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Grow your wealth by working on your mindset and up leveling your game. Your thoughts about money have created your current financial net worth. Sadly, there are many physicians who are have earned a good income but have not built wealth. More and more physicians are becoming burned out as our health care system continues to change. Join the movement of physicians embarking on the journey to take matters in our own hands so we can continue to thrive. Tune in each week to learn more on how to grow your wealthy mindset! Imagine your life when you have the financial knowledge to create wealth so you can practice medicine on your own terms. Please subscribe and leave a review on your favorite Podcasting platform. You can learn more about Elisa at her website or follow her on social media. Website: www.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/elizabeth-chiang-0582a432
181 Episodes
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Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work. In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowi...
This week, we’re diving deeper into spending—what truly counts as a need versus a want, and how to make sure your spending reflects your values and supports your financial goals. Even high-income earners can struggle to save when lifestyle inflation creeps in. In this episode, we’ll explore how lifestyle inflation happens, how to recognize it, and how to shift toward mindful spending that brings lasting fulfillment. You’ll learn: · How to tell the difference be...
Have you ever wondered how much you should be spending on housing, groceries, cars, or fun? This episode breaks down how to create a realistic and values-based spending plan that fits your lifestyle and financial goals. Whether you’re creating your first spending plan or re-evaluating where your money goes each month, this episode will help you understand how to balance your spending between needs, wants, and savings—and how to adjust that framework to fit your own circumstances. You’ll learn...
As physicians, we’re no strangers to long-term goals. Many of us spent years—if not decades—pursuing the dream of becoming a doctor. That kind of deep, meaningful striving can bring great fulfillment—but what happens when we achieve that goal and still feel like something’s missing? In this episode, we explore how goals influence our happiness, why the type of goals we pursue matters, and how to realign our ambitions to create more joy, purpose, and emotional well-being. Whether you're feelin...
Are you age 50 or older and contributing extra to your 401(k), 403(b), or 457(b)? Big changes are coming to catch-up contributions that could affect your retirement planning—especially if you’re a high-income earner. In this episode of The Grow Your Wealthy Mindset, I break down the IRS’s final regulations on catch-up contributions under the SECURE 2.0 Act and what they mean for you starting in 2026. We’ll cover: Who is considered a “high-income earner” and how that definition is determinedWh...
As physicians, most of us start out following a traditional path: find a job posting, talk to recruiters, and take whatever positions are available in the places we want to live. But what if we thought differently about our careers? What if we created work arrangements that actually fit our lives, values, and goals? In this episode of The Grow Your Wealthy Mindset, I share my own story of exploring non-traditional work arrangements — from going part-time, to traveling for work, to negotiating...
In this episode of The Grow Your Wealthy Mindset, we dive into donor-advised funds (DAFs)—a powerful but often overlooked tool for charitable giving. You’ll learn: What a donor-advised fund is and how it worksWhy donating appreciated assets (like stock) may be smarter than giving cashThe benefits and downsides of using a DAFHow Fidelity, Schwab, and Vanguard’s donor-advised funds compareWhen a DAF might make sense in your own financial or estate planningWhether you’re already a generous giver...
When it comes to interest rates, not all percentages are created equal. In this episode, we break down the difference between APR (Annual Percentage Rate) and APY (Annual Percentage Yield)—two terms that may sound similar but can drastically affect how much you pay (or earn) over time. We’ll explore: Why lenders advertise APR while banks flaunt APYHow compounding frequency changes your bottom lineReal examples from high-yield savings accounts and credit cardsHow daily vs monthly compou...
What does a two–week trip to Ireland really cost—and how do you plan for it without blowing your budget? 🌍✈️ In this two episode series, I take you behind the scenes of our recent two–week adventure across Ireland. From castle stays and scenic drives to cozy B&Bs and once–in–a–lifetime experiences (like a hawk walk at Ashford Castle), I share exactly how I planned the trip, the financial choices we made, and a detailed breakdown of what we spent. Here’s what you’ll hear in this epi...
What does a two–week trip to Ireland really cost—and how do you plan for it without blowing your budget? 🌍✈️ In this two episode series, I take you behind the scenes of our recent two–week adventure across Ireland. From castle stays and scenic drives to cozy B&Bs and once–in–a–lifetime experiences (like a hawk walk at Ashford Castle), I share exactly how I planned the trip, the financial choices we made, and a detailed breakdown of what we spent. Here’s what you’ll hear in this epi...
