Shows
Physician Family Finances Podcast; Personal Finance for Doctors with Children529 Saving Surprises: What Can Physicians Do With an Overflowing College Fund?We all love it when something costs less than we think it will, especially something pricey like college. If you plan to send your kids to a private university and they go to a state school, what can you do with the extra money? Listen in as Nate Reineke and Ben Utley celebrate graduation season and break down the most effective ways to save for college and what you can do with leftover 529 funds. We also answer your colleagues’ questions. 529 vs HYSAA cardiologist in Oregon is curious which is bett...2025-06-0428 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenExterminating Emergencies: How can Physicians cover unexpected expensesBug infestations are stressful. Having an established relationship with a “bug guy” helps exterminate that stress. All emergencies are more stressful when you try to handle them alone, but having a financial planner who enables you to understand where funds can come from helps decrease your stress. Listen in as Ben Utley and Nate Reineke discuss what funds you should use to save for retirement and how those funds help cover you in an emergency. We also answer your colleagues’ questions. Changing Advisors An ENT in Florida is changing advisors and wants to know if a...2025-05-2829 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenFishing for Conversions: Physician Mistakes on Backdoor Roth AccountsIf fishing were easy, they’d call it catching. If backdoor Roths were easy, they’d call it a loophole. Listen in as Nate Reineke and Ben Utley answer a cumbersome backdoor Roth question from a physician who fears they made a mistake, but the answer may be simpler than anticipated. We also answer your colleagues' questions. Investing Now: A retired physician in Alaska has a large nest egg, and they are concerned about the current economic and political situation. They want to know the best way to invest the cash. 2025-05-2129 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenFrom Scrubs to Shrubs: A Doctor’s Guide to Financing a HomeBuying a home is hard. As a physician, you want to make sure you get the best rate, use the right type of loan, and avoid the mistakes that drag out the process. Listen in as Ben Utley and Nate Reineke dissect the complex and confusing world of home buying with special guest and mortgage loan specialist Robert Hedges. Together, they answer your colleagues' concerns about how to find the best mortgage broker, when it is smart to buy points, and what up-front fees physicians should look out for. If you are looking for your dream house a...2025-05-1456 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysicians, Flowers, and 403(b)s: A Mother’s Day Finance ChatLet's be real here: You spent your first 20 years of life rolling your eyes at your mom's advice and the rest of your life realizing she was right. So right now, make sure you have a table reserved (or groceries bought) and flowers ready for Mother’s Day. Listen in as Ben Utley and Nate Reineke answer a tough listener question about whether the Roth 403b or a traditional 403b is right for a neurosurgeon from Maryland. We also answer your colleagues' questions. Car BuyingA surgeon in Connecticut says, “We are looking to buy...2025-05-0727 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenDoctor dad’s dilemma: Juggling Kids' Activities and Retirement RealityYour kids are growing up fast. That means more activities to keep track of on top of all your other commitments. How can you juggle being there for your family and working enough to save for retirement? Listen in as Nate Reineke and Ben Utley provide some tips on how to keep all the balls in the air while still planning for the future.We also answer your colleagues' questions. Retirement Investing: An ENT from Kansas City who is moving and changing jobs wants to know what we think of some advice t...2025-04-3023 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenIs tax-loss harvesting a bad idea for physician investors?Influenza. It’s a word that sounds ominous when you don’t know what it means. To a physician like you, influenza is nothing more than the average flu, but to a patient, it may sound scary. Does tax-loss harvesting sound extreme or even dangerous to you? Listen in as Nate Reineke and Ben Utley explain what tax-loss harvesting is and how your colleagues are using it right now to save taxes.We answer some other questions you may have asked yourself. Market volatility:An ER/ crit care doc in Massac...2025-04-2328 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenMarket goes bananas: What should physicians do?Bananas are cheap but not as cheap as they used to be and the price of almost everything else is going up faster than a monkey up a tree. Everything else but stock prices that is. We’ve gotten several questions from physicians like you essentially asking “What should we do?” Ben Utley breaks down questions about tariffs, taxes, the economy, markets, and what you should or shouldn’t do about it. Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and...2025-04-1614 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenRight before retirement, what should physicians buy?Spring has sprung just like the freshly assembled Adirondack chairs in Ben’s back yard. Fumbling around while constructing Costco lawn furniture is normal, Ben proves that, but, you don’t want to stumble around with your backdoor roth. You also don’t want to be caught off guard by big surprise expenses in retirement. Nate Reineke and Ben Utley breakdown some of the major life events and expenses physicians like you should consider before retirement including home improvements, grandkids, grad school and weddings! We also answer the questions your colleagues are asking. 2025-04-0923 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysicians ask: Does PSLF still work?Things in the government are changing but, you already knew that, right? What you may not know is that public student loan forgiveness is still alive and well! Nate Reineke and Ben Utley discuss one pediatrician’s five year journey to student loan debt freedom.They also discuss the other listener questions below. A radiologist in Ohio asks if I save my money into a 529, will it grow like my other investments? A family physician in New York wants to know, is there a downside to increasing my usual investments during the recent corr...2025-04-0218 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenInvesting with a Deadline: What's a Doctor's Best Move?Introduction:In this new episode, hosts Nate Reineke and Chelsea Jones tackle the crucial topic of investment strategies for physicians with deadlines, particularly when facing urgent financial goals such as buying a home or addressing student loans. They share insights on how to optimize investments while managing risk.Summary:Join Nate and Chelsea as they explore the considerations physicians should keep in mind when investing with a deadline. This episode addresses listener questions about housing decisions, investment timing, and how to balance short-term financial needs with long-term...2025-03-2633 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysicians still confused about backdoor Roth basicsIntroduction:In Episode, hosts Nate Reineke and Ben Utley delve into the complexities of the backdoor Roth IRA, a popular strategy for high-income earners. They address common misunderstandings and provide clarity on how to navigate potential pitfalls, such as the pro-rata rule.Summary:Join Nate and Ben as they explore the backdoor Roth IRA process. This episode tackles listener questions about bond discounting, the emergency fund allocation into bonds, and strategies for buying a house while staying on track for retirement savings. The focus is on clarifying...2025-03-1922 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenHow much DO physicians spend ? And save ?Introduction:In this episode, hosts Nate Reineke and Ben Utley dive into the often-asked question: How much do physicians actually spend and save? They explore spending patterns among