Money Meets Medicine

In this episode Dr. Jimmy Turner and Michael Kittner discuss how to make disability insurance more affordable, particularly while in training. They also cover certain kinds of guaranteed standard issue disability insurance policies that only exist while in training - and why it is a catastrophic financial mistake for a lot of doctors if they wait until after training to get disability insurance. Every doctor needs own-occupation 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, Dr. Jimmy Turner and co-host Justin Harvey CFP discuss various implications and strategies regarding sudden inheritance of assets, including vehicles, cash, stocks, and trusts. They emphasize the importance of strategic financial planning and timely decision-making to optimize tax benefits, avoid financial pitfalls, and preserve family relationships. They highlight specific examples such as the step-up in basis for stocks, tax implications of inherited IRAs, and the psychological impacts of lump sum versus dollar cost averaging in investment. The episode also underscores the necessity of having a well-communicated estate plan to prevent family disputes and ensure coherent asset distribution. Additionally, it touches on the importance of obtaining disability insurance, particularly for medical trainees, and offers resources for financial planning guidance. Need your own disability insurance? Get the kind built for doctors by doctors at https://moneymeetsmedicine.com/disability

In this episode, host Dr. Jimmy Turner interviews Dr. Hannah Thompson and her husband, Chris Herring, from OtherSide Med. They talk about handling finances in residency, getting on the same page with your spouse financially which applies to more than just those in training. And we're even gonna touch on disability insurance and Hannah's journey and doing the due diligence and ending up getting disability insurance.If you need disability insurance, make sure to check out Money Meets Medicine Disability Insurance by visiting https://moneymeetsmedicine.com/disabilityTo checkout OtherSide Med visit: https://www.instagram.com/theothersidemed/  

In this episode, Dr. Jimmy Turner and Justin Harvey CFP discuss a common journey from financial independence, retire early (FIRE) to Die with Zero mentalities as doctors learn more about money and have more lived experience. They discuss specific tools to help you determine what you should be spending money on (and how much), financial arrival fallacies, and the importance of using money as means to an end and not the end itself.Every doctor needs own-occupation disability insurance.  To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disabilityWant a free copy of The Physician Philosopher's Guide to Personal Finance?  Visit  https://moneymeetsmedicine.com/freebook 

In this episode, Dr. Jimmy Turner and Dr. Kirk Heath talk all things locum tenens, physician entrepreneurship, and how financial independence helps doctors practice medicine on their terms. They discuss Kirk's journey from practicing full-time as a surgeon in a private practice setting to his journey into locums. They take a deep dive into how locums helps doctors individually, how it may be a solution to systemic problems in medicine, and touch on the financial aspects of working as a 1099 versus a W2 physician. Want to learn more about locum tenens? Make sure to check out LocumStory by visiting https://moneymeetsmedicine.com/locumsEvery doctor needs own-occupation disability insurance.  To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disabilityWant a free copy of The Physician Philosopher's Guide to Personal Finance?  Visit https://moneymeetsmedicine.com

In this episode of the 'Money Meets Medicine' podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss strategies for managing personal finances during market downturns, specifically focusing on the impact of recent tariffs imposed by Trump in April 2025. They emphasize the importance of having a solid investment plan and understanding market history to mitigate psychological stress during volatile periods. The conversation covers the importance of diversification, the benefits of tax loss harvesting, and how to handle significant cash reserves during market dips. Wanting to get started on your financial journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance: https://moneymeetsmedicine.com/freebookLooking to get own-occupation disability insurance from a source you can trust? Get a quote at https://moneymeetsmedicine.com/disabilityRolling returning averages for the S&P 500: https://www.advisorpedia.com/chart-center/time-in-the-market-not-timing-the-market/ 

This episode is sponsored by Locumstory. Your source for all things locums.---Ben and Sam are doctors who don't just heal with medicine—they create with music. In this episode, they talk about their parallel paths from the East Coast to Colorado, their shared musical background, and how they balance both call schedules and band rehearsals. Sam shares the highs of performing at Red Rocks, while Ben discusses navigating military service and academic transitions. They also unpack the inspiration behind their podcast, Crescendo de Crescendo, a thoughtful series about how medicine and music inform and elevate each other. This episode blends passion, purpose, and practical advice for any clinician exploring life beyond the white coat.Dr. Ben's BioDr. Ben is an internal medicine physician who transitioned from a military medical career to academic medicine. He served as a Lieutenant Commander in the U.S. Navy, completed his residency and a chief resident year at Walter Reed, and later worked as an Associate Program Director in a military academic health center. After his military service, Dr. Ben pursued a medical education fellowship at Penn State, where he collaborated with Dr. Paul Haidet on research exploring the intersection of music and medicine. This collaboration inspired the creation of the podcast Crescendo de Crescendo, which he co-hosts with Dr. Sam.​Dr. Sam's BioDr. Sam is an internal medicine physician and musician based in Colorado. He is a member of the band Dark Arts, which blends elements of folk, alternative, and psychedelic rock. The band gained notable recognition by performing at the renowned Red Rocks Amphitheater. Balancing his medical career with his passion for music, Dr. Sam co-hosts the podcast Crescendo de Crescendo alongside Dr. Ben, where they explore the parallels between the practices of medicine and music.​---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  

