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On Money Meets Medicine, Jimmy Turner, MD from The Physician Philosopher and Ryan Inman, a fee-only financial advisor, combine their experience to teach you about the personal finance topics you wish you had learned in medical school. The MMM podcast will help you tackle your student loans, achieve financial independence, invest for retirement, and decrease your financial stress and burnout. Come find out how much you can learn about money with the experience and perspective of a physician a ...
 
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Have you ever felt like things are getting really heavy? And that you need to make a change? That is what we are going to do today on the show today. We are going to pull back the curtain and talk about things that have been going on in our lives. Often people don’t think about the lives of the people behind the YouTube videos or podcasts like this…
 
Have you ever felt the tension between needing to save more money (or pay down debt) and the human need to enjoy today? There is a phenomenon that happens in both coaching and personal finance, people learn the tools and then use the tools against themselves. So today we are discussing why you should make that big purchase you have been depriving y…
 
Physician turnover is high, specifically after the first 2-5 years of training. With doctors changing jobs so often, it is important to establish an emergency fund early on (and to consider the cost of leaving a job in medicine). So today we wanted to dive into why everyone, including us, says you need an emergency fund, where you should put that m…
 
Our brains are not wired to think exponentially. They are wired to think linearly. Maybe this explains why so many doctors, well people in general, don't invest early enough and take advantage of one of our favorite tools- compound interest. We like to believe that compound interest is the eighth wonder of the world. So on today's episode of Money …
 
As a physician, our goal is to help you make your money work for you. Help you get the things in life that you want. Pay down debt, spend on things you love, and... learn how to make more money from your money. One of the ways to do this is to save money. Today on Money Meets Medicine we are going to deep dive into how you, as a high-earning physic…
 
Last week on the podcast we started the ultimate financial checklist of must-dos for doctors. This is such an important topic and we didn't want to leave you hanging last week without the complete list. So this week we are picking up where we left off. Take out your notes and finish marking down the things you must do for your financial health as a…
 
Making sure you set yourself up for financial success is one of the reasons we bring you this podcast every week. So we have come up with the Financial Checklist for Doctors that will help you position yourself for success when it comes to your personal finances. If you have been wondering if you are checking the right boxes and doing the "right" t…
 
Odds are you have been pitched Whole Life Insurance and have no idea if it's a good idea or a bad idea. Since it is so common for a physician to get this pitch, we thought it would be good to discuss on the podcast so we could help you through what Whole Life Insurance even is, where the conflicts of interest are, the different life insurance optio…
 
We don't want you getting free steak dinners, but making horrible decisions for your long-term investments. There is a lot of misinformation out there for physicians when it comes to personal finances. We don't want you to make the mistakes that most physicians do simply because you didn't know any better. So today on the podcast we are going to ta…
 
The personal finance space is full of rules. Things you should be doing with your money and things you should stop doing with your money. Certain numbers you should be aiming for at specific points in your life. But do you really need to follow every single money rule out there when it comes to personal finance? That is the question we are addressi…
 
People often think about money as the end goal. The reason they work, save, and make decisions in life revolve around this idea that they are striving to meet a money goal. But today we are going to flip the script on this mindset around money. Instead of thinking of money as the goal, we are going to look at money as a tool. In today's episode, we…
 
Everyone in the personal finance space loves to tell you how you should save money. That's great, but what about spending it? That is exactly what we want to dive into today on the show. Ways to spend money that make sense we have talked about before include spending to get your time back, vacations, and spending on others (gifts, holidays). But to…
 
You might think that the only person that influences your financial success in the short term and the long term is you. The truth is you can have little to do with how successful you are in planning out your finances and investing. This is because there are certain people in your life that influence what decisions you make and how. These people ult…
 
Life is complicated. Sometimes it might seem like people think you don't invest because you are living in the now, but we know that is not usually the case. Instead, you are trying to make real-life, tough decisions like should you save for your kids' college or your own retirement? What if you need to help out your aging parents? How do you still …
 
We recently shared our top financial rules for success and our listeners wanted more. Specifically, our listeners that are current residents wanted to understand exactly what they should be doing and taking care of before graduating from training. So that is exactly what we wanted to share. In today's episode, we will explain why you don't have to …
 
There are so many different investment strategies when it comes to how to reach financial independence. One of those strategies we talk about often are the different types of Target Date Funds. But, you might be thinking how do you know if you should use Target Date Funds? Today we will get into the details of the good, the bad, and the ugly when i…
 
You are becoming a financial guru. You have put in the work to understand your finances and all of the options you have available to you, congratulations! But there is one thing you can't seem to figure out - how to get your spouse interested in financial strategies. Together you discuss the future and what your money will be able to do for you, bu…
 
