Money Meets Medicine

Latest Episodes:

Jimmy Changes Jobs (Academics to Private Practice) Dec 24, 2025

Show notes

In this episode of "Money Meets Medicine," Dr. Jimmy Turner shares his journey transitioning from nearly 20 years at Wake Forest to a private practice role at Iredell Memorial Hospital. He and host Justin Harvey discuss the professional, financial, and personal factors behind the move, including healthcare consolidation, contract negotiation, and work-life balance. Dr. Turner reflects on identity, adapting to new clinical environments, and the importance of maintaining professional relationships. The episode offers practical advice for physicians considering career changes, emphasizing thoughtful decision-making, self-advocacy, and aligning work with personal values.

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End of Year Financial Tasks Dec 17, 2025

Show notes

In this episode of "Money Meets Medicine," Dr. Jimmy Turner and Justin Harvey CFP share a comprehensive year-end financial checklist for physicians. They discuss maximizing contributions to tax-advantaged accounts, coordinating retirement savings during job transitions, managing tax withholdings and 1099 income, and optimizing investment portfolios through rebalancing and tax loss harvesting. The hosts also cover charitable giving strategies using donor-advised funds, tax planning for self-employed physicians, insurance reviews, and important deadlines for 529 plans, RMDs, and Roth conversions—offering practical advice to help medical professionals finish the year financially strong.

Not sure where to start? Join the once-weekly MMM Update where we send a personal finance lesson of the week to your inbox in addition to that week's content and exclusive deals and discounts: https://moneymeetsmedicine.com/update

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The 401(k) Vigilante: Are Hidden Retirement Fees Stealing Doctors’ Money? (Paul Sippil) Dec 10, 2025

Show notes

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner talks with Paul Sippil, a forensic retirement consultant known as the '401k vigilante.' The discussion focuses on the hidden, layered, and unnecessary fees often found in 401k and 403b plans that cost participants thousands over time. They explore the technical aspects of these fees, the Form 5500, and how small and large practices differ in fee structures. Sippil provides insights into negotiating fees, the roles of various service providers in administering retirement plans, and the importance of employers paying administrative costs to maximize tax benefits.

Learn more about Paul Sippil here --> https://www.paulsippil.com

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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/freebook

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Tax Loss Harvesting $35,000 (Jimmy's Financial Wins) Dec 03, 2025

Show notes

This is the 250th episode of the Money Meets Medicine podcast! What better way to celebrate than to talk about Jimmy's financial journey over the last 8 years since finishing training. In this episode, Jimmy shares some of his family's personal financial milestones and some recent financial wins, including a big tax loss harvesting event.

Topics discussed on the show:

Paying off student loans
Jimmy's family's Net Worth
Highlighting key financial principles like avoiding the Diderot Effect and leveraging compounding interest.
The Big Tax Loss Harvesting event involving Bitcoin.

Looking to get started on your own bitcoin journey? Download Jimmy's Beginner's Guide to Bitcoin here: https://moneymeetsmedicine.com/bitcoin

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Join the weekly Money Meets Medicine Update to get access to a weekly personal finance lesson, all the new content, and exclusive deals and discounts on things like contract reviews/negotiations, student loan consults, and more --> https://moneymeetsmedicine.com/update

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The IUL Lawsuit Every Physician Investor Should Know About Nov 26, 2025

Show notes

NASCAR star Kyle Busch is suing Pacific Life after losing millions in a complex index universal life (IUL) insurance strategy—and the lessons for physicians are huge. In this episode, Dr. Jimmy Turner and Justin Harvey break down what happened, why complexity and “trust-based” sales tactics so often burn high-income professionals, and how to protect yourself from misleading financial products and advisors. Whether you’re a physician navigating insurance pitches, investment opportunities, or affinity-based recommendations, this real-world case is a must-listen.

