Money Meets Medicine with Ryan Inman and Dr. Jimmy Turner

One thing is sure. All of us will die at some point.  The question is what happens to your assets? To your financial legacy?  That is where trusts come in.  In this episode, Justin Harvey CFP and Dr. Jimmy Turner discuss all things trusts: irrevocable versus revocable trusts, living trusts, and more.

Every doctor needs own-occupation disability insurance.  To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance?  Visit https://moneymeetsmedicine.com

Warrant Buffet says you don’t need international stocks in your investment portfolio.  Is this really true? Does Buffet even believe this himself?  Tag along as Justin Harvey CFP and Dr. Jimmy Turner discuss the pros and cons of international stocks, and whether they should make the cut in your portfolio.

Every doctor needs own-occupation disability insurance.  To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance?  Visit https://moneymeetsmedicine.com

References:

https://www.blackrock.com/us/financial-professionals/insights/access-international-through-the-core 

Some high-income earners feel that an emergency fund is unnecessary.  Join in as we discuss the reasons this isn’t really true, AND where you should consider placing your emergency fund as a high-income earning medical professional.

Every doctor needs own-occupation disability insurance.  To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance?  Visit https://moneymeetsmedicine.com

Have you ever thought about investing with a conscience? Maybe based for environmental, social, or governmental (ESG) reasons?  In this show, Justin Harvey CFP and Dr. Jimmy Turner discuss the merit and pitfalls of ESG investing. 

Every doctor needs own-occupation disability insurance.  To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher’s Guide to Personal Finance?  Visit https://moneymeetsmedicine.com 

References:

https://hbr.org/2022/08/esg-investing-isnt-designed-to-save-the-planet

Alex Edmunds reference: https://www.youtube.com/watch?v=FkAecFr6aRo

When an employment agreement gets placed in front of most doctors, they look at the salary.  Maybe they look at the non-compete. But, that’s about where it stops.  On this show, we discuss the other important items in a physician contract that every doctor should be aware of before signing on the dotted line.

Want a free copy of The Physician Philosopher’s Guide to Personal Finance?  Visit https://moneymeetsmedicine.com

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com

The proponents of the Financial Independence Retire Early (FIRE) movement has many proponents often fail to mention a different kind of burn. The burnout that comes from saving too much and limiting your lifestyle to a bare minimum.  What if I told you there is an alternative to traditional FIRE called “Coast FIRE” that allows you to retire early without eating raman?

Want a free copy of The Physician Philosopher’s Guide to Personal Finance?  Visit https://moneymeetsmedicine.com 

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com

Join in as Dr. Jimmy Turner and Justin Harvey, a Certified Financial Planner, discuss whether The Four F's and if doctors would would benefit from a financial advisor. Have no idea how to figure out the good advisor from the one who wants to take advantage of you? 

On this show, we discuss some rules of thumb you can utilize to find the right financial advisor for you. We also discuss fee models for financial planners and the conflicts that exist within them

Want a free copy of The Physician Philosopher’s Guide to Personal Finance?   https://moneymeetsmedicine.com

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Have you ever considered creating non-clinical income outside of medicine?  A lot of doctors have, and a recent report by Medscape shows it. Listen in as Justin Harvey, CFP and I discuss all things physician side gigs.

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com

Checkout the YouTube Channel: https://www.youtube.com/@MoneyMeetsMedicine

Medscape Physician Side Gig Report: https://www.medscape.com/slideshow/2023-side-gigs-rpt-6016717

Lowering the costs when investing is one of the key principles to investing success. The lower the cost/fees, the higher the returns over the long haul.

Did you know that the more you know about money, the lower your fees will be when you invest?  Did you also know that most people think they know more about money than they actually do, and that this is linked to higher fees when investing?

Looking to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com 

Checkout the YouTube Channel: https://www.youtube.com/@MoneyMeetsMedicine

FINRA Study: https://www.finrafoundation.org/sites/finrafoundation/files/How-Much-Are-You-Paying-Insight.pdf

Sometimes, it is time to pivot. To make a change.  And that’s what Dr. Jimmy Turner and Mike Kittner are doing.  Follow along as they discuss their journey into and out of the venture capital space. What was venture capitalism like? What did we learn? And what are we doing next?  All of that in this show and more.

 Want a free copy of The Physician Philosopher’s Guide to Personal Finance?  Visit https://moneymeetsmedicine.com  

Looking to contact Mike Kittner about own-occupation disability insurance? Shoot him an email at michael@moneymeetsmedicine.com

Did you know that being frugal isn’t the same thing as being cheap? There is a balance to all things, personal finance included. This means finding the balance between YOLO Hedonism and the hedonic treadmill and eat-raman-until-you-retire FIRE. 

If you are looking to create financial independence as a physician, tune in as we discuss how to find this balance with Dr. Disha Spath of The Frugal Physician.

Need Disability Insurance?  Visit Money Meets Medicine

Have you ever considered doing locum tenens work in order to create the freedom and flexibility you need?  Tag along as we discuss all things locums with Dr. Renee and Nii Daarko.

