PA the FI Way
140 episodes - English - Latest episode: about 2 months ago - ★★★★★ - 24 ratingsBecoming a physician assistant (PA) is difficult. But becoming a PA on the way to financial independence (FI) shouldn’t be. Allow the PA the FI Way podcast to be your guide to becoming a physician assistant on the way to financial independence.
Unfortunately, even basic personal finance and budget concepts are rarely taught in high school, college or PA school. Then once PA students become certified physician assistants and begin their professional journey practicing medicine, they typically have a heap of student loans just waiting to be paid back. Let’s not only discuss how to prevent large student loan amounts, but also how to pay them back quickly. Let’s discuss how practicing PAs can learn to save and invest for their futures. PA the FI Way’s mission is to provide both future and current PAs alike strategies to not only become financially literate, but to also reach financial independence along the way. Think of it as personal finance for PAs with a financial independence twist. Financial independence provides the freedom to find balance in work and personal life.
FI is about creating the life you want to live, choosing when to retire (IF you want to retire early), choosing when to cut back on working, or choosing when to work on another passion in your life. The decision truly is yours, and I hope you decide to join me on the journey to becoming a PA the FI Way.
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Episodes
039 | The Advantages and Disadvantages of Having a 4 Day Workweek as a PA
October 29, 2021 06:00 - 19 minutes - 14.3 MBWorking 4 days per week instead of 5 days as a PA has many advantages, but there are a few disadvantages as well. However, the benefits seem to fit with many financial independence ideals, so it is something worth considering and exploring as an option for your career! Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group created for current and future PAs on their journey to financial independence: https://www.facebook.c...
038 | Pre-PA Clinic: Interview with Founders Katie Bean, DMS, PA-C and Beth Macintire, DMS, PA-C
October 22, 2021 06:00 - 40 minutes - 28.6 MBAre you a Pre-PA student looking for guidance as how you can stand out as an applicant while applying to PA school? Or are you a PA student that is looking for extra support while in PA school? Take a listen to meet Katie and Beth, who are two incredibly fun and motivating mentors for Pre-PAs and PA students. They offer several types of services to help you out throughout your journey as you become a PA. We also discuss our passions for travel, mission trips, and of course, financia...
037 | The PA Blueprint: Interview with Authors Shayne Foley, PA-C and Jordan Fisher, PA-C
October 15, 2021 06:00 - 44 minutes - 30.9 MBHave you felt as though you need some career guidance as a PA, or need help fighting burnout? Shayne and Jordan join us in this really fun interview to discuss The PA Blueprint: Your guide to career advancement, getting rich, avoiding burnout, and finding your dream job. Visit the website to get your copy of The PA Blueprint, and use special code pathefiway25 for 25% off your purchase! https://www.thepablueprint.com Instagram: https://www.instagram.com/thepablueprint/ Other R...
036 | FIlightER's Triple 7: Financial Wins, Financial Mistakes, and Pieces of Advice for Millennials from an Early Retiree, Part 2
October 08, 2021 06:00 - 1 hour - 46.2 MBPaul "Lambo" the FIlightER, Creator of the FIlightER Podcast and Blog, joins us as the first guest who is an early retiree that has achieved FIRE! He used to work as a CPA, so he provides excellent insight from that background throughout the episode. He shares his Triple 7: 7 financial wins, 7 financial mistakes, and 7 pieces of advice for millennials. However, since he is so full of wisdom and stories, this episode is Part 2 of 2, and it covers the 7 financial mistakes and 7 pieces...
035 | FIlightER's Triple 7: Financial Wins, Financial Mistakes, and Pieces of Advice for Millennials from an Early Retiree, Part 1
October 01, 2021 06:00 - 55 minutes - 38.6 MBPaul "Lambo" the FIlightER, Creator of the FIlightER Podcast and Blog, joins us as the first guest who is an early retiree that has achieved FIRE! He used to work as a CPA, so he provides excellent insight from that background throughout the episode. He shares his Triple 7: 7 financial wins, 7 financial mistakes, and 7 pieces of advice for millennials. However, since he is so full of wisdom and stories, this episode is Part 1 of 2, and it covers the 7 financial wins that he would li...
