Money Meets Medicine

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey CFP discuss the complexities of loaning money to friends and family. Reflecting on their personal experiences, they emphasize the importance of defining relationships and setting clear boundaries. They discuss the emotional and financial impacts of giving or loaning money, the value of written agreements, and the need for accountability. The conversation also highlights the importance of trust, generosity, and aligning financial decisions with personal values.  Wanting to get started on your personal finance educational journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook Looking to secure your disability insurance from a source you can actually trust? Visit https://moneymeetsmedicine.com/disability  

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Dr. Jordan Grumet discuss the themes of purpose and fulfillment. They delve into Jordan's journey from being a hospice physician to a personal finance podcaster and author. The episode centers on Dr. Grumet's latest book, 'The Purpose Code,' which explores finding purpose as a key to fulfillment. They discuss the difference between 'big P' purpose (audacious goals) and 'little P' purpose (everyday joys), and how the latter leads to true happiness.  The conversation also covers the importance of community, personal stories, and dealing with regrets. Practical exercises from the book are mentioned to help listeners build their own sense of purpose. They highlight the significance of connections in achieving happiness and how purpose can be woven into everyday life through small, enjoyable activities. Check out Jordan's book, The Purpose Code, by visiting his site https://jordangrumet.com  

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner is joined by student loan expert Travis Hornsby to discuss the intricate and evolving landscape of student loans. The episode is timely, releasing on Christmas Day 2024, just weeks before the anticipated Trump administration takes office. This transition has significant implications for student loans, particularly in light of the complex and often conflicting policies introduced by the Biden administration.  Turner and Hornsby delve into topics such as Public Service Loan Forgiveness (PSLF), the impact of recent executive actions, and the potential changes under the incoming administration. They emphasize the importance of understanding the technical details of student loans, cautioning listeners to consult experts and carefully consider tax implications. The episode also highlights the importance of becoming a 'mini expert' in managing student loans due to the increased complexity of the system over the past 12-18 months. Looking to get started on your financial literacy journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance https://moneymeetsmedicine.com/freebook  

In this engaging episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Ryan Inman reunite to discuss a variety of topics spanning personal finance, the metaverse, cryptocurrency, and overcoming professional burnout. Ryan opens up about his departure from the podcast and his financial planning firm, Physician Wealth Services (PWS), due to burnout and life challenges. They then pivot to exploring the metaverse and cryptocurrency, detailing his ventures into gaming and decentralized finance (DeFi). Jimmy and Ryan discuss the potential of cryptocurrencies like Bitcoin, their impact on inflation, and how they might be included in personal investment portfolios. The episode offers insights into the evolving world of digital finance, personal resilience, and maintaining work-life balance. Looking to protect the one asset that allows you to invest in everything discussed in this episode? Get your own-occupation disability insurance from a source you can trust here: https://moneymeetsmedicine.com/disability  

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner discuss how physicians can manage their risk tolerance, especially during market downturns. They cover key topics such as the importance of financial literacy, the role of disability insurance, the risks of market corrections and inflation, and strategies for investing based on one's time horizon and personality. They also explore asset allocation, target date funds, and the need for thoughtful risk management. Real-world insights and personal experiences illustrate how to navigate financial planning in both stable and volatile markets. Want a free copy of the best-selling The Physician Philosopher's Guide to Personal Finance? Download a copy here: https://moneymeetsmedicine.com/freebook Need disability insurance from a source you know you can trust? Get a quote at https://moneymeetsmedicine.com/disability   

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner is joined by Dr. Bradley Block, an otolaryngologist and host of the Physician's Guide to Doctoring podcast. They discuss the power of podcasting for physicians, sharing behind-the-scenes details about creating and managing a successful podcast. They introduce the Doctor Podcast Network (DPN), designed to help physicians launch and run their podcasts efficiently, offering varying levels of support from basic guidance to full-service management. Dr. Block also shares his personal journey, detailing his experiences and challenges, including a story about his bodybuilding competitions during medical school. The episode emphasizes the importance of understanding one's goals, whether for monetization, branding, or personal fulfillment and how DPN can assist in these endeavors. If you are looking to start a podcast of your own, visit https://moneymeetsmedicine.com/DPN to learn more about the Doctor Podcast Network  

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey CFP and Dr. Jimmy Turner discuss the importance of checking your end-of-year paycheck, sharing a personal anecdote about an HSA mishap due to administrative changes. They emphasize understanding tax withholdings, ensuring proper retirement contributions, and using employer benefits like academic or CME funds. They also address the complexities of paycheck errors, production-based compensation, and tax implications for physicians, including considerations for changing jobs and charitable giving strategies.  Looking for a free book to get you started on your financial journey? Download The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook Every doctor needs disability insurance. Get it from a source you can trust at https://moneymeetsmedicine.com/disability    

