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Podcast title Doctor Money Matters
Website URL http://www.doctormoneymatters....
Description Welcome to the Doctor Money Matters podcast.

I am your host Dr. Tarang Patel, a practicing diagnostic radiologist in Phoenix, AZ.

I started this podcast as a way to share knowledge about financial matters as they relate to health care professionals. We spent many years learning about the science and art of providing patient care but most of us have relatively little knowledge about reaching financial well being. I know that I had no formal training in setting up investment accounts, negotiating contracts, buying insurance, buying real estate, etc. I just learned by reading and also by making many mistakes. Health care professionals are trusted to take put their patients needs first and we in turn assume everyone in other fields work the same way. Unfortunately this is not always true.

By talking about these topics, I hope we can reduce the many financial mistakes that prior generations of doctors have made. Those physicians were able to overcome these mistakes because of shorter training periods, less debt, and they were more likely to be in private practice. Today we no longer have those luxuries and many of us have significant debt burdens. The good news is that we also have access to information that the prior generation never had.

A little background about me. As I said before I am a practicing radiologist in Phoenix, AZ. I went to undergrad at Indiana U. (Go Hoosiers), medical school at the Kirksville College of Osteopathic Medicine (Now AT Still Univ) in Missouri, moved east and did my radiology residency at New York Hospital-Weill Cornell Medical Center in Manhattan. I then moved west to serve my Air Force commitment at Nellis AFB in Las Vegas, NV. I then did a fellowship in Body/Musculoskeletal Imaging at Mayo Clinic Arizona. Since I finished training I have been in a hospital employed group for the last 6 years.

I have always enjoyed learning about finance and have read (listened to) many of the financial books. I also spent time reading on the bogleheads.org forum which I found to be a valuable source of information. Finally I just observed that many of my colleagues and I had the same questions about relatively basic financial matters but it was difficult to find clear answers.

Hopefully you find these podcasts useful. I encourage you to subscribe to them, that way you will be updated when any episodes are released automatically. Also please let your friends and colleagues know about this podcast.

Please give us good feedback on iTunes, Google Play and stitcher and if you have suggestions on topics or how to improve the podcast please send your emails to comments@doctormoneymatters.com
Social media links:
twitter @drmoneymatters
Facebook www.facebook.com/doctormoneymatters/

Please understand that this show is for entertainment and education only and you should do your own research and speak with the appropriate experts prior to making any changes in regards to material you may have heard on the show. The opinions from the guests on this show are their own and do not necessarily reflect those of the host or of Doctor Money Matters, LLC.
Updated Wed, 11 Sep 2019 10:09:20 +0000
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Health & Fitness
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Episodes

1. Ep. 52 -- Surprise (Balance) Billing with Dr. Amy Cho
http://www.doctormoneymatters.... download (audio/mpeg, 39.66Mb)

Description:

On this episode, my guest is Amy Mecozzi Cho MD, an emergency medicine physician in MN who is passionate about making sure physicians voices are heard, particularly on the issue that is all over the news lately, Surprise (Balance) Billing. This is when the medical group providing the care charges the patient the balance between their fees and the (low) rates the insurance companies will pay. Obviously this is an unfortunate position for patients to be put in and physicians end up taking the financial and perception hits.

As an emergency physician she is required to take care of anyone who comes into the emergency department by law, physician oath and ethics, regardless of ability to pay. However insurance companies do not have to follow the same rules and can refuse to negotiate adequate reimbursement because they know physicians are bound by these laws. It’s obviously an uneven playing field. These entities have also had the ear of lawmakers and are pushing solutions to Congress that would negatively impact us. We as physicians are generally too busy to fight this, but if we don’t the results will be a disaster for those involved in patient care.

I encourage you to contact your congressional representative and senators and make your voice heard on this issue. The current solution in the Senate is the Benchmark solution and would lead us to the race to bottom described by Dr. Cho on the show. The New York (Independent Arbitration) solution is the one that we need to advocate for. It’s the only real way to reach fair outcomes. The fact that insurance companies are advocating for the benchmark solution should tell you as physicians how it will be for you.

https://www.house.gov/representatives/find-your-representative 


Here is an article that goes over the solutions in more detail: https://www.healthaffairs.org/do/10.1377/hblog20190708.627390/full/

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook

You can follow me on:

twitter @drmoneymatters 

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Email me editor@doctormoneymatters.com

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews on Apple Podcasts and continue to share this podcast with your colleagues.

 



2. Ep 51 -- Starting a DPC practice
http://www.doctormoneymatters.... download (audio/mpeg, 55.20Mb)

Description:

On this episode, my guests are a group of physicians who are in the Direct Primary Care space.


They each have their own practice. Dr. Jessica Edwards is starting a practice in TX. Dr. Mitch Li is starting one in the Chicago area. Dr. Clodagh Ryan has a 2 year old practice also in Chicago and is a veteran and mentor in this space.

In the era of physician burnout, loss of autonomy, dissatisfaction, etc, it’s refreshing to hear about doctors taking charge and executing their vision of patient care.

I previously explored this practice model on an episode with Dr. Josh Umbehr, and that episode inspired Mitch to start his practice. 

While there is constant complaining from physicians about where our profession is headed, use these doctors to inspire you to move in a different direction.

If you are a physician who has successfully built your own practice or practice in a different model than most traditional doctors, I would love to interview you on this podcast. Please reach out to me via the channels below.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook

You can follow me on:

twitter @drmoneymatters 

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



3. Ep 50. Dividend Investing with Nick McCullum
http://www.doctormoneymatters.... download (audio/mpeg, 40.30Mb)

Description:

On this episode, my guest is Nick McCullum of SureDividend.com.

We talk about dividend investing as a strategy. Everyone likes the idea of passive income and dividends are about as passive as it gets. Money comes in monthly, quarterly, or whatever frequency the company pays it out. Sure there are risks, but over the long term, dividend paying stocks have had lower volatility than the overall stock market.

In this episode we go over the basic terminology (yield, growth rate, DRIPs, etc.) and pros and cons, and how you can use this strategy. I am not trying to convince you to use this strategy but it is a valid one, if you are looking for income especially in your retirement years. We have all heard stories about retirees who live off their dividend checks because they bought the stocks many years ago and reinvested them. The key with this type of strategy as with others is to try to do it as early in your investment life as possible and continue to contribute throughout. The power of compounding is amazing, but the numbers are minor in the first decade, solid in the second decade, and downright impressive in the third decade. By the fourth decade, they become ridiculous. Let me give you an example of this in action.

If you invested 10k in Pepsi (A solid non tech American company) in Jun 2005 and held till Jun 2015 without any additional investment you would have had around $22.5 k (not accounting for taxes). With a monthly $100 additional contribution, your total would be around $42.4 (nearly double). If you would have put in the same 10k ,10 yrs before in Jun 1995, your total would be $68.3k (Nice, but not jaw dropping). With the additional monthly $100, it would have been $131K. Now instead of 1995, you put it in 1985, this is where it becomes amazing, your total would be over $700k, with the monthly $100, it would have been nearly $1.1M. And if you had the ability to buy in 1975, your 10k would be $2.6M, with the $100/mo additional it would be over $5M by Jun 2015.

 

I used 2015 as an end point because it is in the approximate middle of this bull market and the ten year period prior included 3 years before the 2008 financial crisis rather than at the beginning when asset prices were low (ie if you used current trailing 10 yr returns). But the reality is over long terms, these trends appear to hold with some variance

I am NOT a financial advisor and neither Nick or I are telling you to use this strategy for your investments. If you are interested in learning more there are many good resources including Nicks newsletter.

If you do pursue this strategy, make sure you do so in a tax efficient manner. I do this by placing my highest dividend paying holdings in my tax deferred accounts (401k, IRA, roth IRA, etc) so they can grow unimpeded.

This is the website to see stock performance with dividend reinvestments.

 https://dqydj.com/stock-return-calculator/

You can find out more about Sure Dividend at their website. SureDividend.com

Twitter @SureDividend

Seeking Alpha (Sure Dividend)

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



4. Ep 49. Dr. Disha MD -- The Frugal Physician
http://www.doctormoneymatters.... download (audio/mpeg, 39.80Mb)

Description:

On this episode, my guest is Dr. Disha of The Frugal Physician blog. We talked about her journey from being in debt to quickly paying off loans as a primary care physician despite a few financial setbacks. Obviously it is easier to payback loans in a dual high income couple but for many of my listeners, there is only one earner or one high income earner in the family, so we talk about how she did this.

Disha is an internal medicine physician who caught the financial independence bug after a couple of typical new grad mistakes. She went from a high end home on an island in the US to downsizing in order to get down her debt levels. She talks about the moment while she was on maternity leave when it dawned on her that she was worrying about finance rather than concentrating on her family, so she finally had to breakdown and use the B word (Budget).

She used the debt snowball approach to line up her debts from smallest to largest in order to get the families finances under control. We talk actual dollar amounts so that you get a better idea of how she was able to reduce housing costs (not just mortgage vs rent, but also maintenance, renovating, etc)

In 12 months of concentrated effort, she was able to knock of $150k off the debt. Impressive.

Then we hit on where she is now and what her plans are once the debt is paid off.

Disha also talked about what perceptions from family members and non physician friends about doctors finances and how she dealt with that.

Finally we talk about her George Costanza moment when she walked into her boss’s office and quit her job and then had to go back because she realized she could not afford to do so.

Dr. Disha has a great plan for her finances and will no doubt be successful.

You can find out more about Disha and her blog at The Frugal Physician

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



5. Ep. 48 -- Rick Ferri, CFA
http://www.doctormoneymatters.... download (audio/mpeg, 50.28Mb)

Description:

On this episode, my guest is Rick Ferri, CFA, a well known advocate of index fund investing.

Passive investing (just using ETFs does not mean passive investing) What to do before you do portfolio construction Accumulation of assets (savings rate first and then portfolio optimization) Living below your means Accumulating knowledge Portfolio construction The stages of investor education (Core4) Darkness enlightenment Complexity Simplicity

We go over some common scenarios about how to invest and Rick gives some principles to think about before deciding what to do.

Finally Rick reminds us physicians, that even though we went to medical school, we are not special when it comes to investing. Its good advice.

You can find out more about Rick at rickferri.com and core-4.com for a list of his principles and publications.


He also started the new Bogleheads on investing podcast, so be sure to check it out and his new book, The education of an Index Investor.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

 

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

 



6. Ep. 47 Ryan Inman, CFP
http://www.doctormoneymatters.... download (audio/mpeg, 43.68Mb)

Description:

This is a special episode of the Doctor Money Matters podcast. I am doing a cohosted joint podcast with Ryan Inman of the Financial Residency podcast. In this episode we interview each other. Ryan is a CFP who runs his own financial planning firm catering to physicians. His wife is a physician as well so he really understands the issues that physician families face.