doctors, discuss financial strategies for managing student loans, and examine the importance of striking a balance between work and family life.Summary:Nate and Ben discuss the financial challenges faced by physicians, particularly when it comes to managing expenses and savings. They address a range of listener questions, from paying off student loans to investment strategies and spending habits...2025-03-1224 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenBecoming a Physician Mom Again in your 40's! Now what?Introduction:Welcome to Physician Family Financial Advisors Podcast. In this episode, hosts Nate Reineke and Ben Utley address the joys and financial complexities of becoming a physician mom in your 40's, and what that means for your financial planning moving forward.Summary:Join Nate and Ben as they explore the financial considerations and strategies for physician families, particularly those experiencing major life changes like having another child later in life. They discuss how to balance short-term needs with long-term goals and the importance of saving for both college and retirement. The episode also...2025-03-0536 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysician forever home mortgage, why not pay points?Episode Summary:In this episode Nate Reineke and Ben Utley discuss the nuances of mortgage options for physicians, specifically focusing on the decision to pay points. The hosts explore the implications of mortgage rates, the impact of short-term versus long-term holding periods, and how physicians can navigate the complexities of home financing.Key Takeaways:- Understanding Mortgage Points: Purchasing points can lower mortgage interest rates, but the decision depends on how long the mortgage will be held.- Balancing Costs and Benefits...2025-02-2632 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysicians ask, "What if Trump…?"Episode Summary:In this episode, Nate Reineke and Ben Utley discuss the potential financial implications for physicians in light of recent political changes, particularly focusing on the questions surrounding government policies and public service loan forgiveness (PSLF). They also address listener inquiries about financial planning for 2025, including insights on donor advised funds (DAFs), retirement strategies, and health insurance considerations.Key Takeaways:- Impacts on Federal Benefits: The conversation regarding the safety of federal pensions and benefits under changing administrations is crucial for physicians with federal employee status.2025-02-1928 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhat Physicians Should Think About Funding Their 529 planEpisode Summary:In this episode, Nate Reineke and Ben Utley discuss important considerations for physicians when funding their 529 plans. The hosts share insights from personal experiences, highlight the significance of effective savings strategies, and address listener questions related to college savings and financial planning.Key Takeaways:- Funding a 529 Plan: Physicians should consider their financial goals and the educational needs of their children when deciding how to fund their 529 accounts.- Managing Bonuses: Strategies for directing quarterly bonuses into consistent savings can...2025-02-1226 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenTurning Quarterly Physician Bonuses Into Monthly SavingsEpisode Summary:In this episode, Nate Reineke and Ben Utley explore strategies for turning quarterly physician bonuses into effective monthly savings. They share insights into managing unexpected income and address listener questions about donor advised funds (DAFs), retirement planning, and the impact of health insurance on financial goals for physicians.Key Takeaways:- Utilizing Quarterly Bonuses: Physicians can allocate quarterly bonuses to create a more stable monthly savings flow, helping to offset expenses and build wealth over time.- Tax Benefits of...2025-02-0518 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhat is the best college savings goal for doctors ?Episode Summary:In this episode, Nate Reineke and Ben Utley explore the best college savings goals for doctors. They discuss strategies for saving effectively for education expenses and address listener questions about donor advised funds (DAFs), 529 accounts, retirement planning, and the overall financial implications for medical professionals and their families.Key Takeaways:1.Tax Benefits of DAFs: Donor advised funds may provide significant tax advantages when donating to charities.2.Building Educational Wealth: 529 accounts serve as a practical method for families looking to save for college expenses.3.Health Insurance Considerations: Physicians...2025-01-2934 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenCan Donor Advised Funds Cut Doctors Taxes Twice ?Summary:In this episode, Nate Reineke and Ben Utley explore how donor advised funds (DAFs) can provide significant tax benefits for physicians. They return from their holiday break to answer important listener questions about DAFs, 529 accounts, retirement savings strategies, and the implications of health insurance on financial planning for doctors in 2025.Key Takeaways:1. Tax Savings with DAFs: Donor advised funds provide an opportunity to reduce taxes twice—first when making donations and again during the distribution to charities.2. Building Educational Wealth: 529 accounts serve as a to...2025-01-2246 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhat will the biggest physician financial question be for 2025Episode Summary:In this episode, Nate Reineke and Ben Utley explore what the biggest physician financial question will be for 2025. They kick off the new year by addressing listener questions about financial planning strategies, touching on important topics such as 529 accounts, target date funds versus robo-advisors, Medicare enrollment, and mortgage payoff decisions.Key Takeaways:1. 529 accounts can effectively build educational wealth for future generations, especially for families with children planning to pursue further education.2. Target date funds offer a more automated investment approach...2025-01-1525 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenCracking The Purpose Code with Jordan Grumet MDEpisode Summary:Join Nate Reineke and Ben Utley as they welcome Jordan Grumet, also known as Doc G, author of The Purpose Code and host of the Earn and Invest podcast. They discuss the vital connection between purpose and financial well-being, providing insights on navigating burnout and rediscovering joy in the medical profession.Guest Info:Jordan Grumet, born in Evanston, Illinois in 1973, found the spark to become a doctor after a deeply personal event reshaped his life’s trajectory. The unexpected loss of his father, an oncologist, ignited a passion within him to pr...2025-01-0837 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenInterest Rates: What doctors need to know nowEpisode Overview:In this episode, Ben Utley and Nate Reineke address the important topic of interest rates and how they might affect your financial decisions as a healthcare professional. They explore the potential impact on your investment portfolio and offer considerations for mortgage refinancing, aiming to provide insights that could be valuable for your financial management.Key Highlights:1. Understanding Interest Rates: - Ben and Nate discuss how interest rates can influence your investment choices and highlight the importance of staying informed to enhance your financial...2024-12-1831 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenHow Much Crypto Should Doctors Own?Episode Overview:In this episode, Ben Utley and Nate Reineke tackle the question of how much cryptocurrency is appropriate for doctors to own. They cover important considerations, such as the lack of inherent value in crypto compared to traditional investments like stocks and bonds. This episode also addresses a variety of financial topics relevant to physician families, from 529 plan strategies to managing cash reserves and understanding investment policy statements.Key Highlights:1.Cryptocurrency for Physicians: -Ben and Nate explore whether