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey CFP and Dr. Jimmy Turner explore the topics of paying off mortgages early, establishing personal and professional boundaries, and the importance of having disability insurance. They stress the significance of setting boundaries in professional life to prevent burnout, drawing from Dr. Turner's own experiences and his framework for fulfillment outlined in his book. The duo also delve into the debate on whether to pay off a mortgage early in a high-interest environment versus investing, providing both mathematical and psychological perspectives. 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 

In this episode of the Money Meets Medicine podcast, Dr. Jimmy Turner explores Bitcoin and its implications for the financial world with Dr. Noah Kaufman, an emergency medicine physician, rock climber, and former American Ninja Warrior competitor. Dr. Kaufman shares his journey into Bitcoin investment, explaining the concept of deflation, the intrinsic value of Bitcoin, and its potential societal impacts. They discuss the adoption of Bitcoin, its comparability to gold, and its unhackable nature. Dr. Kaufman stresses the importance of understanding Bitcoin as an invention rather than a speculative investment. They also touch on the potential future impacts of Bitcoin on the financial system and individual wealth. The episode encourages physicians and listeners to explore Bitcoin deeper and consider its role in their financial strategies.Check out Sound HSA --> https://SoundHSA.com  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

This episode is brought to you by Locumstory—learn how locum tenens can help you find more freedom and flexibility in your medical career at moneymeetsmedicine.com/locums.---Dr. Turner and Mike Kittner discuss the crucial topic of disability insurance for doctors. They explore common pitfalls and nightmares experienced by doctors in securing disability insurance and emphasize the importance of obtaining coverage during medical training. Mike shares real-life stories about the consequences of not disclosing full medical histories and missing out on guaranteed standard issue (GSI) policies. They also highlight why Guardian's GSI policies are highly beneficial, especially their unique fallback option that prevents denial nightmares. Detailed explanations are given on why considering fully underwritten policies might be beneficial, the advantages of graded premiums, and the significant role of independent insurance agents. The episode underscores the necessity of getting disability insurance while in training and offers actionable advice on how to avoid common mistakes.If you are looking to get a quote for disability insurance from a source you can trust, visit https://moneymeetsmedicine.com/disabilityJust learning about personal finance? Make sure to snag a free copy of The Physician Philosopher's Guide to Personal Finance for free at https://moneymeetsmedicine.com/freebook 

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner is joined by retired physician and credit card guru Dr. Devin Gimble to discuss how to maximize credit card points for luxury travel. Dr. Gimble, who funds $50,000 to $100,000 worth of luxury travel annually using points, shares her expertise on using transferable credit card points, such as those from Chase and Amex, to greatly enhance their value.  They discuss the importance of understanding spending categories, the pitfalls of credit card churning, and strategies for physicians to leverage high expenses to earn substantial travel rewards. The podcast emphasizes simplicity and practicality, offering insights for both detail-oriented individuals and those seeking straightforward solutions. Additionally, the episode highlights the 'Points Made Easy' course and the necessity of own occupation disability insurance for physicians. Dr. Gimble also debunks common misconceptions and provides actionable tips for optimizing credit card points without overwhelming effort. Want to learn how to mazimize your credit card points? Enroll in Points Made Easy by visiting https://moneymeetsmedicine.com/points  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   

This episode of the Money Meets Medicine podcast, hosted by Justin Harvey and Dr. Jimmy Turner, discusses the perennial question of whether it's better to rent or buy a house, especially for medical professionals at various stages of their careers. They delve into financial considerations, personal anecdotes from their experiences, and statistical analyses, emphasizing that the decision is not always straightforward. They also touch on psychological factors, tax deductions, and the benefits of disability insurance. The narrative underscores the importance of individualized financial decisions, given varying market conditions and personal circumstances. 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  