034 | Interview with Savanna Perry, PA-C, Founder of The PA Platform and Host of The Pre-PA Club Podcast
September 24, 2021 06:00 - 36 minutes - 25.4 MBHave you considered starting a business or authoring a book as a side hustle on your way to financial independence? Or are you a pre-PA student looking for tips to get into PA school and succeeding once you do? Our guest, Savanna Perry, PA-C, is not only an awesome dermatology physician assistant, but she is also a business owner of The PA Platform, podcast host of The Pre-PA Club, and author of Physician Assistant School Personal Statement Guide and Physician Assistant School Int...
033 | How Pursuing Financial Independence Can Help Fight Physician Assistant Burnout
September 17, 2021 06:00 - 27 minutes - 19.3 MBBurnout is a syndrome that many healthcare workers have experienced, especially during the COVID pandemic. PAs are no exception, and around 50% of PAs will experience burnout at some point during their working careers. This episode reviews what burnout is, the costs and risks of burnout, the contributing factors, burnout symptoms, and what you can do to try to fight burnout as a PA. Additionally, we will review how being a physician assistant on the way to financial independence ...
032 | Mega Backdoor Roth
September 10, 2021 06:00 - 17 minutes - 12.6 MBThe Mega Backdoor Roth is a strategy that may allow you to save more money into your Roth account for the year after maxing out your 401K, allowing for tax-free growth and tax-free future withdrawals. However, it is somewhat rare that employers and 401K administrators allow this strategy. Learn the questions to ask to find out if you're eligible, and the process of utilizing the Mega Backdoor Roth strategy as a physician assistant. Follow along on Instagram: @pathefiway htt...
031 | PA Student Loan Debt and Mortgage Paid Off! Ft. Kristin Burton, PA-C, Founder of Strive Coaching
September 03, 2021 06:00 - 22 minutes - 16.3 MBJoin us as Kristin Burton, MPAS, PA-C, CAQ-HM, shares her amazing debt payoff story. After PA school, she paid off over $161,000 over the course of 16 months! After her student loan debt was paid off, she and her husband decided to pay off their mortgage before she even turned 30yo. Amazing! Kristin is a critical care PA (physician assistant) on the way to FI (financial independence), and she founded Strive Coaching to try to help other PAs and healthcare professionals reach fina...
030 | PA Student on the Way to Financial Independence! Ft. Alex Adkins, PA-S
August 27, 2021 06:00 - 22 minutes - 16 MBAre you a physician assistant student and feel as though you can just wait until after PA school to focus on your finances? Well, you certainly could, but there are so many financial areas that you can focus on right now while you're in PA school. Alex Adkins, PA-S, shares how he knew about the concept of FI even before PA school started, which has helped him make some wise financial decisions. Once he starts practicing as a PA-C, he will be set up for success due to the habits that...
029 | Inflation: Is It Really Something to Worry About?
August 20, 2021 06:00 - 12 minutes - 8.9 MBInflation has been a common topic in the news the past several months. But do you know what inflation is, why it happens, and why it can be a problem? Finally, do you know what steps you can take to hedge against inflation? Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group created for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway Like the F...
028 | What's the Deal with Cryptocurrency?
August 13, 2021 06:00 - 18 minutes - 13.1 MBYou've heard from those who invest in cryptocurrency say that their investments are going to the moon, and you have serious FOMO. Should you join the crypto craze? As with many things in finance, the answer is maybe, as it's a bit complicated... There are some benefits to consider with crypto, as well as some cons to consider. If you're a PA student, consider applying to the White Coat Investor scholarship: https://www.whitecoatinvestor.com/medical-school-scholarship/ ...
027 | Budgeting Methods and Sinking Funds
August 06, 2021 06:00 - 18 minutes - 13.3 MBFour different types of budgeting methods are reviewed (pay yourself first method, envelope method, 50/30/20 budget, and zero-based budget). These types of budgeting systems can provide you a framework to save money to invest for your future as a physician assistant, PA student, or pre-PA. You may find that one works better for you than others at various points in your life. Sinking funds can be used as part of your budgeting system to help you pay for upcoming known expenses. ...
026 | Market Timing and Opportunity Cost
July 29, 2021 06:00 - 13 minutes - 9.76 MBShould you try to time the market in hopes of buying high and selling low? Or should you try to switch your money around between asset classes in hopes that one will do better because you heard it's the latest craze? If you can't time travel to have the benefit of hindsight or don't have a crystal ball, then the answer is likely no. As a current or future physician assistant, you're likely pretty bright, but did you know that most financial professionals can't time the market well e...