Dr. Steven Bradley shares his diverse journey on the 'Money Meets Medicine' podcast, discussing his background as a Navy brat and his path through medical school at Howard University. He speaks about his love for music and decision to transition from being a music major to medicine after working in construction and being inspired by a pre-med friend.  Dr. Bradley highlights his experiences in the Navy, his critical care aspirations, and his decision to pursue an ethics fellowship alongside his medical career. He delves into his minimalist lifestyle, emphasizing his passion for music and art, and how he prioritizes them over other pursuits like sports. He also discusses the distinct cultural and ethical differences in medical practice between the U.S. and Europe.  Towards the end, Dr. Bradley touches on his mindfulness journey, his use of the handpan for relaxation, and his transition from focusing on medical content to music on Instagram and his new ambient channel. Looking for a free personal finance book to get you started on your journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance at https://moneymeetsmedicine.com/freebook Ready to get own-occupation disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability  

In this Money Meets Medicine podcast episode, hosts Dr. Jimmy Turner and Justin Harvey discuss essential end-of-year financial tasks for physicians. They emphasize the importance of open enrollment decisions, review of HSA options, evaluating 401(k), 403(b), and 457 plans, and the significance of rebalancing investment portfolios. The episode also covers tax withholdings, charitable giving through donor-advised funds, and the unique financial considerations for business owners and retirees. The hosts also suggest intentional planning for future financial goals and the benefits of seeking professional financial advice. Looking for own-occupation disability insurance? Visit https://moneymeetsmedicine.com/disability Want to increase your financial litearcy? Download a free copy of The Physician Philosopher's Guide to Personal finance at https://moneymeetsmedicine.com/freebook  

In this episode of the Money Meets Medicine podcast, Dr. Jimmy Turner interviews Rick Ferri, a seasoned investment expert with over 35 years in the industry. They discuss the benefits of low-cost index funds, financial planning, and managing investment portfolios. Rick shares his experiences from his 'Alaska or Bust' RV trip and delves into his investment philosophy. The episode also covers asset allocation, international stocks, the structure of financial advisory models, and the importance of planning beyond just investments. Want a free copy of The Physician Philosopher’s Guide to Personal Finance?  Visit https://moneymeetsmedicine.com  Every doctor needs disability insurance. To get it from a source you can trust, Visit https://moneymeetsmedicine.com/disability 

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner delve into the growing popularity of locum tenens work among physicians. They discuss the advantages such as flexibility, better work-life balance, and strategies to navigate non-compete clauses. The episode highlights the financial and psychological aspects of transitioning from traditional employment to locum tenens, the importance of understanding W2 versus 1099 tax differences, and tips for negotiating with locum agencies. Through personal anecdotes, they reveal the high demand in certain specialties and emphasize the freedom and value physicians discover in locum tenens roles. If you want to learn more about locums visit https://moneymeetsmedicine.com/locums. Looking for disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability 

In this compelling episode of the Money Meets Medicine podcast, Dr. Jimmy Turner engages Dr. Jason Mizell, a colorectal surgeon based in Little Rock, Arkansas, to delve into the intricacies of career transitions and contract negotiations in the medical field. Dr. Mizell details his professional journey from academia to private practice, emphasizing his faith's influence on his decisions and the critical elements he negotiated in his new contract. The discussion explores topics like non-compete clauses, salary negotiations, and the importance of seeking expert contract reviews, with practical insights from Dr. Mizell's experiences. Personal anecdotes highlight the emotional and professional challenges faced during such transitions, offering valuable advice for medical professionals contemplating similar changes. Looking for 10% off a contract review? Use code "10OFF" when you visit https://moneymeetsmedicine.com/resolve If you need own-occupation disability insurance from a source that you know will actually do the right thing for you, visit https://moneymeetsmedicine.com/disability 

In this podcast, hosts Dr. Jimmy Turner and Justin Harvey delve into pivotal personal finance topics tailored for physicians. They explore asset allocation, diversification, and the importance of balanced portfolios including U.S. and international equities as well as bonds. The discussion encompasses different investment strategies, risk management, financial literacy, and rebalancing techniques to maintain financial security and achieve independence. Emphasizing adaptive investment approaches and expert insights, the hosts provide valuable advice and resources to help physicians navigate their financial journeys effectively. Want a free copy of The Physician Philosopher’s Guide to Personal Finance?  Visit https://moneymeetsmedicine.com  Every doctor needs disability insurance. To get it from a source you can trust, Visit https://moneymeetsmedicine.com/disability       

