Financial Residency

How can you achieve Fast Fire with real estate? We are here to answer exactly that. Semi-Retired MD has cultivated a growing community of both real estate professionals and physicians who want to learn how to achieve financial freedom. The big difference here is that they want to do it really fast. Make sure to subscribe to get our free templates!

Bethany Bayless' life is "fun on a budget," she shares her tips and tricks for frugal travel. She tells us how to plan ahead in order to get where we want to go with zero debt! Make sure to subscribe to get our free templates!

Imagine having to update the entire electrical system in a house without any experience! That is one of the many things that Dustin Heiner had to face on his journey from novice to pro! He tells us how he jumped into the business of investing in single family real estate without any prior experience or knowledge. He became a single family real estate investor in the school of hard-knock learning. Make sure to subscribe to get our free templates!

There is a lot to know about building our credit, but it's not a topic that is rarely talked about or taught. In this episode, Doug Crouse talks to us about our report card--I mean credit report. We will talk about everything from your credit score to credit repair. You don't want to miss it. Take control of your finances with our free financial audit checklist.

You go to medical school, and come out buried in student debt. You ask yourself: How will I ever achieve a life of financial freedom? Rebecca Maurer knows first hand all about student debt! We talk about getting on the right path to conquering your student loans and we discuss the growing controversy regarding the economic impact that surrounds them--and us. Jump start your financial residency with these free resources!

It's hard to arm yourself for financial freedom when you are a busy, new doctor. Amy Wan gives you the tools to protect and grow your assets in this episode. Our financial challenge from her is to tie together Blockchain, Bitcoin, and examine the world of cryptocurrency. Take control of your finances with our free financial audit checklist.

In this episode, the Frugal Physician sets the record straight about being frugal. Frugal is cool and you can be cool, too. Keep a tally right along with Ryan to find out if you've ever been a cheapskate! Take control of your finances with our free financial audit checklist.

Imagine your dream life by realizing two goals: financial independence and retiring early. In this episode, Doctor Money Matters AKA Dr. Tarang Patel and I are going to give you a special treat with a joint show. It will be interesting being in the role of interviewer and interviewee while we discuss our favorite topics! Make sure to subscribe to get our free templates!

Ken and Regina have a universal life policy, but it's not a great idea. While Regina is in training as an OBGYN resident, she needs something quite different like disability. As far as estate planning, car payments, and cash flow, Ryan and Kayse talk about why it's important for them to take action sooner than later. Jump start your financial residency with these free resources!

It's April Fools Day and that means that today is special. So special that we can't even tell you who the guest is. But what we can tell you is this… it's got a lot of humor around the 10 funny financial insights I wish were fiction than fact. Make sure to subscribe to get our free templates!

Imagine being free from the stress and worry of consumer debt. Now imagine all the money spent in making credit card payments is going toward building your wealth. Marcus Garrett talks to us about eradicating your consumer debt, so you can begin to build wealth and plan the life you truly want to live. Take control of your finances with our free financial audit checklist.

Working with the snowball notion of concentrating on paying off smallest debts first, then applying the same principle to other debt, the concept is incredibly important to unshackle the debt cuffs. Dr. Cory Fawcett enjoys guiding healthcare professionals toward living healthy and debt-free lives by teaching them personal finance techniques. How can you improve your mindset when paying down debt? Take control of your finances with our free financial audit checklist.

What the heck is an investment club? Plainly, it's a group or a club who learns about stock investing together and invests in the same fashion. Not really a fan of them myself, I bring Dr. John Jurica to go back and forth with me about how physicians can learn, make some money and have some fun (?) with them. Check out the debate between he and I in this episode. Make sure to subscribe to get our free templates!

Imagine having an opportunity to invest in gold and silver. Now imagine not really knowing the purpose or motivation behind the investment. Peter Hug talks to us about the psychology and perceived reasoning for building a successful portfolio. Interested in making the investment? Learn more about it here. Make sure to subscribe to get our free templates!

To share some about the background and behavioral aspects of FI that physicians struggle with, Doc G is here to talk about how to overcome the force of debilitative thinking and fear of the unknown. This is a super interesting episode, so be sure to tune in. Take control of your finances with our free financial audit checklist.