In an episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss optimizing retirement plans, specifically addressing the complexities and benefits of 457 plans. The conversation emphasizes the need to distinguish between governmental and non-governmental 457 plans, analyzing their risks and benefits. Governmental 457 plans offer flexibility and can be rolled over into an IRA or another retirement account, while non-governmental 457s present more risks and limitations, such as forced distributions and potential employer insolvency.  The hosts discuss the circumstances under which a taxable brokerage account might be a better alternative due to its flexibility and potential for tax efficiency. They also highlight the importance of understanding one's long-term employment plans and financial goals when making these decisions. The episode includes listener questions and emphasizes the significance of disability insurance and comprehensive financial planning. Want a free copy of The Physician Philosopher's Guide to Personal Finance?  Visit https://moneymeetsmedicine.com Every doctor needs own-occupation 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, host Dr. Jimmy Turner is joined by Dr. Gita Pensa, an adjunct associate professor at Brown University and an expert in malpractice litigation stress and physician litigation support. Dr. Pensa discusses her decade-long experience with a malpractice lawsuit, the psychological and financial impact of being named in a lawsuit, and her work to support other physicians through her podcast 'Doctors in Litigation, the L Word' and her LEAP course.  Key topics include the teachings of risk management and litigation preparation, the role and ethics of medical expert witnesses, and strategies for coping with the psychological stress of lawsuits. Dr. Pensa emphasizes the importance of understanding one's malpractice policy and reframes the defendant's role in litigation to foster empowerment. The episode also highlights resources for ongoing support and education for doctors facing litigation. To learn more about the LEAP course --> moneymeetsmedicine.com/malpractice 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    

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss the benefits and drawbacks of target date funds for beginner investors, particularly residents and early-career physicians.  The conversation also touches on the pitfalls of high expense ratios in 401(k) options and the importance of diversification in investments. They advocate for simplicity in investing, stress the relevance of understanding expense ratios, and highlight the potential need for financial advisors as financial complexities increase. The episode aims to provide actionable insights and resources to help listeners improve their financial literacy and investment strategies. 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   

In this episode of the Money Meets Medicine podcast, Dr. Jimmy Turner and financial advisor Justin Harvey delve into a range of personal finance issues pertinent to medical professionals. They start with an analogy to marriage and quickly move into a discussion about balancing work and personal life, emphasizing the challenges and benefits of considering part-time work. Both hosts share personal anecdotes and professional insights on how doctors can manage their finances and work commitments more sustainably.  They also tackle the contentious subject of spousal spending habits and offer advice on aligning financial goals within a family. The episode underscores the importance of discussing values and planning concrete steps for achieving financial and personal satisfaction, all while considering unique occupational pressures faced by healthcare professionals. Want a free copy of The Physician Philosopher's Guide to Personal Finance?  Visit https://moneymeetsmedicine.com  Every doctor needs own-occupation 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 discuss key personal finance topics relevant to physicians. The conversation covers experiences with long-distance travel for sports events, the pros and cons of alternative investments, and the financial consequences of changing jobs within the medical field.  They underscore the risks involved with certain investment pitches, particularly in real estate and niche markets. The episode concludes with an update on the latest student loan changes under the new administration, including the implications of the SAVE plan's general forbearance and future repayment expectations. They emphasize financial prudence and preparation in both investment decisions and professional transitions. 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   

In this episode of the Money Meets Medicine podcast, hosts Justin Harvey and Dr. Jimmy Turner explore the topic of Bitcoin and its potential role in personal finance. Jimmy, having invested in Bitcoin himself, discusses his extensive research into cryptocurrency, including reading 'The Bitcoin Standard.' Both hosts emphasize the philosophical and conceptual aspects of Bitcoin, its deflationary nature, and its potential as a global currency.  They caution listeners about the volatility and speculative nature of Bitcoin and other cryptocurrencies, advocating for a small, strategic investment approach if considered. Throughout the unscripted conversation, they explore the implications of Bitcoin adoption, the philosophical contrast to traditional fiat currencies, and the importance of understanding one's investment rationale and risk tolerance. 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      

In this episode of the Money Meets Medicine podcast, host Dr. Jimmy Turner is joined by financial advisor Tyler Olson to discuss the primary financial priorities for physicians. The conversation covers key financial mistakes that doctors make during training, such as debt management and the need for comprehensive financial education.  They explore different financial advisory models, the benefits of accountability, and the importance of tax planning. Tyler shares insights from his 20-year career focused on financial planning for doctors and the vital role of understanding one's financial habits and needs. The episode emphasizes the significance of proactively managing finances and the various tools and services available to support physicians in making informed financial decisions. Get 10% off a contract review before you sign on the dotted line by using the code “10OFF” Https://moneymeetsmedicine.com/resolve  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    