In this episode we talk about:

The FIRE Movement for physicians Common issues facing early and mid career physicians Why the increased corporate takeover of medicine has led to loss of job satisfaction Some pitfalls to look out for when dealing with social media financial advice You can find Ryan’s podcast at www.financialresidency.com. We do talk about similar topics and I encourage you to make this podcast a part of your regular rotation.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



7. Ep 46. Sarah Fallaw PhD -- The Next Millionaire Next Door
http://www.doctormoneymatters.... download (audio/mpeg, 32.84Mb)

Description:

My guest on this podcast is Sarah Fallaw, PhD author of the new book. The Next Millionaire Next Door. This is a follow up to the blockbuster book that her father wrote, The Millionaire Next Door. Sarah and her father worked on the follow up together, but he passed away prior to the release. That book was a big inspiration for me to get my financial house in order. 

Sarah is an industrial psychologist who runs the firm Data Points where she now studies behavioral finance and the ability for people to build wealth.

In the interview we talk about

Why doctors were/are under accumulators of wealth What issues are different now than when the last book came out? What are the enduring traits of Millionaires Next Door? Do MNDs use financial advisors? How has social media impacted frugality? What kind of homes/cars are MNDs purchasing?

You can find out more about Sarah and her company at www.datapoints.com


The Next Millionaire Next Door and the original The Millionaire Next Door are available on Amazon or anywhere else you purchase books.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



8. Ep 45. Disability Insurance part 2(Q & A with a broker and lawyer)
http://www.doctormoneymatters.... download (audio/mpeg, 34.66Mb)

Description:

This is part 2 of the podcast are Ed Comitz and Stephanie Tsang. Ed is an attorney in AZ who specializes in disability insurance lawsuits. Stephanie is a broker who deals with who deals with disability insurance. Ep 44 is part 1, which you should listen to first if you have not done so yet.

We talk about the basic information needed for physicians regarding disability insurance. We clear up some of the misconceptions.

We discuss individual policies, association policies, and employer policies and which ones are generally better for you the physician. There are definite pros and cons to the insurance types.

What is double dipping as far as benefits? Which companies are most favorable to physicians? Why does it matter which state you are from? What happens if you want to change policies? Is there a cap on amount of insurance you can get? What should you know before you file a claim and what happens when you file disability? When should you consult a lawyer? (Answer: before you file disability) When should you drop your disability insurance?

Stephanie Tsang

NorthStar Resource Group

stephanie.tsang@northstarfinancial.com

www.northstarfinancial.com

Ed Comitz

480-219-5436

Disabilitycounsel.net

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



9. Ep. 44 Disability Insurance (Q&A with a disability lawyer and broker)
http://www.doctormoneymatters.... download (audio/mpeg, 27.07Mb)

Description:

My guests on this podcast are Ed Comitz and Stephanie Tsang. Ed is an attorney in AZ who specializes in disability insurance lawsuits. Stephanie is a broker who deals with who deals with disability insurance.

We talk about the basic information needed for physicians regarding disability insurance. We clear up some of the misconceptions.

We discuss individual policies, association policies, and employer policies and which ones are generally better for you the physician. There are definite pros and cons to the insurance types.

What is double dipping as far as benefits? Which companies are most favorable to physicians? Why does it matter which state you are from? What happens if you want to change policies? Is there a cap on amount of insurance you can get? What should you know before you file a claim and what happens when you file disability? When should you consult a lawyer? (Answer: before you file disability) When should you drop your disability insurance?

Stephanie Tsang

NorthStar Resource Group

stephanie.tsang@northstarfinancial.com

www.northstarfinancial.com

Ed Comitz

480-219-5436

Disabilitycounsel.net

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



10. Ep 43. Crushing student loan debt with Drs Renee and Nii Darko
http://www.doctormoneymatters.... download (audio/mpeg, 46.90Mb)

Description:

My guests on this podcast are Drs Nii and Renee Darko who paid back significant educational loans nearing nearly $670k over a 3 year period in order to take back control of their financial futures. 

Nii is a trauma surgeon and Rene is a Ob/Gyn and they worked very hard to pay down this debt.

We talk about how they acquired so much debt. What was the moment they realized that this debt was out of control and how they changed their life to pay down this debt. They also talk about their backgrounds in relation to finance and how that impacted their lives. We also talk about the decision to pay down debt vs investing (which is a common question and its a different answer for everyone) and now what their plans are after finishing the debt paydown.

They also have other ventures which they are now able to spend more time on. Nii hosts the popular Docs Outside the Box podcast, and Rene runs a premed advisory service called Premed Strategies and Coaching where she helps advise aspiring medical students. They also run a locums agency called Equal Access Health and a blog called Keeping up with the Darkos.

I hope the Darkos have inspired to you take a look at your finances and also pursue alternative ventures that maybe outside of medicine.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



11. 2019 Goals
http://www.doctormoneymatters.... download (audio/mpeg, 8.76Mb)

Description:

Im back. Sorry for the long gap between the last episodes and this one. Holidays and an extremely busy work schedule limited my ability to work on the podcast. I have a series of episodes ready to go and am excited to get back to it.

While finance and money are the main topics, I would also like to continue to address other issues that impact health care professionals including the burnout epidemic that has become a major topic amongst all of us.

My last episodes on private equity in medicine were very popular and well received. It is the continued erosion of physician ownership and employment that troubles me. (I don't blame anyone for taking a buyout if offered, I probably would go that route also, but the long term effects for the profession are probably not good.) When you are not an owner, you lose power, and when most of us are employees (myself included), we lose major negotiating power for healthcare policy decisions (You will hear about this in an episode with Dr. Marion Mass and an important organization she is a part of called Practicing Physicians of America.


I would also like to continue to highlight entrepreneurship and independent practice owners as I truly believe that ownership allows for a more fulfilling career. So if you are or know of any independent practice owners that I should spotlight, please shoot me an email at tarang@doctormoneymatters.com , tweet me or FB message me.

Every year starts out with optimism and that is one of humanities great traits, to look arbitrarily at a calendar and decide that January is when you make a change.  I am, just like most of you a working healthcare professional who puts in too many hours at work, tries to spend time with his family, and tries to take care of patients. I hope this is the year you make a commitment to your financial wellness.

So first basic goals I think everyone should try to get to as soon as they can this year.

Fund your 401k, 403b (esp if you get a match) (I want to make a quick tribute to Jack Bogle, the father of the index fund who recently passed away. He did more than anyone to help the average investor protect themselves from Wall St. Billions of dollars in investor accounts are there because pioneered low cost investing) Fund your roth or reg IRA, (backdoor roth IRA for high income professionals) If you have a HSA, fund that Pay off high interest debt (if credit card or other very high interest, this may move up a few notches) Take a moment to invest in yourself. This can be health, education, or just something that makes you feel better. Life is too short (as we all know) to not enjoy the journey. Do something that makes you uncomfortable. For me that is going to include some public speaking. It’s not too tough to sit behind the microphone on this podcast (though it was very scary to put it out there), but speaking in front of a group is nerve racking. I’m always impressed with those who do it so well and make it look effortless.

Finally I want to expand our investment mindset. While, I truly believe that equities and real estate should be core holdings (they are mine), I am always looking for other opportunities that are available (for diversification and non correlation) and educating myself and hopefully the audience about these. If you are interested in hearing about specific types please let me know and I can try to do shows about them. It has been a long bull market in most assets and no one knows where we are headed and I am certainly not a good forecaster. But there is a role for other investments and I do think that it’s always good to explore these. Last year I joined an investment group of physicians looking at early stage healthcare companies. I will probably be talking more about this in the future, so keep a look out for that.

I want to thank all of you for listening to this podcast, sharing it with your colleagues, and your participation in the Doctor Money Matters FB group. While it may not be the biggest podcast or the biggest group, I hope they have been entertaining and useful, I hope we can continue to help educate and empower each other in our financial journeys.

I am thinking of putting on a webinar to discuss investing, taxes, and other financial topics. If you are interested let me know by email. 

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



12. Ep 42. Kurt Schoppe, MD (part 2) Private Equity buying medical groups. What's the deal?
http://www.doctormoneymatters.... download (audio/mpeg, 27.01Mb)

Description:

Part 2. Private Equity buying medical groups -- What’s the deal?

Ep 42 is part 2 (Ep 41 is part 1) of the episode talking about private equity buying medical groups.

There is an increasing amount of private equity purchasing/partnering of medical practices in the US. We are seeing in in a variety of fields such as radiology, anesthesiology, emergency medicine, dermatology, just to name a few. I wanted to explore why this is happening.

My guest on this episode is Kurt Schoppe, MD a radiologist in Dallas, TX. Kurt is part of the American College of Radiology Economics committee and has experience in the private equity world.

On these episodes we talk about:

What is private equity?

Why would they be interested in medical practices?

Fragmentation of medical practices leads to market opportunities. They are good at logistics, operations and can increase efficiencies to improve returns. They can have access to capital to make discount purchases. They see healthcare as a more predictable way to make money.

Why would a practice want to sell to these firms?

FOMO (Fear of Missing Out) Other groups have done so we probably should also. Thinking that your group doesn’t have the expertise to handle a changing healthcare reimbursement model Money right now (particularly for senior partners)

What are they looking for when deciding to buy a practice?

What does this mean for medicine as a profession?

What does this mean for younger physicians?

Here is the article Dr. Schoppe referenced about corporate veterinary practices. https://www.bloomberg.com/news/features/2017-01-05/when-big-business-happens-to-your-pet

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can find Dr. Schoppe on twitter @kurtschoppe

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

 



13. Ep 41. Kurt Schoppe, MD -- Private equity buying medical groups. What's the deal? (Part 1)
http://www.doctormoneymatters.... download (audio/mpeg, 34.29Mb)

Description:

Welcome to the Doctor Money Matters Podcast. This is a podcast about financial topics related to the healthcare professional. I am your host Dr. Tarang Patel, a diagnostic radiologist in Arizona.

The topic on this episode is the increasing amount of private equity purchasing/partnering of medical practices in the US. We are seeing in in a variety of fields such as radiology, anesthesiology, emergency medicine, dermatology, just to name a few. I wanted to explore why this is happening.

My guest on this episode is Kurt Schoppe, MD a radiologist in Dallas, TX. Kurt is part of the American College of Radiology Economics committee and has experience in the private equity world.

On this episode we talk about:

What is private equity?

Why would they be interested in medical practices?

Fragmentation of medical practices leads to market opportunities. They are good at logistics, operations and can increase efficiencies to improve returns. They can have access to capital to make discount purchases. They see healthcare as a more predictable way to make money.

Why would a practice want to sell to these firms?

