Financial Residency

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Alexis Gallati is the owner of Cerebral Tax Advisors and author of Advanced Tax Strategies for Medical Professionals. She works with physicians to legally shelter money from taxes. She shares several ideas with us today that independent contractors, business owners and those with side gigs can utilize to not only lower their tax burden but also potentially add to their retirement plan. You can learn more about Alexis and her Cerebral Wealth Academy at www.CerebralTaxAdvisors.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. James Nutter continues the Financial Wellness 101 series on "Life Well Lived." This episode focuses on aligning financial decisions with personal values rather than following generic advice. Nutter shares a decision-making framework inspired by Jeff Bezos and Darren Hardy, emphasizing the importance of speed, gut intuition, and classifying decisions into reversible and irreversible types. He integrates insights from Oprah Winfrey, Steve Jobs, and Richard Branson to illustrate the significance of trusting one's intuition. Tune in to learn how to leverage core values and unique strengths for making impactful financial choices. Key Takeaways: Follow Your Gut: Trusting your intuition can lead to better decision-making and greater personal fulfillment. Values-Based Decisions: Financial and life decisions should align with your core values and unique strengths to prevent long-term dissatisfaction. Decision Classification: Differentiate between reversible (type two) and irreversible (type one) decisions to make faster, more confident choices. Expert Counsel: Seek advice from proven experts but ultimately make decisions based on your own analysis and alignment with your core values. Regret Minimization Framework: Consider future regrets and align decisions with what your 80-year-old self would appreciate. Timestamp Summary 0:01 Making Financial Decisions Aligned With Your Core Values 2:48 Trusting Your Gut Over Cookie-Cutter Financial Advice 6:50 Decision-Making Frameworks and the Importance of Following Your Gut 11:16 Aligning Financial Decisions with Core Values and Unique Strengths 14:42 Framework for Making Tough Decisions Using Gut Instinct and Expert Advice Register for our upcoming physician homebuying masterclass here Resources PSLF Hacks Checklist Follow James Nutter Book a free financial wellness diagnostic with James here Instagram Follow IM Wealth www.imwealth.com Youtube Meaningful Journeys Scholarship Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode of Mortgage Minute, Doug Crouse of BMO Bank shares essential tips on handling purchase contracts. Learn what to avoid when asking for closing cost concessions, how to manage seller contributions effectively, and the importance of accurate contract terms to avoid complications with underwriters. Doug emphasizes the need for thorough planning and lender consultation to ensure a smooth home-buying process. To learn more about Doug, go to www.DougCrouse.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode of the Mortgage Minute, host Doug Crouse from BMO Bank revisits the critical comparison between APR and interest rates. Doug explains that while APR reflects the total cost of borrowing including fees, the interest rate is the basic cost of the loan itself. He highlights the importance of comparing these figures to evaluate mortgage offers and warns that the lowest interest rate may not always be the best deal if you're planning to refinance soon. Tune in for insights on how to make informed mortgage decisions and understand the nuances of APR versus interest rates. To learn more about Doug, go to www.DougCrouse.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. DisCover how to align your financial decisions with your personal and family core values in today's episode with James Nutter. Navigate life's choices by identifying the three values that resonate most with you. Learn from the examples of admired figures and understand the importance of making aligned decisions to avoid burnout and achieve fulfillment. James shares his own values of growth, impact, and experiences, and guides you through a process to find yours. Use your newfound values as guideposts for a life well lived. Listen in for a transformative journey to Epiphany City. Click here to discover your core values Click here to access your free financial wellness 101 playbook Resources PSLF Hacks Checklist Follow James Nutter Book a free financial wellness diagnostic with James here Instagram Follow IM Wealth www.imwealth.com Youtube Meaningful Journeys Scholarship Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Join Jon as he delves into the complexities of compensation structures, highlighting why understanding your contract is crucial. From salary versus bonuses to RVU calculations and proration, Jon explains how different compensation models—whether salary, shift rates, or collections—can impact your earnings. Discover the importance of clear contract terms, the role of data sets in fair market value, and how benefits like vacation and retirement plans can affect your overall compensation. Tune in for essential insights to navigate and negotiate your compensation effectively. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. John Dameron, financial advisor with Spaugh Dameron Tenny, joins Dr. Tammy to share insights on how residents and new attendings can set themselves up for financial success by determining early on what is important. Setting short, mid and long-term goals is vital to a physician's success. John explains "Money Dysmorphia" and how to avoid it. He talks about various factors in financial planning, such as asset protection, debt management and investing. You can learn more about John at www.SDTplanning.