Need Disability Insurance?  Visit Money Meets Medicine

Download the 7-10 things you should consider before doing locums tenens work→ https://locumslifestyle.com

Wealth is more than just money in the bank.  At least, that is what our guest Dr. Bonnie Koo believes, and her thought process is pretty compelling.

On this show, we talk about:

• money mindsets, including money scarcity

• Alternative streams of income for doctors

• How our upbringing can impact our view on finances

• And much more…

Looking for Disability Insurance from a source you can trust?  Visit Money Meets Medicine

Money and marriage can be like oil and water. They just don’t mix.  Yet, in a committed relationship, you cannot really avoid talking about money.

In this show, we talk about all things money and relationships.  So, if you are married, plan to get married, or are in a committed relationship, in this show we discuss money dates, whether you should share bank accounts, and much more.

Dr. Kate Mangona is a double board-certified pediatric radiologist, supportive physician’s wife and mother to three little girls and a mini poodle. 

She and her husband Victor, a pediatric radiation oncologist and tax code enthusiast, are active and passive real estate investors in thousands of multifamily units and single-family rentals including 3 luxury Airbnbs.

Medicine, Money, and Marriage Courses and Coaching

Looking for Disability Insurance from a source you can trust?  Visit Money Meets Medicine

The #1 financial task for a doctor is getting disability insurance. Why? Because you can know everything there is to know about investing or paying down debt, but if you don't have an income... neither of them matter.

Looking for Disability Insurance from a source you can trust?  Visit Money Meets Medicine

Our guest on this show, Mike Kittner went from being a middle school educator (married to a physician) to an insurance agent who helps doctors take care of that #1 financial task.

Tune in as we discuss:

• The most common mistakes doctors make with disability insurance
• Conflicts of interest within the insurance industry
• How to make sure your disability policy is the right kind
• Where to get disability insurance
• The kind of riders that you want in your disability policy
• and more

Looking for Disability Insurance from a source you can trust?  Visit Money Meets Medicine

Have you ever had an existential crisis? You know the “What am I doing with my life?” sort of question?  And how does money play a part in your long-term view of your life?  Do you want to leave a legacy?  Do you want to make sure you maximize what you’ve saved?

In this episode, Dr. Jordan Grumet a palliative care and hospice physician discusses his experience with dying patient’s and their views on personal finance and the importance of purpose, connection, and identity.  

Buy Taking Stock by Dr. Jordan Grumet

Need help getting disability insurance or student loan help from a company built by doctors, for doctors?  Make sure to check out HelloAttend.com 

If you’ve ever wanted to fly first class but thought it was too expensive, this interview is for you.

Devon Gimbel, MD is known for helping physicians maximize rewards from credit card points so they can travel more, travel better, and travel often. 

This feels like an especially relevant and timely conversation – especially since the data shows that about 38% of doctors have 3-4 different credit cards.

We have to wonder: should all doctors be using credit cards to optimize points and perks?

I got to sit down with Devon to talk about exactly this.

Let’s just be real: student loan guidelines are confusing and they’re constantly changing.

But if you’re like many physicians who have student loans, you’re well aware that if your payments haven’t resumed yet, they’re about to.

You want to make sure you’re on track and have a plan for repayment, so you can move confidently forward with your personal finance goals.

Student loan advice is also one of the things we love helping people with at Attend.

If you want a student loan expert to help you figure out the best course of action with your loans – including which plan to be in, whether you should consolidate, whether you should file your taxes jointly or separately if you’re married, or what to do when you finish training…

You can schedule a consultation right now at helloattend.com.

For those concerned about cost, we have a unique pricing structure at Attend where you can buy now, pay later through four monthly payments all at 0% interest.  

Let’s dive into the 6 most common student loan mistakes to avoid for your best financial outlook.

Have you ever left a sporting event, following the crowd, and suddenly realized you were walking the wrong way? What if I told you this phenomenon has a name, and it impacts your money, too?

Understanding our own behavior when it comes to finance is essential because it helps us mitigate wrong-for-us decision making around money. Unless you know these roadblocks exist, you can’t do much to stop them from derailing your financial goals. 

Last week, we shared why human behavior matters for our financial lives by taking a look at the first 5 out of 10 psychological phenomena that can (and do) affect your personal finance goals: greed, fear, ego/overconfidence, loss aversion, and analysis paralysis. 

This week, we’re diving back into behavioral finance (one of our favorite topics) to share five more types of unchecked human behavior that can sabotage your journey to building the wealth you want.

Despite our best intentions, certain emotions can keep us from building wealth. After many years arming physicians with the information they need to achieve financial wellness, I had a significant realization. 

Information is one thing – behavior is another.

As the saying goes, money is 80% behavior and only 20% math.

Not only do I want to share important information about personal finance, I also want to help you recognize how certain behaviors can (and do) affect your finances. 

Drawing from one of the classic books about investing, let’s go over five common behaviors that could be keeping you from achieving your financial goals.