Money Meets Medicine
169 episodes - English - Latest episode: 5 days ago - ★★★★★ - 197 ratingsOn Money Meets Medicine, Dr. Jimmy Turner discusses all things career and finance for physicians. With expert guest discussions, Jimmy tackles the personal finance topics you wish you had learned in medical school.
The MMM podcast will help you tackle your student loans, achieve financial independence, invest for retirement, and decrease your financial stress and burnout.
To get help with free educational content or obtaining own-occupation disability insurance from a source you know you can trust, visit https://moneymeetsmedicine.com
Background: Dr. Turner is a practicing anesthesiologist at Wake Forest, author of The Physician Philosopher's Guide to Personal Finance, and Chief Medical Officer at Attend.
For more information, visit moneymeetsmedicine.com
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Episodes
Should You Take on More Debt or Pay off Debt in a Low Interest Rate Environment?
March 24, 2021 08:00 - 34 minutes - 26.6 MBRyan and Jimmy go back and forth on the pro's and con's of paying off debt vs investing during a time when interest rates are at historic lows. Like everything in personal finance, your situation may vary, but Ryan talks about how it might even make sense to take out debt because rates are so cheap. Do you need help understanding and maximizing your contract benefits? Then check out Contract Diagnostics at www.doctorpodcastnetwork.com/contractdiagnostics.
This New Technique is the Best Way to Make Money
March 17, 2021 08:00 - 32 minutes - 23.9 MBThis episode is going to make you mad that you didn’t realize this was the one thing you could be doing to make a ton of money. While we talk about FOMO being a bad influence on people’s decision making, maybe this piece of advice will be the exception? As a reminder, all praise for this technique can be sent to [email protected] and all hate mail can be sent to [email protected] Do you want to work with an insurance agent that is well versed in the underwriting of bot...
Ryan’s 10 Rules for Healthy and Wealthy Financial Habits
March 10, 2021 09:00 - 41 minutes - 27.8 MBLast week Jimmy shared his 5 rules for healthy financial habits. Not wanting to be out done, Ryan is up this week sharing his top 10 rules for healthy financial habits. And you better believe that Jimmy is taking every chance to heckle Ryan while he can. Are you tired of dealing with headaches like finding and retaining quality billing staff? Get in contact today with MedEvolve today at www.doctorpodcastnetwork.com/medevolve.
Jimmy's 5 Rules for Healthy and Wealthy Financial Habits
March 03, 2021 09:00 - 38 minutes - 25.8 MBJimmy takes the stage this week to share some of his personal finance rules that he thinks everyone should follow. Don't feel bad for Ryan though, he gets to heckle from the peanut gallery at everything he disagrees with until he shares his rules next week! Do you need help reviewing your employment contract before you sign? Reach out to Resolve at www.doctorpodcastnetwork.com/resolve to get your review process started today.
The Common Financial Mistakes Ryan Made That You Should Avoid
February 24, 2021 09:00 - 36 minutes - 24.7 MBLast week, Jimmy shared one of his biggest financial mistakes. Now. it's only fair that Ryan shares his this week! Though Ryan isn’t a doctor himself (only married to one!), many of his mistakes can relate back to common mistakes doctors make all the time! If you want to avoid making your finances a raging dumpster fire, then you probably will like this episode. Do you need an insurance agent that has your best interest at heart? Then get in touch with Michael Relvas at www.doctorpodcastne...
How to avoid the Voldemort of Disability Insurance
February 17, 2021 09:00 - 41 minutes - 30.1 MBAs much as they don’t like to admit it, Ryan and Jimmy have made some huge financial mistakes. Jimmy will share the financial mistake he made while in med school that he hopes can be a lesson for everyone listening. Learn from Jimmy’s misstep to understand disability insurance and why you need to do your research! If you are looking to reduce your burnout, improve your satisfaction in life, and create a life you love and deserve, learn more about Jimmy's Alpha Coaching Program by going t...