Life insurance isn’t something we buy for ourselves—it’s an act of love and protection for those who depend on us. This episode answers a listener’s question: How much life insurance is recommended? This episode dives deeper into how to determine the right amount of coverage based on your personal circumstances—whether you’re single, married, or raising a family. Dr. Elisa Chiang shares real-world examples and walks through different strategies for determining how much term life insurance a p...
In this episode, we explore a powerful and fun way to boost your happiness—by living in the present through flow and savoring. This is the 8th episode in the series following Dr. Sonja Lubomirski’s book, The How of Happiness. You’ll learn what “flow” really means, how to create it in your daily life, and why it’s one of the most effective ways to feel more fulfilled, engaged, and joyful—whether at work, at home, or in your free time. Drawing from the groundbreaking research of psychol...
In this episode of The Grow Your Wealthy Mindset, we demystify the world of options trading—a topic that often feels complex and intimidating, especially for busy professionals like physicians. Whether you’ve heard of puts, calls, or covered calls and want to finally understand what they mean, or you're simply curious about how options can fit into a diversified investment strategy, this episode is for you. Tune in to learn: What options are and how they work The difference between cal...
Dave Ramsey has helped millions of people take control of their finances—but does his advice make sense for physicians? In this episode of The Grow Your Wealthy Mindset, I break down where Ramsey’s principles work and where they fall short for doctors. With our unique financial journey—years of training, six-figure student loan debt, and sudden income jumps—physicians need a more nuanced approach than blanket debt-aversion. From student loans and investing, to credit cards and retirement plan...
In this timely episode, Dr. Elisa Chiang breaks down the One Big Beautiful Bill Act, signed into law on July 4, 2025, and what it means for physicians. With over 800 pages of legislation, this sweeping law has far-reaching implications for taxes, healthcare funding, student loans, and energy incentives. Dr. Chiang highlights the key takeaways—both positive and negative—for physicians, medical students, practice owners, and anyone working in healthcare. What You'll Learn: How the bill permanen...
Did you know you could get a 22–37% discount on your childcare or dependent care expenses just by using pre-tax dollars? In today’s episode, I dive into the often-overlooked but highly valuable Dependent Care Flexible Spending Account (FSA). While Health FSAs and HSAs get plenty of attention, Dependent Care FSAs can offer significant tax advantages—especially for dual-income families or single parents. I break down who qualifies, what kinds of care are eligible, how much you can contribute, a...
Looking for a way to grow your income beyond your clinical job? In this episode, we’re diving into debt funds—an often overlooked but powerful tool for generating cash flow. Whether you're curious about how they work, the risks involved, or how to get started, this episode breaks it all down in simple terms. If you’ve ever wondered how you can make your money work harder for you—without swinging for the fences—debt funds might be the steady engine your portfolio needs. In this episode,...
In this episode of The Grow Your Wealthy Mindset Podcast, we're diving into two primary strategies investors use to grow their wealth: investing for appreciation and investing for cashflow. Whether you're aiming to build long-term wealth or looking to create more immediate income from your investments, understanding the difference between these two approaches is essential to aligning your strategy with your financial goals. You'll learn: The difference between equity appreciation and investme...
This episode if a collaboration project with myself and Dr. Disha Spath where we talk about money and happiness. Tune in for a fun and insightful conversation. Dr. Disha Spath is a board-certified Internal Medicine Physician and the founder and CEO of The Frugal Physician, which has been recognized as a Plutus award nominee for excellence in financial media. In addition to leading her own initiative, Dr. Spath contributes as a personal finance columnist for Practice Link magazine and ha...
In this episode of The Grow Your Wealthy Mindset, we explore the 6th activity from The How of Happiness by Sonja Lyubomirsky, Developing Strategies for Coping. Whether you're facing burnout, personal loss, or the everyday emotional weight of your work, learning to cope effectively can be life-changing. This episode reviews different types of coping strategies, from problem-solving to emotional processing, and dive into practical tools like expressive writing, thought disputation, and finding ...
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