We talk a lot about budgeting and cash flow management on the show, but we don't really delve into the specifics of where physicians can save money. Joel Laarsgard joins me to talk about the money saving hacks most physicians really aren't aware of. Spend less, save more? Heck yes. Tune in to find out where you can join in on this money fun. Make sure to subscribe to get our free templates!

Impulse spending, credit card debt and credit card fraud? Ut oh. Jennifer McDermott is fantastically insightful about the triggers that cause you to overspend and we had her on the show to spill. How does impulse spending completely turn a normal financial state into a chaotic one? Find out in this show. Take control of your finances with our free financial audit checklist.

Physicians go from making an average salary to making multiples of that overnight. When this happens, Pandora's Box is opened. What then? The Physician Philosopher says the problem with medicine is that doctors have long financial journeys. Is an increase in money really going to make them happier and, if it does or doesn't, where should that money be spent to add the right meaning to a doctor's life? Take control of your finances with our free financial audit checklist.

Find out why setting goals keeps one accountable to achieving their short-term and long-term aspirations. Chris Browning joins me to discuss the use of techniques such as gamification to incentivize small wins, keeping goals in front of us, the value of peer pressure and recovering from deviation. How do you fair when you set your goals at the beginning of the year? Take control of your finances with our free financial audit checklist.

FIRE, Financial Independence Retire Early, is something Physician on Fire discovered four years ago. He's written about it as a state of being able to live the lifestyle you want without having to work for money. FAT FIRE is an above average budget while being financially independent. How does it impact you? Let's get into it. Take control of your finances with our free financial audit checklist.

Don't subconsciously swing for the fences with your money. Get ahead by earning money, spending some, and saving the rest. Steve Crawford helps our audience figure out how to build a budget that actually works for them. He talks specifically on why shooting blind is an equivalent to not knowing your cashflow numbers and falling short of seeing long-term. Check out Part 2 of this 2-part episode here. Take control of your finances with our free financial audit checklist.

Don't subconsciously swing for the fences with your money. Get ahead by earning money, spending some, and saving the rest. Steve Crawford helps our audience figure out how to build a budget that actually works for them. He talks specifically on why shooting blind is an equivalent to not knowing your cashflow numbers and falling short of seeing long-term. Catch Part 1 of this 2-part episode here. Make sure to subscribe to get our free templates!

You go to medical school, come out, and now are ready to achieve a life of financial freedom. Scott Trench is your guy to help you navigate a clear path forward. He recommends 4 pillars for physicians to build wealth, two of which include generating a large income and investing your accumulated assets for greater investment returns. Take control of your finances with our free financial audit checklist.

We talk through this listener's goals and current financial status to see what he needs to do to be on the right track. Tim Baker joins on the conversation to offer his advice. Ted is 29 years old and a community pharmacist at a well-known retail chain. He has plans to marry his fiance, Ginny, who is finishing nursing school and lives with him. Will his finances allow him to plan for the wedding he and Ginny want? Jump start your financial residency with these free resources!

Physician family finances can feel like a unique situation, usually due to a high debt load in comparison to other fields. These groups feel they can't talk to anyone leading to feelings of loneliness, esp. for their spouses. This episode's panel, Curtis Webster, Lara McElderry, and Donna Rovito, reminds us that being a part of a community is a huge part of sustaining sanity through a seemingly lonely time. Make sure to subscribe to get our free templates!

This episode is high-impact on the perspective of how small actions translate to long-term lifestyle results. Sarah Fallaw tells our audience that behavior and mindset have a lot to do with whether a physician treks the millionaire path or not. Take control of your finances with our free financial audit checklist.

You've come out of residency and now have your first big paycheck. Do you do what a lot of physicians do? Buy, buy, buy? But, wait. That's not cool, especially for your desired long-term financial gains. In the end, you're really losing. In this 50th podcast episode commemoration, Whitney Hansen helps me create perspective around how to avoid lifestyle creep. Take control of your finances with our free financial audit checklist.