The Good, The Bad, and The Ugly of Real Estate Investing
February 10, 2021 09:00 - 43 minutes - 31.3 MBIt’s hard to resist the sexy, trendy financial investment that everyone wants to get into these days: Real Estate. However, just because it’s popular, doesn’t mean you should go out and buy the first property you see. Explore the highs and lows of real estate investing with Ryan and Jimmy. As a Doctor, you don’t specialize in the intricacies of contracts. If you need a specialist to help you understand and maximize your contract benefits, check out www.doctorpodcastnetwork.com/contractdiag...
Do you really trust advice from a stranger?
February 03, 2021 09:00 - 33 minutes - 29.7 MBFrom crowdsourcing personal finance feedback on social media, to the talking heads on TV giving out "hot stock tips", Ryan and Jimmy caution you to not fall into thinking strangers advice is good advice. There is a reason we keep adding disclaimers to our show: personal finance is personal. Make sure that when you listen to advice online you keep this in mind. Are you tired of spending your evenings catching up on notes and messages instead of using them to connect & recharge? Go to w...
GameStop and Tesla stock FOMO
January 28, 2021 19:08 - 43 minutes - 31 MBHave you heard the news on what’s happening with GameStop, AMC, and Tesla? Tune in to hear all about how Ryan might have lost $30K on the craziness going on RIGHT NOW! Jimmy and Ryan tear into all the latest details on how the hedge funds might have really messed up this time. Fight physician burnout while learning how to build a non-clinical income through a physician-based side gig with the Alpha Coaching Experience led by Jimmy Turner. Learn more by joining the waitlist at www.thephysic...
The 4% safe withdrawal rate was just tossed out the window
January 27, 2021 09:00 - 41 minutes - 38.1 MBWhen it comes to retirement, we all have a tendency to focus on the accumulation of wealth, not on how to make it last. Ryan and Jimmy explore ways to save for retirement AND maintain your standard of living. Finding your safe withdrawal rate can help you save and adjust for a more cushy nest-egg. If you need a smarter and more effective way to monitor staff productivity, let MedEvolve help reduce your cost to collect and get paid on time. Find them at www.doctorpodcastnetwork.com/medevo...
Why hitting home runs isn't the best way to generate wealth!
January 20, 2021 09:00 - 38 minutes - 37.9 MBPeople love talking about the "home runs" they make with their investments. Jimmy and Ryan are here to pull back the curtains on these risky, speculative investments! Instead, you should be focusing on the less "sexy" but safer bets to grow your wealth steadily. Do you want to fully understand your worth and maximize your full potential with your employers? Then let Resolve help you review your employment contract at www.doctorpodcastnetwork.com/resolve and empower your career today.
How to Create a Passive Real Estate Empire - 2 part series
January 13, 2021 09:00 - 36 minutes - 32.7 MBDo you dread the idea of being a landlord but still want to get into real estate investing? Then this show is for you! Ryan and Jimmy go into how you can have the best of both worlds with passive real estate investing in the second of this 2 part series on how to create your real estate empire. Before we go, just a reminder to reach out to John McCarthy and the team at Physician Tax Advisors before you set out to handle your taxes this year. Taxes are complicated enough so leave it to t...
How to Create a Passive Real Estate Empire- 2 part series
January 06, 2021 09:00 - 39 minutes - 32.4 MBInterested in learning more about real estate investing and how you could use it to achieve financial independence? Jimmy and Ryan tackle how to start building your real estate empire both actively and passively in this 2 part series. Learn about diversifying your clinical income, tax benefits and more! Looking for a financial advisor that will help you treat your finances with the same care you treat your patients? Reach out to Ryan, Kayse and the team at Physician Wealth Services by goi...
How to Create an Active Real Estate Empire- 2 part series
January 06, 2021 09:00 - 39 minutes - 32.4 MBInterested in learning more about real estate investing and how you could use it to achieve financial independence? Jimmy and Ryan tackle how to start building your real estate empire both actively and passively in this 2 part series. Learn about diversifying your clinical income, tax benefits and more! Looking for a financial advisor that will help you treat your finances with the same care you treat your patients? Reach out to Ryan, Kayse and the team at Physician Wealth Services by goi...