FOMO (Fear of Missing Out) Other groups have done so we probably should also. Thinking that your group doesn’t have the expertise to handle a changing healthcare reimbursement model Money right now (particularly for senior partners)

What are they looking for when deciding to buy a practice?

What does this mean for medicine as a profession?

What does this mean for younger physicians?

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can find Dr. Schoppe on twitter @kurtschoppe

You can follow me on:

twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



14. Ep. 40. Leslie Kane, MA -- Medscape Physician Salary and Net Worth Surveys.
http://www.doctormoneymatters.... download (audio/mpeg, 40.60Mb)

Description:

The 2018 Medscape Salary and Wealth/Net Worth Survey

Your income is the biggest contributor to your overall financial health for most people. As physicians we don’t always know what we are worth. It is important to look at the market data.

My guest on this podcast is Lesley Kane of Medscape business of medicine who is in charge of the annual physician salary and net worth surveys.

We talk about trends in physician salaries. What are the highest paid fields? We look into primary care vs specialty fields. We also look at the persistent gender gap in salaries and what are some possible causes vs misconceptions.

We talk about why there are so many physicians with relatively low net worth by age 65 despite relatively high incomes. This is a problem and I am critical of the number of physicians who are in this situation. While some may have valid reasons, 25% of physicians with net worth less than $1M by age 65 is too much.

Also we discuss whether physician salaries should be discussed publicly and whether its a good thing or not. Will patients or other non physicians use it against us?

Here are links to the surveys. (You will may need to login or subscribe to Medscape (Free))

Salary and Compensation report

Net Worth and Debt report

Let’s continue the discussion over at the Doctor Money Matters private FB group (you need to request membership).

Follow me:

Twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters



15. Ep 39. Robert Felberg, MD -- Negotiation skills for Physicians
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Description:

Negotiation for MDs

How are your negotiation skills? Do you love bargaining or do you cringe at the thought of trying to make a deal.

Negotiation is a critical tool in our careers and can literally make or break our financial and professional futures. My guest Robert Felberg, MD talks about important topics in negotiation as they relate to physicians.

What is a matrix?

What are the models of negotiation

What can you do to improve your negotiation skills?

This episode is vital for early career and mid career physicians. Listen to Dr. Felberg talk about the types of tactics that you can use to improve your bargaining position, who you are actually negotiating with, and how to do without seeming selfish.

We talk about negotiations for compensation and also with insurance companies and even your family.

Finally he recommends a book for negotiation that I had not heard of called Bargaining for Advantage by Robert Shell. (Note if you buy through this link, I get a small referral fee)

You can find out more about Dr. Felberg and his negotiation course at NegotiationMD.com

as follow his blog where he also delves into some financial topics.

Let’s continue the discussion over at the Doctor Money Matters private FB group (you need to request membership).

Follow me:

Twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters



16. Ep 38. Doc G (part 2) Getting to 5X income as an internist in a competitive market
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Description:

Doc G  This is a 2 part episode, so make sure you also listened to episode 37 (part 1) first

How did this internal medicine physician achieve a high net worth ($6M) at a young age? How was he able to 5X his income from the time he started practicing to now as a primary care physician in a large metro area?

Many physicians are resigned to the work, work, work mentality but don’t have a plan to increase their professional income. Investing is great and passive income is fantastic, but why not get paid appropriately for what you trained all these years for? Doc G talks about how he learned to optimize his workflow at all stages in his career and was constantly assessing what brought him income and joy and tried to remove those parts of his practice that didn’t.

While we are constantly learning about medicine via journals, conferences, presentations, etc, how many of you are consistently optimizing your own practice? It’s important because it will bring you greater job satisfaction and decrease burnout. The corporate practices do this but not for your benefit, so its vital that you assess how you practice.

It’s also great to see that primary care physicians can become very successful financially in this era of medicine.

Let’s continue the discussion over at the Doctor Money Matters private FB group (you need to request membership).

You can follow Doc G’s blog at www.diversefi.com where he goes into depth on these topics. You can also follow him on twitter @DocGDiversefi

This is the rockstar finance ranking of the bloggers by net worth. 4 of the top 5 are physicians, but Doc G is one of the younger ones. One of our previous guests is also on there. Dr. Cory Fawcett. (Episode 5 about debt)

Follow me:

Twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters



17. Ep. 37 Doc G -- Getting to 5X income as a primary care physician (part 1)
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Description:

Ep 37 This is a 2 part episode, so make sure you listen to episode 38 (part 2)

How did this internal medicine physician achieve a high net worth ($6M) at a young age? How was he able to 5X his income from the time he started practicing to now as a primary care physician in a large metro area?

Many physicians are resigned to the work, work, work mentality but don’t have a plan to increase their professional income. Investing is great and passive income is fantastic, but why not get paid appropriately for what you trained all these years for? Doc G talks about how he learned to optimize his workflow at all stages in his career and was constantly assessing what brought him income and joy and tried to remove those parts of his practice that didn’t.

While we are constantly learning about medicine via journals, conferences, presentations, etc, how many of you are consistently optimizing your own practice? It’s important because it will bring you greater job satisfaction and decrease burnout. The corporate practices do this but not for your benefit, so its vital that you assess how you practice.

It’s also great to see that primary care physicians can become very successful financially in this era of medicine.

Let’s continue the discussion over at the Doctor Money Matters private FB group (you need to request membership).

You can follow Doc G’s blog at www.diversefi.com where he goes into depth on these topics. You can also follow him on twitter @DocGDiversefi

This is the rockstar finance ranking of the bloggers by net worth. 4 of the top 5 are physicians, but Doc G is one of the younger ones. One of our previous guests is also on there. Dr. Cory Fawcett. (Episode 5 about debt)

Follow me:

Twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters



18. Ep. 36 Westby Fisher, MD -- MOC? More like WTF (part 2)
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Description:

WTF is up MOC? (Part 2)

If you have not listened to part 1, please do so first. (Ep 35)

How many of you listening write checks to your specialty board for the privilege of Maintenance of Certification? I will pay over $3k over a 10 yr period plus a ton of paperwork to my board so they can sign off on my certification. Most of you listeners do so as well. We do this because its just another of the burdensome regulations that physicians have to do to maintain licensure and certification and also most insurance companies expect it in order for us to bill our services. Most of us have never questioned the step even though we hate the fees and paperwork.

My next guest Dr. Westby Fisher looked into the board certification MOC for internal medicine and went down the proverbial rabbit hole and discovered or should I say uncovered a story that seems to have very little to do with physician certification or patient care.

This is a long episode that I split into 2 parts. Please listen to this episode first and then part 2. I would say you will be shocked but with the way things have been headed in healthcare, you probably won’t be.

Thanks Dr. Fisher for all your work to help physicians become aware of the MOC process.

I encourage those listening to contribute to the go fund me page and help fund this fight. Lets stop this physician learned helplessness and take our profession back.  

In my opinion, the whole MOC process is like a bad actively managed mutual fund. I see no value in the additional layer of management forced upon us and its costing our time and $$ while I don’t see evidence of improved performance over time. I expect better than this from the “academic leaders” of our respective fields. What do you think?

Let’s continue the discussion over at the Doctor Money Matters private FB group (you need to request membership).

You can follow Dr. Fisher’s blog at http://drwes.blogspot.com/ where he goes into depth on these topics. You can also follow him on twitter @doctorwes  and help fund this fight https://www.gofundme.com/practicing-physicians-of-america

Follow me:

Twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters



19. Ep 35. Westby Fisher, MD -- WTF is up with MOC (part 1)
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Description:

WTF is up MOC?

How many of you listening write checks to your specialty board for the privilege of Maintenance of Certification? I will pay over $3k over a 10 yr period plus a ton of paperwork to my board so they can sign off on my certification. Most of you listeners do so as well. We do this because its just another of the burdensome regulations that physicians have to do to maintain licensure and certification and also most insurance companies expect it in order for us to bill our services. Most of us have never questioned the step even though we hate the fees and paperwork.

My next guest Dr. Westby Fisher looked into the board certification MOC for internal medicine and went down the proverbial rabbit hole and discovered or should I say uncovered a story that seems to have very little to do with physician certification or patient care.

This is a long episode that I split into 2 parts. Please listen to this episode first and then part 2. I would say you will be shocked but with the way things have been headed in healthcare, you probably won’t be.

 

Thanks Dr. Fisher for all your work to help physicians become aware of the MOC process.

 

I encourage those listening to contribute to the go fund me page and help fund this fight. Lets stop this physician learned helplessness and take our profession back.  

 

In my opinion, the whole MOC process is like a bad actively managed mutual fund. I see no value in the additional layer of management forced upon us and its costing our time and $$ while I don’t see evidence of improved performance over time. I expect better than this from the “academic leaders” of our respective fields. What do you think?

Let’s continue the discussion over at the Doctor Money Matters private FB group (you need to request membership).

You can follow Dr. Fisher’s blog at http://drwes.blogspot.com/ where he goes into depth on these topics. You can also follow him on twitter @doctorwes  and help fund this fight https://www.gofundme.com/practicing-physicians-of-america

Follow me:

Twitter @drmoneymatters

Instagram @doctormoneymatters

Facebook @doctormoneymatters



20. Doctor Money Matters -- random thoughts
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Description: Congrats to new residents. It’s great to see your enthusiasm and brings back energy to everyone of us. We all remember the feelings of panic we had during our first days as actual doctors. Even when you talk to grizzled old attendings, if you are nice and enthusiastic, they will teach you. I have taken a hiatus from the podcast this month. We took a family road trip in upstate new york. Beautiful and underrated area. If you have not seen niagara falls or the thousand islands, I suggest you make a plan to do so. Relatively inexpensive on the US side, but great scenery and helps you realize there is so much to see that is close by. Physician confidence. I have spoken to a few physicians recently and encouraged them to know their own worth. While there are constant negatives in medicine bombarding us from all sides, for many of us right now, the job market is actually pretty good. There was an article in the WSJ recently about how quitters are winning. Its always a good idea to keep up with salaries and employment trends in your fields, so I encourage you to  please take a look around at the various specialty job boards. I see to many physicians complaining about the lack of opportunities, and while it may be true for some, its probably not as bad as you think at this moment in time. Long term forecasts are always difficult. I have many podcasts recorded and ready for release, but I would like some ideas from you all for new topics. Please join my FB group and my email list to submit topics for discussion. I am meeting up with a few of my fellow physician podcasters next week, so who knows maybe we can do an allstar podcast. Keep listening.

21. Episode 34. Quynh-Lan Nguyen, MD -- Credit card hacking
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Description:

On this episode, I interviewed Dr. Quynh Lan Nguyen, a traveling hospitalist and blogger about how she and her husband have turned credit card hacking into a lifestyle that allows them to travel around the world. We talk about her strategies and recommendations and whether its still possible to do this today. We also talk about her interest in the FIRE movement and how she and her investment banker husband both want to enjoy their life sooner rather than later.