In this episode of 'Money Meets Medicine,' hosts Justin Harvey and Dr. Jimmy Turner dive into techniques for overcoming decision fatigue to enhance financial efficiency. They discuss the advantages of minimizing choices, embracing core financial principles, and adopting automated systems to streamline decision-making. Key topics include the benefits of low-cost index funds, the impact of behavioral finance, balancing financial choices with personal values, and the importance of a strong savings rate. The episode provides valuable insights for medical professionals aiming to optimize their financial strategies and reduce stress. Every doctor needs 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  

Join hosts Justin Harvey and Dr. Jimmy Turner on this episode of the Money Meets Medicine podcast as they delve into strategies for achieving financial success through minimizing decision fatigue and maximizing efficiency. They discuss the impacts of decision fatigue, the benefits of automating financial tasks, and the concept of making one decision that simplifies future financial decisions. The episode covers the importance of maintaining a high savings rate, the benefits of investing in index funds, and the value of outsourcing tasks. They also explore the importance of understanding one's core values and principles in making financial decisions that align with personal goals. Don't miss this insightful discussion, plus tips on batching financial decisions and living intentionally while working towards financial independence. Every doctor needs 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   New York Times Article: https://www.nytimes.com/2024/07/29/business/retirement-savings-scams.html

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner discusses the proposed FTC non-compete ban and its implications for physicians with guest Kyle Clausen. Kyle, an expert in physician contracts and compensation, shares insights on how to navigate non-competes, negotiate contracts, and protect one's financial interests when seeking new employment. Topics include the recent legal rulings on the FTC's proposed non-compete ban, how to handle various contractual elements like tail coverage and intellectual property, and strategies for successful contract negotiation. Get 10% off a contract review by using code "10OFF" at https://moneymeetsmedicine.com/resolve   DownloadThe Physician Philosopher's Guide to Personal Finance: https://moneymeetsmedicine.com/freebook Get disability insurance from a source you can trust: https://moneymeetsmedicine.com/disability

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner delve into financial fraud scams and how to protect yourself and loved ones. They share a listener's heart-wrenching story of falling victim to a scam that cost their parents millions in retirement savings. The episode covers various types of scams, including romance scams and gift card fraud, and emphasizes caution when dealing with high-risk investments. The hosts also discuss the importance of due diligence, especially for physicians who may be targeted due to their high incomes. Tune in to learn vital tips for safeguarding your finances and avoiding common pitfalls. 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   New York Times Article: https://www.nytimes.com/2024/07/29/business/retirement-savings-scams.html  

In this inaugural episode of 'Business of Medicine Fridays' on the Money Meets Medicine podcast, Dr. Jimmy Turner introduces this exciting new segment featuring guest interviews focused on money, mindset, and career longevity. In a compelling interview, Dr. Turner speaks with Dr. Bill Bernstein, a neurologist turned financial advisor, about financial mistakes doctors should avoid, the importance of understanding market history, and practical tips for successful investing. Listen in as Dr. Bernstein shares insights from his extensive research in modern portfolio theory and his perspective on the ethical considerations in the financial industry. Looking to get started with your financial litearcy?  DownloadThe Physician Philosopher's Guide to Personal Finance: https://moneymeetsmedicine.com/freebook If You Can by Bill Bernstein: https://www.etf.com/docs/IfYouCan.pdf Get disability insurance from a source you can trust: https://moneymeetsmedicine.com/disability

In this episode of the Money Meets Medicine Podcast, hosts Justin Harvey and Dr. Jimmy Turner examine the complexities and strategies of saving for children's college education. They argue that a 529 plan, while useful, is not the ultimate solution for funding education. The hosts share their personal experiences and offer alternative savings options, including prepaid tuition plans, scholarships, and Roth IRAs. They emphasize the importance of having philosophical and practical conversations about the purpose of higher education and how to incorporate family values into financial planning. Additionally, they discuss the importance of teaching children about money, giving them financial responsibilities, and considering non-traditional educational pathways.   Save $100 on a student loan consult: https://moneymeetsmedicine.com/slp  Looking for a free-copy of the best-selling Physician Philosopher's Guide to Personal Finance? Download it here: https://moneymeetsmedicine.com/freebook Need disability insurance from a source you can trust? Visit https://moneymeetsmedicine.com/disability 

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss the advantages and disadvantages of SEP IRAs and Solo 401ks for doctors earning 1099 income. They delve into the differences between W2 and 1099 income, tax considerations, and the impact on retirement planning. The discussion includes real-life anecdotes, such as navigating backdoor Roth IRAs, the complexities of plan compliance, and criteria for choosing between SEP IRAs and Solo 401ks. The episode stresses the importance of understanding the nuances to make informed financial decisions tailored to individual circumstances. To download a free-copy of the best-selling Physician Philosopher's Guide to Personal Finance: https://moneymeetsmedicine.com/freebook To get disability insurance from a source you can trust, visit https://moneymeetsmedicine.com/disability