https://financialresidency.com/financial-phobia

You've heard of him from his podcast, Docs Outside the Box and have grown to love his stories over the time his podcast has been on air, especially the one about Nii and his wife (also a doc) accumulating a mountain of debt. Coming from a blue collar background, they both navigated how to go about chasing FI while rising out of the money-grave. For more information, visit the show notes at https://financialresidency.com/chasing-financial-independence

Leaving residency with $160k of student loan debt, Dr. Cathy Caroll realized that there wasn't much left over on her paycheck. After paying exorbitant taxes, childcare, and other lifestyle expenses, something had to change and fast. Enter… locums. Jump start your financial residency with these free resources!

No matter what business model, service model, or compensation model an advisor has, it creates a conflict of interest with the client. Why does this affect physicians? There are many reasons. The Physician Philosopher and I talk about what those are. Make sure to subscribe to get our free templates!

Lots of physicians prefer FIRE. But there are plenty of reasons that The Physician Philosopher and I don't. Do you know why? We give you several reasons in this show. Be sure to stay tuned with what we have going on by subscribing to get our free templates!

In his own pursuit of work/life balance, Dr. Andrew Wilner shares what it means to use Locums Tenens as a means to supplement income and have a happy life. Now having been working Locums for 40 years, he has been able to assure that he never had to face burnout again. Take control of your finances with our free financial audit checklist.

What do you think the correlation is between burnout and money? Your relationship with money might have something to do with it. Your feelings surrounding it can have a huge impact on your well being. Ryan and I believe that money can be used money as a tool. Used right, it will allow you to have financial independence. But financial independence might be different for you. Take control of your finances with our free financial audit checklist.

We walk through Coach Carson's 4 different approaches to real estate. Which of the 4 would you nerd-out on? Make sure to subscribe to get our free templates!

The idea behind the Pareto principle is that for many things 80% of the results come from 20% of the work. This is true in personal finance, too. Today's show will walk you through some of the salient points found in the book that made the all-important cut to be in the 20% you need to know! Take control of your finances with our free financial audit checklist.

We dive in to student debt repayment programs and how physicians should be able to take advantage of PSLF even in an uncertain economy. When it comes to the uncertainty of what's to come… Ben White has the scoop. Jump start your financial residency with these free resources!

When making financial decisions it can be disastrous to follow the herd. When it comes time for you to create your budget, investing, and long term financial goals, it's definitely time to choose your own path and deal with due diligence! The Physician Philosopher and I are back at it for our Wednesday "Segment". We will be discussing Herding Mentality. Take control of your finances with our free financial audit checklist.

In today's market, it might not be the easiest decision to narrow down your investment choices. You just don't know what you don't know, right? David Stein cares about making sure we're comfortable making decisions that impact your portfolio. In this show, he explains why. Take control of your finances with our free financial audit checklist.

It has been said before that "you are the average of the five people you spend the most time with." Do you choose your friends wisely? What if I told you that the relationship your friends have with money impacts your personal finance decisions, too? In this episode, we will discuss how the intersection between our friends and their finances plays a crucial role in our success with money. Make sure to subscribe to get our free templates!

We've delved into the 3 Kinder Questions on the show before. But, now, we explore something else that's pretty neat with George Kinder himself. Have you heard about the 7 Stages of Money Maturity? No? Let's help you bridge that gap. Find the companion article: https://financialresidency.com/relationship-with-money Take control of your finances with our free financial audit checklist.

What do you say? Can money really buy you happiness? There are two sides of this coin and, in order to know which side to call, you'll first want to know when/how money affects your overall perspective. The Physician Philosopher and I discuss the details here. Make sure to subscribe to get our free templates!

Keeping secrets has damaging psychological effects and aren't probably the best thing to do. In this show, we'll hear what other financial professionals think are the biggest money secrets people keep. Make sure to subscribe to get our free templates!

Have you ever focused on one investment that has lost money while ignoring your other investments? Or sold winning investments instead of the losers just so you didn't have to accept the loss? How do you behave when it comes to decision-making? Do you spend a long time thinking over every single decision? Are you sometimes afraid of making the wrong decision? Answers to the questions can help you understand the concept of loss aversion and analysis paralysis and how it influences your finances. Take control of your finances with our free financial audit checklist.

I bet you've wondered about whether you should spend vs. invest as a doctor. You wouldn't be the only one. I hear it all the time much like the listener who sent in his question about income allocation. So, for this show, let's break it down. Take control of your finances with our free financial audit checklist.

Have you ever thought about what influences your decisions? Are your choices based on your own mindset--or other factors? Let's dive into different personal finance topics and the behavioral aspect that makes them even more, well...personal! Make sure to subscribe to get our free templates!