Basically having written the foundational fabric in which multifamily investing exists, Veena Jetti realizes not many people know how to vet someone like her. In this episode, she walks me through the 4 pillars of vetting a multifamily sponsor. Make sure to subscribe to get our free templates!

Give More HUGS, a 501(c)(3), has grown, in part, of its backing from the medical community. Founder, Chris McGilvery is a believer in providing resources to underserved areas. Since 2011, they've elicited donations for programming to help disadvantaged students. 92% of funds are committed for that purpose. Make sure to subscribe to get our free templates!

Physician burnout is a good thing? Dr. Jeff Smith talks about the overwhelm of the doctor's daily routines that contribute to a depersonalization of their work, but finds it to be an opportunity to shift course. He admits to experiencing burnout daily where he is forced to reassess and proactively change the situations contributing to an emotional breakdown. Make sure to subscribe to get our free templates!

We are reviewing physician blogger Dr. Breathe Easy's 12 Toddler Steps to Financial Freedom, a reference to Dave Ramsey's 7 Baby Steps. We go through all 12 incl. paying off credit card debt, having an emergency fund, and refinancing loans, to name the first few. Kayse Kress is here to join me on this convo made for work BFFs. Jump start your financial residency with these free resources!

To honor our Veterans, I interviewed Jeff at USAA. USAA is a proud sponsor and supporter of the military and their families, so the timing is perfect. We talk about what a Financial Readiness Score is and how it's calculated, so members can review their finances at a glance. I talk about how I find this product to be similar to a robo-planner. Listen to why I think that is. Make sure to subscribe to get our free templates!

A lot of physicians are finishing med school and beginning to make choices about their future. Understanding the expectations of their employment contracts is one of those choices impacting their next move. Jon Appino helps our listeners sift through the basics of compensation, bonuses, termination clauses, non-competes, and post termination provisions. Make sure to subscribe to get our free templates!

We are back to answer listener questions in this insightful episode where The White Coat Investor joins me as we approach some of the most pressing questions our listeners are challenged with. He talks Public Service Loan Forgiveness, establishing a relationship with a financial planner, and banking to put our callers concerns to rest. Take control of your finances with our free financial audit checklist.

Chris Mamula takes us through a journey of working with a poor financial advisor and then eventually winding down the early retirement path on his own. He touched on his experience such as fees, taxes, missed ops and the overall nightmare that ensued. Through extreme financial planning and evaluating his goals, Chris helps others become their own advocates. Make sure to subscribe to get our free templates!

Live on the floor of FinCon, we discuss doing locums work for a healthy side income. Calling bluffs, choosing a location, and starting the vetting process from scratch are just a few things Dr. Carrie Reynolds elevates our knowledge about! Oh, and pave a way for a working interview? Yeah, we talk about that too. Make sure to subscribe to get our free templates!

My better half, Taylor Inman, MD, and I recently experienced a move from Las Vegas, NV to San Diego, CA. Trying really hard to stick within a budget for a new home, Tay and I reflect on some of the good and bad of the home buying process. Our family had a lot riding on the move with our kids and a potential new job, so the stakes were high for our new home and for our sanity. Curious How Much Home You Can Afford? Find out here https://financialresidency.com/affordhome!

The whole "show us your friends, I'll show you your future," in fact, means everything when applied to our finances. Nick True discusses why we need to be more conscious of the people we hang around. He encourages our listeners to consider the science behind how we behave when we're around our inner circles—they very well may be the deciding factor in having empty pockets or a full bank account. Take control of your finances with our free financial audit checklist.

We are covering how physicians can invest in real estate and ensure their return is worth it! Bringing his "giant list of 16" on investing in real estate, Dr. Peter Kim curates the conversation by laying out realistic and rewarding ways to bring more money into the pockets of hard working physicians. Take control of your finances with our free financial audit checklist.

We are turning the dreaded B-word into the much anticipated F-word… (oh wait – that sounds bad). Andy Hill is here talking budgets and financial freedom. In this very wholesome episode, we bring up the expenses that tend to creep up on our families, money talks with our spouses, and "brainwashing" the kids to do their chores so they can buy what they want. Make sure to subscribe to get our free templates!