025 | Dividends and Diversification
July 22, 2021 06:00 - 13 minutes - 9.29 MBThe topics of dividends and diversification are discussed in today's episode. Some investments pay out dividends, which can be another way for your investments to earn more over time. However, this doesn't necessarily mean that you should be chasing stocks with only high dividend yields. Diversification in your portfolio may help provide less risk over time, and can help make your wealth building over time to be less bumpy. Follow along on Instagram: @pathefiway https:/...
024 | How to Use 4 Types of Accounts to Invest for Your Child’s Future (HYSA, 529 Plan, UGMA / UTMA, and Custodial Roth IRA)
July 15, 2021 06:00 - 33 minutes - 23.8 MBCompound interest, which has been dubbed the 8th wonder of the world by Albert Einstein, needs time to grow its magical gains. Which group of people likely has the most time in the world to benefit from the effects of compound interest? Children, of course! Once you start becoming financially literate, you may likely start thinking about the kiddos in your life, whether they be your own children, nieces or nephews, or even grandchildren, and think, “If only they could start investin...
023 | How to Automate Your Finances to Set You up for Success
July 08, 2021 06:00 - 24 minutes - 17.3 MBWhen it comes to saving, investing, paying off debt, and building wealth on your way to financial independence as a physician assistant, automation may be key to setting you up for success so you can reach your goals sooner. Automation may help you save your time, your money, and your sanity! Personal Capital link: https://pcap.rocks/katarinaastr Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group created ...
022 | How to Utilize Travel Rewards for Free Travel
July 01, 2021 06:00 - 32 minutes - 22.6 MBIs traveling to new places domestically and internationally one of your favorite hobbies? Do you have family that lives far away from you? Do you enjoy CME conferences, but don't have a generous enough CME budget to fully cover your flight and / or hotel cost? Then travel hacking by earning travel rewards points likely is for you! This episode introduces the concept of travel rewards, as well as reviews some of my favorite travel rewards credit cards. If you're interested in ge...
021 | Interview with Justin Chidester, CFP, AFC, Founder of Wealth Mode Financial Planning
June 24, 2021 06:00 - 48 minutes - 33.9 MBJustin Chidester, CFP, AFC, founder of Wealth Mode Financial Planning reviews with us the benefits of working with a fee-only fiduciary financial planner. He also covers some red flags to watch out for when considering whether you should work with a financial advisor. I share my story of how my husband and I worked with another type of "financial advisor" for several years, until we figured out that we should FIRE him once we decided to pursue FI (pun intended). Justin can help cu...
020 | Social Security for PAs Pursuing Financial Independence
June 17, 2021 06:00 - 15 minutes - 10.9 MBIn this episode, we will review what Social Security is, and will consider if it will even be around by the time that we reach traditional retirement age. Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group created for current and future physician assistants on their journey to financial independence: https://www.facebook.com/groups/pathefiway Like the Facebook page to follow along for updates: https://www.f...
019 | Invest in Your Health on Your Journey to Financial Independence as a PA
June 10, 2021 06:00 - 27 minutes - 19.2 MBAs you invest to build wealth on your journey to financial independence (FI) as a PA, it's important to also invest in your health. "Health" is not only comprised of your physical health, but rather, several types of health need to be optimized to truly help your overall health. Don't neglect your health on your journey to FI, or you may end up being too depressed or too physically unhealthy to even enjoy early retirement if you decide to retire early once you reach FI! Mad Fient...
018 | Your Credit Score: What Is It, Why Is It Important, and How to Boost It?
June 03, 2021 06:00 - 12 minutes - 8.38 MBHaving a great credit score can help you in several ways financially. In this episode, we will review what your credit score actually is, why it is important, and how you can boost your credit score if you need to. Read blog posts and sign up for email list: pathefiway.com Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group only for current and future PAs on their journey to financial independence: https://www.faceboo...
017 | Homeownership Versus Renting for PAs
May 27, 2021 06:00 - 31 minutes - 22.2 MBAh, the great debate: should you rent a place or purchase a home? As with many topics in personal finance, it depends. In this episode, some myths surrounding renting and buying are dispelled, and some pros and cons to both homeownership and renting are reviewed. Referenced article by J.L. Collins: https://jlcollinsnh.com/2013/05/29/why-your-house-is-a-terrible-investment/
016 | PA Next Steps: Interview with Author, Jordan Fisher, PA-C
May 20, 2021 06:00 - 28 minutes - 20.1 MBJordan Fisher, PA-C, joins me on the podcast as our very first guest! He's the author of PA Next Steps, which is a step-by-step guide for the new physician assistant for what to do after PA school. This book will provide you with all of the information and tools you need to start practicing, find a job you love, and excel in your personal, professional, and financial life. Purchase your copy of the eBook, PA Next Steps here: www.panextsteps.com Use code pathefiway at checkout f...
