Rehab Your Finances

Mike Powers

Healthcare and education professionals spend their careers caring for others—often at the expense of their own financial clarity and security. At some point, many of us quietly wonder, “Who’s taking care of me?” Hosted by Mike Powers, physical therapist and full-time educator, this podcast examines personal finance through the shared culture, constraints, and values of healthcare and education. Like good clinical care and effective teaching, personal finance lives at the intersection of evidence, judgment, and human behavior. Each episode helps you place data and strategy within the context of your goals, priorities, and psychology—so you can move forward with confidence and intention.

Episodes

  1. 6h ago

    Stocks, Bonds, and Cash

    In this episode, Mike discusses how investment types can be considered across the categories of equities, fixed-income, and cash. He breaks down the general risk and return of each investment type, including how risk and return can be considered when determining asset allocation within the investment accounts discussed during the last episode. In this episode, Mike provides actionable insights to help you make intentional and informed investment decisions. Takeaways Investments fit into three main categoriesSending your money out to make moneyRisk and reward in investingTax considerations in asset allocationBenefits of long-term investingThe importance of diversificationPsychology of investing and avoiding unnecessary risk References What is a Bond?Evidence for All Equities PortfolioAsset Allocation and TaxesThe Simple Path to WealthThe Psychology of Money Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourfinances@drmichaelpowers.com

    24 min

  2. May 25

    Investment Accounts

    In this episode, Mike compares types of investment accounts including tax-deferred, tax-exempt, and taxable. He discusses key features of each, including tax benefits, contribution limits, and age restrictions on accessing invested money. As each type of investment account carries a trade-off between tax benefits and flexibility, Mike encourages listeners to thoughtfully consider their current, short-term, and long-term financial goals when investing. Takeaways Thinking of retirement accounts as age-restricted accounts for a holistic view of financesContribution limits, tax considerations, and access to funds across the investment account typesEarly withdrawal penaltiesRecord number of 401(k) hardship withdrawals underscores the importance of an emergency fundRule of 55 and SEPP for accessing 401(k) early without penaltyThe retirement tax triangle and diversifying across the investment accounts"Paper millionaires" and the middle-class trap References Record share of Americans taking hardship withdrawals form their 401(k)sHow does a 401(k) loan work?What is the rule of 55?SEPP explained: Penalty-free early retirement withdrawals and IRS rulesThe middle-class trap that could keep you from FIRE (how to escape it) Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourfinances@drmichaelpowers.com

    26 min

  3. May 10

    Order of Operations

    In this episode, Mike outlines the order of operations in personal finance. He emphasizes the importance of building a strong financial foundation by building up an emergency fund, getting the company match, and eliminating high-interest debt. Once that foundation is built, he highlights next steps to bolster your financial wellness. Takeaways The why and how of building a strong financial foundationDebt snowball or debt avalanche - which is better? How to integrate math and money psychology into your order of operationsHow the order of operations can increase your financial confidence References A snowball's chance: Debt snowball vs. debt avalancheThe debt snowball vs. avalanche methodThe Simple Path to WealthThe Future is Now: Age-Processed Images Motivate Community College Students to Prepare for Their Financial Futures Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourinances@drmichaelpowers.com

    26 min

  4. Apr 27

    Know Your Numbers, Part 2: Net Worth

    In this episode, Mike focuses on understanding net worth and its impact on financial health. He explores the relationship between income, savings rate, and net worth, providing a data-driven approach to improving your financial health. He highlights how considering net worth creates a positive shift in money psychology by considering long-term financial health within the context of personal values and goals. Takeaways Net worth is a key metric of financial health and increasing net worth can lead to greater freedom and flexibility.Knowing which rung you are on within the net worth ladder leads to better financial decision-making.The data on net worth and millionaires reveals that increasing net worth is an accessible goal for everyone. Chapters 00:00 Introduction to Net Worth09:34 Conceptualizing Net Worth19:22 Trends in Net Worth Data27:18 Linking Episodes: 50-30-20 Method and Net Worth References The Wealth LadderThe National Study of Millionaires Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourfinances@drmichaelpowers.com

