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Financial Residency

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As a doctor, you spent decades in school to get to where you are. Unfortunately, during all those years in medical school and residency, you probably didn't receive a financial education. But, not to worry. That’s where I come in. Think of this podcast as your financial residency without the long hours and sleepless nights! I will guide you through a financial education resulting in money confidence and clarity in this critical aspect of your life. You’ll understand how you make money, how you … Continue Reading >>
As a doctor, you spent decades in school to get to where you are. Unfortunately, during all those years in medical school and residency, you probably didn't receive a financial education. But, not to worry. That’s where I come in. Think of this podcast as your financial residency without the long hours and sleepless nights! I will guide you through a financial education resulting in money confidence and clarity in this critical aspect of your life. You’ll understand how you make money, how you spend money, how your hard-earned money can work for you, and how to protect yourself and your family. I have witnessed residents and fellows bombarded by life and disability insurance salesmen and other “investment” pitches that are not in their best interest. You didn’t receive any formal financial education in your decades of medical training, so how are you supposed to know the good financial advisors from the bad? This podcast will help with that. Remember, it’s ok to not know the difference between a ROTH IRA and << Show Less
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Financial Vitals: Using Your HSA To Build Wealth If you already have or plan to set up or start a health savings account (HSA), how do you make sure it is efficient to build wealth and possibly invest?   In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how to best manage HSAs. Topics Discussed: • HSA: Best tax shelter that exists as a vehicle to put your money into • HSA vs. Flex Spending Account (FSA): What’s the difference? • HSA Strategy: ◦ Rule #1: It’s best not to spend out of your HSA ◦ Rule #2: If using HSA to build wealth, make sure to invest cash ◦ Rule #3: As you have healthcare expenses, save the receipts • When to start using your HSA? Balance equals future expected healthcare costs • HSA Beneficiaries: Make sure to identify spouse or dependents • When is the best time to fund HSA? Max out sooner than later • Cafeteria Plan: Better to funnel money through employer HSA for matching funds • Switching Providers: Keep up with transfers and minimize number of HSAs
Mortgage Minute: Common Terminology Used When Applying for a Mortgage Today I just wanna give a quick overview of a little bit of terminology on the lender forms that you're looking at throughout the process. So by that I'm obviously talking about the, fees for when you're shopping lenders. Link to website:  https://dougcrousephysicianloans.com/
Grand Rounds: International Locums with Dr. Rachael Consoli Today we are joined with Dr. Rachel Consoli, who has traveled just the entire globe as an OB GYN provider. Dr. Consoli shares her story working with Locums and her experiences. Have you ever considered a different way of practicing medicine, whether you are burned out, need a change at pace, or are looking to supplement your income? Locums story.com is the perfect place to start. https://locumstory.com/
Coffee and Contracts: How to negotiate for extra pay to the group to cover shifts instead of paying locums. Today we are answering questions that were sent in. The next one that we're gonna do today, how to negotiate for extra pay to the group to cover shifts instead of paying locums? LINK: www.ContractDiagnostics.com Have you ever considered a different way of practicing medicine, whether you are burned out, need a change at pace, or are looking to supplement your income? Locums story.com is the perfect place to start. https://locumstory.com/
Financial Vitals: 5 Signs You're Working With An Insurance Agent Posing As An Advisor Insurance agents posing as advisors is more common than you may realize and can create conflicts of interest. The key is having better awareness. Don’t get fooled again!  In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about five ways to identify whether you are working with an insurance person who is posing as a financial advisor. Topics Discussed: • Sign #1: Aggressive posers seek you out after making contact or via referrals • Sign #2: Posers offer you free or low-cost financial “advice” • Sign #3: Posers act as trusted advisors; don’t refer to themselves as salespeople • Sign #4: Advice and product solutions offered by posers are similar across clients • Sign #5: Agents posing as advisors make it difficult to leave them/their products LINK: www.WrenneFinancial.com Have you ever considered a different way of practicing medicine, whether you are burned out, need a change at pace, or are looking to supplement your income? Locums story.com is the perfect place to start. https://locumstory.com/
Coffee and Contracts: Talk about compensation and liability for managing mid level providers. Hey, this is John with contract diagnostics. I want to give a quick message on nurse practitioners and PAs. We had a couple of questions that were sent in, and one of them was about compensation for managing mid-level providers. Join me as I answer this question! LINK: www.ContractDiagnostics.com Have you ever considered a different way of practicing medicine, whether you are burned out, need a change at pace, or are looking to supplement your income? Locums story.com is the perfect place to start. https://locumstory.com/
Financial Vitals: How Conflicts Of Interest Muddy the Financial Advice Waters with Donovan Sanchez Physicians seeking independent financial planning advice at a fair price should find financial advisors who mitigate conflicts of interest that cause more harm than good. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Donovan Sanchez, a Certified Financial Planner (CFP) and founder of Skyview Financial Planning. Donovan covers different conflicts of interest that most people are unaware of and the importance of disclosure requirements to find a quality financial advisor. Topics Discussed: • Financial Advisor Types: Anybody working in the financial services industry • Compensation Models: Pay for services via commission, fee-only, or fee-based • Challenging Conflict: Provide advice in advisor’s and client’s best interest • Teaching/Training: How to make sales and do financial planning to offer advice • Major Manufacturers: Research proprietary products, means of distribution to sell • Learn Language: Talk like a financial advisor to focus on quality or make sales • Clients and Referrals: How many to make sales and create custom plan/advice • Disclosure: Put client’s interests first and disclose/manage conflicts of interest • Space and Stability: Become a good financial advisor before giving advice • Find Financial Advisor: Reach out to identify training, guidance, and get paid • Future of Financial Advice: Take step forward to regulate financial advisor title LINKS: www.WrenneFinancial.com Have you ever considered a different way of practicing medicine, whether you are burned out, need a change at pace, or are looking to supplement your income? Locums story.com is the perfect place to start. https://locumstory.com/
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