015 | The Associated Financial Costs of Practicing as a Physician Assistant
May 13, 2021 06:00 - 19 minutes - 14 MBDid you know that practicing as a PA actually costs you money? Let's review profession specific costs as well as general costs to working as a physician assistant. These costs can vary, and many can be negotiated to have your employer help out with some of the costs! Website to read blog posts: pathefiway.com Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Join the private Facebook group only for current and future PAs on their journey to fin...
014 | Ensure That You're Insured (A Brief Overview of Disability Insurance, Life Insurance, and Umbrella Insurance)
May 06, 2021 06:00 - 24 minutes - 17.2 MBAs a physician assistant, you are likely very familiar with common types of insurances such as medical insurance, home and auto insurance, and malpractice insurance. But did you know that you should be assessing your situation to determine whether or not you should also be getting disability insurance, life insurance, and even umbrella insurance? For some, these types of insurances that are discussed in this episode can be just as critical to have as the other types of common insura...
013 | Part 2 - Investing Strategies for the Physician Assistant (401k Retirement Accounts, Roth IRAs, Roth Conversion Ladders, Backdoor Roth IRAs, and Beyond!)
April 29, 2021 06:00 - 31 minutes - 21.9 MBThis is Part 2 in reviewing the basics of investing and retirement accounts for PAs, as well as the order of operations for starting to invest to build your wealth. This episode continues to review retirement accounts such as 401(k)s, 403(b)s, 457(b)s, etc., as well as Roth IRAs. Additionally, the tools called Roth Conversion Ladder and Backdoor Roth IRAs are reviewed, which can help you in your journey to financial independence as a physician assistant! Website with blog posts: ...
012 | Part 1 - Investing Strategies for the Physician Assistant (Investing vs. Only Saving, Index Funds 101, and the Power of HSAs!)
April 22, 2021 06:00 - 51 minutes - 35.7 MBThis is Part 1 in reviewing the basics of investing and retirement accounts for PAs, and the beginning of reviewing the order of operations for starting to invest to build your wealth. Investing can seem overwhelming and scary to start with, but it's so important that you understand that you need to get your money invested, not just sitting around in a savings account, so that it can earn more money for you. The basics of investing in low-cost broad-based index funds are reviewe...
011 | Emergency Funds, Debt Payback Strategies, and Should You Invest or Pay Back Debt?
April 15, 2021 06:00 - 28 minutes - 19.4 MBRead about emergency funds, debt payback strategies, and investing vs. paying back debt here: https://www.pathefiway.com/blog/emergency-funds-debt-payback-strategies-and-should-you-invest-or-pay-back-debt Are you just beginning your journey to financial independence and want to learn more? Download your FREE copy of the PA the FI Way Beginner’s Workbook here! Website / Blog: pathefiway.com - View website to learn more about financial independence and to learn how we can w...
010 | What is Your Money Story? (And How You Can Rewrite a New Money Story by Changing Your Money Mindset)
April 08, 2021 06:00 - 17 minutes - 12.7 MBHave you ever thought of why you think a certain way about financial topics, and others in your life may have a completely opposite point of view? Why is it easy for some people to save since childhood, while others have a hard time with saving? In this episode, the concept of your Money Story will be discussed, as well as how you can shift from having a Scarcity Mindset to an Abundance Mindset so that you can rewrite your future Money Story! Website / Blog: pathefiway.com - V...
009 | An Overview of Various Physician Assistant Compensation Models
April 01, 2021 06:00 - 28 minutes - 20.4 MBDid you know that as a PA, there are several different ways that you can be compensated? Your income may not be as clearcut as getting paid via hourly pay or via a salary. In this episode, the various compensation models that physician assistants can get paid will be reviewed as well as some of the pros and cons of each, so that you can have an understanding of these options when you are interviewing for PA jobs as a new grad or throughout your PA career! This episode will review ...
008 | Tax Tips and Tidbits for PAs
March 25, 2021 06:00 - 20 minutes - 14.7 MBVarious tax tips to consider for physician assistants are reviewed, which include possibly being able to deduct student loan interest, investing in tax-deferred and tax-exempt accounts, donating to charity, homeownership, and why you should not necessarily be looking forward to a tax refund, as well as why you should NOT try to avoid earning more to try to pay less in taxes. Website / Blog: pathefiway.com - View website to learn more about financial independence and to learn how w...