doctors should own cryptocurrency and conclude that, given the lack of inherent...2024-12-1121 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenCan Physicians with Chronic Conditions Benefit from HSA?Episode Overview:In this episode, Ben Utley and Nate Reineke address the question: Can Physicians with Chronic Conditions Benefit from HSAs? They tackle various financial inquiries from listeners, offering insights and advice crafted for physician families. The discussion covers topics such as the use of 529 funds, strategies for Roth IRA conversions, optimizing 403(b) contributions, and maximizing benefits from health savings accounts (HSAs), particularly for those with chronic conditions.Key Highlights:1. Using 529 Plans: - Ben and Nate explain the scope of using 529 funds...2024-12-0422 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhy should physicians own bonds?Episode Overview:In this episode, Ben Utley and Nate Reineke discuss the often-overlooked topic of bonds and their role in a physician's investment portfolio. The conversation addresses a listener's question about the various types of bonds and how they could fit into a diversified investment strategy.Key Highlights:1.Understanding Bonds: - Ben and Nate explain that bonds function as loans and can provide steady income, contrasting them with the volatility associated with stocks.- They outline different types of bonds, including Treasury bonds, municipal bonds, and corporate bonds, highlighting...2024-11-2738 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould physicians who plan to work as long as possible have an aggressive investment portfolio?Episode Overview:In this episode, Ben Utley and Nate Reineke explore the complexities of maintaining an aggressive investment portfolio for physicians who might work well into their later years. The discussion addresses how long-term career goals could influence investment strategies, considering factors like risk tolerance, market conditions, and personal financial objectives.Key Highlights:1. Eligibility Criteria for Solo 401(k)s: - Ben and Nate clarify the eligibility requirements for solo 401(k)s, particularly for those earning both W-2 and 1099 income.2.Distinctions Between HSAs and...2024-11-2025 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould physicians pay off their mortgage or invest more before retiring ?Episode Overview:In this episode, Ben Utley and Nate Reineke discuss the question of whether it might be advisable for physicians to prioritize paying off their mortgage or investing additional resources as they approach retirement. The discussion highlights the balance between managing debt and exploring investment opportunities while addressing the unique financial challenges faced by physician families. Through professional insights, the hosts aim to help listeners make informed decisions that align with individual financial goals.Key Highlights:1. Transition to Empty Nesting: - The hosts explore how the transition...2024-11-1328 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenHow should physicians adjust their investments right before retirementEpisode Overview:In this episode, Ben Utley and Nate Reineke focus on the important topic of investment adjustments that physicians might want to consider as they approach retirement. They explore how these adjustments could affect financial stability and long-term goals while addressing common questions faced by physician families. Through personal anecdotes and professional insights, the hosts offer actionable advice for managing investments effectively in the years leading up to retirement.Key Highlights:1. Understanding Investment Strategy Shifts: - The hosts emphasize the importance of adjusting investment strategies as retirement...2024-11-0623 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould we push hard now and slow down in our 50'sEpisode Overview:In this episode, Ben Utley and Nate Reineke address the important question of whether physicians should focus on intense work and savings early in their careers to achieve the possibility of slowing down in their 50s. They discuss the financial implications of this approach, answer listener questions about managing student loans, and emphasize the necessity of aligning financial planning with personal life goals. The hosts share insights on balancing career ambitions with meaningful life experiences as families grow and evolve.Key Highlights:1. The Push Hard...2024-10-3023 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould we put all our resources toward our student loans?Episode Overview:In this episode, Ben Utley and Nate Reineke address essential financial decisions that physician families might encounter, particularly regarding student loan management and resource allocation. They explore strategies that could help find a balance between repaying student debt while pursuing other financial goals, such as saving for retirement and funding children's education. The discussion presents relevant examples and practical insights, highlighting how thoughtful financial planning could support the overall well-being and financial security of families.Key Highlights:1. Transition to Empty Nesting: - Ben...2024-10-2324 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenAm I eligible for a Solo 401k ?Episode Overview:In this episode, Ben Utley and Nate Reineke explore the specifics of solo 401(k) eligibility for physicians. They address common misconceptions and complexities related to retirement accounts, discussing various financial strategies that physicians might consider as they advance in their careers. The hosts share insights into the benefits and limitations of a solo 401(k), along with personal anecdotes and professional experiences.Key Highlights:1. Understanding Solo 401(k) Plans: - Ben and Nate explain the concept of a solo 401(k) and its primary benefits for...2024-10-1626 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould I open an ABLE account for my child with a disability?Episode Overview:In this episode, Ben Utley and Nate Reineke discuss the importance of financial planning for families with children who have disabilities, focusing on the benefits of ABLE accounts. They explain how these accounts can enhance financial security and improve the quality of life for individuals with disabilities. The hosts share personal anecdotes, address common questions, and emphasize the necessity of proactive planning to meet the unique challenges faced by these families.Key Highlights:1. Introduction to ABLE Accounts: - ABLE accounts, or Achieving a...2024-10-0922 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPension or 403b: Which should I choose ?Episode Overview:In this episode, Ben Utley and Nate Reineke explore the important decision-making process physicians face when selecting between pension plans and 403(b) retirement plans. They discuss the specifics of each option, focusing on how these choices could affect long-term financial stability. The conversation covers common questions around retirement savings, tax considerations, and the role of financial planning as part of a comprehensive strategy for family financial health. Ben and Nate provide insights to help listeners make informed decisions that align with their personal goals and unique situations.Key Highlights:2024-10-0222 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould my taxable account mirror the investments in my Roth IRA?Episode Overview:In this episode, Ben Utley and Nate Reineke explore important considerations for physician families regarding investment strategies. They discuss whether taxable accounts should mirror the asset allocation of Roth IRAs, the intricacies of life insurance needs, and the significance of proactive identity protection. The hosts share personal stories and practical tips that could help physicians optimize their financial plans based on their unique situations.Key Highlights:1. Importance of Asset Allocation: - Ben and Nate explain how the asset allocation strategy might differ between...2024-09-2529 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenAt what net worth should I begin a financial plan?Episode