I myself was using credit cards, particularly southwest a few years ago to get companion passes for my wife and myself which has allowed our family of 5 to basically travel free (domestically and to Mexico twice) the last 3 years saving us approx 15-20K in airfare costs. It can be extremely useful if used appropriately, but there is risk in spending unwisely, late payments or interest charges which will far outweigh any rewards you accumulate, and negative impact on credit so be aware of this and other risks if you try to do this.

I think the credit card companies are catching on making things a bit more difficult now so as Dr. Nguyen recommends, use your miles sooner rather than later.

You can visit Dr. Nguyen’s website to get the latest in credit card tips and travel recommendations at www.smartmoneyandtravel.com

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



22. Ep 33. Amy Shah, MD -- Creating a successful side gig
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Description:

Welcome to another Doctor Money Matters episode. In this episode I talk with Dr. Amy Shah, an allergy specialist and good friend who turned her passion for nutrition and health into a few solid side gigs.

Before I introduce Amy, I would like to talk a bit about why so many doctors are looking for side gigs. It seems crazy that people would undergo 11-17 years of post high school training and then want to look for an additional job after they worked so hard to achieve the primary one.  It speaks to the dissatisfaction, disillusionment, and loss of autonomy that so many in medicine feel now. The wall st journal had an article this past weekend about physician burnout and I have addressed it on prior episodes. We didn’t get into medicine to have our expertise undermined or questioned by those with less training. We are also less likely to be allowed to use our creative sides in medicine than generations past, and so we must express that part of ourselves in otherways. Finally maybe this is the function of living in the day and age of the gig economy and also the easy and cheap technologies with which we can start businesses (though succeeding is another story. That leads me back to my guest Amy Shah, who is succeeding.

Amy is a relative pioneer in using social media to expand her reach and develop a personal brand. It has been great to watch her develop this non traditional endeavor over the last few years. She definitely has been an inspiration and source of encouragement as I started my podcast.

In this episode we talk about:

How she developed an interest in nutrition at an early age Her mindset about developing her passion into a viable business rather than just a hobby. Some of the fears she faced while trying to develop her status as an authority on these topics Her advice for those who are starting this process Her goals for the future of her various endeavours

Amy, in addition to practicing as an allergist, does personal wellness consults, has developed products including supplements, and as she talks about in the show, customized earbuds called SoundMolds (in conjunction with one of her ENT partners), worked with Bobbi Brown in the cosmetics industry, and now working with Genexa, an organic medication company. She also is starting to do physician webinars and live person coaching for those interested in learning how she has done these various things.


You can follow Amy on Instagram at @dramyshah or at her website www.amymdwellness.com. She also created a popular facebook group for those interested in healthier south asian cooking called Desi Carb Fix that has over 5k members.

Thanks for joining us on another episode of Doctor Money Matters. If this is the first episode you have heard, I appreciate you taking the time out and listening and encourage you to listen to our past episodes. I would also appreciate you leaving me a positive review on Apple Podcasts and also recommend you join our facebook group where we have ongoing discussions about this and other topics in order to help each other reach our financial goals. Finally please subscribe to our email list on the website and subscribe to the show on your favorite podcast app so you will have new episodes downloaded automatically when they are released.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters and on FB/Instagram at Doctor Money Matters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



23. Ep 32. Jason Mizell, MD -- Teaching medical students about finances
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Description:

Episode 32 Jason Mizell, MD

First I would like to thank you all for continuing to listen to the podcast and also for those of you who have joined the Doctor Money Matters facebook group. Group has grown by nearly 50% last month and the discussions have been spirited. Please continue to add your physician and medical professional colleagues so they can join in the conversation. Some of the popular topics recently have been determining your retirement number and Dr. Meru, an orthodontist in Utah who was recently profiled in the WSJ about having $1M in student loans.

On this episode, I interview Dr. Jason Mizell, a colorectal surgeon at University of Arkansas Medical Center. He started a class to teach 4th year medical students about finances. As I mention in the intro to this show, most of us were never taught these subjects in medical training leaving us to figure it out for ourselves, often at great expense (in terms of fees or mistakes).

Dr. Mizell like many of us felt lost in dealing with finances when he first came out of training. I will let him discuss that during the show, but he realized that he was probably not alone and decided to do something to help his colleagues and students.  This has become a very popular class and hopefully spreads to other schools. Perhaps we should have some of these topics addressed before medical school starts to avoid a Dr. Meru situation.

Thank you Dr. Mizell for starting this conversation with medical students. It’s great to see someone taking initiative to help educate our younger colleagues. Doing it in the structured way he does really brings value to these students. Maybe some of you are already helping out by informally bringing up these topics with your students. If you do please let me know how, you can tweet to me or send me an email.

Sometimes once you start learning about financial topics, the basics such as interest, inflation, compounding can seem very simple but there is an article I read recently that had 3 quick questions about these topics and the vast majority of people could not get more than 2 of 3 correct. If you don’t understand these fundamental concepts, you will have a hard time getting ahead financially.

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.
Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



24. Ep 31. Ike Devji Part 2 -- Assorted legal questions
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Description:

Welcome to the Doctor Money Matters Podcast. This is a podcast about financial topics related to the healthcare professional. I am your host Dr. Tarang Patel, a diagnostic radiologist in Arizona.

Our guest on this episode is Ike Devji, JD an attorney in Phoenix, AZ. Ike is our first returning guest. He previously discussed asset protection on episode 3 which remains one our more popular episodes. Today we will be talking about estate planning on part 1 and an update to asset protection on part 2. Both episodes will be released together, but you will need to download them separately. I apologize for some of the scratching sound you will hear during the conversation, but I didn’t want to stop recording because the content was important.

In part 1 we talk about the basics of estate planning. We define the basic terms such as wills, probate, trusts, etc. Ike talks about whether you need an attorney to set this up or whether you can do it yourself.

In part 2 we update asset protection including how practices can deal with gun violence and how practices can protect themselves. We also address the situation that Physician on Fire got into when he served on a hospital board as many physicians do and ended up being sued (with risk to his personal assets) when the hospital went bankrupt and board members were sued. We also talk about purchasing property into a trust. (Investment vs personal property). Finally we talk about the liabilities physicians face when we post on social media.

You can find out more about Ike and his company at www.proassetprotection.com

Please let your colleagues know about this podcast and add them to our private facebook group and join our email list.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.





25. Ep 30. Ike Devji part 1-- Basics of estate planning
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Description:

Welcome to the Doctor Money Matters Podcast. This is a podcast about financial topics related to the healthcare professional. I am your host Dr. Tarang Patel, a diagnostic radiologist in Arizona.

Our guest on this episode is Ike Devji, JD an attorney in Phoenix, AZ. Ike is our first returning guest. He previously discussed asset protection on episode 3 which remains one our more popular episodes. Today we will be talking about estate planning on part 1 and an update to asset protection on part 2. Both episodes will be released together, but you will need to download them separately. I apologize for some of the scratching sound you will hear during the conversation, but I didn’t want to stop recording because the content was important.

In part 1 we talk about the basics of estate planning. We define the basic terms such as wills, probate, trusts, etc. Ike talks about whether you need an attorney to set this up or whether you can do it yourself.

In part 2 we update asset protection including how practices can deal with gun violence and how practices can protect themselves. We also address the situation that Physician on Fire got into when he served on a hospital board as many physicians do and ended up being sued (with risk to his personal assets) when the hospital went bankrupt and board members were sued. We also talk about purchasing property into a trust. (Investment vs personal property). Finally we talk about the liabilities physicians face when we post on social media.

You can find out more about Ike and his company at www.proassetprotection.com

Please let your colleagues know about this podcast and add them to our private facebook group and join our email list.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.






26. William Bernstein, MD -- Lessons from an investment guru
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Description:

Episode 29.

On this episode, I interviewed a physician investing legend, Dr. William Bernstein. He is a neurologist turned financial author and investment advisor. Now most of us will not be able to reach the asset threshold need for him to manage our money, but the good news is we don’t have to. He provides great advice for the rest of us also.

I have admired Dr. Bernstein’s approach to investing for many years and want to acknowledge him as one of the pioneers of index investing. His books are a must read for those who want to learn about financial history. Despite his tremendous expertise, he is very accessible and approachable and above all a teacher.  

In this episode we discuss

His basic advice to young physicians. What he recommends you do before investing. How you can construct a very simple yet effective portfolio His thoughts on cryptocurrency How does the FIRE movement affect asset allocation/savings rate? Whether or not most physicians need a financial advisor

Dr. Bernstein’s website is  efficientfrontier.com On it there are great resources for beginning your financial education from beginner to more advanced levels.

Join our email list or private facebook group and I will let you know how to get a copy of his book If you can for free for kindle. Although even if you listen to this podcast later and it is no longer free, this book is high value advice for very nominal amount.

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

 



27. Ep 28. Kayee Tong -- Managing medical school and cryptocurrencies
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Description:

Episode 28 Doctor Money Matters.

Welcome to another Doctor Money Matters episode. In this episode I talk with Kayee Tong, a medical student in TX who is a cryptocurrency expert and recently wrote a post on passiveincomemd about paying for medical school and college with profits from cryptocurrencies.

I have mentioned my thoughts about bitcoin previously but let me reiterate that I don’t feel like its an investment rather a speculation. I am not an investment professional, and this represents my opinion alone. No one knows what will happen with Bitcoin or the other coins out there. Currently it is around $9k having hit near $20k in January 2018 and down to around $6500 a few weeks ago. Do I regret not buying it when I first heard about it in 2012? Absolutely but even then it was purely speculation. The mania from around the 2017 holiday season has died down but that was the closest I have seen to the mania surrounding tech stocks in the late 90s. During the 6-8 weeks of Dec 2017 and Jan 2018, the various social media finance groups were littered with people talking about buying cryptocurrencies. The volume has now died down quite a bit, but still questions and concerns remain.

In this episode we talk about:

The basics of the blockchain, and how he started with bitcoin. He also created a bitcoin mining operation and also ran a bitcoin exchange. The different coins that are out there His advice on speculation with coins now. What he plans on doing with his varied operations going forward His thoughts on the security of the different exchanges

He mentions ICO which is an initial coin offering, similar to a stock IPO. An ASIC rig is an Application specific integrated circuit. Basically a dedicated machine for mining only.

Mr. Tong is definitely an entrepreneur and once had a job offer from Google which he turned down prior to starting medical school. It’s amazing to see how he is able to balance his varied activities along with the demands of medical school. I expect we will be hearing from him in the future.