Money isn't everything, but money is a tool that allows you to live life however you want. However, too many people think that getting to financial independence means you have to chase it while you're young. In today's episode, you might be surprised to hear why we don't recommend this and what you should be doing (and when) to reach financial inde…
 
What if the only thing holding you back from financial freedom was your mindset? When it comes to your money mindset there are two main schools of thought - the Scarcity Mentality and the Abundance Mentality. There are some dangerous, limiting money mindsets that can come from a place of scarcity. What could happen if you traded these thoughts out …
 
Doctors are talking more and more about side gig income outside of their typical W-2. This income can be great on your path toward financial freedom, or it can be fraught with mistakes. So, why would a busy doctor pursue income outside of medicine when they can just work extra shifts? Find out why on today's episode where we dig into the benefits o…
 
Let's face it, there will never be another Warren Buffett ever again. But there are certain things you can do to start building your wealth like Warren. The sooner you can start taking action on this advice will better your long-term financial wealth! Do you need a bank that specializes in giving medical students, residents, and practicing physicia…
 
Money is a tool that helps us live the life we want, or keep us trapped in a lifestyle that we can't afford. One of the easiest ways to fall into this lifestyle trap is by thinking in terms of monthly payments. Ryan and Jimmy are here to remind you that if you think you can afford something through monthly payments, then you really can't afford it.…
 
No one knows when a market crash is going to happen. It could be as soon as you listen to this podcast episode, or it could be 10 years down the road. This causes people to panic at the slightest sign of a downturn. That's why Ryan and Jimmy are here to make sure you feel prepared to weather any financial crisis. Do you want to achieve the financia…
 
Most doctors switch employers within 2-5 years of starting their first job because of burnout, need to be closer to family, or having to work with Jimmy. Considering these changes happen so frequently in the medical field, Ryan and Jimmy want to make sure that if you are considering switching employers, that you avoid these financial mistakes you c…
 
When you finally reach the promised land of being debt-free, the big question you probably have is: What's next? Ryan and Jimmy want to make sure that after you've paid off your debt you have the right mindset and know what to do. Even if you are currently paying down debt, this episode will help you figure out your plan so you can be prepared for …
 
You may call it woo-woo stuff, but both Ryan and Jimmy are huge proponents of life planning when figuring out your financial plans. Savings and Finances are never just about the 1's and 0's, it's about figuring out what makes you happy and what's important in your life helps you get a clearer picture of how to save. Plus you know it's something you…
 
Everyone is allowed to get excited about buying a house. It's a huge achievement! However, Ryan and Jimmy want to make sure you avoid the dream house fallacy, by spending more on a house that you're likely to move out of in a couple of years. It's more important how you spend your time in the house, not what is in the house. Do you need help making…
 
Ryan and Jimmy discuss important questions you need to consider before jumping into your non-clinical side business. Pursuing non-clinical income is not for every medical professional. Some people are happy with their jobs and lifestyles, and others know that they are not cut out for working as an entrepreneur, and that's okay! Have you been flirti…
 
Ryan and Jimmy go back and forth on the pro's and con's of paying off debt vs investing during a time when interest rates are at historic lows. Like everything in personal finance, your situation may vary, but Ryan talks about how it might even make sense to take out debt because rates are so cheap. Do you need help understanding and maximizing you…
 
This episode is going to make you mad that you didn’t realize this was the one thing you could be doing to make a ton of money. While we talk about FOMO being a bad influence on people’s decision making, maybe this piece of advice will be the exception? As a reminder, all praise for this technique can be sent to ryan@moneymeetsmedicine.com and all …
 
Last week Jimmy shared his 5 rules for healthy financial habits. Not wanting to be out done, Ryan is up this week sharing his top 10 rules for healthy financial habits. And you better believe that Jimmy is taking every chance to heckle Ryan while he can. Are you tired of dealing with headaches like finding and retaining quality billing staff? Get i…
 
Jimmy takes the stage this week to share some of his personal finance rules that he thinks everyone should follow. Don't feel bad for Ryan though, he gets to heckle from the peanut gallery at everything he disagrees with until he shares his rules next week! Do you need help reviewing your employment contract before you sign? Reach out to Resolve at…
 
Last week, Jimmy shared one of his biggest financial mistakes. Now. it's only fair that Ryan shares his this week! Though Ryan isn’t a doctor himself (only married to one!), many of his mistakes can relate back to common mistakes doctors make all the time! If you want to avoid making your finances a raging dumpster fire, then you probably will like…
 
As much as they don’t like to admit it, Ryan and Jimmy have made some huge financial mistakes. Jimmy will share the financial mistake he made while in med school that he hopes can be a lesson for everyone listening. Learn from Jimmy’s misstep to understand disability insurance and why you need to do your research! If you are looking to reduce your …
 
