Financial Residency - TopPodcast.com

View Top 200 Chart

Back to Rankings Page

Financial Residency — Business
Financial Residency

As a doctor, you spent decades in school to get to where you are. Unfortunately, during all those years in medical school and residency, you probably didn’t receive a financial education. But, not to worry. That’s where I come in. Think of this podcast as your financial residency without the long hours and sleepless nights! I will guide you through a financial education resulting in money confidence and clarity in this critical aspect of your life. You’ll understand how you make money, how you spend money, how your hard-earned money can work for you, and how to protect yourself and your family. I have witnessed residents and fellows bombarded by life and disability insurance salesmen and other “investment” pitches that are not in their best interest. You didn’t receive any formal financial education in your decades of medical training, so how are you supposed to know the good financial advisors from the bad? This podcast will help with that. Remember, it’s ok to not know the difference between a ROTH IRA and a 403b or which 529 plan is best. This podcast will simplify highly complex concepts and translate industry jargon into plain English. Are you ready to take action and make smarter, more informed financial decisions? Great – let’s do this! Let your financial residency begin.

Copyright: © Financial Residency LLC. All Rights Reserved

Latest Episodes:

A Physician's Guide to Wealth - The Economic Worth of a Physician: Maximizing Your Hourly Rate May 03, 2024

Show notes

Discover your economic worth as a physician in this episode of "The Life Well Lived: A Physician's Guide to Wealth" podcast. Host James Nutter breaks down the concept of your hourly rate as a physician and challenges you to consider the opportunity cost of spending time on tasks you're not a professional in.

Learn how prioritizing rest, recovery, and leveraging your strengths can increase your worth and bring more joy to your life. Don't miss this insightful episode that will help you take control of your time and live a more meaningful life.

Timestamp

Summary

0:01:06

Calculating the ROI on medical school investment

0:02:21

Determining your hourly rate as a physician

0:03:47

Importance of understanding and negotiating contractual duties

0:05:01

Shifting mindset to prioritize rest and recovery

0:06:29

Opportunity cost of DIY financial planning

0:08:16

Recommended time commitment for managing finances

0:10:44

Importance of surrounding yourself with a capable team

0:11:13

Increasing hourly rate by focusing on professional skills

0:12:14

Prioritizing rest, family time, and pursuing joy.

0:12:41

The opportunity cost of spending time on non-professional areas.

0:13:13

Reflection on strengths, weaknesses, and finding help.

0:14:17

How to spend time wisely and do what brings joy.

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.

Coffee & Contracts - Group negotiations successes! May 02, 2024

Show notes

Jon from Contract Diagnostics emphasizes the effectiveness of group negotiations among physicians and announces the launch of the Group Negotiation Division. He shares a success story of a group of surgeons renegotiating their compensation and highlights the complexities involved in the process.

Jon encourages physicians to seek assistance in navigating group negotiations to ensure fair market value for their services.

Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Coffee & Contracts - Non Compete updates! May 01, 2024

Show notes

Jon from Contract Diagnostics provides an update on non-compete agreements following a recent FTC vote. While the vote leaned towards a national ban on non-competes, challenges and lawsuits are expected. Jon advises physicians to stay informed and review their contracts.

He suggests utilizing this time to renegotiate contracts and discuss compensation with employers. Contract Diagnostics is available to assist physicians in navigating these changes.

Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Mortgage Minute - Rate Modification at BMO Apr 30, 2024

Show notes

Doug Crouse from BMO Bank introduces the Rate Modification Option, a convenient program for borrowers. This option allows borrowers to relock their closed loan to the current market rate without the need for refinancing, saving time and money for both parties.

Doug explains the flat fee structure and highlights the differences between rate modification and refinancing. He emphasizes the benefits of the program, such as the opportunity to adjust rates based on changes in loan-to-value ratios. Doug invites listeners to reach out for more information or assistance with loan estimates.

If you have questions, Doug is available at DougKraus.com.

