A Physician’s Guide to Wealth - 7 Part Meaningful Goal Setting Framework Financial Residency

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
** if you didn’t already, tune into the 3 Simple Summer Money Hacks Episode**
James Nutter breaks down a game-changing framework to help physicians achieve their financial goals, adding a powerful fourth step to his previous three summer money habits. James introduces the meaningful goal-setting model, personalized for each physician's unique journey.
He navigates through goal identification, setting smart deadlines, prioritization, and the importance of visualization and accountability. Dive in to discover how to stay financially on track, avoid burnout, and live a fulfilling, present life while aiming for future financial success. Listen for actionable insights and practical advice.
7 Part Meaningful Goal Setting Framework. 
identify your goals - things you want in life. 
Places you want to go 
Things you want to do
Things I want to have
next 12 months
next 3 years
next 5 years
write them down and share them with others - how much would it cost? vision board.. what am I staring at in the face every day?
Identify what challenges could come up
set deadlines - if there’s no deadline it’s just a dream
prioritize your goals - items of wants and needs in a logical order
visualize your goals - picture yourself accomplishing the goal. 
be persistent 
With your new commitment to financial wellness and investing back into yourself what kinds of things do you want more of?
What new lifestyle things will you want?
Investments
Real Estate
Kids College Funds
Retirement planning
Experiences
Loans
Travel
Car 
House
Luxuries
Country Club
Training / Events
New Healthy Lifestyle choices - join x gym 
What does a meaningful life mean to you?
Cost to create your new meaningful life. 
A. Cost to live per month - complete circulatory cash flow system training (use rocket money $8/mo to help you or budget tool in emoney)
B. Current take home monthly income.
C. Difference Between A & B. You either have a surplus or shortage. 
D. Monthly Cost to accomplish the goals you wrote above (I.e. $1,000/mo in additional vacation, $600/mo car payment, etc.).
E. Add C&D. Your current need (or deficit) + Your vision.
F. What is your projected future monthly income?
H. Projected Surplus (or shortage). Subtract F minus E. 
I. What else would you like to do with your surplus? If you have a shortage, what else can you do to make more money and reach your goals?
Now visualize your meaningful journey. What will life be like at the new level?
Current lifestyle - what does your current life afford you.
Investments
Loans
Retirement funds
Kids college
Real Estae
Car
house
bills
luxuries
vacations
country club
self care
gym 
NEW LIFESTYLE - what my life will look like at this level
what will I improve.. what will I do different
Investments
Loans
Retirement funds
Kids college
Real Estate
Car 
house 
bills
luxuries
vacations
country club
Self care
gym
Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.