How to Create an Active Real Estate Empire - 2 part series
January 06, 2021 09:00 - 39 minutes - 32.4 MBInterested in learning more about real estate investing and how you could use it to achieve financial independence? Jimmy and Ryan tackle how to start building your real estate empire both actively and passively in this 2 part series. Learn about diversifying your clinical income, tax benefits and more! Looking for a financial advisor that will help you treat your finances with the same care you treat your patients? Reach out to Ryan, Kayse and the team at Physician Wealth Services by goi...
Springboard Your Finances in the New Year
December 30, 2020 09:00 - 34 minutes - 29.1 MBRyan and Jimmy grinch out a little on financial resolutions, but hey if it gets you motivated, they are here to give you a few ideas for financial resolutions to springboard you into a financially savvy new year! Principal Financial is getting rid of their unisex discount at the end of 2020, so women physicians are looking at an increase in their rates. Pattern Insurance can help! Request your free quote today and save up to 50% here: www.physicianphilosopher.com/patterninsurance.
How to Teach Your Kids About Money
December 23, 2020 09:00 - 41 minutes - 35.9 MBRyan and Jimmy go back and forth on their ideas of how to raise financially savvy kiddos. Get some great tips and tricks from these financially fit dads! Be confident that you have the right policy at the best price possible with Pattern Disability Insurance! Get your quote today www.physicianphilosopher.com/patterninsurance
How to Make a $24k Backdoor Roth Contribution in a Year
December 16, 2020 09:00 - 26 minutes - 23.9 MBAre you ready to get that backdoor Roth contribution in before the end of the year? Starting high level with what is a backdoor Roth all the way to the nitty gritty, Ryan and I are going to go through what the whole process is all about! Principal Financial is getting rid of their unisex discount at the end of 2020, so women physicians are looking at an increase in their rates. Pattern Insurance can help! Request your free quote today and save up to 50% here: www.physicianphilosopher.com/p...
The Biggest Financial Mistakes You Can Make
December 09, 2020 09:00 - 24 minutes - 21.7 MBWe all make mistakes at some point or another, it’s a part of life. However, there are ways to prevent financial mistakes from happening by knowing what to watch out for! In today’s episode we are going to cover the biggest mistakes people make financially and how to correct them. Be confident that you have the right policy at the best price possible with Pattern Disability Insurance! Get your quote today www.physicianphilosopher.com/patterninsurance
We Are in a Pandemic, Do You Have Your Financial House in Order?
December 02, 2020 09:00 - 26 minutes - 24.1 MBWe are in the middle of a pandemic and with many doctors working on the front-lines, it brings up the really important question... Do you have your financial house in order? We are going to cover why you need an estate plan (and no its not just for the wealthy) to help you be prepared for whatever may come your way. Be confident that you have the right policy at the best price possible with Pattern Disability Insurance! Get your quote today www.physicianphilosopher.com/patterninsurance
Why You Should Buy Whole Life Insurance
November 25, 2020 09:00 - 32 minutes - 28.7 MBEver feel like your insurance agent doesn't have your best interest at heart when selling you products? Ryan and I are going to give you the non-conflicted version of the Term vs Whole Life debate. We will cover the upsides and downsides to both types of policies. Have you heard about the Financial Residency medical student scholarship? 10 students in good standing will be getting $5K each from an anonymous foundation that is giving away $50K! Apply here: www.financialresidency.com/schola...
How to Optimize your Health Savings Account
November 18, 2020 09:00 - 27 minutes - 24.6 MBHave you heard of a HSA? Confused as to what they are and how to use them? Well then, keep listening as Jimmy and I get into the ins and outs of Health Savings Accounts: what they are, what they do and what they are not (spoiler alert these are NOT the same thing as a FSA)! We are looking for 10 lucky medical students to win a $5000 scholarship from an anonymous foundation giving away $50k to 10 amazing individuals! Head over to www.financialresidency.com/scholarship to learn more!
How to Build a Non-Clinical Business
November 11, 2020 09:00 - 34 minutes - 30 MBWe talk all the time about achieving financial freedom but have you caught on to the steps for doing that from this show? If you’ve got entrepreneurial bones and you want to achieve a life of your dreams, I’m here to tell you that you absolutely freaking can. Both Ryan and I dig in deep on how to build a business that might not be medically related at all. Keeping up with the blog? Go to www.thephysicianphilosopher.com for more fun shows with the flip flop guy and me.