Overview:In this episode, Ben Utley and Nate Reineke address a key question: At what net worth should you begin a financial plan? They explore various financial challenges faced by physician families, including investment opportunities, insurance needs, and handling unexpected financial situations. Drawing on real conversations with physicians, Ben and Nate offer practical insights to help listeners make informed financial decisions.Key Takeaways:1. Investing in Medical Office Buildings: - One physician considers investing in the medical office building where they practice. Ben and Nate...2024-09-1829 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhat Insurance Strategies Should you Consider for your Future?Episode Overview:In this episode, Ben Utley and Nate Reineke address various financial situations and questions from physician families, focusing on investment strategies, insurance options, and the effective management of inherited assets.Key Points:1. Investing $700,000: - The hosts discuss a question from an OB-GYN with $700,000 in their bank account. They emphasize the importance of having a comprehensive financial plan that includes considerations for living expenses, emergency funds, short-term goals, and long-term objectives such as retirement and education savings.2. Emergency and...2024-09-1133 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenAre adjustable rate mortgages right for you?Episode Overview:In this episode, Ben Utley and Nate Reineke discuss important financial topics for physician families, including managing inherited assets and evaluating insurance coverage. They also touch on relevant investment strategies and mortgage options in today's financial climate.Key Points:1. Consolidating Inherited Accounts: Streamlining inherited IRAs and retirement plans can simplify management and make calculating required minimum distributions (RMDs) easier.2. Disability Insurance Considerations: - A careful assessment of the necessity for disability insurance is vital, particularly as...2024-09-0431 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould you increase stocks before retirement?Episode Overview:In this milestone 80th episode of the Physician Family Financial Advisors podcast, Ben Utley and Nate Reineke celebrate their journey before addressing pressing financial questions from their listeners. The discussion covers essential topics such as maximizing health savings accounts (HSAs) under COBRA, best practices for rebalancing taxable accounts, and strategies for managing taxable gains. The hosts also examine college savings options, weighing the advantages and disadvantages of 529 plans versus taxable accounts, along with tips for handling unexpected housing costs. Finally, they discuss the considerations around increasing the stock allocation in a portfolio for those approaching...2024-08-2835 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenGreat income and a job I love but no balance - What should I do?Episode Overview:In this episode, Ben Utley and Nate Reineke explore estate planning and work-life balance with a focus on the unique needs of physicians. They share strategies for securing your financial future while enjoying a fulfilling personal life. The hosts discuss the key differences between wills and trusts, the significance of durable power of attorney and health care directives, and the straightforward approach of freezing your credit to prevent identity theft. Listeners will also find practical tips on outsourcing tasks and setting priorities to reclaim time and enhance overall well-being.Key...2024-08-2134 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhy does it feel like we don't make great money?Episode Overview:In this episode, Nate Reineke and Ben Utley discuss financial strategies for high-earning physicians. They explore how a $50,000 inheritance could potentially support your child’s education through a 529 plan and share tips on effectively managing large cash reserves in business accounts.Key Takeaways:1. 529 Plan Benefits: - Investing a $50,000 inheritance in a 529 plan could help reduce future savings needs and potentially offer good returns.- The flexibility of 529 plans includes the option to roll over funds into a Roth IRA under certain co...2024-08-1427 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould I be taking more risk?Episode Overview:In this episode, Nate Reineke and Ben Utley discuss socially responsible investing (SRI) and how physicians can align their investment choices with their values. They cover the importance of diversification, explore the tax implications of practice buy-in loans, and provide investment strategies that may benefit young doctors, all while addressing a listener's questions about managing financial decisions effectively.Key Takeaways:1. Understanding Socially Responsible Investing (SRI): - SRI focuses on avoiding investments in industries like tobacco and firearms.- It may lead...2024-08-0735 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenTight on cash, where do I start saving first?Episode Overview:In this episode, Nate Reineke and Ben Utley discuss financial planning tailored for physicians. They explore the challenges of high-performing stocks like Tesla and the tax implications of practice buy-in loans. The episode includes investment strategies that may benefit young doctors, along with a case study on managing gains from Tesla stocks and insights on effective saving habits.Key Takeaways:1. Financial Planning for High-Performing Stocks: - Case Study: Examination of a physician's experience with gains from Tesla stocks.- Emphasis on...2024-07-3137 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould I be more aggressive with my college investments?Episode Overview:In this engaging episode, we explore the multifaceted aspects of financial planning designed specifically for physician families. Hosts Nate Reineke and Ben Utley share insights on navigating topics like home building, real estate transactions, and investment strategies—each aimed at addressing the unique circumstances faced by medical professionals. From considering the challenges and emotions of accommodating aging parents to exploring financial tools for smooth home transitions, this episode aims to offer practical wisdom. Whether you’re thinking about college savings or disability insurance, tune in to gather knowledge that may help inform decisions while balancing fami...2024-07-2427 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould I put my cash in treasuries?Episode Overview:In this episode of the Physician Family Financial Advisors podcast, hosts Nate Reineke and Ben Utley, both Certified Financial Planners, discuss financial strategies for physician families. They explore how to use extra cash effectively, looking at options like U.S. Treasuries, T-bills, ultra-short-term bond funds, ETFs, CDs, and high-yield savings accounts.The hosts also share valuable tax strategies and planning tips, addressing private family foundations, 401(k) vesting schedules, and the benefits of consulting financial advisors during job changes. They offer insights on choosing between lump sum investing and dollar cost averaging to support...2024-07-1724 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould you contribute to your company’s cash balance plan?Episode Overview:Join Nate Reineke and Ben Utley as they unveil insights into optimizing retirement and investment strategies tailored for self-employed physicians. This episode explores why a solo 401(k) might be more beneficial than a SEP IRA, particularly for those considering backdoor Roth conversions. Additionally, the hosts delve into the intricacies of contributing to 457(b) plans, highlighting key differences and potential risks between governmental and non-governmental options.Key Highlights:1.Solo 401(k) vs. SEP IRA: -Solo 401(k) plans often offer greater benefits than SEP IRAs for self-employed physicians, especially with higher contribution...2024-07-1032 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenAre Financial Advisors Worth it for Physicians?You’ve been waiting for it all this time. So here we are, on our 67th