Brown Emergency Medicine

Welcome to the official podcast series of the Brown Emergency Medicine Residency Program.

Money Minutes for Doctors #63 ~ All things IRA

In this episode, host Kristina McAteer, MD, invites Dan Forbes, CEO of Forbes Financial, to explore the intricacies of retirement planning centered around the Roth IRA. They highlight its gold standard status due to the absence of minimum distribution requirements, making it a key consideration for tax planning. Listeners learn the flexibility of investing in both Roth and traditional IRAs simultaneously, enabling yearly review of tax liabilities and strategic investment decisions. The discussion delves into maximizing retirement contributions, including the option of a backdoor Roth for high-income earners and the benefits of gifting Roth IRAs to future generations. Furthermore, recent legislative changes regarding 529 Plans and Roth IRAs are discussed, providing valuable insights into evolving retirement savings strategies. Throughout, McAteer and Forbes emphasize the personalized nature of retirement planning, urging listeners to explore diverse options tailored to their individual financial goals.

04-02
35:22

Money Minutes for Doctors #44

Part 2 of Katherine Vesness and Dr. Kristina McAteer's discussion on how to make credit cards work for you, what types of cards are valuable and why, along with how credit scores are calculated.  Key tips on how your credit score is compiled and what you can do to optimize your score now!

03-30
30:14

Money Minutes for Doctors #43

The credit card: a helpful, useful, sometimes essential, occasionally financially devastating tool that occupies a major place in many families financial picture. This month we take a hard look in part one of our two part series on the credit card and how it may be used to bolster one’s financial foundation. We also examine the pitfalls and consequences of credit care usage left unchecked. Ms. Katherine Vessenes, CFP®, RFC, Founder and President of MD Financial Advisors, joins us for our monthly chat on all things finance.

02-28
15:27

Money Minutes for Doctors #28

This month we tackle the topic of inflation, the elephant in the room in any discussion on what your money can do for you long term. What is inflation? It's an economics term that means you have to spend more to fill your gas tank, buy a gallon of milk, or get a haircut. In other words, it increases your cost of living. Enjoy a deep dive on this incredibly important topic with Ms. Katherine Vessenes, JD, CFP®, RFC, Founder and President of MD Financial Advisors.

02-27
32:32

Money Minutes for Doctors #34

Here comes the the big three... Inflation – too many dollars chasing too few goods.  We also have an abundance of college educated workers but too few in blue collar trades so prices are increasing. Doctors are in the cross hairs of the proposed tax increases due to the physician income.  Congress proposes to increase the tax rates but also increase the tax brackets.  Now lower income will get you to a higher percentage tax bracket. Estate taxes are also proposed to increase which will affect physicians as well. Reduced income – physician income has been historically stagnant or marginally increase that does not keep place with inflation.  You would need a 3-4 % increase in salary each year to protect your buying power anything less you will fall behind.

04-25
32:49

Money Minutes for Doctors #29

It has been said that the average taxpayer shouldn't be embarrassed about not fully understanding taxes. Quite frankly, who really does? Earned Income Tax Credit, multiple exemptions, filing deadlines ~ head scratchers for most, but we are here to help! To help guide us off of the dock and into the ever shifting waters often law is our professor of finance, Ms. Katherine Vessenes, JD, CFP®, RFC, Founder and President of MD Financial Advisors.

03-23
41:38

Money Minutes for Doctors #23 - The Side Gig, Part 2 ~ Getting Started

“I wish to have no connection with any ship that does not sail fast; for I intend to go in harm's way.” ~ John Paul Jones, 1778 Last month we talked about the unique opportunities and benefits of the side gig with Ms. Katherine Vessenes, JD, CFP®, RFC, Founder and President of MD Financial Advisors. But like any long sea voyage worth taking, there should be a long process of planning and analysis. And make no mistake, It is daunting to consider casting off the lines and pointing your bow into unknown waters…there are shoals and storms a plenty! But the opportunities that exist over the horizon when considering accelerating the progress toward one’s financial goals and overall financial wellness may well be worth the journey. Dr. McAteer and Ms. Vessenes are back to discuss what it takes to begin this voyage with a sturdy and capable vessel!