How to Get Rich Quick
November 04, 2020 09:00 - 38 minutes - 33 MBDelayed gratification, saving vs. spending, spending over saving… all of that happens to impact how you become rich. Or does it? Tune in as Ryan and I discuss why curbing your spending on these “big 5” will help or hurt your chances of becoming a bagillionaire. Take control of your financial future, find The Physician Philosopher online: www.thephysicianphilosopher.com
5 Scary Things About Money
October 28, 2020 08:00 - 37 minutes - 33.6 MBWith Halloween around the corner, let’s think about the scary side of money, shall we? We’ve all made them… bad money decisions. But, “how bad does it get” is the question of the moment. In this episode, Ryan and I talk about the experiences he’s seen his clients go through, debt and all. The Alpha Coaching Experience is going on sale. Right Now. And it closes on 11/2 at midnight. Sign up here: www.financialresidency.com/tppwebinar
You Probably Built Your Investment Policy Statement Incorrectly
October 21, 2020 08:00 - 33 minutes - 30.7 MBGeneral investment philosophies, anticipated contributions, distribution breakdown… what the heck? If you’re an investor, or in this case, a potential investor ‘cause Ryan and I break down the fundamentals, an INVESTMENT Policy Statement is super important to do correctly. However, not many are building it the right way. Figure out what you could potentially do wrong in this fun, educational-in-nature episode. The Alpha Group Coaching Experience is going on sale on 10/24 but as part of the...
10 Financial Milestones Worth Celebrating
October 14, 2020 08:00 - 32 minutes - 27.3 MBWe all have wins. Whether you celebrate them or not [like Jimmy’s bad golf swing] it’s worth acknowledging you’ve reached certain milestones. This show is all about celebrations. Ryan and I share 10 of our personal stories that have helped us reach higher levels of financial success. Join the my Alpha Coaching Experience to reduce your burnout and find the balance you deserve: https://www.financialresidency.com/tpp
Pandemic Proof Your Finances
October 07, 2020 08:00 - 36 minutes - 30.8 MBWe get it. Unless you’re a psychology or philosophy major, behavioral finance isn’t going to be a sexy topic for you. But the truth is, understanding how you behave with your money is the only thing standing in your way from having a strong, successful relationship with it. Ryan and I talk about this and why educating yo’self makes you da real MVP. Buy our books: Ryan’s - www.financialresidency.com/book Jimmy’s - www.thephysicianphilosopher.com/book
Why It’s OK To Live Like An Attending
September 30, 2020 08:00 - 24 minutes - 21.9 MBFinally realizing your financial literacy woes? Reading the finance books, blogs and listening to the right podcasts? It feels good to get on the right track for a while, but at some point, you start scrutinizing every dollar you spend. Have you entered the “live like a resident” echo chamber? Let us show you the way out.
Ways to Take Out Money at Age 59.5
September 23, 2020 08:00 - 41 minutes - 35.9 MBHave you ever heard that if you invest in a 401K or 403B that you can’t touch that money without a penalty until age 59.5? Did you also know that’s not true? Stick around to hear about the tips and tricks to avoid getting penalized by the 59.5 rule.
Pearls on How to Manage Your Student Loans
September 16, 2020 08:00 - 35 minutes - 30.2 MBTrump signed an executive order on August 8 continuing the temporary cessation of payments and the waiver of all interest on student loans held by the Department of Education until December 31, 2020. How does this affect the way you manage your student loans? Stick around to find out. Practice Medicine Because You Want To...Not Because You Have To… Use link to access Medical Degree to Financially Free: https://financialresidency.com/MDFree
How to Talk About Money With Friends and Family
September 09, 2020 08:00 - 36 minutes - 32.8 MBHow do you bring up the topic of finances with friends and colleagues in a non-threatening way? I've had limited success in getting them to engage in the conversation or take further action on their finances. I realize that the drive to change your own financial habits (or any habit) has to come from the individual. What tips do you have to get this type of conversation going? Need an awesome resource to help you finally find the home of your dreams? Neil Surgenor with TD Bank, NA, wants t...