It’s hard to resist the sexy, trendy financial investment that everyone wants to get into these days: Real Estate. However, just because it’s popular, doesn’t mean you should go out and buy the first property you see. Explore the highs and lows of real estate investing with Ryan and Jimmy. As a Doctor, you don’t specialize in the intricacies of con…
 
From crowdsourcing personal finance feedback on social media, to the talking heads on TV giving out "hot stock tips", Ryan and Jimmy caution you to not fall into thinking strangers advice is good advice. There is a reason we keep adding disclaimers to our show: personal finance is personal. Make sure that when you listen to advice online you keep t…
 
Have you heard the news on what’s happening with GameStop, AMC, and Tesla? Tune in to hear all about how Ryan might have lost $30K on the craziness going on RIGHT NOW! Jimmy and Ryan tear into all the latest details on how the hedge funds might have really messed up this time. Fight physician burnout while learning how to build a non-clinical incom…
 
When it comes to retirement, we all have a tendency to focus on the accumulation of wealth, not on how to make it last. Ryan and Jimmy explore ways to save for retirement AND maintain your standard of living. Finding your safe withdrawal rate can help you save and adjust for a more cushy nest-egg. If you need a smarter and more effective way to mon…
 
People love talking about the "home runs" they make with their investments. Jimmy and Ryan are here to pull back the curtains on these risky, speculative investments! Instead, you should be focusing on the less "sexy" but safer bets to grow your wealth steadily. Do you want to fully understand your worth and maximize your full potential with your e…
 
Do you dread the idea of being a landlord but still want to get into real estate investing? Then this show is for you! Ryan and Jimmy go into how you can have the best of both worlds with passive real estate investing in the second of this 2 part series on how to create your real estate empire. Before we go, just a reminder to reach out to John McC…
 
Interested in learning more about real estate investing and how you could use it to achieve financial independence? Jimmy and Ryan tackle how to start building your real estate empire both actively and passively in this 2 part series. Learn about diversifying your clinical income, tax benefits and more! Looking for a financial advisor that will hel…
 
Ryan and Jimmy grinch out a little on financial resolutions, but hey if it gets you motivated, they are here to give you a few ideas for financial resolutions to springboard you into a financially savvy new year! Principal Financial is getting rid of their unisex discount at the end of 2020, so women physicians are looking at an increase in their r…
 
Ryan and Jimmy go back and forth on their ideas of how to raise financially savvy kiddos. Get some great tips and tricks from these financially fit dads! Be confident that you have the right policy at the best price possible with Pattern Disability Insurance! Get your quote today www.physicianphilosopher.com/patterninsurance…
 
Are you ready to get that backdoor Roth contribution in before the end of the year? Starting high level with what is a backdoor Roth all the way to the nitty gritty, Ryan and I are going to go through what the whole process is all about! Principal Financial is getting rid of their unisex discount at the end of 2020, so women physicians are looking …
 
We all make mistakes at some point or another, it’s a part of life. However, there are ways to prevent financial mistakes from happening by knowing what to watch out for! In today’s episode we are going to cover the biggest mistakes people make financially and how to correct them. Be confident that you have the right policy at the best price possib…
 
We are in the middle of a pandemic and with many doctors working on the front-lines, it brings up the really important question... Do you have your financial house in order? We are going to cover why you need an estate plan (and no its not just for the wealthy) to help you be prepared for whatever may come your way. Be confident that you have the r…
 
Ever feel like your insurance agent doesn't have your best interest at heart when selling you products? Ryan and I are going to give you the non-conflicted version of the Term vs Whole Life debate. We will cover the upsides and downsides to both types of policies. Have you heard about the Financial Residency medical student scholarship? 10 students…
 
Have you heard of a HSA? Confused as to what they are and how to use them? Well then, keep listening as Jimmy and I get into the ins and outs of Health Savings Accounts: what they are, what they do and what they are not (spoiler alert these are NOT the same thing as a FSA)! We are looking for 10 lucky medical students to win a $5000 scholarship fro…
 
We talk all the time about achieving financial freedom but have you caught on to the steps for doing that from this show? If you’ve got entrepreneurial bones and you want to achieve a life of your dreams, I’m here to tell you that you absolutely freaking can. Both Ryan and I dig in deep on how to build a business that might not be medically related…
 
Delayed gratification, saving vs. spending, spending over saving… all of that happens to impact how you become rich. Or does it? Tune in as Ryan and I discuss why curbing your spending on these “big 5” will help or hurt your chances of becoming a bagillionaire. Take control of your financial future, find The Physician Philosopher online: www.thephy…
 
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