    25 min

  5. Apr 13

    Know Your Numbers, Part 1: 50/30/20 Method

    In this episode, Mike discusses the 50/30/20 method for personal finance. He emphasizes the importance of knowing your numbers (what gets measured gets managed), how to approach allocating income to essentials, wants, and savings, and how to adapt the method to real-life situations. He highlights the value of paying yourself first not only as a means to improve your financial health, but as a signal of self-worth which transforms your money psychology. References What is the 50/30/20 Rule?Revisiting 50/30/20 for 2026How Americans Actually Split Their PaychecksMr Money Mustache Blog: Importance of Savings Rate Contac: rehabyourfinances@drmichaelpowers.com

    22 min

  6. Apr 10

    The Case for Cognitive Optimism

    In this updated release of episode 2, Mike makes the case for what he calls "cognitive optimism" - optimism grounded in data and informed by your unique perspective and values. If you can resist the lure of pessimism and the tendency toward negativity bias and loss aversion, you will discover that optimism is associated not only with higher savings rates but also longer lifespans - after all, we want to be around to enjoy the fruits of our labors! References Explanatory Style as A Mechanism of Disappointing Athletic PerformanceA Glass Half Full of MoneyAssociation of Optimism with Cardiovascular Events and All-Cause MortalityOptimism Associated with Exceptional Longevity Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourfinances@drmichaelpowers.com

    15 min

  7. Mar 30

    Recognizing Risk

    In this episode of Rehab Your Finances, Mike discusses the importance of recognizing the role that risk plays in your financial wellness. He highlights common risks such as unexpected expenses, loss of income due to disability or death, risks to property and self, and inflation risk. Throughout the discussion, he emphasizes the importance of considering the data within your specific life situation and goals. Expect to come away with tangible strategies for navigating risk after listening to this episode! References Disability Insurance Statistics and Facts for 2025Life Insurance Stats and TrendsWhite Coat Investor - Whole Life InsuranceMost Americans Would Struggle with Emergency ExpenseBankrate's 2026 Emergency Savings ReportThreshold of $2467 for Emergency SavingsEmergency Savings May Hold Key to Financial Well-Being Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourfinances@drmichaelpowers.com

    24 min

  8. Feb 28

    Why This Show Exists

    You take care of others—but who’s taking care of you? In this first episode of Rehab Your Finances, Mike shares why this show exists and who it’s for. Drawing on his experience as a physical therapist and educator, he explores the often-unspoken financial tension many healthcare professionals, educators, and caregivers feel after investing years of time, energy, and money into serving others. Rehab Your Finances reframes personal finance as something more than budgeting or optimization. Instead, it’s about clarity, sustainability, and building financial systems that support the life you’re actually living. If you’ve ever felt financially uncertain despite doing meaningful work, this show is for you. Music: Perpetual Motion by Amarent via FMA (public domain) Contact: mike@rehabyourfinances.com

    3 min
  • 8 Episodes

Ratings & Reviews

5
out of 5
2 Ratings

About

Healthcare and education professionals spend their careers caring for others—often at the expense of their own financial clarity and security. At some point, many of us quietly wonder, “Who’s taking care of me?” Hosted by Mike Powers, physical therapist and full-time educator, this podcast examines personal finance through the shared culture, constraints, and values of healthcare and education. Like good clinical care and effective teaching, personal finance lives at the intersection of evidence, judgment, and human behavior. Each episode helps you place data and strategy within the context of your goals, priorities, and psychology—so you can move forward with confidence and intention.

Information

  • Creator
    Mike Powers
  • Years Active
    2K
  • Episodes
    8
  • Rating
    Clean
  • Copyright
    © 2025 Mike Powers