Charitable Giving: Pre-tax, post-tax, or not at all?
September 02, 2020 08:00 - 39 minutes - 32 MBGet your biggest bang for your buck during tax time? It happens and can happen for you. See what Ryan and I say to help you give while also getting back. It seems like everyone is looking to buy a home right now. If that's you, give Neil Surgenor with TD Bank, NA, a shout. He's working on your time. Find him at www.financialresidency.com/tdbank
10 Things You Must Do for Financial Success
August 26, 2020 08:00 - 44 minutes - 35 MBRemember those cheat sheets you’d use to summarize all of the facts before your medical school tests? Or maybe you were a flip card or Anki kind of person? Well, that’s what this show is all about. Tag along as we discuss 10 things doctors must do for financial success. Need disability insurance? We mentioned Larry in the show. Find Larry Keller of Physician Financial Services at thephysicianphilosopher.com/pfs
Should You be Investing in Real Estate or Build a Portfolio in Stocks?
August 05, 2020 08:00 - 36 minutes - 30.7 MBAddressing the pros and cons of real estate vs. stock investing, Ryan and I help you navigate which of the two might make the most sense in the general sense. Since Ryan comes from a line of a real estate moguls, you don't want to miss his insight. This episode is brought to you by Ryan's fee-only financial planning firm, Physician Wealth Services. Need a community to rally around you as you build your own unique financial plan join his Financial Fellowship paid membership community? Learn...
Should you be Investing in Real Estate or Build a Portfolio in Stocks?
August 05, 2020 08:00 - 36 minutes - 30.7 MBAddressing the pros and cons of real estate vs. stock investing, Ryan and I help you navigate which of the two might make the most sense in the general sense. Since Ryan comes from a line of a real estate moguls, you don't want to miss his insight. This episode is brought to you by Ryan's fee-only financial planning firm, Physician Wealth Services. Need a community to rally around you as you build your own unique financial plan join his Financial Fellowship paid membership community? Learn...
Everyone Has a Plan Until They Get Punched in the Mouth
July 29, 2020 08:00 - 30 minutes - 26 MBShould I invest or pay off my debt? It is one of the most common questions any personal finance blogger or pod caster gets. Does the answer change if the market goes into a recession? That’s what we discuss in this episode. Stick around to find out. This episode's sponsor is Larry Keller with Physician Financial Services. Need an expert to help you decide on insurance? Larry's your guy. Check him out at thephysicianphilosopher.com/pfs
The Top 5 Riders for Disability Insurance
July 22, 2020 08:00 - 29 minutes - 25.5 MBDisability insurance comes with different riders to enhance the contract. Ryan and I address what those riders do for you and also touch on some contract features that may not be riders but do vary from company to company. Check out the show to see what you need to keep in mind as you compare policies. Need disability insurance? Michael Relvas at MR Insurance Consultants is ready to get you started. Find him at http://thephysicianphilosopher.com/mrinsurance
YOLO Versus Saving for Tomorrow
July 15, 2020 08:00 - 28 minutes - 25.3 MBDo you have trouble choosing between spending for today and saving for tomorrow? You’re not the only one. This episode will help you find the balance. Looking for disability insurance? Give Michael Relvas with MR Insurance Consultants a call. He'll be happy to help lead the way to the right policy for you! https://thephysicianphilosopher.com/mrinsurance
Strategies for Handling Market Corrections
July 08, 2020 08:00 - 30 minutes - 27 MBCorrections in the stock market are healthy. Given that a correction happens once every 1.5 years… it is probably worth talking about what we should do about it when it happens. Does your insurance need a course correction? Reach out to someone we trust to help you protect your hard earned income. Find Michael at https://thephysicianphilosopher.com/mrinsurance
The 457 Plan. A Secret FIRE Weapon?
July 01, 2020 08:00 - 22 minutes - 19.5 MBMany physicians have the option to invest in 457 plans. However, these are some of the most curious (and potentially dangerous) investment plans that exist. If you don’t know what you are doing, there is a good chance you make a bad decision. Love Money Meets Medicine? Tell the wooorld! Nominate the show for a Plutus Award here: www.thephysicianphilosopher.com/nominate Need a fee only fiduciary in your corner to help you make better financial choices? Ryan's firm, Physician Wealth Ser...