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. James Nutter hosts Dr. Lisha Taylor, a primary care sports medicine physician with a passion for personal finance. They delve into merging medicine and money, financial wellness for physicians, and their program Upgrade, aimed at teaching financial literacy in medical schools. Dr. Taylor shares personal anecdotes, including an inspiring story of planning a trip to the Paris Olympics. The episode also covers valuable insights on managing finances as a new attending, negotiating income, and leveraging credit card points for luxury travel. Timestamp Summary 0:02 Merging Medicine and Finance: Dr. Lisha Taylor's Unique Journey 7:29 Lessons on Money, Family, and Priorities from a Father's Influence 12:51 Finding Balance Between Spending and Saving for Financial Goals 15:35 Balancing Financial Planning and Living in the Present 17:09 Finding Fulfillment Without Excessive Wealth 22:12 Boosting Physician Income and Living Luxuriously on a Budget 27:43 Creative Programs for Physicians and Financial Wellness 31:14 Maximizing Credit Card Rewards for Luxury Travel 37:30 Navigating Financial Transitions for New Medical Attendees 40:10 Financial Planning and Protection for New Medical Attendees 44:34 Balancing Financial Planning and Personal Fulfillment for New Attendees 47:14 Optimal Timing for Life Experiences and Inheritance 50:56 Aligning Wealth with Personal Fulfillment and Meaningful Experiences 53:41 Financial Wellness Curriculum for Physicians by Dr. Lisha Taylor 55:58 Manifesting a Dream: From Heartbreak to the Paris Olympics 1:00:05 Finding Balance and Gratitude in Life's Journey Resources PSLF Hacks Checklist Follow James Nutter Book a free financial wellness diagnostic with James here Instagram Follow IM Wealth www.imwealth.com Youtube Meaningful Journeys Scholarship Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. James Nutter hosts Dr. Amelia Bueche, an osteopathic physician, yoga instructor, and wellness coach, in a conversation about holistic health, physician burnout, and financial well-being. Exploring the integration of mind, body, and spirit, Dr. Bueche shares insights from her specialty in neuromusculoskeletal and osteopathic manipulative medicine. They discuss the importance of balance, identity outside of medicine, and practical tips for managing burnout and finances. Tune in for actionable advice and a unique perspective on living a fulfilling life amidst the demands of a medical career. Timestamp Summary 0:02 Integrating Health and Finance for Physician Well-Being 4:34 From Osteopathic Medicine to Coaching During the Pandemic 8:44 Balancing Rational Thought and Emotions in Medical Coaching 11:55 A Journey from Veterinary Aspirations to Osteopathic Medicine 15:56 Integrating Fitness and Medicine for Holistic Health 21:49 Balancing Professional Identity and Personal Fulfillment for Physicians 27:10 Addressing Physician Burnout Through Individual Autonomy and Systemic Change 29:52 The Activation Process: Overcoming Burnout and Finding Clarity 38:25 Distinguishing Facts from Stories in Medical Assessments 39:47 The Power of Clarity and Controlling What You Can 43:51 Understanding Physicians' Money Mindset and Financial Coaching 52:42 Unifying Body, Mind, and Spirit for Holistic Success Resources PSLF Hacks Checklist Follow James Nutter Book a free financial wellness diagnostic with James here Instagram Follow IM Wealth www.imwealth.com Youtube Meaningful Journeys Scholarship Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode of 'Mortgage Minute,' Doug Crouse from BMO Bank discusses how to protect yourself from mortgage and real estate fraud. Learn about recent incidents of wire fraud, how email hacking can affect your closing process, and why it's crucial to verify wire instructions with your title company and lender to ensure a secure transaction. To learn more about Doug, go to www.DougCrouse.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Today, Jon dives into the often misunderstood concept of fair market value (FMV) in physician contracts. He discusses how employers determine FMV using various data sets and internal metrics, emphasizing the importance of transparency in these calculations. Jon also explores how physicians can negotiate compensation based on their workload and additional responsibilities, and why understanding FMV is crucial in contract negotiations. Tune in to learn more about how to ensure you're fairly compensated and what to consider when reviewing your contract's terms and FMV assessments.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode, Jon delves into the importance of precise language in contracts. Drawing from over 13 years of experience and reviewing thousands of contracts, he explains how subtle differences in wording—such as "guarantee" versus "draw" or "minimum hours" versus "maximum hours"—can have significant implications on employment terms. Whether it's about salary, bonuses, termination, or other contract terms, understanding these nuances is crucial. Jon emphasizes that every word matters and encourages listeners to carefully review their contracts to ensure clarity and fairness.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Curtis May with Practical Wealth Solutions joins us today to talk about his 6 Principles of Investing. He also offers a free report on the Value of Liquidity if you text BETHEBANK to 55444. You can learn more about Curtis at www.PracticalWealth.net.