episode - here comes the shameless self promotion. Right? I mean what advisor doesnt think they are worth it.Well not only do we believe we are worth it, we can prove it. On today’s show, Nate and Ben share three ultra-simple moves that are so basic and so valuable that even super-smart physicians often miss out. And this missing out costs you multiples of what you might pay a decent advisor.But wait, there's more...2024-04-0329 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysician College Planning: What your colleagues are saying nowPhysician culture is a funny thing. Your colleagues may be thinking the same thing you’re thinking (about paying for college) but you would never know.Well, we do.As our in house college planning specialist, Nate Reineke has written college plans to help the physician moms and dad we serve send more than 300 children to college.So maybe your colleagues don’t talk to you about college but we hear about it all the time. At least three things we hear regularly cause us concern.2024-03-2022 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenDemystifying Defined Benefit Plans with Courtenay ShipleyIf something seems too good to be true, it probably is (not?) When physicians hear that they could save tens of thousands of dollars in taxes by utilizing a Defined Benefit Plan for retirement saving, it sounds like a pipe dream.Before you write this retirement savings tool off, think of it like this: If something seems too good to be true, it probably is for most. But if you are a high earning physician this tax savings dream could become a reality.In today’s episode, Nate interviews guest Courtenay Shipley, th...2024-03-0625 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysician Vacation Homes: Swipe right? Or left?Happy (somewhat belated) Valentine’s Day physician moms and dads. Did you remember to make a date or buy your sweetie flowers? If you failed it’s not too late, you can still buy them a vacation home!But should you?Whether they are dreaming of a house in the mountains or a condo on the beach, your colleagues often cite three reasons to tie the knot on a second home and only one will end in true love. Listen in as Nate and Ben play real esta...2024-02-2124 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenThree Ways Physicians Can Get The Things That Money Cannot BuyMoney won’t buy you happiness.You have all heard this before and by and large everyone agrees with this statement, yet for many physicians your actions say otherwise.Listen in as Nate lays out how working with hundreds of physician families has shaped his thinking on what living an abundant life really means and how you can shift your perspective about money to actually start living one. ARE YOU GETTING ALL THE TAX BREAKS YOU REALLY DESERVE?T...2024-01-1817 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenAre Physician Pensions Worth It?Wouldn’t it be cool if you could never run out of money? That’s what you get with a pension: monthly payments that last as long as you do. Some jobs, including those at the Veterans Administration and Kaiser Permanente, include pensions as part of the overall compensation and benefit plan. Do you have colleagues that are doing the same kind of work you do at a different company? You just might find that the value of your pension makes up the difference in pay - but you have to know what it’s...2024-01-0322 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenGood news for physicians planning for collegeRemember the good old days?I’m not talking about the days where teenagers consistently used words like “sir” and “ma’am”, I’m talking about when those teenagers could get away with paying for college with nothing but the income they earned from their summer jobs. While those days are gone, the College Board just came out with some good news about the rising cost of college. Listen in as Ben and Nate break down this information and lay out best practices for physicians who are preparing to foot the modern day college tui...2023-12-2029 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenThe wrong way to think about your physician inheritanceEinstein famously said “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.”In today’s episode Nate and Ben discover that this compounding effect is not unique to your investments with money. It works the same way with your joy and ability to create memories early in your life. Listen in to find out how thinking about your physician inheritance the right way, can help you grow the joy in your life before you ever see the money. ARE YO...2023-12-0630 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenOpen enrollment blunder costs physician $366,000Did you brush your teeth today? Of course you did.But did you actually think about what you were doing? Probably not.Insurance open enrollment is like that. It’s something you do every year and you probably don’t think about it. In fact, you just might choose to do the same thing you did last year but that could cost you hundreds of thousands of dollars over the span of your career.Listen in as Nate and Ben break down the one thing you must do t...2023-11-1525 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenYour Old Physician 401k: Time Bomb or Treasure Chest?Imagine your physician Retirement Fund is one big pie. If you look closely, that pie will primarily be made of a physician 401k or 403b and the entire financial services industry wants a piece. If you’re not careful where the filling lands, you might cut them more than their fair share. Listen to Nate and Kyle discuss how to keep more 401k money for yourself on your journey to retirement. ARE YOU GETTING ALL THE TAX BREAKS YOU REALLY DESERVE?To find out, get your copy of...2023-11-0135 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysician investing basics: what are ETFs?Investing is a strange thing: the less you pay, the more you get.And for physician investors, keeping more of what you earn means paying less taxes on your investments.For the past three decades Exchange Traded Funds (ETFs) have made it easy for all investors to own a balanced, diversified, low cost, tax efficient portfolio.But what are ETFs and how can you use them?Listen in as Ben and Nate discuss some ETFs basics and explain why physicians should own...2023-10-1829 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysician retirement planning sucks, now what?Imagine a big sack of donuts. Now imagine a big stack of plywood.What do these have in common?They are stories Ben and Nate share on today’s show.While every physician wants to be responsible with money, most physicians come to realize that retirement planning simply sucks.It’s laborious, time consuming and overwhelming.So what do you do?Listen in to find out how you can have your cake and...2023-10-0433 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysician student loans, what should you do right now?Fake news. It’s everywhere and some people even believe it. Some unintentional fake news you have heard recently is that Public Service Loan Forgiveness is not real.In today's show, Ben and Nate share stories of real live physicians who have gotten real relief through the Public service loan forgiveness program.We break down the must-know news about student loan forgiveness for doctors and tell you exactly what you gotta do right now to get yours.And if you are a physician who is making payments on...2023-09-2027 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenTax loss harvesting: another hidden physician tax breakEvery physician wants to lower their tax bill. But, of all the best-known tax strategies for doctors that you may have heard about, which ones are both possible and worth your time? Tax loss harvesting just might be the winning answer for a mid-career physician. Listen in as Kyle and Nate discuss tax loss harvesting and if it’s right for you ARE YOU GETTING ALL THE TAX BREAKS YOU REALLY DESERVE? To fi...2023-09-0624 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenNew baby? Take an inside look at real college planningCollege is getting more and more expensive every year. For most people, the cost of college results in a six-figure ball and chain of student loan debt. Have you ever wondered how your children can show up to their college graduation ceremony free from this financial burden? Listen in on some LIVE college planning with Nate and Chelsea where they discuss setting a college goal, investment strategy and saving a TON on taxes. ...2023-08-1630 min