Check out his Quora page in which he talks about cryptocurrencies https://cryptosignal.quora.com/

The book he recommends is Mastering Bitcoin

Here is the article Kayee is mentioned on passiveincomemd.com

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

 



28. Episode 27. Drs Nisha Mehta and Parag Butala -- Achieving Balance in a Dual Physician Household
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Description:

Welcome to another Doctor Money Matters episode. This episode is about striving for work life balance within the context of a dual physician couple. I talk with a physician couple, Drs. Nisha Mehta and Parag Butala from Charlotte, NC. They are both specialists in demanding fields (Nisha is a radiologist and Parag is a plastic surgeon).

In this episode we discuss:

How they balance their professional goals between 2 high achievers What did each of them give up and how did they structure the life they want to lead How does their typical day go? The reality that you won’t be able to be the best in all aspects of your life everyday. Parag’s bucket strategy They talk about their hopes for their children How Nisha’s “side gig” has grown and altered her balance and how they both have to frequently reassess their lives General financial advice they have for other physicians

I really enjoyed talking with Nisha and Parag and this impressive couple really has a great perspective about the life they want to lead. It’s not always an easy path but financial independence is a tool to help us achieve this ultimate goal.

Nisha’s blog can be found at nishamehtamd.com

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group  where we discuss many of the topics addressed on the podcast.

Nisha’s Physician Side Gigs group is also on facebook and many of you are already part of it. I encourage you to join if you haven’t done so.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Some other physician hosted podcasts that I recommend are:

Docs Outside The Box

The Hippocratic Hustle

The Happy Doc

Doctors Unbound

The White Coat Investor
There are many others, so please support your physician colleagues.



29. Episode 26. David Anderson, DO and Victor Mangona, MD
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Description:

Episode 26 Doctor Money Matters.

This is the second part of the Episode 25 podcast.

Welcome to another Doctor Money Matters episode. This is a double episode with guests in 2 separate locations in Texas. I split the conversation into 2 separate episodes (25 and 26) so please make sure you listen to both. I interviewed David Anderson, DO and Victor Mangona, MD, 2 of the most detailed oriented and helpful members of the various physician finance facebook groups including the Doctor Money Matters group. There was a little technical issue with David’s audio so it may not perfectly clear, but bear with it as the content discussed today is pure gold.

In this episode we go into detail about many of the concepts repeatedly discussed on these various forums.

Tax rates (Effective vs Marginal) Paying down debt vs investing. Using a 529 plan to establish a legacy of education for future generations Cryptocurrency. To be fair this interview occurred while we were near the height of the mania earlier this year. The necessity vs the value of paying for financial advice. When should you pay for advice? We also discussed an interesting idea about medical schools paying for disability and life insurance for their students after hearing about a sad story in which a young medical student passed away on the interview trail. The GoFundMe page is no longer active and ended up raising $304K. Victor also outlined a strategy for how to use the funds to generate income for the family.

I hope you enjoyed this double episode and hearing the voice of 2 people who have provided valuable and detailed information to many of us in my group and many of the other forums for physicians. I know I have benefited from their well thought out analysis and explanations and I am that will continue.

Remember we are not professional planners (though David is working on that) and our discussion and recommendations may not be appropriate for everyone. Please do your own due diligence prior to acting on any topics discussed on this and any episodes of this podcast.

Please continue to let your friends, students, colleagues know about this podcast by sharing it on text, or whatever social media platform you are on and please leave positive reviews. It really does help a lot. I know its not the easiest thing to leave a review, so on iTunes/Apple Podcast via your iPhone just find the show and scroll down to where it says Tap to leave a review and put in the number of stars you feel appropriate (5 stars are the best).

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and our Facebook page also.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Some other physician hosted podcasts that I recommend are:

Docs Outside The Box

The Hippocratic Hustle

The Happy Doc

Doctors Unbound

The White Coat Investor


There are many others, so please support your physician colleagues.

 



30. Episode 25. Victor Mangona, MD and David Anderson, DO
http://www.doctormoneymatters.... download (audio/mpeg, 42.78Mb)

Description:

Episode 25 Doctor Money Matters.

Welcome to another Doctor Money Matters episode. This is a double episode with guests in 2 separate locations in Texas. I split the conversation into 2 separate episodes (25 and 26) so please make sure you listen to both. I interviewed David Anderson, DO and Victor Mangona, MD, 2 of the most detailed oriented and helpful members of the various physician finance facebook groups including the Doctor Money Matters group. There was a little technical issue with David’s audio so it may not perfectly clear, but bear with it as the content discussed today is pure gold.

In this episode we go into detail about many of the concepts repeatedly discussed on these various forums.

Tax rates (Effective vs Marginal) Paying down debt vs investing. Using a 529 plan to establish a legacy of education for future generations Cryptocurrency. To be fair this interview occurred while we were near the height of the mania earlier this year. The necessity vs the value of paying for financial advice. When should you pay for advice? We also discussed an interesting idea about medical schools paying for disability and life insurance for their students after hearing about a sad story in which a young medical student passed away on the interview trail. The GoFundMe page is no longer active and ended up raising $304K. Victor also outlined a strategy for how to use the funds to generate income for the family.

I hope you enjoyed this double episode and hearing the voice of 2 people who have provided valuable and detailed information to many of us in my group and many of the other forums for physicians. I know I have benefited from their well thought out analysis and explanations and I am that will continue.

Remember we are not professional planners (though David is working on that) and our discussion and recommendations may not be appropriate for everyone. Please do your own due diligence prior to acting on any topics discussed on this and any episodes of this podcast.

Please continue to let your friends, students, colleagues know about this podcast by sharing it on text, or whatever social media platform you are on and please leave positive reviews. It really does help a lot. I know its not the easiest thing to leave a review, so on iTunes/Apple Podcast via your iPhone just find the show and scroll down to where it says Tap to leave a review and put in the number of stars you feel appropriate (5 stars are the best).

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and our Facebook page also.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Some other physician hosted podcasts that I recommend are:

Docs Outside The Box

The Hippocratic Hustle

The Happy Doc

Doctors Unbound

The White Coat Investor


There are many others, so please support your physician colleagues.





31. Episode 24. Physician on Fire, MD -- Achieving Financial Independence
http://www.doctormoneymatters.... download (audio/mpeg, 46.37Mb)

Description:

Welcome to another Doctor Money Matters episode. This is a great episode. I got to interview one of the superheroes of physicians and finance, the Physician on Fire, the anonymous anesthesiologist who started the very popular financial blog by the same name.

In this episode we talk about how he decided to go down the FIRE (financial independence, retire early) path, his plans now that he has reached FI (financial independence), and his advice for those who are interested in following this path.

We also get into some detail about how he calculated the numbers to determine he had achieved his goal. We also took some questions from social media and discussed his brewery investment and his own personal beer brewing hobby.

A couple of the concepts discussed in this episode:

Geographic arbitrage -- Practicing in a low cost of living area while making a great income allows you to save more faster. Sequence of returns risk -- The idea that what happens to your assets (the total returns) around (immediately prior to and immediately after) retirement can determine how comfortably you can withdraw from your overall asset pool. Savings rate -- how much you should be saving as a percentage of post tax income. He challenges people to live on half your take home pay if you want to reach FI sooner. He has now reached a 75% savings rate after reaching FI as he doesn’t have a mortgage or doesn’t need to pay for disability insurance Donor Advised Fund -- An investment account that set up can make charitable contributions to via donated stock or other assets. This account can then continue to grow via the market and you can choose to make your charitable contributions over time.

Clearly this mindset has resonated with many people as the FIRE community has exploded. PoF’s website has demonstrated significant growth over its 2 year existence and he has provided valuable resources for those interested in these topics.

I want to thank PoF for joining us on the podcast. I encourage you to visit his Physician on Fire blog where you can get very valuable information.

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Some other physician hosted podcasts that I recommend are:

Docs Outside The Box

The Hippocratic Hustle

The Happy Doc

Doctors Unbound

The White Coat Investor


There are many others, so please support your physician colleagues.



32. Episode 23. Eric Tait, MD MBA -- Altering your financial mindset due to changes in medicine.
http://www.doctormoneymatters.... download (audio/mpeg, 37.82Mb)

Description:

Episode 23 Doctor Money Matters.

Welcome to another Doctor Money Matters episode. In this episode I talk with Eric Tait, MD, MBA,  an internist and asset manager who started his own investment firm. We discuss why physicians need to achieve financial independence. Dr. Tait’s has a very well thought out perspective on the future of medicine and we talk about how he separated his financial success from the practice of medicine.

Eric was influenced by his work for an insurance company while obtaining his MBA. This experience helped him realize how physicians are viewed as just another labor cost center. As physicians we generally don’t think about how we are viewed by the people who pay us. (Remember for most of us it’s not the patients who pay.) He then realized he had to become financially independent as soon as possible and developed a systematic approach to achieving this. We do this when doing a procedure or reaching a diagnosis and I think its valuable in the investment world also.

Ultimately he chose to use real estate to achieve his goal of financial independence but he talks about how he analyzed different asset classes and arrived at this decision.

We also briefly talk about his views on cryptocurrency and then how his fund works.

Finally we discuss some of the successes and mistakes he has made as an investor.

It’s great to see fellow physicians taking charge of their own financial future rather than having it handed to them.

As always the discussion on this show is for your education and entertainment only and is not personalized investment advice. Please do your own diligence prior to investing in anything.

I want to thank Dr. Tait for being my guest on this episode of Doctor Money Matters. I hope he inspired you to analyze your own mindset about your investments and your financial future as a healthcare professional.  Ultimately, I will still lean towards simple investment approaches but I enjoy learning about different options.

Eric’s company can be found at Vernoville.com and he just started his own podcast recently called The Physician’s Road. Please be sure to check it out.

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.



33. Episode 22. Ali Chaudhary, MD -- Striking out on your own
http://www.doctormoneymatters.... download (audio/mpeg, 34.49Mb)

Description:

This episode is about taking control as a physician and learning your value. Many doctors don’t understand their dollar value as practicing physicians. It’s not discussed formally in most training situations and we generally are happy with the increase in salary we get from residency/fellowship to becoming attendings. My guest today Dr. Ali Chaudhary had similar experiences as many of us as he transitioned from training.  However, he decided to do something about and start his own locums company when he realized how much these agencies were making on top of what they were paying him.

In this episode we talk about how he did this, why he did this and how his experience can help other physicians discover their own value. We also discuss the pros and cons of going independent. Whether you are happy with your current employment situation or are itching for a change, being aware of your value will place you in a better position for the future.

 We also talk briefly about angel investing and Ali’s experience with it. He is from the Silicon Valley area and so it comes in his DNA. It’s a high risk, high reward type situation that has become more accessible for physicians recently. I’m not recommending it for most of us, but we should be aware of all the investment possibilities out there.

