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.

  1. Aug 17

    Season 1 Recap

    Send your questions and comments here! In this episode, Mike recaps the key insights from season one of Rehab your Finances. He explores the interplay between money mindset and numbers, highlighting how both play key roles in financial wellness. Mike emphasizes how the benefits of optimism and purpose extend beyond personal finance, as they are protective against job burnout and are associated with greater lifespan and happiness in retirement. Takeaways Importance of cognitive optimism in financial healthRole of mindset in personal financeImpact of money scripts and self-talkThe importance of savings rateThe value of tracking net worthPractical steps for financial planning and wellness References Belief in Exercise May Make it More Effective Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourfinances@drmichaelpowers.com

    Season 1 Recap

  2. Aug 3

    Caregiving Considerations

    Send your questions and comments here! In this episode, Mike examines the impact of caregiving on finances. After outlining income and job growth data for physical therapists, nurses, and educators, he outlines key factors impacting job satisfaction and burnout among these caregiving professions. He then discusses the impact of caregiving for young children and/or aging family members, highlighting the value of a supportive workplace and building out a financial buffer. Throughout this episode, Mike emphasizes the importance of autonomy, competence, social connections, and reasonable workload on job satisfaction and sustainable financial wellness. Takeaways PT, nursing, and teaching median incomes and job outlookFactors impacting job satisfaction and burnout, including secondary traumatic stressAt least 20% of US adults are caregiversChildcare costs impact businesses, tooUnpaid family care exceeds $96 billion annually References Physical Therapy job dataRegistered Nurses job dataKindergarten and Elementary Teachers job dataHigh School Teachers salary income and job dataTeachers Becoming MillionairesPhysical Therapy Job SatisfactionFactors Impacting Physical Therapy BurnoutImpact of Secondary Traumatic Stress on Healthcare ProvidersHospital Worker Job SatisfactionTeacher Job SatisfactionEconomic Impact of Child Care by StateEconomic Impact of Child Care ChallengesFinancial Toll of Family CaregivingGet Paid as Family Caregiver Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourfinances@drmichaelpowers.com

    Caregiving Considerations

  3. Jul 20

    Money Scripts

    Send your questions and comments here! In this episode, Mike discusses money scripts - our hidden and often subconscious beliefs and stories we tell ourselves about money. He explores the impact of these scripts on our financial wellness, highlighting scripts which are correlated with lower net worth, lower income, and higher revolving debt. Mike highlights how our feelings about money are often uncorrelated to our actual money numbers due to the money scripts we unquestioningly follow. In this episode, Mike provides a framework for discovering and exploring the money scripts which may be holding you back from financial wellness. Takeaways Money scripts - hidden drivers of financial behaviorsKlontz Money Script InventoryScripts: money avoidance, money status, money worship, and money vigilanceRemit Sethi's money typesMoney types: avoider, optimizer, worrier, dreamerHow you feel about money is uncorrelated to your financial numbersHigh professional achievement does not necessarily correlate to rational financial decisions References Money Beliefs and Financial Behaviors: Development of the Klontz Money Script InventoryDiscover the 4 Types of Money Scripts! (Video)How Clients' Money Scripts Predict Their Financial BehaviorsMoney Scripts: Why Do We Make Poor Money Choices?Evaluating the Klontz Money Script Inventory with a Diverse SampleMoney For CouplesRemit Sethi's 4 Money Types Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourfinances@drmichaelpowers.com

    Money Scripts

  4. Jul 6

    Deconstructing Retirement

    Send your questions and comments here! In this episode, Mike questions whether the "magic" number for retirement is truly $1.46 million, as suggested in a recent Northwestern Mutual Planning and Progress survey. He outlines how to project your retirement needs by first determining your anticipated expenses and then applying the 25x rule. Mike discusses the key assumptions underlying the 25x rule and the 4% rule, including recent revisions to the 4% rule. He highlights why rules of thumb rarely align with real-life findings, citing evidence that most retirees end up needing and spending less in retirement than these rules of thumb would indicate. He closes by emphasizing how retirement extends far beyond financial numbers, citing examples of the common habits shared by the happiest retirees. In this episode, Mike provides a holistic view on retirement planning which places the financial numbers within the greater context of meaning and purpose. Takeaways Is $1.46 million the "magic" number for a comfortable retirement?The importance of knowing your estimated expenses in retirementSocial Security - insolvency does not mean gone25x rule and 4% rule - helpful for back of napkin calculationsKey assumptions underlying the 4% ruleRetirement risks: inflation, sequence of returns, healthcareMost retirees do not live solely off retirement portfoliosHealthy financial habits now carryover into retirementHappiest retirees emphasize social connections, curiosity, and purpose References Americans Believe They Will Need $1.46 Million in RetirementSocial Security WebsiteStatus of Social Security 2026What is the Retirement Spending Smile?Why Most Retirees Will Never Draw Down Their Retirement PortfolioFive Lifestyle Secrets of the Happiest RetireesWhat The Happiest Retirees Know: 10 Habits for a Healthy, Secure, and Joyful Life Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourfinances@drmichaelpowers.com

    Deconstructing Retirement

  5. Jun 22

    The Magic of Compounding

    Send your questions and comments here! In this episode, Mike demonstrates how annual returns and time spent invested interact to produce unbelievable results which seem like magic. He peels back the curtain on the magic of compounding, including an in-depth discussion of how to make it work for you instead of against you. He highlights how each percentage point makes a tremendous difference in long-term investing, which is why you should understand how expense ratios and financial fees impact your returns. In this episode, Mike provides actionable insights to empower you toward taking control of your financial plan and wellness! Takeaways The magic of compound interestAnalogy of the lily pad taking over the pondRule of 72 for estimating doubling timeImportance of time in the marketUsing a compound interest calculatorNominal vs real returns (and why you should care)Why 1.5% is a big deal References Compound Interest CalculatorPassive Fund InformationUnderstanding Expense RatiosMorningstar: When Do Active Managers Win?Vanguard's VOO Hits 1 Trillion DollarsHow Much Does a Financial Advisor Cost?In Defense of AUM Fees Music: Perpetual Motion by Amarent via FMA (public domain) Contact: rehabyourfinances@drmichaelpowers.com

    The Magic of Compounding

  6. Jun 8

    Stocks, Bonds, and Cash

    Send your questions and comments here! 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

    Stocks, Bonds, and Cash

  7. May 25

    Investment Accounts

    Send your questions and comments here! 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

    Investment Accounts

  8. May 10

    Order of Operations

    Send your questions and comments here! 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

    Order of Operations
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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
    2026
  • Episodes
    13
  • Rating
    Clean
  • Copyright
    © 2026 Rehab Your Finances
  • Show Website
    Rehab Your Finances