Good Help Ain't Cheap When It Comes to Financial Planners
June 24, 2020 08:00 - 42 minutes - 35.6 MBIt’s no secret that doctors aren’t the best with their finances. I’d even argue that they’re the smartest people on the planet, but when it comes to their finances, it’s almost comical how much we don’t know. Ryan and I discuss how much you should consider paying for help to build your financial plan, particularly those in the fee only financial planning space. Need a little help with managing your finances better than you have been? Let Ryan and his team at Physician Wealth Services help ...
The 2 Paths to Financial Independence
June 17, 2020 08:00 - 36 minutes - 31.6 MBYou may have noticed that there is a great debate in the personal finance world... Index Fund Investing versus passive income. Which one is best? Stick around to find out. Need a home loan? Let us help you find the right person to help! We know, like, and trust Doug Crouse. Connect with him here: www.dougcrouse.com (816)728-3631 and [email protected]
For Better or Worse: Getting on the Same Financial Page
June 10, 2020 08:00 - 29 minutes - 28.4 MBIt's not an untold secret that spouses and partners are often on divisive ends of their finances. Ryan and I take a few min to talk through how to strengthen that bond so you both can get on the same financial page. Get on the right track with your finances in and out of residency. Join my course (which ends 6/10!) to learn how to better manage your money: www.financialresidency.com/mdfree
Lions & Tigers & Emergency Funds - Oh my!
June 03, 2020 08:00 - 25 minutes - 23.7 MBRyan and I could tell physicians all day long how important it is to have an emergency fund. But seems like our recent experience of COVID-19 has already demonstrated the real life impact of not having one. Will you get caught without an emergency fund? Let's hope not! Medical Degree to Financially Free is an online course built to teach doctors how to create cash flow, invest efficiently, and obtain financial freedom. Join the course: www.financialresidency.com/mdfree
Why Cash Flow is King, Queen, and Jester
May 27, 2020 08:00 - 31 minutes - 29.2 MBIf you want to reach financial freedom, quicker, better, smarter, then join Jimmy's course, Medical Degree to Financially Free. It's a 5-week curriculum (not too drab) created for doctors who want support in becoming financially free. Get looped in here: https://financialresidency.com/MDFree
Pre-Tax or Roth, Which Is Better?
May 20, 2020 08:00 - 39 minutes - 42.5 MBThe key differences in pre-tax or Roth accounts for doctors aren't what you would normally hear. Ryan and I talk about what's important for you to know. Need an expert in physician home loans? Doug Crouse is one of our go to guys. Find him at http://www.financialresidency.com/dc
Craft a "HELL YES" Policy With First Saying No
May 13, 2020 08:00 - 29 minutes - 27.2 MBDuring medical school, I've seen our colleagues too often identify with being a doctor as their entire persona. So, when things get rough, stressful, or doesn't go as planned, they tend to find themselves in a crisis. It's important to see the parts of ourselves independently from medicine... I think that starts first starts with a HELL YES! policy. Ryan and I talk about it more. Doug Crouse is a trusted mortgage lender that has helped hundreds of physicians qualify for their first ho...
Is a Doctor Home Loan Right For You?
May 06, 2020 08:00 - 40 minutes - 36.6 MBHave you ever thought about buying a home? If you don’t know the difference between a physician home loan, conventional loan, PMI, or what any of this mortgage jargon means and why it matters… listen to this. Purchasing a home is one of the largest financial decisions your family makes. That’s why we have someone like Doug Crouse in our corner to help our audience navigate through the physician home loan process. See what he can do for you: www.financialresidency.com/dc
Bonds… James Bonds Turner
April 29, 2020 08:00 - 33 minutes - 30.7 MBIf you haven’t guessed… today’s show is about bonds. Well, kind of. It is really about whether you need bonds in your portfolio and we also discuss other surrogates you might consider using in your portfolio instead of bonds. Kaplan Financial is the place to go for objective and experienced financial advice, discounted rates on individual disability insurance, and a long-term commitment of superior service. Check them out to see how they can help you: https://thephysicianphilosopher.com/...