Physician Family Finances Podcast; Personal Finance for Doctors with Children7 things physicians can do with extra money nowLets face it; you have WAY too much cash in the bank. Maybe you got a buy-out. Or an inheritance. Or maybe cash has been piling up in your bank account because you just haven’t had time to invest it. Well, now is the time to think about all the things you can do with that extra money and maybe even start to take action. Join Nate and Ben to learn how you can stop letting inflation pick your pocket and star...2023-08-0220 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenHow doctors can spot bad target date fundsGood medicine requires a good treatment plan for each patient and the tools needed to implement it. But what do you do when your most efficient tool is broken? Listen in as Nate asks Kyle what to do when you have a sound treatment plan for your investments - target date investing - but the target date funds in your 401(k) are busted. ARE YOU GETTING ALL THE TAX BREAKS YOU REALLY DESERVE? To...2023-07-1928 min
Physician Family Finances Podcast; Personal Finance for Doctors with Children7 Questions to ask your next physician financial advisorHave you ever hired a babysitter? You know, someone you trust to love and care for your child while you’re away? Well, hiring a financial advisor is a lot like that. If you’re looking for a new financial advisor, you’ll undoubtedly want to ask all the right questions. In this episode, Ben and Nate give you seven questions you can use to choose not just a good advisor but a great one. Pro Tip: If you already have a great fi...2023-07-0532 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenIs Real Estate Really For Doctors?Doctors are smart and real estate is real but is real estate the right investment for real smart doctors?The answer is no.Listen in as Ben and Nate discuss the four reasons why physicians – at least those who want to focus on their marriages, their children and their practices – can just say NO to the problems, perils and broken promises of real estate investing. ARE YOU GETTING ALL THE TAX BREAKS YOU REALLY DESERVE?To find out...2023-06-2122 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenIs Physician Happiness Even A Thing?Is “physician happiness” an oxymoron? Sometimes it may seem that way but you may be surprised to hear that some physicians have cracked the code on happiness. On this episode, Ben Utley, CFP® and Nate Reineke, CFP® discuss the Medscape Physician Lifestyle & Happiness Report 2023 in an effort to understand why physicians reported being less happy this year. ARE YOU GETTING ALL THE TAX BREAKS YOU REALLY DESERVE? To find out, get your copy of The Overtaxed Doctor's Retirement Investing Checklist at https://physicia...2023-06-0726 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenFinancial Freedom: Do Doctors Actually Retire Early?If you’re a physician, you’ve probably heard of F.I.R.E. (financial independence, retire early). It sounds amazing, but do physicians *actually* retire early? Why or why wouldn’t you? On this episode, Nate Reineke, CFP® is joined by Chelsea Jones, CFP®, our in-house Retirement Planning Specialist, to discuss the balancing act between working to save like crazy versus enjoying more life early on in your career. ARE YOU GETTING ALL THE TAX BREAKS YOU REALLY DESERVE? To find out, get your...2023-05-1724 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenPhysician 401k, Right or Roth?What do neurosurgeons and otolaryngologists have in common? Beyond the polysyllabic nature of their titles, they are both high earning physicians AND four out of five of them are making a BIG tax mistake with their 401ks. Specifically, they’re choosing the Roth 401k, not the right one or the “Traditional” 401k. Listen in as Ben and Nate walk through the basics and build on them to arrive at the ultimate cost of this often overlooked decision. Hint: It’s WAY more than you t...2023-04-1920 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhy Do Physicians Get Big Surprise Tax Bills?How was your tax bill this year? Was it smooth and easy? Or did you get a nasty surprise? If you have ever felt the shock and awe that comes from a surprise tax bill bomb, this episode is for you. Listen in as Ben and Nate discuss the top three reasons why young physicians, mid-career physician investors and self-employed doctors sometimes get hit with unnecessarily high taxes AND learn what you can do about it now, before another big bill comes you...2023-04-0513 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhat is the best investment for VA & military doctors?When it comes to financial stuff, the US government usually gets a bad rap. But the Federal Employees Retirement System Thrift Savings Plan (FERS TSP) is a major exception. Ben and Nate field a question from a US Air Force Reserves flight doctor about how to invest in the TSP. Tune in to learn why this 401k-like plan is so awesome and why one of the funds in the lineup is so unique it’s worth a second look. Listen to the end where we weave together the best parts of the TSP with an after-tax account to come up...2023-03-1514 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenTax free, investing for physicians just got more interestingBonds are boring, aren't they? Well, not anymore. Recent rate increases make bonds more interesting than they've been in years. Better, some bonds yield interest that's tax-free, making them a match for many overtaxed physician families. Listen in as Ben and Nate answer questions like: • What is a bond? • How do they work? • How c...2023-03-0126 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenVUL-nerable No More: Unwinding Variable Universal Life Insurance for DoctorsDo you remember that guy? You know, the friendly insurance agent you met when you were a resident? That was back when you thought everybody was as honest and well-intentioned as doctors are. And that was at a time when you and your family were vulnerable not only to the whims of fate but the advances of greedy life insurance agents, too. They should have sold you a load of inexpensive term life insurance. Instead, they shook the tax stick at you and made you believe variable universal life insurance (VUL) was the way to go. 2023-02-1531 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenSexy Financial Planning for Physician FamiliesFor Valentine’s Day, we thought about getting you a big box of chocolates, but we decided to give you something less fattening and more fascinating: five tips to rekindle the flame of financial intimacy in your monetary marriage. We scoured the internet in a search for “how to talk about money with your spouse” but we came up practically empty handed. What we found instead was loads of advice about how to talk about sex, and we realized these two hot topics have a lot in common. Listen in as Ben and Nate share practical wisdom about how to spi...2023-02-0122 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhy is Physician Tax Advice SO Broken?The tax code is so complicated that even doctors–some of the smartest people on the planet–struggle to make sense of it all. And the one person who is supposed to help, your tax preparer, doesn’t seem to care. Join Ben and Nate as they break down the three “tax things” most physicians want and discuss why the average tax preparer won’t give you the one thing you really need: a solid strategy to actually reduce your tax bill GET MORE FROM PHYSICIAN FAMILY 2023-01-1825 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenThe Physician Retirement Time MachineWhat do you need to focus on throughout your career to enjoy a happy retirement? Today, it’s time to hop in the “Physician Retirement Time Machine” to see how things might look a couple of decades from now. How can you graduate from a successful career with a smile on your face, a song in your heart and an unexplainably healthy glow about yourself? Tune in to gain some vital inspiration and a quick laugh or two as Ben and Nate reveal a few ways you can reshape your daily existence to make life worth living both NOW and in...2022-12-2133 min