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Preston Crouse joins us today to talk about his experience buying a home and to give tips to those who are getting ready to do the same. He explains the process of getting preapproved, documents you will need to get a mortgage, how banks determine how much house you can afford and how much money you can expect to need at closing.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. You have a couple options if you cannot be present at the scheduled time for closing. Doug talks about ways to accomplish this and explains why you must plan ahead to utilize your options of using a power or attorney or getting a remote notary. To learn more about Doug, go to www.DougCrouse.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. James Nutter delves into the personal side of financial decision-making by exploring "money love languages" from the Gottman Institute, emphasizing the importance of understanding what money means to you and your partner. Drawing from his own experiences with security, freedom, and success, James highlights how childhood influences shape our monetary behaviors. Listeners are encouraged to identify their top money love languages and consider how these can guide their financial decisions. Whether you're single or in a relationship, this episode provides valuable insights into aligning your finances with your personal values. Special mention to James' fiancée, Steph. Click here to access your free financial wellness 101 playbook Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser. Resources PSLF Hacks Checklist Follow James Nutter Book a free financial wellness diagnostic with James here Instagram Follow IM Wealth www.imwealth.com Youtube Meaningful Journeys Scholarship Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. James Nutter dives into four essential financial habits for new physicians transitioning to attending status. Drawing from client success stories, James emphasizes the importance of a well-structured financial plan, setting personal life goals, and understanding cash flows. Listeners receive practical advice on scheduling "money talks," creating a life plan, managing new income, and developing an action plan for free cash flows. Learn how to balance enjoying life now with future financial security during this pivotal career shift. Tune in for actionable steps tailored for medical professionals aiming to live a meaningful, financially confident life. Timestamp Summary 0:03 Four Critical Habits for Physicians Transitioning to Attending Hood 4:26 Debunking Financial Myths and Their Impact on Relationships 6:42 Effective Strategies for Scheduling and Discussing Financial Matters 11:22 Building Your Life Plan Before Your Career 16:23 Understanding Cash Flows for Financial Planning 19:13 Financial Planning for New Medical Attendees 22:10 Seven-Part Goal Setting for Financial Priorities and Investments 24:49 Financial Wellness Tips for Physicians Transitioning to Attending Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Doug explains the goal and use of an impound/escrow account. Basically it builds a cushion for the bank to make payments on your behalf for taxes and insurance. He also highlights why your loan estimate may differ from your closing disclosure regarding this account. To learn more about Doug, go to www.DougCrouse.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Dr. Lisha Taylor, podcast host of WealthMindedMD, joins us to talk about 5 important things to review either when taking a new job or annually when signing up for new benefits. We talk about protecting yourself, reviewing benefits, maximizing retirement accounts, being strategic about time off and making sure you understand your schedule and expectations. You can learn more about Lisha or listen to her podcast at www.WealthMindedMD.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Doug explains how a declining market might impact getting a mortgage on a new property. We have seen a rapid rise in home prices over the past few years, but several markets throughout the US are pulling back and appraisals are coming in short. When this happens, a bank may not lend you the full offer price you initially made. To learn more about Doug, go to www.DougCrouse.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Explore essential strategies for achieving financial wellness with James Nutter in another insightful episode of "Life Well Lived, a Physician's Guide to Wealth." This episode dives into critical financial planning steps — from cash reserves and life insurance to disability planning and estate management. Whether assessing your current position or making significant strides toward financial goals, learn how to evaluate and enhance your financial health with practical, customizable advice. Perfect for physicians looking to secure their financial future and live a balanced, meaningful life. Click here to access your free financial wellness 101 playbook Resources PSLF Hacks Checklist Follow James Nutter Book a free financial wellness diagnostic with James here Instagram Follow IM Wealth www.imwealth.com Youtube Meaningful Journeys Scholarship Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Join James Nutter of I Am Wealth as he guides physicians through mastering their finances in the latest episode of "The Life Well Lived." James dives into cash flows and emergency reserves, providing insight into understanding money in and out, determining free cash flows, and setting up a peace of mind fund. He