Grand Rounds: Group contract negotiations with Jon Appino Apr 29, 2024

Show notes

Many of us are told that our employer has one contract for a group of physicians and it is nonnegotiable. But what if the entire group collectively negotiated for changes? Groups can negotiate for salary, of course, but they can also request improvements to staffing, equipment, time off or other things. Jon Appino with Contract Diagnostics talks about the impactfulness and success of collective negotiations. He has started an entire division to focus on this type of bargaining and has even hired folks who previously represented "the other side" to increase physicians' chances of success in negotiations. To learn more about Jon and his team, go to www.ContractDiagnostics.com. You can also listen to his podcast Coffee and Contracts right here on Financial Residency.

Mortgage Minute - Losing lenders because of the housing market changes Apr 27, 2024

Show notes

Doug Kraus from BMO Harris Bank shares insights on the evolving mortgage market. With significant shifts in interest rates, he advises listeners to research their mortgage options thoroughly.

Doug highlights potential challenges in the industry and encourages caution when selecting lenders or brokers. He emphasizes the importance of working with established professionals to navigate the changing landscape.

If you have questions, Doug is available to assist and offers a free book on HippocraticHouse.com or DougKraus.com.

A Physician's Guide to Wealth - Do you feel in control of your money? Or is it in control of you? Apr 26, 2024

Show notes

On today's episode of A Life Well Lived James Nutter is joined by his mentor, great friend, business partner, and founder of his company Jeff McPherson, CFP®. There's a difference between taking action with your money and fully taking control of your money. In today's episode James and Jeff talk from a high-level overview of common mistakes they see physicians make with their money.

How to unsubscribe from rules of thumb like live like a resident. Student loan tips and tricks and Jeff's personal experience having his wife Michaela in Medical School from the perspective of a financial planner. Today they only scratch the surface of what will be many podcasts to come.

Please email podcast@financialresidency.com if you have a topic you would like James and Jeff to explore AMA (ask me anything) style.

IM Wealth currently works for 86 families and 70+ Physicians.

To learn more about IM Wealth please visit www.imwealth.com

To schedule a 100% free financial wellness diagnostic with James or Jeff visit www.imwealth.com and click join.

To be the first to get notified for IM Wealth's free physician financial wellness masterclasses and other free resources visit https://www.imwealth.com/im-nest-signup

Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

A Physician's Guide to Wealth - Time is Money or Is Money Time?: How to Use Your Money to Buy Back Time Apr 25, 2024

Show notes

In this episode, James Nutter explores the concept of time versus money and how it relates to physicians' lives. He discusses the common belief that time is money and how physicians often equate more time worked with more money earned.

However, he also highlights the negative consequences of this mindset, such as burnout and a lack of work-life balance. James encourages physicians to reflect on how they are spending their time and to consider whether they can delegate tasks that don't bring them joy or hire a capable team to help them complete their mission in life.

He emphasizes the importance of valuing time as the most precious resource and using money to buy back time and create a more fulfilling life.

Timestamp

Summary

0:00:04

Introduction and Will Smith quote

0:01:13

The correlation between time, money, and burnout

0:02:34

The surplus of time and money as an attending physician

0:03:48

The value of time and conducting a calendar audit

0:05:37

Investing resources for high leverage on time

0:07:01

The art of delegation and buying back time

0:08:49

Examples of areas to delegate and hire help

0:10:52

Self-assessment questions and fear of delegation

0:11:44

Evaluating income requirements and working hours

0:12:13

Conclusion and closing remarks

Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

Coffee & Contracts - They Said No to Your Ask? Apr 24, 2024

Show notes

Jon from Contract Diagnostics discusses the disparity in contract offers for physicians within the same organization but different divisions.

He emphasizes the importance of clarifying decision-making processes and reasons behind rejections when negotiating compensation. Jon advises physicians to seek multiple offers, understand policies, and persist in negotiations to achieve favorable outcomes.

He highlights Contract Diagnostics' role in providing data-driven guidance and support throughout the negotiation process.

Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Coffee & Contracts - FDA and AI Apr 23, 2024

Show notes

Jon from Contract Diagnostics discusses the FDA's evolving role in regulating AI in healthcare. As AI-powered medical devices become more prevalent, the FDA must adapt its processes to ensure safety and efficacy.

Jon highlights the potential impact of AI on physician workflows and suggests that employers will need to update policies accordingly. He emphasizes the importance of staying informed about AI advancements and encourages annual policy reviews.

Jon is optimistic about AI's potential to enhance productivity in healthcare and invites further discussion on the topic.

Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

Related Podcasts