In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey explore the complexities of buying land as an investment. After discussing their personal holiday experiences, they dive into a listener's question about purchasing land for personal use and enjoyment versus financial gain.  They highlight the importance of understanding the purpose of the land purchase and differentiate between buying land for family recreation and speculative investment. The discussion also touches on zoning laws, financing options, and risks associated with land investment. Additionally, they address the emotional value of creating family memories through land ownership, even if it involves financial stretching. Are you a physician? Then you need disability insurance. Get it from a source you can actually trust by visiting https://moneymeetsmedicine.com/disability Not sure where to start on your financial education journey? 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, host Dr. Jimmy Turner converses with Dr. Gretchen Green, a radiologist and expert witness educator, about lucrative non-clinical income opportunities through expert witness work. The discussion covers Dr. Green's journey, including her North Pole expedition and her experiences in medical malpractice cases.  They delve into the practicalities of starting an expert witness business, including setting fee schedules, managing time effectively, and overcoming common barriers such as undercharging and ethical concerns. They also touch upon Dr. Green's Expert Witness Startup School, a comprehensive course aimed at helping physicians transition smoothly into this field. Looking to start your expert witness side gig? Learn how at the Expert Witness School. Click here to learn more: https://moneymeetsmedicine.com/expert  

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 

Many people have a Health Savings Account (HSA) available to them. But should you use it? And, if you do, what are the best practices for utilizing the money inside an HSA. In this show, Dr. Jimmy Turner and Justin Harvey CFP discuss investing inside of an HSA, how to take the money out, and other items you should consider before using an HSA.  Want a free copy of my Dr. Turner''s best selling book The Physician Philosopher's Guide to Personal Finance? Visit https://moneymeetsmedicine.com  Every doctor needs own-occupation disability insurance. To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability

Financial stress and anxiety is a reality of being human. Are there ways we can know when the stress is coming so that we can prevent (or treat) the financial anxiety that comes along with it? Tag along as Justin Harvey CFP and Dr. Jimmy Turner discuss a recent example of financial stress Jimmy has faced, financial planning, emergency funds, entrepreneurship, and more.  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  

People love talking about saving money to get to financial independence. Not enough people talk about the cost of saving a lot of money and the impact that has on your life. Are you saving too much? Are you living a life with no regrets? Listen in as Dr. Jimmy Turner and Justin Harvey CFP discuss the goal of dying with zero. Want me to give a free virtual talk for your residency? Email me at jimmy@moneymeetsmedicine.com 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  

A 10% correction will happen, on average, every 1.5 years. You will experience a true bear market of more than a 20% loss multiple times in your investing life. Knowing this, though, doesn't tell you what to do about it. In this episode Jimmy Turner, MD and Justin Harvey CFP discuss mindsets, strategies, and tactics for what you can do when the stock market takes a dive. Want a free copy of The Physician Philosopher's Guide to Personal Finance?  Visit https://moneymeetsmedicine.com Every doctor needs own-occupation disability insurance.  To get it from a source you can trust? Visit https://moneymeetsmedicine.com/disability    

Cash balance plans: Huge tax savings? Or a big pain in the backside? On this show, we discuss what cash balance plans are, what's good about them, what's bad. And, most importantly, who is the kind of person that would benefit from using a cash balance plan. Check out the Money Meets Medicine YouTube Channel: https://www.youtube.com/@MoneyMeetsMedicine 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  

A taxable brokerage account is one of the most flexible ways to invest your money. And, if you play the game right, you can also reduce taxes in this account in such a way that it may become your favorite type of investing account. In this episode, we discuss short and long term capital gains, how to minimize capital gains taxes, how to potentially pay zero dollars in capital gains taxes in early retirement, and the importance of understanding how these accounts work. 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  Safe Harbor Rules: https://www.irs.gov/payments/underpayment-of-estimated-tax-by-individuals-penalty  

There are a lot of things to consider before you reach financial independence and retire. One of those items is what you'll do with your life, including if you'll work after financial independence. This is a problem often left unsolved until retirement, which can cause havoc if not dealt with sooner. 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  

What if you feel like you haven't saved enough? Are there options to help you catch up? In this show we discuss what to do if your savings aren't quite where they need to be to retire by the age you want, including catch-up contributions, earning money in retirement, social security, and more. Every doctor needs own-occupation disability insurance. 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  

Doctors are often told in the financial space to "live like a resident." Yet somewhere between the YOLO-spend-it-all mentality and the idea of living like a resident as an attending physician is a better and more moderate view of personal finance. In this show, we discuss why it is difficulty for many doctors to spend money once they learn about personal finance and the two different times in the journey this can plague people.  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  

July is a time of transition for many doctors. Whether you are a medical student becoming an intern or a fellow becoming an attending physician, there are some financial tasks that are top of mind this time of year. Tune in as we discuss everything from student loans and asset protection to estate plans and financial education.   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    How To Think About Money by Jonathan Clements: https://www.amazon.com/Think-About-Money-Jonathan-Clements/dp/1523770813/   Three Kinder Questions: https://thephysicianphilosopher.com/guides/three-kinder-questions/