Money Meets Medicine with Dr Jimmy Turner and Dr Lisha Taylor
Money Meets Medicine with Dr Jimmy Turner and Dr Lisha Taylor
The Physician Philosopher, LLC
On Money Meets Medicine, Dr. Jimmy Turner and Dr. Lisha Taylor combine their experience to teach you about the personal finance topics you wish you had learned in medical school. The MMM podcast will help you tackle your student loans, achieve financial independence, invest for retirement, and decrease your financial stress and burnout. Want to learn more? Check out what’s coming soon at Attend by visiting http://www.helloattend.com On Money Meets Medicine, Dr. Jimmy Turner and Dr. Lisha Taylor combine their experience to teach you about the personal finance topics you wish you had learned in medical school. The MMM podcast will help you tackle your student loans, achieve financial independence, invest for retirement, and decrease your financial stress and burnout. Want to learn more? Check out what’s coming soon at Attend by visiting http://www.helloattend.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. Dr.Taylor is a sports medicine fellow and prior graduate of the Family Medicine residency at Emory whose superpower is all things student loans. She is the Director of Content Strategy and Business Development at Attend.
Do Bonds Belong in Your Portfolio?
Did you know that as interest rates rise, the value of bonds falls? Should you even care about that? Are bonds a good investment for doctors?  In this episode, we’re tackling these questions and discussing the purpose of bonds in a doctor's portfolio, as well as the nuance of our current high interest environment. Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com 
Jun 6
36 min
Pre-Tax versus Roth Investments
Maybe you're starting your intern year and you're considering investing as one of your steps in that journey. As July approaches, maybe you’re transitioning as a trainee from an institution or to a new job, you might be asking yourself, “Should I be investing in pre-tax vs Roth?”  It’s a really interesting topic and an important question, especially as interest rates and inflation changes.  When someone slides that 401k or that 403b form in front of you, it often gives you the option to choose whether you want to invest in a traditional pre-tax method where the money is taken out of your paycheck before it ever gets taxed. Or do you want it to get taxed immediately, and then get invested knowing that it'll never get taxed again in the future?  As it's been a couple of years since we tackled pre-tax versus Roth on this show, that’s what we’re diving into in this episode. We'll help you figure out the answers to these questions, or at least help you to make a more informed decision.  Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com
May 30
35 min
How to Save More Money
If you’ve ever needed to save up for a wedding, a car, or a home, yet you weren't quite sure about the best way to do it, this episode is for you. There are lots of reasons why you might be thinking about setting up short-term savings (savings you intend to need within 3-5 years).  But figuring out how to save money can be easier said than done. With so many options for investments and money management, how do you know the best place to start? And how can you be sure you’ll reach your savings goal by the time you’ll need the money? Let’s go over the 4 qualities your short-term savings methods should have, as well as ways to save money that feel simple and aligned with your personal finance goals.  Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com
May 23
37 min
The Diminishing Return of Working More
It often pays to work smarter, not harder, yet many doctors put in more and more hours to make more money in medicine. But is working more always a good idea? I think there are pros and cons to working more shifts in medicine. Personal finance is personal, and you have to assess whether you feel you’re being compensated fairly for the time and energy you put into your work.  If you’re not, you might be working for diminishing returns. Yes, you have expenses to cover, but remember the importance of work life balance, especially as it pertains to physician burnout. Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com 
May 16
39 min
High-Interest Environment: Invest or Pay Off Debt?
With inflation and interest rates being what they are, one of the most common questions that we get nowadays is, “Should I invest or pay off debt? What should I be doing with my money?” Everywhere in medicine, inflation has an impact. One of the common areas where this naturally happens a lot is in regards to reimbursement rates and income. Doctors realize, “Hey, I haven't gotten a substantial raise in five or ten years, maybe more. And yet, inflation in 2022 is 6-9%.” So when we face these unprecedented rates of inflation, it makes sense to ask, “Should I invest or pay off debt?” Let’s dive in by covering specific financial tasks that doctors need to take into consideration. Looking for a comprehensive financial platform for doctors, by doctors that will help you to secure your financial future?  Make sure to check out HelloAttend.com
May 9
40 min
Money Mistakes We Made in 2022
Even though we’re self-proclaimed money nerds, it doesn't mean we don't make mistakes.  Physician finance isn’t your run-of-the-mill financial strategy. We have certain exceptions and special circumstances to watch out for. And sometimes even the most seasoned pro can make money mistakes. We’re still human, after all. So let’s normalize the idea that we’ll run into snags and learn new lessons as we work to figure out our personal finance goals. Tune in as Alicia and I share all the gory details of the financial mistakes we made in 2022. Looking to increase your financial literacy?  Make sure you check out Medical Degree Financial University: MDFU.CO
May 2
32 min
What To Do With Unexpected Money
Disability Insurance for Docs: physicianfinancialservices.com  Looking to increase your financial literacy?  Check out Medical Degree Financial University → MDFU.Co
Apr 25
28 min
The Superpowers of a Taxable Brokerage Account
A lot of us have an idea of what we should do with money that we earn on a regular basis from our physician jobs. Oftentimes it goes towards our typical cost of living expenses: bills, debts, savings, investments. But what about money you get that you weren't expecting? Because yes, most of us will, at some point, get at least a little money that we didn't expect. Regardless of the source – whether it’s an inheritance, a tax refund, or a bonus at work – we end up with one question. To get the disability insurance you need as a physician or to have an independent review of your current policy visit physicianfinancialservices.com
Apr 18
30 min
Is it wrong for doctors to retire early?
When it comes to doctors retiring early because of F.I.R.E. (financial independence retire early), there’s an inevitable argument made against it and why it’s ethically wrong for physicians to do. That argument says unless you practice medicine until the day you die, it's unacceptable. Whether it’s citing a physician shortage that doesn’t really exist or feeling as though doctors shouldn’t retire early because we’re doing something good for society, some feel like we should give of our time, skills, and talents as long as possible, discounting the sacrifices that doctors have already made up until this point.  They don’t realize that a 30 year career is actually 40 based on the amount of hours most physicians work in a week. But… Why even have this conversation? Are doctors actually retiring early?  Doximity’s 2021 study found that 21.8% of physicians considered early retirement due to overwork. Around 25% of women physicians considered early retirement, and 40% of medical groups saw doctors retire early from their medical group. These numbers are not small. So let’s explore some of the possibilities around F.I.R.E. for physicians that can make life feel more liveable and enjoyable again.  Disability Insurance for Docs: physicianfinancialservices.com  Looking to increase your financial literacy?  Check out Medical Degree Financial University → MDFU.Co 2021 Doximity Early Compensation Report
Apr 11
40 min
The Most Important Financial Task for Doctors
Physician disability insurance is something you have to get right. If you were to learn only one thing from me, this might be the one thing that I would want you to know. It’s the reason that Money Meets Medicine exists, and why I started The Physician Philosopher.  Your most important financial asset is your ability to earn an income. You work hard to get your training protecting this asset, and your ability to accumulate an income and everything else we teach you doesn't matter if you don't make money first. This is why physician disability insurance is so important.  But there are a lot of misconceptions about disability insurance, and our goal here is to clear some of that up. Disability Insurance for Docs: physicianfinancialservices.com  Nine things to know about disability insurance on KevinMD.com (Lisha’s post) Looking to increase your financial literacy?  Check out Medical Degree Financial University → MDFU.Co
Apr 4
34 min
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