I want to thank Dr. Chaudhary for being my guest on this episode of Doctor Money Matters. I hope he inspired you to take control of your own career and learn more about your financial value as a physician. Doctors need to help make the healthcare system more efficient. This is one way to bring down overall healthcare costs while keeping those who provide the care paid appropriately. 

Ali’s company can be found at locumsunited.com

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Some other physician hosted podcasts that I recommend are:

Docs Outside The Box

The Hippocratic Hustle

The Happy Doc

Doctors Unbound

The White Coat Investor


There are many others, so please support your physician colleagues.



34. Episode 21. Peter Kim, MD -- Help with buying your home
http://www.doctormoneymatters.... download (audio/mpeg, 25.89Mb)

Description:

Episode 21 Doctor Money Matters.

Welcome to another Doctor Money Matters episode. I would like to thank you for listening. It’s been a year since I started this podcast and creating it has been a great educational experience for me. I really appreciate all my guests for participating and joining me on this journey and I hope you the listener have gotten something out of it as well and my ultimate goal is to help physicians and other health care professionals reach financial independence earlier by avoiding the usual pitfalls that has tripped them up previously.

I have made many of these mistakes including buying a house in Las Vegas right out of residency at the height of the real estate bubble. I didn’t listen to my own instincts and bought a house even though I knew the price was too high. Well within a few months, the prices dropped and kept dropping for 4 years till prices were 60% less than my purchase price and 70% less than the peak. It was an expensive lesson that has definitely affected my views on personal real estate.

My guest on this episode is Dr. Peter Kim, an anesthesiologist, entrepreneur who helps physicians with one of the biggest purchases they have, their home. Peter is the founder of Curbside real estate which we will talk about on the show.

We discuss his approach to buying your own home, what a physician loan is, the status of the real estate market. We also discuss how is able to juggle being a physician, father, entrepreneur and his advice for medical students and residents.

I want to thank Dr. Peter Kim for being my guest on this episode of Doctor Money Matters. Buying a home is one of the largest purchases most of us will make, but it can be made easier by getting good advice. My advice is that a personal residence is not an investment but rather an expense item. It can turn out profitable but I wouldn’t rely on it to appreciate.

Peter’s company can be found at Curbsiderealestate.com

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Some other physician hosted podcasts that I recommend are:

Docs Outside The Box

The Hippocratic Hustle

The Happy Doc

Doctors Unbound

The White Coat Investor
There are many others, so please support your physician colleagues.



35. Episode 20. Kevin Pho, MD -- Social Media for healthcare professionals
http://www.doctormoneymatters.... download (audio/mpeg, 17.96Mb)

Description:

Episode 20. Kevin Pho, MD -- Kevin MD

This episode is about using social media to spread your voice beyond the your local area. Obviously social media has had a tremendous impact on our lives in its relatively short existence from connecting with friends and families to how we get our news to professional development. But how can physicians and other healthcare professionals really take advantage of it and should they? I discuss this with my guest Dr. Kevin Pho. He started this website KevinMD long ago (in Internet time). He talks about how he started and how it has grown and allowed him to also become a leading physician voice.

I want to thank Dr. Pho, because he agreed to do this podcast at a time when I had just started out and really had no audience. I purposely delayed releasing this episode in order to build up the audience on my own a little and I want to thank you the listeners for being part of that growth. One of the great things about social media that has allowed us to get into contact with other people like Kevin who are generous with their time and expertise. I hope he inspired you to get out there and get your voice heard on social media. It’s vitally important that people with real scientific expertise engage the public and not be drowned out by the celebrity pseudoscience.

Dr. Pho’s website is at KevinMD

He started a Physician Speaking Facebook group recently for physicians interested in becoming speakers.

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

Twitter @drmoneymatters

Instagram @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Some other physician hosted podcasts that I recommend are:

Docs Outside The Box

The Hippocratic Hustle

The Happy Doc

Doctors Unbound

The White Coat Investor


There are many others, so please support your physician colleagues.



36. Episode 19. Bonnie Koo, MD -- Helping Independent Women find Financial Clarity
http://www.doctormoneymatters.... download (audio/mpeg, 21.69Mb)

Description:

Episode 19 Doctor Money Matters.

On this episode, my guest is Dr. Bonnie Koo, a dermatologist/finance blogger who is helping educate physicians about the essentials in personal finance. Since we recorded this episode, Bonnie has had many changes in her life including becoming a mother, moving from NY to Philadelphia (Super bowl Champs) and changing her practice type from employed to private practice.  

Many of you may have heard Bonnie on the Hippocratic Hustle podcast hosted by my fellow physician and podcaster Dr. Carrie Reynolds.

In this episode, we talk about some of the issues for those in high income areas, how Bonnie transitioned from a different field into medicine, and how she became interested in finance. She is well on her way to achieving financial success despite a later start in the medical field than most.

Since the last episode, the stock market had a minor correction. It’s important to not let the swings in the stock market change your overall investment mindset. This is just noise and it should not deter you from investing. If anything, consider the recent drop which has partially recovered, a small sale. Cryptocurrencies on the other hand have had a major correction, which also have partially recovered. I am not going to give any recommendation on those however.

Bonnie’s Blog is at www.missbonniemd.com

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Some other physician hosted podcasts that I recommend are:

Docs Outside The Box

The Hippocratic Hustle

The Happy Doc

Doctors Unbound

The White Coat Investor


There are many others, so please support your physician colleagues.



37. Episode 18. Drs. Bepko -- Military medicine to world travelers
http://traffic.libsyn.com/doct... download (audio/mpeg, 36.25Mb)

Description:

Episode 18 Doctor Money Matters.

On this episode, my guests are Drs. Steven and Jenny Bepko, 2 retired Air Force Physicians who are now traveling around the world with their children. In this episode we talk about their careers in the military, the nuances of the military medical system,  their experience with finances and deployment. Finally we talked about their world tour with their children this year.

I hope this episode gives you an insight and appreciation of military medicine. I also hope that more of us use the Bepkos example to do something interesting and unique while you are young. It’s not just about saving to reach higher and higher net worth.

Thanks for listening to this episode. I want to thank the Bepkos for talking with me and I wish them continued safe travels.

At the time of recording, they were in Argentina, but have since gone to Africa, the middle east, India, and are now in New Zealand, I believe. They are now slightly more than half way through the trip.

The Bepkos have a blog documenting their travel at bepkosgoglobal.blog.

Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Some other physician hosted podcasts that I recommend are:

Docs Outside The Box

The Hippocratic Hustle

The Happy Doc

Doctors Unbound

The White Coat Investor


There are many others, so please support your physician colleagues.



38. Episode 17. Valerie Jones, MD -- Retired from medicine at age 37
http://traffic.libsyn.com/doct... download (audio/mpeg, 27.36Mb)

Description:

Episode 17 Doctor Money Matters.

On this episode, my guest is Valerie Jones, MD an OB/GYN physician who decided to retire from medicine at age 37. We talk about her background and what led her into and eventually out of medicine. We also discuss how she was financially able to retire at such a young age and advice she has for other physicians.

Dr. Jones currently blogs at www.obdoctormom.com and also has written some articles for the Kevin MD website. I think many physicians will be able to relate to the stressors that led to this decision in their own practice or that of their colleagues.

Key points include living off of one income, rapid loan paydown, and non extravagant living.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook.

You can follow me on twitter @drmoneymatters

Please consider joining the Doctor Money Matters Facebook group.
Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.



39. Episode 16. Tom and Kim Rairdon -- High Income Parents
http://www.doctormoneymatters.... download (audio/mpeg, 30.19Mb)

Description:

How do you balance finances and family? It’s a challenge for most physicians, particularly with school age children.

In this episode I talk with Tom and Kim Rairdon of the High Income Parents blog. They focus on many of the financial and family issues that physicians with children face including college savings, retirement, balancing work and family.

Tom is an anesthesiologist in Texas. He and Kim have 5 children, who she homeschools. Listen to the episode and how they talk about how they decided on taking this approach to their children’s education.

Thanks for listening to this episode and for the continued downloads of this show. The numbers are growing and I really appreciate it. Thanks to Tom and Kim for joining us today. I really enjoyed hearing about the success and challenges they have with getting to financial independence with 5 kids. I’m sure with their determination, they will achieve this sooner than they expect. They also have good ideas about children and allowances.

What about you, where are you in your plans for financial independence? Message me on Twitter or join the Doctor Money Matters Facebook group.

You can read Tom and Kims blog at HighIncomeParents.com and you can follow them on twitter @HighIncParents

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only)

Thanks for listening and please continue to share with your colleagues.



40. Episode 15. Eric Levi, MD -- The dark side of doctoring
http://www.doctormoneymatters.... download (audio/mpeg, 28.96Mb)

Description:

In this episode I talk with Dr. Eric Levi, an ENT surgeon who created a viral article recently relating to physician burnout and lack of job satisfaction called the Dark side of doctoring. Eric wrote this article based on his experience as a specialist nearly completing the long process of training in Australia, but I think his experiences are comparable with listeners in the US and other western nations.

He has a series of these articles that I encourage to you read on his website.

While this particular episode is not necessarily a financial discussion, physician burnout if it leads to leaving the profession obviously will have major financial consequences.

Many physician colleagues are talking about these issues today and I think what Eric wrote about and what we speak about on this episode will sound familiar but he is hopeful that the system is now ready for change.

There have been a number of physician suicides that led him to write these articles. I want to encourage those of you who are listening to this show to speak with your colleagues and maintain the social relationships that help us deal with our stressors. I think Eric makes a point in our discussion about the demise of the informal support groups that used to be more common in the past, such as going out for coffee or drinks. Let’s make it a point to engage our colleagues in these relaxed social activities.

One other point that he makes that should hit home is if you can find 20% of your work to be meaningful, you will have greater job satisfaction even if the other 80% is monotonous. By continuing to learn new skills in your field, teaching students or residents, or branching into leadership positions, you can improve satisfaction.

Finally I know many physicians and administrators don’t have the best relationships, but remember at the end of the day, both groups work for the patient. Lets remember that.

You can read Eric’s articles at EricLevi.com and you can follow him on twitter @drericlevi

The article The Dark side of doctoring is linked here.

More episodes of this podcast are available at www.doctormoneymatters.com

Thanks for listening and please continue to share with your colleagues.



41. Episode 14. Bob Collins -- Physician Recruitment
http://www.doctormoneymatters.... download (audio/mpeg, 16.44Mb)

Description:

In this episode I talk with Bob Collins of the Medicus Firm, a physician recruitment firm. Bob has spent many years in this field and gives great insight into the job hunt. Many physicians now use a recruiter to help with searching for the right job.

We talk about the job market and what is hot right now in the medical field, what can a recruiter do for you, and some of the tips he has gained from years in this field. Primary care and psychiatrists seem to be in major demand.