007 | PA Student Loan Strategies to Consider
March 18, 2021 06:00 - 20 minutes - 15 MBStrategies to tackle your probable six-figure plus PA student loan debt amount are reviewed in this episode. Trying to pay off your student loans aggressively will help set you up for success and allow you to reach financial independence sooner! Some topics that are covered include the following: prevent lifestyle creep, increase your income, consider PSLF, consider IDR plans, and consider refinancing your student loans, as well as refinancing them again. Website / Blog: pathefiwa...
006 | PA-S the FI Way: How to Be a PA Student with a Financial Independence Mindset
March 11, 2021 07:00 - 14 minutes - 10.7 MBIf you're a PA student, congrats on getting accepted into a PA program!!! The next 2 - 3 years will be some of the hardest of your life, but very rewarding. During PA school, it can be very tempting to spend some of your student loans on somewhat frivolous things to "treat yo' self" with the idea that you're just borrowing from your future self. But newsflash: your monthly student loan payments may be about as much as a monthly mortgage payment! So use the information in this episod...
005 | Pre-PA the FI Way: How to Be a Pre-PA High School or College Student With a Financial Independence Mindset
March 04, 2021 07:00 - 24 minutes - 17.2 MBIf you're a Pre-PA student, you’ve thoroughly researched many career options, and decided that becoming a PA was the decision for you. The U.S. Bureau of Labor Statistics projects that the growth rate for physician assistant employment will be 31% from 2018 - 2028! Congrats on choosing to pursue an awesome career! Now the hard work begins. You are likely already feeling the pressure to ace every class in high school. You are likely also considering how to do that in undergrad as wel...
004 | 5 Steps to Calculating and Tracking Your Net Worth (And Why It Matters)
February 25, 2021 07:00 - 13 minutes - 9.92 MBTake the time to figure out your net worth by calculating your assets and liabilities so you know where you're starting from on your journey to FI. However, even if your net worth is currently a negative number, don't worry! Use it as motivation to get that number back into the black. Once you've calculated your net worth, decide how you're going to start tracking your net worth over time. It is very encouraging and fun to see this number increase steadily! I recommend and use the...
003 | Why PA? (Why the PA Profession is Awesome!)
February 18, 2021 07:00 - 27 minutes - 19.6 MBIn this episode, I'll review why I chose to become a PA, and why I’m passionate about the PA profession. PAs were just named the #1 overall best job, #1 STEM job, and the #1 best health care job by US News! Although the PA profession is awesome, you should thoughtfully consider other careers as well before deciding that becoming a PA is the best choice for you. Try to shadow as many different types of professionals and PAs as you can! Learn about some differences between PAs and...
001 | Welcome to PA the FI Way: A Brief Overview of the PA Profession and the Concept of FI
February 11, 2021 07:00 - 20 minutes - 14.5 MBWelcome to the PA the FI Way podcast! I'm so excited for you to join me! I'm your host, Kat, and I'm a PA-C. During this episode, I give a brief overview of the PA profession, as well as FI (financial independence), and why I think this is an important personal finance topic for PAs to learn about and to consider implementing in their lives. My target audience includes current PAs and future PAs, including PA-S and pre-PA students, as well as high school students considering the P...
002 | Find Your Why of FI: How to Cut Costs, but Keep What You Value in Life
February 11, 2021 07:00 - 26 minutes - 18.8 MBIt's important to consider your "why" of wanting to pursue FI (financial independence), or you may get discouraged along the way. The first couple of steps in your FI journey are to track your expenses and calculate your net worth to see where you're starting from. Don't be discouraged if your net worth is a negative number! After reviewing your expenses, ask yourself, "Do I value the fluff?" Next, figure out ways to cut costs, so you can save more to invest more by using various ...
PA the FI Way Trailer
January 17, 2021 02:44 - 2 minutes - 1.69 MBRead blog posts: pathefiway.com Are you just beginning your journey to financial independence and don't know where to start? Download your FREE copy of the PA the FI Way Beginner’s Workbook here! Enjoy the show? You can now support the PA the FI Way podcast through Buy Me a Coffee! Thank you for all of your support! https://www.buymeacoffee.com/pathefiway Prefer to pin the posts that you found informative? Follow along on Pinterest: https://www.pinterest.com/pathefiway Follow a...