offers practical tools like the circulatory cash flow system and the Rocket Money app to help achieve financial freedom. Discover how to balance present and future financial goals and sleep soundly knowing you're on track. Simply click here to access the free video training for the circulatory system and click here to download the circulatory system guide. Timestamp Summary 0:02 Mastering Financial Vitals for Physicians 4:58 Achieving Financial Freedom Through Cash Flow Awareness 10:11 Strategies for Managing Household Cash Flow and Financial Goals 15:16 Building a Peace of Mind Fund for Financial Security 19:16 Mastering Cash Flow Management for Financial Freedom Resources PSLF Hacks Checklist Follow James Nutter Book a free financial wellness diagnostic with James here Instagram Follow IM Wealth www.imwealth.com Youtube Meaningful Journeys Scholarship Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Jon from Contract Diagnostics addresses a physician's query about the implications of their employer losing a hospital contract, detailing how to prepare and what to expect during such transitions in hospital-based employment. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode, Doug Crouse discusses a rare but costly mistake made by a borrower with high credit and 100% financing, emphasizing the importance of maintaining credit utilization and avoiding new charges during the mortgage process. For more details, reach out to me at www.dougcrouse.com or www.dougcrousephysicianloans.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Darick Hensel with Wintrust Mortgage has been helping people get into homes for 20 years. He talked with us today about strategies for home buying, building savings and improving credit scores. He has a special love for educating physicians as he is married to one. He encourages everyone to learn as much as they can before starting the homebuying process. You can learn more and reach him at www.DarickHensel.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Today, Jon from Contract Diagnostics explains the process of transitioning to a new job or taking your first job. Key steps include defining your desired opportunity, assessing your current situation (like non-compete clauses and insurance costs), and understanding termination notices and benefits. He emphasizes the importance of setting parameters with your family, proactively seeking opportunities, and leveraging recruiters. Once you receive offers, he advises conducting multiple interviews, site visits, and negotiating terms before signing contracts. Finally, he highlights the importance of understanding the credentialing process, potential delays, and the impact of employer contracts with hospitals. For personalized assistance, visit Contract Diagnostics. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. How would you like to be more financially organized than you've ever been before? Would you worry less? Would you sleep better than ever? Today host James Nutter walks you through his get it together forever process that he uses with every new client member at IM Wealth. Click here to access your free financial wellness 101 playbook Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. As part of the financial wellnenss 101 series, James wanted to re-air an episode that him & Tammy Crouse recorded this winter. Have you ever argued with a loved one about money? This is something we all have experienced and something that absolutely must be addressed in taking control of your money. You can have all the money in the world, but if you and your A-Team that surrounds you aren't on the same page, you'll never truly create a life well lived for yourself. Tune in now to the 7 Critical Steps to Argue Less About money. Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Today, Jon Appino talks about two stories from clients to illustrate this. First, a physician didn't review her current contract before accepting a new job. She thought she had everything covered but overlooked a policy that cost her nearly $100,000 in bonus pay. This highlights the need to review all contracts thoroughly. Second, another physician accepted a job offer with a risky salary agreement. Despite our warnings, he signed the contract and now finds himself unhappy and potentially owing a substantial repayment. These stories emphasize the importance of understanding every detail of your contract, both when leaving a current job and accepting a new one. Contracts are complex, and thorough review can prevent costly mistakes. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. This week with Doug Crouse, we're discussing common mistakes people make when buying a house, especially their first one. The biggest mistake is shopping for homes without securing financing. Getting a pre-approval is crucial as it gives sellers confidence in your offer. It's not a quick process, so plan ahead. Another common error is neglecting to thoroughly research the neighborhood. Location is vital; a great house in a bad area can lead to regret. Also, remember that no house is perfect. Focus on finding a home that meets most of your needs, and be open to making improvements over time. Lastly, when viewing multiple houses, use a process of elimination to narrow down your choices. Compare each new house to your favorite so far, making it easier to decide. For more details, reach out to me at www.dougcrouse.com or www.dougcrousephysicianloans.