Money Meets Medicine

Latest Episodes:

New Attending Financial Checklist: Money Mistakes to Avoid May 13, 2026

Show notes

The 12 to 24 months after residency set the trajectory for your entire financial life — and most physicians get it wrong. In this episode, Jimmy and Justin walk through the financial checklist every new attending needs: why you should start a taxable brokerage account immediately (not just max your retirement accounts), how to build a student loan plan before RAP and IBR rules shift, the backdoor Roth transition, vesting schedules that can cost you tens of thousands, and the lifestyle inflation trap that quietly delays financial independence. You can have anything you want — just not everything.

Resources:

Looking for a CPA that does more than just file taxes each year? Check out Gelt - the proactive Tax team that Jimmy uses: https://moneymeetsmedicine.com/CPA
Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Want a free copy of The Physician Philosopher's Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

When Can I Get Rid of My Disability Insurance? May 06, 2026

Show notes

There's a point in every physician's career where you can stop paying for disability insurance — and most doctors have no idea when that point arrives. In this episode, Dr. Jimmy Turner and Justin Harvey, CFP® break down the full physician insurance stack and tackle a question they've never covered in 270+ episodes: when (if ever) should you drop your disability and term life insurance policies?

What you'll learn:

Why own-occupation DI is the #1 financial priority for every doctor — even before paying off credit card debt
How to make DI affordable on a resident budget
Why you should secure disability insurance BEFORE term life (an underwriting issue most docs never hear about)
Tail coverage red flags to negotiate before signing a contract
The "leverage frame" for keeping coverage after you hit financial independence

Jimmy also shares his own cautionary tale: bad advice from an insurance agent as an MS4 left him permanently uninsurable for DI coverage. Don't let that be you.

👉 Get a quote that includes every option — including GSI policies your program may not know about — at moneymeetsmedicine.com/disability

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Why Doctors Work Longer Than They Need To (One More Year Syndrome) Apr 29, 2026

Show notes

The biggest financial mistake high-earning physicians make isn't overspending — it's the exact opposite.

In this episode of the Money Meets Medicine podcast, Dr. Jimmy Turner and Justin Harvey, CFP® dive into one of the most overlooked challenges in physician personal finance: the super saver trap. While most financial advice for doctors focuses on avoiding lifestyle inflation, living like a resident, and preventing the Diderot Effect, Jimmy and Justin tackle the other side of the coin — what happens when financially literate physicians save too much and can't flip the switch to actually enjoy their wealth.

In this episode, you'll learn:

Why the traditional "live like a resident" advice can backfire for financially literate physicians
How the 10% Rule allows you to enjoy lifestyle upgrades without sabotaging your financial future
The identity crisis that hits doctors when they realize they could go part-time, cut back to 3 days a week, or retire early
Why "one more year syndrome" keeps physicians grinding long after they've reached financial independence
How to balance saving, spending, and living a life you actually enjoy as a high-income earner
The values-based decision-making framework Justin uses with clients facing major financial trade-offs (home upgrades, practice ownership, business launches)
Why dying with too much money is a real risk for financially literate doctors — and how to avoid it
How to use the Kinder questions to uncover what you actually want from financial independence

Jimmy shares his personal journey of saving over a third of his income early in his attending career, then deliberately scaling back to take a lower-paying job 30 minutes from home so he could coach his kids' baseball team and be present for his family. Justin shares a real client story about a physician weighing a $2.7 million home purchase against time to retirement, work-life balance, and family values.

Whether you're a resident, fellow, early-career attending, or established physician approaching financial independence, this episode will challenge you to ask the harder existential questions: What is enough? When can you flip the switch? And are you using money as a tool — or letting it use you?

Resources mentioned in this episode:

🎓 Residents & Fellows: Get disability insurance before you finish training, including any Guaranteed Standard Issue (GSI) policies available at your program → moneymeetsmedicine.com/disability
📘 Free book: The Physician Philosopher's Guide to Personal Finance → moneymeetsmedicine.com/freebook
🎙️ Subscribe to Money Meets Medicine wherever you listen to podcasts!