10-02
24:22

Money Minutes for Doctors #12

The market is up…the market is down…the sky is falling…the best year ever!! Welcome back to our monthly financial podcast, Money Minutes for Doctors. This month we talk with Ms. Katherine Vessenes, JD, CFP®, RFC, Founder and President of MD Financial Advisors, about the rollercoaster that was the world of finance in 2018 and where the market appears to be headed in the coming months.

02-20
36:24

Money Minutes for Doctors #11 - Contracts, Part 2

Welcome back to our monthly financial podcast! In this episode we jump back into contracts with part two of one of the most important topics for a physician coming out of residency. As usual, our talk is with Ms. Katherine Vessenes, JD, CFP®, RFC, Founder and President of MD Financial Advisors. Enjoy!!

01-25
52:38

Money Minutes for Doctors #10

Discussion of the employment contract for physicians. 

12-31
30:28

Money Minutes for Doctors #9

Welcome to the 9th installment of our monthly podcast dedicated to financial education and wellness, Money Minutes for Doctors. This month we sit down with Ms. Katherine Vessenes, JD, CFP®, RFC, Founder and President of MD Financial Advisors, to talk about an often neglected topic in financial planning, what to do when encountered with the unspeakable reality of a catastrophe. In the past six months alone, communities on the east and west coasts of the United States have absorbed natural disasters that have left cities and towns in shambles. The human toll is staggering and many families are left to start from scratch following devastating circumstances. While catastrophes come in many forms: disability, loss of a loved one, job loss, loss of home, etc…planning for the worst does not have to be as painful as the topic implies.

11-27
34:01

Money Minutes for Doctors #8

Welcome to the eighth edition of our monthly financial podcast, Money Minutes for Doctors. This month we take a look at financial trends unique to female physicians. Todays doctors are going to be working harder, logging longer hours, and getting paid less; thus the need to stay engaged with one’s finances, and to work closely with a qualified financial advisor to build financial security. This month Katherine Vessnes uses her expertise in guiding female clients to examine some of the mistakes that female doctors make as well as taking a look at strategies to build a solid all-around financial foundation.

11-06
42:26

Money Minutes for Doctors #36 ~ Making the Jump

We could name this one “Things I Wish I Knew Before” but it is the beginning of summer and positivity is the word!! Of course, knowing it all ahead of time is generally not in the cards for a graduating resident but we are here to help you chart that course into the life of an attending with the benefit of decades of experience from peers. Back again to assist with the transition to the next phase is our intrepid navigator of all things finance, Ms. Katherine Vessenes, JD, CFP®, RFC, Founder and President of MD Financial Advisors. Enjoy and stay cool!

06-30
31:56

Money Minutes for Doctors #26 - Avoiding the Retirement Reef

We close out 2020 with a close look at the one of the more difficult segments of the retirement journey; those years leading up to end of the voyage. It is the final few miles that contain the unseen hazards that lurk just below the waterline, and it is not uncommon to bump into a rock (or two) before dropping anchor at the retirement destination. Our intrepid navigator of all things finance, Ms. Katherine Vessenes, JD, CFP®, RFC, Founder and President of MD Financial Advisors, is back to guide us through to a safe harbor.

12-29
35:30

Money Minutes for Doctors #25

Happy Thanksgiving everyone…we are back with the latest installment of Money Minutes for Doctors: Retirement Basics. This month we talk about what to expect upon retirement and the necessary planning that is essential to sailing off into the sunset. Hint: it is not as easy as dropping an anchor into a seemingly safe harbor! We are pleased to welcome back Ms. Katherine Vessenes, JD, CFP®, RFC, Founder and President of MD Financial Advisors.

11-28
38:04

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