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Infidelity of any kind can wreck a relationship. Behavioral financial planner Shane Tenny talks about financial infidelity, which is more a betrayal and breach of trust than a conflict about the money itself. He explains what it is, how to spot it, how to avoid it and how to recover from it. You can also read his blog on this topic at https://www.sdtplanning.com/blog/financial-infidelity-its-not-about-the-money-its-about-trust.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode of the Physician's Guide to Wealth Podcast, James continues his financial wellness 101 series. in this episode, we explore the essential financial indicators for physicians. James provides actionable insights to help you thrive on your unique medical journey by understanding and leveraging your financial vital signs. Whether you're a seasoned practitioner or just starting out, these vital signs will guide your financial decisions. Tune in and discover the keys to financial health. Click here to access your free financial wellness 101 playbook Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this inaugural episode of the financial wellness 101 series, James takes you on a journey to "get it together forever" financially. Imagine stepping into the shoes of a brand-new IM Wealth client, guided by James himself. No more cookie-cutter solutions from internet gurus—this path is tailored to your terms. As technology and AI reshape our world, James warns the importance of understanding your motivation. Why take control of your money? Beyond fleeting enthusiasm, discover what sustains you when the initial spark fades. Motivation wanes and just how the gyms fill in January and empty in February every year… You must discover what will keep you going after that initial motivation wanes. This IMPACT primer helps you unearth your deeper purpose, empowering you to master your financial vital signs. Tune in and embark on a transformative financial journey—one that aligns with your unique aspirations. Click here to access your free financial wellness 101 playbook Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode of Contract Diagnostics, Jon discusses the importance of regularly reviewing compensation data with a case study involving a physician named David. David, who annually reviews his compensation using Contract Diagnostics' tools, faced a challenge this year when his employer refused to increase his compensation despite data suggesting he deserved an 8% raise. The employer cited a different data set, leading to a standstill. Jon emphasizes the need for transparency and routine discussions between employers and employees about compensation reports. He advises asking for detailed reports to understand discrepancies and considering the broader context of compensation, including factors like call duty, case volume, and administrative tasks. Jon also highlights the value of having competing job offers as leverage in negotiations. If faced with resistance, Jon recommends persisting in requesting transparency and utilizing resources like Contract Diagnostics for support. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Today's episode is a special edition featuring a guest from the industry. Join me in welcoming Cole Griggs from Regions Bank. Cole and I often collaborate to find the best mortgage solutions for our clients, and today, he'll share insights on what makes Regions Bank unique. We'll dive into the states Cole covers, including many in the South and Midwest, and explore Regions' professional loan program for various medical and professional fields. Cole will also provide his contact information and discuss how his programs differ from ours at BMO, particularly for clients with lower credit scores or unique financing needs. Tune in for an in-depth discussion on finding the right mortgage fit and learn more about our industry's collaborative approach to serving you best. Don't miss out on this informative episode! You can reach Cole here: (317)446-0904 Email - [email protected]

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode, Doug Crouse delves into the specifics of adjustable rate mortgages (ARMs). I'll explain what a 10/6 ARM is, how these loans are amortized over 30 years, and the importance of the margin and index in determining future rates. We'll also cover the significance of rate caps and how they protect you from drastic interest rate changes. For more details, reach out to me at www.dougcrouse.com or www.dougcrousephysicianloans.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Elizabeth Landry founded The Med Commons to help physician spouses and partners navigate life in the world of medicine. It can be lonely and isolating at times. Nonmedical friends may not understand the burdens placed on the partner who is trying to hold the family together when the physician partner is working 80 hours per week. They may think the physician family is so lucky when really they are saddled with $350,000 in debt and are juggling money to pay bills during residency. Elizabeth is trying to bring physician families together so they have community. She is working with residency programs to incorporate physician spouse/partner programs into their wellness programs as family happiness equates to physician happiness, which can help with overall satisfaction, recruiting and retention. She even has a friending app to help people find others within 50 miles who may understand and be navigating a similar pathway so they can connect. You can learn more at www.TheMedCommons.com. You can also find them on Instagram.