Join the MMM weekly update filled with exclusive content, lessons, discounts, and deals. Hits your inbox once each week. Click here to joint: https://moneymeetsmedicine.com/update

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/freebook

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Physician Real Estate Syndications Gone Wrong: Affinity Fraud, Capital Calls, & How to Protect Yourself Nov 19, 2025

Show notes

In this episode of the Money Meets Medicine podcast hosted by Justin Harvey and Dr. Jimmy Turner, the discussion centers on recent developments in physician finance, particularly around real estate syndication deals and capital calls. Dr. Turner delves into the financial pitfalls and lessons from particular real estate investments targeted at physicians. They discuss the concept of 'affinity fraud,' where trusted social or professional bonds are exploited for financial gain, and dissect why such investments are often riskier than they appear. The conversation also touches on the importance of understanding compensation models and incentives when receiving financial advice, the necessity of due diligence, and the role of being an accredited investor.

Looking for own-occupation disability insurance? Get a quote from a company you can trust at https://moneymeetsmedicine.com/disability

Download a free copy of The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook

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1099 vs W2 for Physicians: How to Compare Offers, Taxes, Benefits, and Real Take-Home Pay Nov 12, 2025

Show notes

In this episode of "Money Meets Medicine," hosts Justin Harvey and Dr. Jimmy Turner discuss the financial pros and cons of working as a 1099 independent contractor versus a W-2 employee, focusing on tax implications, benefits, and administrative responsibilities. The hosts emphasize the need for professional financial guidance and encourage listeners to carefully weigh all factors—including taxes, benefits, and personal preferences—when evaluating job offers in medicine.

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Timestamps by PodSqueezeCertainly! Here are the top 5 bullet points, keeping the same format, content, and context:

Introduction to 1099 vs W-2 (00:00:00)**

Hosts introduce the episode’s focus: comparing 1099 contractor and W-2 employee pay for medical professionals.

Highlights:

Tax Differences: Employer vs Employee Side (00:07:29)**

Apples-to-Apples Comparison: Taxes, Malpractice, Benefits (00:10:41)**

Complexity and Costs of Self-Employment (00:17:28)**

Rule of Thumb: 1099 Should Pay 20–30% More (00:25:15)**

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Should You Refinance Your Mortgage After the Fed Rate Cuts? How to Know When It Actually Makes Sense Nov 05, 2025

Show notes

The Fed just cut interest rates — but does that mean YOU should refinance your mortgage or student loans? In this episode, Jimmy and Justin break down how rate cuts actually impact real life borrowing costs, what the media gets wrong about “market reactions,” and when refinancing actually makes financial sense. We walk through what break-even math looks like, why refinancing federal student loans can be a massive mistake for doctors, and how to think about future rate cuts that may be coming.

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Why Financial Literacy Should Be Mandated by the ACGME Oct 29, 2025

Show notes

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss how financial burdens impact medical professionals' personal lives, academic performance, and career decisions. They explore various studies that demonstrate these effects, covering topics such as increased stress levels, delayed life decisions like marriage and children, negative impacts on academic performance, and challenges faced when managing student loan debt. Additionally, they delve into the ethical concerns related to financial incentives in medical practice. The episode also emphasizes the importance of financial literacy for medical residents and offers practical solutions for incorporating financial education into residency programs, drawing on Justin's experience in delivering such talks.

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

Investing locally, non-competes, and inheritances Oct 22, 2025

Show notes

In this episode of Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss the importance of understanding non-compete clauses in physician contracts and strategies for negotiating favorable terms. They answer listener questions covering investment options outside of traditional index funds, including local investments, real estate, and lending to peers. The conversation also touches upon the allocation of inherited funds to maximize growth and tax efficiency while honoring the legacy of the gift. Additionally, they emphasize the significance of liquidity and the benefits of having an emergency fund to handle irrational institutional decisions. The episode stresses empowering physicians to leverage their positional advantages effectively.

Looking for disability insurance from a source you can trust? Get a quote from https://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.

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