How much do you think you should invest in to your kids' future? And, on the flip, how much should we expect private schools should cost? We know college is expensive and that many of you have questions… just like this listener who sent in his. Take control of your finances with our free financial audit checklist.

Is there a best time for a loan modification? Or a mortgage refinance, perhaps? There are several programs, new rates, and best case scenarios you should be considering. Check out this episode to learn more. Take control of your finances with our free financial audit checklist.

We discuss how to earn cash with medical surveys and as a medical expert witness. Dr. John Ramey tells us how it's done in this show. Make sure to subscribe to get our free templates!

We discuss what physicians need to know about healthcare in their retirement stages of their career. While Roger Whitney and I realize that this is a heavy topic to talk through, we know it's an important one for our FIRE loving community. Make sure to subscribe to get our free templates!

You may have heard of physician mortgage loans, but weren't quite sure how they worked - and if they would even be an option for you. Who exactly are these loans good for and how are they different compared to conventional mortgages? Find out here: https://financialresidency.com/physician-mortgage-loans To gain access to the How Much Home You Can Afford download referenced in the show, click here: https://financialresidency.com/affordhome

Knowledge and networking are just a couple of basics Robert Farrington says that anyone wanting to start their own online blog should have in their sights. While he shares his first-hand experience of trial and error, his determination to make millions from his blog came true but only after realizing what he was in for with the side gig. Make sure to subscribe to get our free templates!

Estate planning isn't usually at the forefront of anyone's mind. I get it. But, let's get real for a second. You need to think about your family and loved ones after an event of you no longer being around. You don't need all the bells and upgrades for an estate plan. You do, however, need the basics. In this solo show, I share details about estate planning at a high level. To gain access to the Estate Planning Checklist referenced in the show, click here: https://financialresidency.com/estateplanlist

Finding yourself in a bit of a financial pickle? Our guest has a truly relatable story to tell about overcoming financial mistakes. Bill Yount shares what he did to achieve FI in 3 to 5 years, even after creating a financial firestorm. Take control of your finances with our free financial audit checklist.

Frankly, it's easy to make a knee-jerk decision to quit… but when it comes down to the fear of the unknowns, you might be channeling unaddressed energy that causes you to continue down a path that might not be the best suited. The mindset shift involved in strategic quitting happens when you discover what your ideal life looks like says my guest, Dr. Lynn Marie Morski. Make sure to subscribe to get our free templates!

Being a time-sensitive subject on disability insurance, this is such an important topic for all of you. There is a lot of confusion and activity going on in the marketplace, so the updated information given to us by Larry Keller of Physician Financial Services is pure gold. Make sure to subscribe to get our free templates!

We discuss healing doctors from burnout by simplifying how they go about their day to day. Dr. Taylor Brana comes on the show to share the very methods he uses to stay ahead of the life-game, even while in residency. Jump start your financial residency with these free resources!

The numbers and letters may be a bit confusing when it comes to retirement plans. However, we cover two main things in this show to simplify things a bit. Employer sponsored plans like 401k/403b and 458 and individual Plans. Small business plans will be covered next time! Take control of your finances with our free financial audit checklist.

So many physicians are making a ton of mistakes with their finances. And those pesky student loans… the mistakes could fill a full page bleed. Join Jan Miller as he shares the best pointers for handling your debt. Jump start your financial residency with these free resources!

Mistakes are sometimes unavoidable. But when it comes to your contract, you're more than likely better off knowing where to prevent them from happening in the first place. Kyle Claussen gives a head's up on the open doors for potential mistakes. Make sure to subscribe to get our free templates!

What does patience have to do with anything money related? Everything! In this episode, Nick True says that our happiness, success, and our thought-processes revolve around our ability to be patient. However, throwing money into the mix really makes things more complicated. Take control of your finances with our free financial audit checklist.

It may be difficult to have discussions about money as it is. But it becomes even more challenging when you pair that with the people who raised you. Cameron Huddleston says that you need to have these important conversations sooner than later. Her reasons why will having you planning out your next steps. Take control of your finances with our free financial audit checklist.

Emotional intelligence quotient is the ability to be aware of your emotions as you experience them. The Inspired Dentist says that the more we're aware at the time of making choices, the better choices we make. Take control of your finances with our free financial audit checklist.

A Budget Allows Your Money Work for your Goals You've probably had an experience with a budget in the past which didn't work the way you intended. It can feel frustrating and constricting, and usually it won't last very long. But by incorporating your goals and priorities into the creation, your budget can become an essential tool in your financial management plan. Take control of your finances with our free financial audit checklist.