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. We all know it's important to save for our future, but what about today? It is equally important to live our lives in the here and now. As physicians, our time is precious. This episode is to remind you that it is OK to buy back some time so you can enjoy those people you love, recover from a hard week at work or whatever it is that brings you joy.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Join Doug Crouse as he discusses the intricacies of rate locks. Most lenders don't offer a lock and shop, meaning your pre-approval comes with a floating interest rate placeholder. The first opportunity to lock your rate is when you provide a purchase contract with a close date. Exceeding this rate lock can become costly, so it's crucial to consider the duration carefully. Particularly in new construction, where delays are common, padding your rate lock can save you money. Rate locks are a two-way commitment between you and the lender, so understanding the balance between interest rates and closing costs is essential. Join me as we explore these topics and help you make informed decisions about locking your mortgage rate. If you have questions, Doug is available at DougCrouse.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. James Nutter dives into whether you need a financial advisor by introducing a four-step "value equation" inspired by Alex Hermozi. James emphasizes the importance of assessing your dream financial outcomes, your confidence in achieving them alone, the efforts and sacrifices required, and the time it might take. By reflecting on these aspects, you'll gain clarity on whether professional financial help is right for you. The episode also touches on the benefits of having specialized coaches for various aspects of life such as fitness and nutrition, comparing self-managed approaches to professional guidance. If you have any feedback or topics you would like covered, please email James at [email protected] Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Join Jon as he dives into the nuances of employer compensation structures and the importance of understanding when and how these changes occur. Learn how to proactively engage in compensation discussions, leverage the latest MGMA data, and craft a compelling case for your value. Whether you're negotiating a new contract or preparing for an upcoming review, this episode provides essential insights for maximizing your compensation package. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode of the Mortgage Minute, host Doug Crouse discusses crucial aspects of real estate contracts that can jeopardize your down payment, with a focus on earnest money. Learn why earnest money isn't always refundable and the risks involved in waiving loan contingencies. Doug provides essential tips to protect your earnest money and navigate the home-buying process more securely. Tune in to ensure you're making informed decisions when buying a home. If you have questions, Doug is available at DougCrouse.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Many physicians are interested in diversifying their portfolio with passive real estate investing. Charles Clinton joins us to talk about the risks and benefits of alternative investments with a crowdfunding platform as both the real estate owner and lender. We explore how current interest rates are affecting investments, tax benefits of real estate and how fractional real estate ROI is distributed. You can learn more and sign up for free education at www.EquityMultiple.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Hey everybody, it's Jon again with Contract Diagnostics. Today, we're diving into the topic of physician burnout and how it's impacting contracts. Employers are now implementing various strategies to combat burnout, such as increased vacation time, support programs for physicians and their families, and more structured work hours. It's crucial to have thorough discussions about your work schedule and support options with your employer. For any contract-related advice, reach out to us at Contract Diagnostics. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. ** if you didn't already, tune into the 3 Simple Summer Money Hacks Episode** James Nutter breaks down a game-changing framework to help physicians achieve their financial goals, adding a powerful fourth step to his previous three summer money habits. James introduces the meaningful goal-setting model, personalized for each physician's unique journey. He navigates through goal identification, setting smart deadlines, prioritization, and the importance of visualization and accountability. Dive in to discover how to stay financially on track, avoid burnout, and live a fulfilling, present life while aiming for future financial success. Listen for actionable insights and practical advice. 7 Part Meaningful Goal Setting Framework. identify your goals - things you want in life. Places you want to go Things you want to do Things I want to have next 12 months next 3 years next 5 years write them down and share them with others - how much would it cost? vision board.. what am I staring at in the face every day? Identify what challenges could come up set deadlines - if there's no deadline it's just a dream prioritize your goals - items of wants and needs in a logical order visualize your goals - picture yourself accomplishing the goal. be persistent With your new commitment to financial wellness and investing back into yourself what kinds of things do you want more of? What new lifestyle things will you want? Investments Real Estate Kids College Funds Retirement planning Experiences Loans Travel Car House Luxuries Country Club Training / Events New Healthy Lifestyle choices - join x gym What does a meaningful life mean to you? Cost to create your new meaningful life. A. Cost to live per month - complete circulatory cash flow system training (use rocket money $8/mo to help you or budget tool in emoney) B. Current take home monthly income. C. Difference Between A & B. You either have a surplus or shortage. D. Monthly Cost to accomplish the goals you wrote above (I.e. $1,000/mo in additional vacation, $600/mo car payment, etc.). E. Add C&D. Your current need (or deficit) + Your vision. F. What is your projected future monthly income? H. Projected Surplus (or shortage). Subtract F minus E. I. What else would you like to do with your surplus? If you have a shortage, what else can you do to make more money and reach your goals? Now visualize your meaningful journey. What will life be like at the new level? Current lifestyle - what does your current life afford you. Investments Loans Retirement funds Kids college Real Estae Car house bills luxuries vacations country club self care gym NEW LIFESTYLE - what my life will look like at this level what will I improve.. what will I do different Investments Loans Retirement funds Kids college Real Estate Car house bills luxuries vacations country club Self care gym Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. In this episode of "A Life Well Lived: A Physician's Guide to Wealth," James Nutter discusses the importance of hiring a financial planner and the different standards that financial advisors are held to. He emphasizes the fiduciary standard, which requires advisors to act in the best interests of their clients, and contrasts it with the suitability standard, which allows advisors to prioritize their own interests. Nutter also explains the key licenses and certifications that fiduciary financial advisors should hold. Tune in to learn how to choose the right financial advisor for your needs. Timestamp Summary 0:07 Unveiling Financial Advisors' Confidential Earnings and Practices 1:16 How to Decide Whether to be a DIY or Hire a Financial Planner 4:37 Understanding Fiduciary Standards in Financial Planning 10:57 Comparing Fiduciary and Suitability Standards in Advice 12:25 Verifying Financial Advisors' Credentials Through BrokerCheck 13:48 Understanding Fiduciary Financial Advisor Licenses and Certifications 19:43 Choosing the Right Financial Advisory Path Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. This week Doug Crouse discusses the importance of managing your funds for closing. It's vital to avoid consolidating money right before closing due to potential bank holds. If you do need to consolidate funds, do it well in advance. Avoid moving large sums into a new bank account without transaction history, as this can appear suspicious and cause delays. Ensure the funds are in an account with established history to prevent issues. Thanks for listening, and we'll talk to you next time. If you have questions, Doug is available at DougCrouse.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Jon from Contract Diagnostics provides an update on the FTC's non-compete rulings as of June 5th. The FTC recently voted to eliminate non-competes in the United States, though the decision faces legal challenges. While this affects around 30 million Americans, only about 500,000 to 600,000 are healthcare providers. Jon outlines key dates and timelines for ongoing legal proceedings and emphasizes the importance of renegotiating contracts proactively. He advises physicians to understand their current agreements and prepare for potential changes, while employers should focus on retaining top talent. For more information and assistance, Jon encourages reaching out to Contract Diagnostics. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. Where do you start when trying to build wealth? Do you pay off the mountains of debt accumulated through medical school? Do you invest for retirement? What about saving to put the kids through school? Brian Preston, podcast host of The Money Guy Show, joins us today to talk about his Financial Order of Operations. He recommends systematically working through these 9 steps to secure your financial future. Brian also talks about his new book called "Millionaire Mission" that just came out on 5/28/24. You can get more free resources for wealth management and learn more about his book at www.MoneyGuy.com.

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com. "Know thyself" – a timeless maxim etched onto the ancient Temple of Apollo in Greece. But what does it truly mean? Join us on a journey of self-discovery as we explore the depths of this profound saying. There's a reason why nearly one third of lottery winners go broke within their first 3-5 years.* They were handed millions of dollars vs. growing into someone worthy of becoming a millionaire. There's a difference. As doctors, your path is unique. You spent your 20s mastering medicine, not finance or why you are the way you are as a human being. And remember, before influencing others, we must understand ourselves. Reflect on our own money triggers, strengths, and weaknesses. How does your upbringing color your views? Source: https://www.usatoday.com/story/news/nation/2023/07/19/powerball-mega-millions-winners-instant-billionaire-regrets/70430571007/#:~:text=Nearly%20one%2Dthird%20of%20lottery,Financial%20Planner%20Board%20of%20Standards. Trying to qualify for PSLF and unsure if you're on track? Get James's 100% Public Service Loan Forgiveness Checklist and Masterdashboard. Go to https://info.imwealth.com/pslf to learn more. Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.