Topics covered: physician personal finance, financial independence for doctors, super saver syndrome, one more year syndrome, lifestyle inflation, the 10% Rule, Diderot Effect, physician burnout, going part-time as a physician, disability insurance for residents, GSI policies, financial planning for physicians, behavioral finance, retirement planning for doctors.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Should I Consolidate My Loans, PSLF, and Buying a Home Apr 22, 2026

Show notes

Dr. Jimmy Turner hosts a solo Money Meets Medicine mailbag addressing timely physician finance questions, emphasizing that trainees should secure disability insurance before finishing training because guaranteed standard issue (GSI) policies are only available during training and many doctors need them. He explains 2026 federal student-loan changes under OBBBA, advising residents planning aggressive payoff to avoid refinancing in training, exit the defunct SAVE plan, and consider the Repayment Assistance Plan (RAP) for its interest subsidy and flexibility. He warns fourth-year med students pursuing PSLF not to consolidate loans to skip the grace period, because a post–July 1, 2026 consolidation can eliminate IBR eligibility and lead to much higher payments versus IBR’s cap.

Get $100 off a student loan consult with Student Loan Planner: https://moneymeetsmedicine.com/loans

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

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tax Day: How to Save Money on Taxes as a Physician Apr 15, 2026

Show notes

On the Money Meets Medicine podcast, host Dr. Jimmy Turner and co-host Justin Harvey CFP discuss Jimmy's surprise $36,000 2025 tax bill after household income rose into the $500,000–$1,000,000 range, phasing out tax breaks like the child tax credit and qualified business deduction, and raising his effective rate from ~25% to 31%.
They review contributors, such as using Roth 401(k)/403(b) contributions (increasing taxable income) and taking the standard deduction after front-loading charitable deductions via a donor-advised fund in 2024. They explain safe harbor concepts, note new tax changes from the “One Big Beautiful Bill Act” (including SALT cap rising to $40,000 but phasing back to $10,000 as income approaches ~$600,000), and emphasize year-ahead planning to manage AGI. And they even discuss one of the most over-hyped opportunities pitched at physicians that you should consider avoiding.

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

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

How to Invest for Your Kids (529s, Trump Accounts, Custodial IRAs) Apr 08, 2026

Show notes

In this episode of the Money Meets Medicine podcast, Jimmy discusses how his daughter Grace just earned $120 from her first real babysitting gig — and it sparked a deep dive into the best ways to invest money for your kids. In this episode, Jimmy and Justin break down the major investment accounts available for children, including 529 plans, UGMA/UTMA accounts, custodial Roth IRAs, and the brand-new Trump accounts (plus who actually qualifies for the $1,000 seed money and the $250 Dell-funded option).
They also share what's actually worked in their own families to teach kids about money — from the three-jar system to Apple Pay allowances to the parent match strategy. Whether your kids aren't born yet or are already earning their own income, you'll walk away with a game plan for building financial literacy and long-term wealth for your family.

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

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

How to Negotiate Sign on Bonuses for Physicians Apr 01, 2026

Show notes

In this episode of Money Meets Medicine, Dr. Jimmy Turner and physician contract attorney Michael Johnson break down the personal finance side of physician compensation. From negative accrual contracts that treat your salary like a loan, to sign-on bonus clawback traps that can lock you into a bad job for years, they cover the financial landmines most doctors never see coming.

You'll learn why some doctors end up owing money back to their employer, how a collections-based pay model left one physician with a six-figure IRS bill, and the sneaky ways sign-on bonuses can limit your career flexibility. Michael also walks through retirement matching pitfalls (and how a change in 401k contributions can quietly cut your compensation by $15,000+), the hidden cost of maternity leave when bonus structures aren't prorated, and why so many physicians in production models stop taking vacations entirely.

Plus, practical strategies for negotiating reduced FTEs, flexible schedules, and better clawback terms — whether you're finishing training or considering a job change.