Whether you choose to use a recruiter or not, I think it is valuable to know what they can do for you. In my opinion, using a recruiter is much like using a financial advisor or real estate agent, you can do this yourself, but having someone help guide you may help prevent mistakes in this process.

 

Key points in this episode

 

Start the process early, particularly if you are in a field that may not be in as much demand. Involve your significant other in the process. Many times a job maybe fine, but the situation is not great because your partner is unhappy with the location. Salary is only one component of a great job. Location and work environment are the other big factors. It can be hard to get all three in one situation. You should weigh how important each of these factors are to you and your family before selecting a position Use all the resources at your disposal to find the job that is your best fit. Stipends and loan repayment are starting to become more common again for in demand fields.

Remember your first job is likely not the one you will stay with forever as healthcare is not immune to the rapid workplaces changes in most fields. Keep up with the job market even if you are in a good situation currently.

You can find out more about The Medicus Firm at www.themedicusfirm.com

More episodes of this podcast are available at www.doctormoneymatters.com

Thanks for listening and please continue to share with your colleagues.



42. Episode 13. Charles Cochran, MD -- Lifeofamedstudent.com
b4ff53a44e02fc1bed97cab82d2479... download (audio/mpeg, 16.76Mb)

Description:

Welcome to the DMM Podcast. I am doing a series on social media and a few of my upcoming guests will be physicians who have used social media to create a strong following. I think it is important to understand the pros and cons of social media, and to realize that many of our patients use it to access information about us as practitioners and for health topics in general. Its also a great way to network and educate ourselves about the latest topics in our fields. Finally some physicians have been able to develop their own brand separate from where they practice and really become immune to local practice issues. I think there is a lot to be learned from those who have used social media well.

Today’s guest Dr. Charles Cochran, started a popular twitter account life of a med student that led to his website as you will hear about during our interview. It has turned in a very popular site and account for medical students worldwide to share their experiences.

I want to thank my guest today Dr. Charles Cochran for coming on today and talking about his experience with building a social media presence. You can follow him on twitter @lifeofmedstudnt and on his website at www.lifeofamedstudent.com

Here is the article about the dark side of doctoring by Dr. Eric Levi. I am excited to have him as our guest on an upcoming episode.

What do you think about social media for physicians? What are the platforms you use? Email me comments@doctormoneymatters.com or send me a message on Facebook or twitter.

As always, thanks for listening and please leave a positive review on Apple Podcast, stitcher or wherever you listen.



43. Episode 12. Tarang Patel, DO -- Roboadvisors
http://www.doctormoneymatters.... download (audio/mpeg, 21.09Mb)

Description:

This is my first solo episode.

I talk about roboadvisors and the pros and cons of using them. I also review some of the larger and most popular companies providing this service.

What is a robo-advisor? It is a computer algorithm based approach to managing your investments. (Note this generally applies to your stock market accounts) A robo advisor is designed to eliminate the need for an individual to make trading decisions about the stocks or ETFs in an account.  This is not the same as Wall Street computer-based trading which can be millions of trades in a day. Rather, this is designed to simulate a financial advisor in optimizing asset allocation and rebalancing a portfolio when necessary to achieve diversification and some of them are supposed to do tax loss harvesting to reduce the capital gains and possibly reduce some of your income tax as well. These are not generally designed to replace the other aspects of a financial advisor such as goal planning, advice about insurance, tax advice, etc.

So what are the pros and cons of a robo advisor while one benefit is there extremely low cost compared to the average financial advisor most financial advisers range from .75 to 1.25% of your assets under management. Now, there a is a trend of financial advisors going to fixed cost management such as a fixed fee whether you have $100,000 or $2,000,000 under management but those are still the exception rather than the rule.  These advisors are still more expensive than Robo advisors but as noted above, they provide you with a more broad array of advice. If you do end up choosing a human financial advisor make sure you pick a fee-only advisor or a flat cost advisor who holds the CFP designation and is a Fiduciary.

Now getting back to Robo advisors, some of the pros include low cost. The majority range from  free to 0.35% of assets under management, though a few are slightly higher and I'll talk about those when I discuss the individual ones. The majority of the robo advisors don't trade individual stocks, rather they use a portfolio of ETFs to give you a wide diversification. In my opinion however, you can generally achieve this diversification with only a few individual ETFs. The second Pro of these Robo advisors is they eliminate this work for you you can just put your money in and basically let the computer do its thing and you don't have to worry about anything else other than when you end up needing the money.  In my opinion however this is probably not the best way to approach any advisor whether it's a robo advisor or human advisor after all this is your money you're putting in if you just put it in and basically ignore what's happening you are at risk for any number of issues. Always pay attention. It doesn't mean you have to make the individual trades or decisions but just know what's going on and that could be as simple as looking at your statements every quarter so that you're just aware of what's happening. You may not have any issues and that's the ideal scenario .

The next benefit of Robo advisors and probably the one that is talked about the most is the tax-loss harvesting. Some of these advisors claim that by optimizing tax-loss harvesting you will improve your returns. If done properly it should override the cost of the majority of these Robo advisors by a significant amount. What is tax-loss harvesting? Tax loss harvesting is where the government allows you to reduce your capital gains and your income tax by subtracting any losses you've had from your investments from any games you've add so for example let's say you own an ETF which covered the S&P 500 and that ETF you've had it for 5 years and the S&P has done relatively well over the last five years has gained $5,000 so you had a $10,000 investment and it's $15,000 now I'm not sure if those are the exact numbers but let's just use that so if you had another ETF let's say was an international ETF and for whatever reason that ETF did poorly and you lost $4,000 Your gain of $5,000 is subject to taxes if you only sold the position where you had a game but you also have this International ETF where you lost $4,000 so if you take the two together and your Net gain is only $1,000 and you only owe taxes on that thousand dollars. now let's say instead of a gain of $5,000 you only had a gain of $2,000 and you had the same $4,000 loss on the international ETF well in that case your net loss is $2,000 and that can be used against your ordinary income which for most positions is taxed at a higher rate than long-term capital gains so that tax loss of $2,000 is actually worth more to you because it can reduce your income of let's say $250,000 to now $248,000 and that's what you can text on which can be a savings of a few hundred dollars on your taxes.  So why does a robo advisor do this better than humans and what ends up happening is that most years  unless you need to sell the underlying security you don't want to take anything with a game particularly in a taxable account because you basically reduced your Net game because you have to pay the rest in text so you're better off holding games for as long as you can but of course within reason because at some point you will have to take the money out when you need it but none like you should be taking every year use them to reduce your regular income as much as possible now as a loss

Okay so that is tax-loss harvesting and if done properly it can help boost your returns. The promise of Robo advisors is that they'll do this for you so you don't have to think about it at a fraction of the cost of a human advisor.

So what are some of the cons of picking Robo advisors well one is the cost like I said it's not free for the most part there are a few that are for me but they tend to have a little bit more limited services. the next is and I don't know that this is particularly on it's just that you could probably do this yourself without spending that much time and get almost similar results. Now  in my opinion most of the time you're probably better off simplifying your accounts as much as possible and doing the stuff that you do need to do on your own just so that you are aware of your finances and no one for lack of a better term screw with you.

Who are some of the companies that have these Robo-advisory services

The most famous ones and probably some of the earliest ones are betterment and wealthfront other companies include wisebanyan and then some of the larger discount brokerages now offer these services such as Vanguard Schwab fidelity. some of the traditional Wall Street firms such as Merrill Lynch and Morgan Stanley also offer these but I don't have enough information about reviewing them.

So let's talk about the individual companies now

Betterment

0.25% fees. (0.4-0.5% if you want access to a human CFP, only available on portfolios over $100k Fees not charged for any assets over $2mil Uses low cost Vanguard and iShares ETFs (No trading costs, but the ETFs have their own fees (low cost but are not included in the above management fee) Claim to generate an extra 2.66% in annualized return over 20 years on a $100k portfolio based on Passive investing Tax harvesting Better behavior In my opinion, I would only count the extra (0.4%) for tax loss harvesting as a true gain, because the other 2.2% can be achieved by anyone who uses index funds or ETFs and does a buy and hold philosophy

Wealthfront

0.25% fees Claim up to 2.05% increase in returns due similar factors as Betterment Unique feature called direct indexing (instead of using ETFs, if you have >100k in your account they buy a portfolio of individual securities to improve tax loss harvesting opportunities (Basket of 1000 stocks which always has some losers so you should have more likelihood of being able to take losses against income vs ETF which is the average of all these stocks so if market is up you can’t take a loss even though some stocks are likely down) Link to the methodology on my website. If you do use this feature or even with ETFs you have to make sure that you don’t make any transactions in accounts not managed by the robo-advisor which may conflict with IRS Wash Sale rule A wash sale is the sale at a loss and purchase of the same security or substantially similar security within 30 days of each other. If a wash sale transaction occurs, the IRS may disallow or defer the loss for current tax reporting purposes. More specifically, the wash sale period for any sale at a loss consists of 61 calendar days: the day of the sale, the 30 days before the sale, and the 30 days after the sale. The wash sale rule postpones losses on a sale, if replacement shares are bought around the same time. Features Passive Plus (Basic robo-advisor service similar to others) Direct Indexing (Kicks in for free once assets > $100k) Advanced Indexing (Alternative weighting to traditional market cap ETFs) Kicks in for free once assets > $500k Link to explanation about advanced indexing. Uses Low cost ETFs (Avg fee is 0.12% so net fee is around (0.37%)

Vanguard Personal Advisor Services

Hybrid model with Human and robo advisor Need $50k to invest. Fee 0.3% plus ETF costs They give you a dedicated advisor if >$500k managed Mostly vanguard products but can use others (you may incur transaction costs but likely minimal Not quite as much automated tax loss harvesting

Wise Banyan

No management fee at all for basic account No trading fees Low cost ETFs (ave .12%) Only for individual taxable accounts or IRAs (No joint accounts with spouse or kids trust accounts) Tax loss Harvesting is extra (0.25% up to $96k. No additional cost after that)

Schwab Intelligent portfolios

No management Fee Account Minimum $5000 Variety of portfolios (including conservative moderate and aggressive) Pro or con is they maintain a cash position which can be a drag on return (they can also make money by loaning out this cash) Tax loss harvesting available if portfolio > $50k

SoFi Wealth Management

0.25% fee (First 10k free and no management fee if you are existing SoFi loan customer No tax loss harvesting Low account min ($500)

Personal Capital

High cost (0.89% up to $1 mil) reduces incrementally downward at higher levels Great App to track investments (free but they will call you occasionally to try to get business) Minimum investment amount $100k

Fidelity Go

0.35% fee ETF only (Fidelity or BlackRock iShares) No tax loss harvesting $5k minimum

DIY (Do it yourself)

First don’t bother in a retirement account. (No need to TLH) If you don’t have much interest, use a target date fund. Alternatively use a 2 or 3 fund portfolio of a US Total stock, Total International Stock, and Total Bond fund. If you are far from retirement you can eliminate the Bond Fund. Here is a link to simple portfolios that you can use from bogleheads.org. Most retirement plan providers have some index funds in them and it will save you thousands of dollars over the long run if you take the time to find them when you first start In a taxable account, there are a few simple options. Again you can use a target date fund to keep it really simple, or you can use the multi fund portfolios. In a taxable account, it may make more sense to use a few more funds/ETFs so that you have the ability to TLH.