Physician Family Finances Podcast; Personal Finance for Doctors with Children10 Tips and Traps for the Relocating PhysicianA physician has made the decision to change jobs or move out of state. What answers should a physician receive before they accept a new position? What key factors should a physician know before they establish new residency, such as taxes, insurance, debt, and retirement? How should a physician plan their move to avoid huge impacts to their life? Every physician's situation is different, tune in to learn ten tips and traps before you decide to take the leap and relocate yourself and your family. ASK A QUESTION ...2022-07-1327 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenYour First Physician Mortgage: How does it work?A physician has made the decision to buy a house, so what’s the next step? How should physicians acquire a mortgage? What is the difference between a preferred lender vs. a standard bank loan? What type of loan is the best option for a physician? Tune in to learn the seven recommended steps for physicians in the home buying process that, with planning and preparation, can help physicians get the best mortgage. ASK A QUESTION Send your questions about taxes, investing, extr...2022-06-2929 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhy Physicians Should NOT Refinance Student LoansMost physicians–even those well into their career as an attending–will face decisions about student loans. What is the difference between refinancing and consolidating student loans and which one is better? What should physicians consider before they refinance their student loans? Are lower interest loans actually worth it? Should physicians pay one debt off at a time or pay smaller amounts towards all their debts over time? Tune in to learn why it may not be the best option for physicians to refinance their student loans. ASK A QUESTION2022-06-1535 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenChanging Jobs: How To Make Your Physician Family Work BetterChanging jobs is common for physicians, but is money the main motivator? What are some other driving factors that lead physicians to change jobs? What if a new job requires a physician to move their family across the country to a city they’ve never been to and what types of factors should a physician consider if they are offered a new position? Tune in to learn why a giant sign-on bonus for an unfavorable position is not worth a physician’s quality of life. It is possible for physicians to find a healthy balance between work, life, and fina...2022-06-0123 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenS.A.F.E. Money: Your Physician Family Emergency FundEmergency funds are essential for unexpected events that happen in life. Every physician should have one, but how much money should be in that emergency fund? What constitutes an emergency and what doesn’t? Should physicians worry about an emergency fund if they are trying to pay off debt or buy a house and what is the best type of account for an emergency fund? Listen in to learn about S.A.F.E. Money and how it applies to emergency funds for physicians. Find peace of mind knowing you’re prepared for the big unexpected financial events in your...2022-05-1829 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenIndex Funds: Better investing for overtaxed doctorsIndex Funds have numerous benefits for overtaxed doctors. But what is an index fund? Should doctors invest in index funds or keep their taxable account? What makes index funds different and what if a doctor wishes to sell their taxable accounts to invest in an index fund? Tune in for insight into how doctors can analyze their investment accounts and learn when it’s worth it to invest in an index fund. ASK A QUESTION Send your questions about taxes, investing, extra money...2022-05-0421 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenBackdoor Roth: Tax-Free Retirement for DoctorsBackdoor Roths are useful, tax-free strategies for physicians to invest in their futures. But what exactly is a Backdoor Roth and how does it differ from a traditional IRA account? Does ‘Backdoor’ mean it’s illegal? Can everyone set up a Backdoor Roth? Tune in to learn how you can set up a Backdoor Roth IRA. If set up early, Backdoor Roth IRAs have the potential to drastically impact a physician’s tax-free savings for retirement. ASK A QUESTION Send your questions about taxes...2022-04-2021 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhat are most physicians doing about college?What was once a privilege in the past, college seems more like a necessity in today’s society. And a plan to save for college takes discipline, however, it is a worthwhile investment. So, how should physicians prepare to pay for college? Realistically, how much does college cost? What types of accounts are best for saving for education and should physicians expect their child to pay their way through college? Tune in to make sure you don’t miss out on a big college tax savings break, it could save you thousands! ASK A...2022-04-0634 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould doctors buy Bitcoin?Bitcoin has grown both in popularity and in value, but should doctors invest in Bitcoin? Are cryptocurrencies a safe investment? Is Bitcoin a diversified investment? What if a doctor just wanted to purchase a tiny stake in Bitcoin, would that be a worthwhile investment? Tune in to learn if Bitcoin belongs in the portfolio of a serious physician family investor or if you should pass up this current trend. ASK A QUESTION Send your questions about taxes, investing, extra money, retirement, college, an...2022-03-2313 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenHow should physicians prepare for a disability?As a physician, preparation for a disability is a must. So, how do you prepare for a disability? Will group coverage be enough to get you and your family through a disability? How much should a physician save for an emergency fund? Listen to learn what you should do if you still owe money on student loans and become disabled and what kind of policy you should choose. An emergency can upend a physician's life, be better prepared now and have peace of mind if an emergency strikes. ASK A QUESTION2022-03-0929 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhat should doctor's do with an extra $1,000,000?Whether it’s a buyout, a bonus, an inheritance or even the gradual piling up of cash in your bank account, many physicians are wondering what to do with a large chunk of money. Should you invest it? Pay down debt? Save for college? Or use it as a cushion for a job change? Even if you haven’t hit the extra million mark, you need a plan to make the most of it. Listen now for a discussion on emergency funds, paying off student loans and mortgages, and other scenarios for how you can spend or save that extr...2022-02-2326 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould doctors give their kids money?As a physician, have you felt an obligation to save large amounts of money to give your children when they’ve become an adult or graduated college? This gesture may seem like a no-brainer, an act you’ve never questioned. It’s led to the excitement you’ve felt as you’ve thought of this gesture of giving to your children. And while it’s easy to only dream of the fantastical outcome you’ve conjured in your head, did you prepare yourself for all possible outcomes that can happen from this gift? This gift may have more layers to it than you...2022-02-0926 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenHow can doctors improve their financial marriage?As a physician, are you and your partner confident with the finances in your marriage? Are you sure you're confident? Let’s test that! Which of these scenarios best describes your financial marriage circumstances? You and your partner don’t see eye to eye. One consistently drags