Topics covered: negative accrual contracts, physician sign-on bonus clawbacks, 401k/403b employer matching, maternity leave compensation, physician contract negotiation, reduced FTE scheduling, collections-based pay, estimated taxes for 1099 physicians, and disability insurance for residents.

Episode Links and Resources
Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Want to get a $100 discount to work with Michael Johnson Legal (a physician contract legal team)? Use this link --> https://moneymeetsmedicien.com/negotiate

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Should Physicians Buy or Rent? How Much Should A Doctor Spend Buying a Home? Mar 25, 2026

Show notes

In this episode, Jimmy and Justin break down the real numbers behind the buy vs. rent decision at every stage of the physician journey — from fourth-year med students who just matched, to residents weighing whether homeownership makes sense during a 3-4 year program, to new attendings figuring out how much house they can actually afford.

They cover Zillow's break-even data (hint: it takes about 4-5 years on average for buying to beat renting), why that number swings wildly by city (Cleveland is ~2 years, San Francisco is 15), the dangers of the "2-3x gross income" rule of thumb in a 6%+ rate environment, and why keeping your mortgage under a third of take-home pay is a better guardrail. Plus: why renting your first year as an attending might be the smartest financial move you make, the risks of physician home loans with no money down, and what self-employed doctors need to know before applying for a mortgage.

Whether you just matched, you're finishing residency, or you're eyeing a job change, this episode gives you the framework to make a housing decision that doesn't wreck your path to financial independence.
Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Resources:
Zillow White Paper: Buy Versus Rent

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

How to Turn Credit Card Points into Free Travel (With Points by J) Mar 18, 2026

Show notes

Dr. Jimmy Turner sits down with Jess Bohorquez, creator of Points by J and wife of an OB-GYN physician, to talk about how medical families can use credit card points to travel more without spending more. Jess left a corporate tech career to build a business helping people maximize credit card rewards, and she's grown her Instagram following to over 200,000 in the process.

In this episode, Jimmy and Jess cover why transferring points out of your credit card's travel portal gets you dramatically more value, how to audit your existing cards to make sure you're actually using the perks you're paying for, and why opening multiple credit cards doesn't destroy your credit score (as long as you're responsible). Jess also shares how she and her husband redeemed 209,000 points for a $13,000 stay at Miraval Arizona, and how they enjoyed over $35,000 in free travel to Hawaii and Japan in a single year.

They also discuss the current credit card landscape, including record-high signup bonuses, recent Hyatt point devaluations, and why now is a particularly important time to stay plugged into your points strategy.

P.S. Are you a physician? Then you need disability insurance. Get a quote from a company you can trust built by doctors, for doctors: https://moneymeetsmedicine.com/disability

Key topics: choosing a general travel card vs. co-branded cards, the credit card audit spreadsheet method, downgrading vs. canceling cards, booking 11 months out for peak travel dates, the "Plan B refundable fare" hack, and free point search tools like PointsYeah.com, Roame.travel, and MaxMyPoint.com.

Links mentioned:

Points by J on Instagram: @pointsbyj
Website: pointsbyj.com
Email: jess@pointsbyj.com
Free point search tools: PointsYeah.com, Roame.travel, MaxMyPoint.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Why Physicians Can Save Less and Still Retire Early (Update on The 4% Rule) Mar 11, 2026

Show notes

What if you're saving more than you need to — and burning out in the process? In this episode, Jimmy shares how sitting down and doing the math changed his entire career trajectory, going from 1.3 FTE and antidepressants to part-time at 40 with a $2.1M net worth. Jimmy and Justin break down new research from Bill Bengen on safe withdrawal rates (spoiler: it may be higher than 4%), how to figure out what you actually need to retire, and why your future expenses are probably lower than you think. Plus, Justin shares the advisor's perspective on conservative assumptions, spending flexibility, and the risk of becoming a miser. Whether you're a DIY investor or working with an advisor, this episode will help you figure out your real number — and what to do once you know it.
Download the financial freedom calculator: https://moneymeetsmedicine.com/FIRE

Check out Medical Degree Financial University: https://moneymeetsmedicine.com/MDFU

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

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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