I personally do the DIY, but I am not sure it is the best over the long term. At the time of this podcast recording, I have no robo advisors, but I do have accounts with some of the companies mentioned. I do not currently receive any advertising from these companies. In my general opinion, the best options seem to be Wise Banyan for those who are just starting out, and Wealthfront for those with more assets to invest. I'm sure the other companies are fine also. Remember I am not a financial advisor, rather a DIY investor. Please do your own due diligence before investing with any of these companies.



44. Episode 11. Keith Smith, MD -- Fixed Cost Surgery
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Description:

As healthcare professionals, we can all agree that the healthcare system in the US is broken. It's too difficult to maneuver for patients and practitioners alike. Today we talk with Dr. Keith Smith, anesthesiologist and a founder of the Surgery Center of Oklahoma. This practice is a pioneer in cost transparency and as you will hear during our interview, charges a fixed price for many common outpatient surgeries. Dr. Smith and his partners understood many years ago the challenges of dealing with insurance companies and decided to break free by switching to this model. This episode complements the direct primary care model that was highlighted in episode 6 with Dr. Josh Umbehr. Keith was very straightforward in this interview about his feelings about the intervening parties involved in healthcare today, (government, insurance co, etc.) I think many of you listening can relate to these frustrations. The difference is that he is doing something about it, and I hope that by listening to the challenges faced and the benefits gained, we physicians are inspired to take back control about the health care that we deliver.  

Dr. Smith definitely gets you fired up about empowering physicians to take charge of their own destinies. Ultimately, costs in the US Healthcare system will be reduced and it is imperative that physicians lead this change rather than have it dictated to us. The Surgery Center of Oklahoma  is one model that is producing results. 4 price decreases in the last 9 years, with no increase in surgical costs and yet the doctors remain well paid and more importantly are independent decision makers.

Click here to learn more about the Surgery Center of Oklahoma.

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to comments@doctormoneymatters.com

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks again and look for our next episode coming soon.



45. Episode 10. Kenyon Meadows, MD -- Real Estate Investing
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Description:

Are you looking for passive income?  Are you afraid of putting all your investment eggs in the stock market? Have you ever thought about buying real estate as an investment? My guest today had those thoughts when he decided to get into real estate investing after the economic downturn of 2008-2009. Dr. Kenyon Meadows is a radiation oncologist in SE Georgia who has branched out his investments to include real estate in the form of single family homes, hard money lending, and crowdfunding.

I want to thank Dr. Meadows for being our guest today. He gave us great information about starting in real estate investing.

Real estate can be a great way to diversify your investment portfolio. There are some real profits to be made if you invest at the right time and locations. It can be a great source of long term passive income, but is not very passive at the outset. As a high income health care professional make sure you protect your assets before buying real estate.

Timing is key, and we have had a long run of very low interest rates. I dont know if the rates are going up any time in the short term (say next 2-3 years) but likely they will go up in the longer term. This low interest rate environment has pushed many asset classes to higher valuations as investors look for yield. I encourage you to be extra cautious and really do the due diligence before putting your money in.

If you are interested in learning more about Dr. Meadows and his company the website is alternativefinancialmedicine.com.

You can also get his book Alternative Financial Medicine directly at Amazon

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to comments@doctormoneymatters.com


Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.



46. Episode 9. Joseph Kim, MD MBA -- What you need to know about physician MBAs
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Description:

Have you ever thought that you need more business knowledge? Are you considering an MBA so that you can move into the administrative or corporate world? I have thought about it for years. My guest on this episode is Dr. Joseph Kim, MD, MBA. He has served as faculty for the American Association for Physician Leadership (formerly known as the American College of Physician Executives). He has written articles for the Physician Leadership Journal (formerly known as the Physician Executive Journal). He has spoken to physician groups about the value of the MBA for healthcare professionals. Listen to this episode before you spend thousands to hundreds of thousands of dollars to get another degree.

I used to think it was vital for physicians to get the MBA degree, but now with all the options for learning out there, the knowledge can be obtained without the expense. Dr Kim is right that the networking the MBA can offer is key, however most people going back for executive MBAs are not getting the same networking benefits that those who attend full time are going to get. I also have seen that many hospital executives that earned a management degree have not gone to high level programs and yet they have worked their way up, so I dont think you need to spend a lot of money to get a brand name diploma unless you want to work on wall street or at a major corporation.

If you are interested in learning more about Dr. Kim and his company the website is www.drjosephkim.com his other websites include http://www.nonclinicaljobs.com/

And his most recent company q synthesis a healthcare education and implementation company.

Please visit our website at www.doctormoneymatters.com

I would love to discuss this topic further. You can comment on our social media sites listed below

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on Apple Podcast, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to comments@doctormoneymatters.com

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks again and look for our next episode coming soon.



47. Episode 8. Jon Appino -- Employment Contracts
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Description:

This episode is about employment contracts. This episode is packed with information about what you need to look for before signing the contract. Many health care professionals change jobs more frequently than ever before and even if they stay where they are the terms of employment may change. You need to be aware of the key items in the contract.

My guest is Jon Appino of Contract Diagnostics a contract review firm in Kansas City. Jon and his team only deal with physician contracts and have a ton of experience in this field. This is a longer episode, but I encourage you to listen to the end, it could save you major headaches before you sign your next contract.

If you are interested in learning more about Jon and his company the website is www.contractdiagnostics.com

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to comments@doctormoneymatters.com

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks again and look for our next episode coming soon.



48. Episode 7. Travis Hornsby -- Student Loans
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Description:

This episode is about student loans. If you are or recently were in medical, dental, or other health professional school, you already know that education costs are out of control. Costs at the Univ of Pennsylvania, one of the nation’s best medicals schools was $1200 in 1960, rising to $20000, by 1990 and $58000 by 2016 (according to their website http://www.archives.upenn.edu/histy/features/tuition/1960.html).  This is insanity and completely unsustainable. Incomes have not kept up with this rise and therefore students are almost forced to go into higher paying specialties.

Maybe we should contact our alma maters and tell them that continuing to raise tuitions is jeopardizing the ability of many to enroll in these schools and therefore becoming a concern to the healthcare of our nation.

My guest is Travis Hornsby of studentloanplanner.com. Travis is an entrepreneur who learned early the value of staying away from debt and now uses his knowledge to help the many americans burdened by student loan debt.

If you are interested in learning more about Travis and his company at www.studentloanplanner.com

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to comments@doctormoneymatters.com

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks again and look for our next episode coming soon.



49. Episode 6. Josh Umbehr, MD -- Direct Primary Care
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Description:

Welcome to the Doctor Money Matters Podcast. This is a podcast about financial topics related to the healthcare professional. I am your host Dr. Tarang Patel, a diagnostic radiologist in Arizona.

This episode is about Direct Primary Care. This is a practice model that is an evolution of the concierge medical practices that you may be familiar with.  Our guest, Josh Umbehr, MD is a family medicine physician in Wichita, KS who (with his partner Doug Nunamaker) started Atlas MD. This is a low cost subscription primary care practice which maybe the template for lowering costs and improving outcomes. Josh talks about how his practice works and you will be amazed by how much he can decrease costs for the patients, decrease patient volumes for the doctors while being able to maintaining incomes. It sounds like a win-win solution.

Atlas MD is an example of how physician leadership is the best way to achieve cost reduction and great patient care. Josh has been featured on national media to talk about this model and does an excellent job explaining it.

If you are interested in learning more about Atlas MD or the direct primary care model, please visit their website at www.atlas.md

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to comments@doctormoneymatters.com

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks again and look for our next episode coming soon.



50. Episode 5. Cory Fawcett, MD -- Eliminating Debt
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Description:

Welcome to the Doctor Money Matters Podcast. This is a podcast about financial topics related to the healthcare professional. I am your host Dr. Tarang Patel, a diagnostic radiologist in Arizona.

Our guest was Cory Fawcett, MD a recently retired surgeon in Oregon who has written books for medical professionals including Eliminating Debt which we talked about on the show. It and his other books are available on Amazon or his own website drcorysfawcett.com

By eliminating debt from student loans, mortgages, practice expenses early, Dr Fawcett was able to cut back on the areas of his surgical practice that he did not enjoy. While he thought it would reduce his income, he actually was not impacted that much and found that he enjoyed his practice more. Too many health care professionals get caught up in the doctor lifestyle and find that they have to continue working extremely hard to maintain it. This can contribute to burnout. Get off the debt treadmill.

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to comments@doctormoneymatters.com

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks again and look for our next episode coming soon.



51. Episode 4. Anjali Jariwala, CPA -- Taxes
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Description:

 

Welcome to episode 4 of the Doctor Money Matters podcast. We discuss the tax issues and finances with Anjali Jariwala, CPA founder of FIT Advisors. Taxes are a major issue for many high income healthcare professionals and proper planning can help minimize the pain.



52. Episode 3. Ike Devji, JD -- Asset Protection
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Description:

 

    Welcome to Episode 3. In this episode our guest is Ike Devji, JD an attorney in Phoenix, AZ who specializes in asset protection. This is an area of finance in which many healthcare professionals have little knowledge. Listen to Ike as he explains important concepts that you need to take to protect your assets prior to a lawsuit.   



53. Episode 2. Joel Greenwald, MD, CFP Basics of Financial Planning
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Description: Welcome to episode 2. In this episode, our guest is Joel Greenwald, MD, CFP an internist who became a financial planner. Dr. Greenwald's company focuses on helping health care professionals with their financial situation. We discuss what to look for in a financial planner, when to start this process, and what you need to learn about retirement accounts.  Click here for the episode 2 continuing education quiz.    

54. Episode 1. Jamie Fleischner — Disability and Life Insurance
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Description:

Welcome to the premiere of the Doctor Money Matters podcast. This episode starts with a short introduction about the podcast and your host, Tarang Patel, DO. We then discuss the basics of disability and life insurance with Jamie Fleischner, the founder of Set for Life Insurance, in Colorado. Jamie talks about what you need to know when buying these important policies which are part of a good financial foundation. Healthcare professionals are a big target for some unscrupulous insurance agents. Get educated about these topics before purchasing any policies. Click here to take the episode 1 continuing education quiz.