Your finances are dependent on your actions and those actions are dependent upon the knowledge you acquire. White Coat Investor brings this concept to us in the form of his notable "Live Like a Resident" philosophy—which most of us find really hard to do. Listen how living like a resident will do you more good than not down the road. Jump start your financial residency with these free resources!

Jumpstart your Financial Residency in 14 days? PT Money is in the house and he is here to show us how it's done! PT, aka Philip Taylor, is not your average blogger. He's more like your ultimate money nerd with a gold chain and in this episode, he shows us why! Jump start your financial residency with these free resources!

With his wife being a pediatrician and with twins rummaging around, Joe Saul-Sehy is the perfect person to talk pinching pennies for the sake of stretching your stash. A big deal in the world of finance, Joe Saul-Sehy of the Stacking Benjamins show joins me for this insightful episode! Jump start your financial residency with these free resources!

Do you know what you want in life so you aren't spending money trying to impress people who might out-impress you tomorrow anyway? Maybe it's time to gain a solid perspective on how to balance your time versus money. Rocky Lalvani spends time with us to talk about time versus money. The discussion is a quality-derivative in terms of living a life you don't have to struggle to maintain. Take control of your finances with our free financial audit checklist.

What happens when you put the right systems in place to help you manage properties from a distance? A well-developed business emerges is what happens. There are a ton of great resources you can use to make your life a lot easier as a long-distance property manager. Mike LaCharite joins me to discuss why this venture requires careful consideration of all of its working parts. In this episode, we'll explore some of Mike's best and worst experiences as a long-distance landlord.

It's no secret that delving into the multifamily investment space will place your investor bucks in the right places. The secret is placed in understanding the ins and the outs of starting on this path, including the risks involved, effectively vetting the market, and pursuing successful financial structures. This show is sure to help you begin this journey with the mystery lifted. Veena Jetti and Sapan Talati joined me to provide our audience with high-quality information on cap rates, CapEx, and IRRs. They spill their very best tactics for investing in multifamily properties. They share their process workflow in detail and provide listeners with sure-fire knowledge intended to answer some of the industry's most asked questions. Make sure to subscribe to get our free templates!

Do you know why you should manage your personal finances like a business? If you're listening to this podcast, you are more than likely very in tune with your finances. Or, perhaps, you may just be beginning to understand how important they are. Whatever your journey, people like Eric Rosenberg make the process easier to understand. Your confidence level in running your personal finances like a business will skyrocket before you know it! And the "why you should" will make sense more than ever. Take control of your finances with our free financial audit checklist.

Bust out your spreadsheets and go on a money date! Money dates are a "fun and relaxed" way to connect with your partner on your finances and an opportunity to revisit what you both are working towards as a unit. Elle Martinez and I cover what it means to go on a money date. She gives fantastic advice in this episode, so be sure to open your mind (and your relationship) to the information she shares. Take control of your finances with our free financial audit checklist.

We discuss exactly what physicians need to do to run a successful short-term rental that will almost guarantee you more money in your pocket! Dr. Dave Draghinas joins me to discuss this side-gig of his in detail. Being a short-term rental landlord has many benefits and it has this money nerd all sorts of excited. Make sure to subscribe to get our free templates!

Physician term insurance and disability insurance are important topics for our audience-- important enough that I decided to have a lingering dialogue about it following our last episode for this Curbside Consult. We continue the conversation with Larry Keller. This time to answer questions polled by my Facebook groups, Physician Finance and Financial Residency, regarding term, disability, and supplemental insurance for physicians. Questions answered in this Curbside Consult include: 1. How much term insurance do physicians actually need? 2. What are the age factors for a policy term length? 3. Do supplemental plans transfer with an employer? 4. What are the definitions of disability and what is an expected loss of income as a result? 5. What should I expect from switching policies between employers? 6. What is considered disabled and what would be the resulting payouts? 7. What is an elimination period and how does it affect premiums? 8. Does short-term disability cover a 90-day elimination period? 9. Is it better to obtain disability insurance prior to a pregnancy? 10. What should residents look for in terms of the type of policy they need? Make sure to subscribe to get our free templates!