the other to the financial “finish line” with only their financial goals in mind, while the other is hung out to dry. Or, do you both walk stride for stride to the finish line, assured you’re both on the same page with your financial goals? If you didn’t answer the latter, what...2022-01-2638 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenHow much should doctors save for retirement?For physicians, retirement may be little more than a byproduct of a life well-lived since the work you do can bring meaning and purpose to your everyday existence. Still, it's a good idea to give some thought to life after medicine, and even ask how much you should be saving for retirement. Given the complexities, it's easy to reach for a rule of thumb about saving but that might not be the best approach. Tune in as we answer a listener's question about how much to save. We'll explore how your unique situation should determine how you answer the...2022-01-1225 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould doctors bother to set financial goals?You conquered a big goal when you became a doctor, so setting financial goals should come easy to you, right? Maybe not. A goal that’s not specific, measurable, attainable, rewarding, and timely is just a dream. So, how specific do goals need to be for them to come true for you? Listen for a discussion about goals versus intentions, accountability partners, and how to build good habits. Learn how you as a physician can use these concepts to your advantage to set achievable goals. Tune in to turn your dreams into goals, and your goals into results for you...2021-12-2925 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhich doctors should NOT use a financial advisor?Doctors are smart people, and personal finance isn't rocket surgery, so you might be curious about whether you really need a financial advisor or not. A good advisor can help you get a better outcome and a great one can make a huge difference in your life. But what if you have what it takes to be your own best financial advisor? You can skip the hassle, expense and potential frustrations of hiring one. Have you got what it takes? Listen in to hear the four ingredients you need to do things right when you do it yourself.2021-12-1518 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould doctors have a budget?As a doctor, does the word “budget” spark a sense of dread? Your days in Residency were the epitome of frugality but now that you’re an attending, the financial responsibilities have piled up. When you look at paying off your student loans, investing for retirement, saving for college, paying down your mortgage and even taking a vacation, you might begin to think you need a budget. If you don’t have one, does that mean your goals won’t become a reality? Maybe not. You know budgets are a plan to spend money and to manage day-to-day finances, but does a...2021-12-0122 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould doctors invest for passive income?Should doctors invest in passive income? Those two words spark curiosity in many doctors' minds, the elusive, “how can I make money without working?” But is passive income all it’s cracked up to be? Can it benefit you as a physician? Real estate investments sell as the passive income end-all, but that’s not the only option. Listen to an analysis of multiple types of passive income such as index funds, stocks & bonds, diversification in real estate investments, and options for REITs (Real Estate Investment Trust) and learn why even these options may not be right for you and your...2021-11-1724 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould I rescue my child from money mistakes?Should I rescue my child from money mistakes? Dr. Foster Cline, Adult and Child Psychologist and author of, Parenting with Love and Logic, joins us to discuss his concepts to teach children from a young age the value of money. Dr. Cline proposes we give our children responsibility with their money and allow them to make mistakes from which to learn and grow. Listen as we provide examples from our own lives on how to raise financially responsible children. This could provide you with the answer to your child and money worries! A...2021-11-0239 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenIs PSLF worth it for an attending physician?What is PSLF, and is it worth it as an attending physician? PSLF stands for Public Service Loan Forgiveness, and we explain what you need to know about PSLF and if it is suitable for you as a physician. We use real-life examples and numbers to show the benefits of PSLF and deliver insights into what you can expect through the PSLF process. We will help clarify your Public Service Loan Forgiveness questions and guide you in whether or not you should take action to apply for PSLF. This could save you six-figures! 2021-10-1931 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenHow can I make my child start saving money?Hunter Clarke-Fields, a mindful parenting mentor with over 20 years of experience in meditation practices, joins us to discuss mindfulness as a parent and how to help guide your child to start saving money. Hunter provides daily mindful strategies you can use with your kids and shares how to journal with intention. She explains ways to create boundaries around money that allow freedom within those boundaries, ideas you can use to encourage your child to save money, and how to avoid shaming them. Start mindfully parenting your children today to promote their financial success tomorrow. 2021-10-0550 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenHow much house should I buy as a doctor?Are you a physician who’s trying to decide how much house to buy? Buying a home is a big deal, so Ben and Nate pose important questions to ask yourself when looking to purchase a home. Questions range from the practical, such as calculating your earnings and expenses, to the intuitive, digging deep within yourself and identifying the reason behind this purchase and how it serves your family. Before you buy your next house, ask yourself smarter questions to make a better decision for your family. ASK US A QUESTION2021-09-2116 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWhen should I start teaching my kids about money?Using the Answer Line, Margie, a physician mom practicing in Texas, asks a common but difficult question about when to start talking about money with kids. Learn how to start the conversation as Ben and Nate offer real life examples of teachable moments you might see in your own household. Even better, we tell what NOT to do when teaching your kids about money. Listen in to avoid the big mistakes and gain some courage and insights about how you can lead your kids into the not so friendly financial world. ASK U...2021-07-1419 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenShould physicians set themselves on FIRE?Financial Independence Retire Early (F.I.R.E.) is one way to approach your financial life but it might not be the best way. Understand the pros and cons of FIRE. Know the difference between "getting rich" and gaining control of money. Hear how financial independence offers you the freedom to practice your way without walking away from the work you love. Is FIRE right for you? Listen to the end where we share the one thing you need to know as you come to your own conclusion about your future in medicine. ...2021-07-1426 min
Physician Family Finances Podcast; Personal Finance for Doctors with ChildrenWho should listen to the Physician Family Financial Advisors Podcast?Physician moms and dads: wouldn't it be sweet if there was a podcast made just for you? We hope this is it. Welcome to the Physician Family Financial Advisors Podcast, where we turn today’s worries about money into a comfortable feeling of financial security to last you and your family a lifetime. As CERTIFIED FINANCIAL PLANNER™ professionals, we are here to answer your questions about how to become financially secure. And as parents, we are here to help you raise financially responsible children. In this first episode, we talk about exactly which doctors should listen and what makes us q...2021-07-0919 min