Doctor's Wealth and Wellness

Norm Wright
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Doctor's Wealth and Wellness is a podcast designed to help busy attending physicians take control of their finances and personal health with straightforward, practical advice. Hosted by Norm Wright, this show empowers doctors to achieve financial freedom and wellness without the stress.Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser.  Cambridge and SKC Financial Group are not affiliated.

  1. Episode 98: Planting Seeds for Education – College Savings Strategies Part 1: 529 Plans and Prepaid Tuition for Physicians

    8H AGO

    Episode 98: Planting Seeds for Education – College Savings Strategies Part 1: 529 Plans and Prepaid Tuition for Physicians

    Episode 98 of Doctor’s Wealth and Wellness, hosted by Norm Wright, kicks off a two-part series on college savings strategies for high-income physicians, titled "Planting Seeds for Education" and centered on tax-advantaged options to combat soaring costs—where private nonprofit four-year colleges average around $45,000 in published tuition and fees for 2025-26 (with total cost of attendance often exceeding $65,000 including room, board, and other expenses per College Board data), leaving many physicians ineligible for need-based aid due to income thresholds. The episode explores three key approaches: (1) maximizing 529 plans for tax-deferred growth and federally tax-free qualified withdrawals (covering tuition, books, room/board), enabling high earners to superfund up to $95,000 per individual or $190,000 per married couple in 2026 via five-year gift tax averaging (based on the $19,000 annual exclusion, unchanged from 2025), with recommendations for low-fee plans like those in Utah or New York; (2) considering prepaid tuition plans (available in a limited number of states such as Florida, Texas, Virginia, Pennsylvania, and others) to lock in current rates against inflation, offering FAFSA asset protection (counted at a low parent rate) but with drawbacks like reduced flexibility for out-of-state or non-college paths; and (3) strategically navigating FAFSA for high earners by protecting excluded assets (e.g., retirement accounts, primary home), timing income, and using net price calculators, while noting that simplified FAFSA rules since 2024-25 eliminate the old penalty for grandparent-owned 529 distributions impacting aid. Illustrated with physician examples (Dr. Maria, Dr. Kevin, Dr. Laura) and actionable steps like researching plans on Savingforcollege.com, practicing FAFSA inputs, or modeling projections, the episode highlights how these tools preserve retirement savings, avoid loans, and transform education funding into a lasting legacy amid 2026's financial landscape. It concludes with a challenge to pursue one strategy, share insights via email, or book a free consultation for family-specific projections, urging proactive seed-planting for future generations. Investors should carefully consider investment objectives, risks, charges, and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and 529 Product Program Description, which can be obtained from a financial professional and should be read carefully before investing. Depending on your state of residence, there may be an in-state plan that offers tax and other benefits which may include financial aid, scholarship funds, and protection from creditors. Before investing in any state's 529 plan, investors should consult a tax professional. If withdrawals from 529 plans are used for purposes other than qualified education, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax. Examples in this episode are hypothetical and not representative of a specific individual.

    9 min
  2. Episode 97: Renewing Vows to Self-Care – Atomic Habits for Lasting Physician Burnout Prevention

    4D AGO

    Episode 97: Renewing Vows to Self-Care – Atomic Habits for Lasting Physician Burnout Prevention

    Episode 97 of Doctor’s Wealth and Wellness, hosted by Norm Wright, extends the Atomic Habits series (Episodes 83, 85, 93, 95) with a Valentine's-themed emphasis on "renewing vows to self-care" to prevent long-term physician burnout. It cites ongoing challenges in physician well-being—aligning with recent AMA data showing burnout rates dropping to around 45.2% in 2023 (from a 2021 peak of 62.8%) and further improvements to 43.2% in 2024, though still elevated compared to the general workforce and with some reports noting around 54% experiencing chronic exhaustion or related symptoms in surveys like the Physicians Foundation's 2025 Wellbeing Survey. The episode introduces three practical "layers" for sustainable prevention: (1) inverting burnout triggers by adding "friction barriers" (e.g., auto-logouts or no-work zones after certain hours) to make harmful habits harder, inspired by James Clear's inversion techniques in habit formation to reduce relapse risk; (2) upgrading personal environments into dedicated "sanctuaries" with renewal cues like cozy setups or essential oils for automatic daily recharge, drawing from organizational well-being models like Stanford's emphasis on supportive spaces and systems to promote fulfillment and mitigate exhaustion; and (3) reinforcing a "balanced healer" identity via weekly self-compassion reflections affirming self-care's role in better healing, supported by research linking self-compassion practices to reduced burnout symptoms and greater emotional resilience. Featuring relatable physician examples (Dr. Elena, Dr. Raj, Dr. Sofia) and actionable steps like setting app limits or journaling reflections, the episode underscores self-love as essential for preserving passion, relationships, and clarity in demanding medical careers. It wraps with a seven-day wellness challenge to implement one layer, journal prevention wins, and email progress for tailored anti-burnout tips, urging listeners to renew their self-care commitment this season. Examples in this episode are hypothetical and not representative of a specific individual.

    7 min
  3. Episode 96: Fertilizing Your Portfolio – Smart Allocation Strategies for Physicians in Volatile 2026 Markets

    FEB 17

    Episode 96: Fertilizing Your Portfolio – Smart Allocation Strategies for Physicians in Volatile 2026 Markets

    Episode 96 of Doctor’s Wealth and Wellness, hosted by Norm Wright, continues the farming metaphor by focusing on "fertilizing your portfolio" through smart asset allocation strategies tailored for physicians in volatile 2026 markets—driven by factors like midterm election uncertainties, policy crosscurrents, potential rate fluctuations, and broader economic instability as outlined in Schwab’s 2026 Market Perspective and various outlooks emphasizing choppy conditions amid earnings growth potential. Referencing a purported 2026 Schwab Physician Investor Study (consistent with Schwab's research on market instability and investor behaviors), it highlights that many physicians hold unbalanced portfolios after 2025 gains, heightening loss risks in rotations. The episode details three strategies: (1) broad diversification across asset classes, geographies, sectors, and avoiding over-tilts (e.g., no single segment exceeding 30–40%), supported by Morningstar insights on diversified portfolios better weathering rotations and outperforming concentrated ones long-term; (2) adding 10–20% alternatives such as REITs, commodities, or private credit for uncorrelated returns, inflation hedging, and volatility reduction (aligning with Fidelity and similar views on alternatives stabilizing portfolios); and (3) allocating 15–25% to defensive sectors (healthcare, utilities, consumer staples) plus cash buffers for downturn protection and opportunistic buying, drawing from analyses like BlackRock's emphasis on resilient sectors amid dispersion. With physician case studies (Dr. Elena, Dr. Raj, Dr. Sofia) and practical action steps like using analyzers to check exposures or adding REIT ETFs, the episode promotes reduced stress, preserved gains, and compounded wealth for retirement or sabbaticals in uncertain times. It concludes with a challenge to apply one strategy, share updates via email, or schedule a free consultation for customized allocation modeling, urging balanced nourishment for sustainable portfolio growth. Investing involves risk. Depending on the types of investments, there may be varying degrees of risk. Investors should be prepared to bear loss, including total loss of principal. Diversification and asset allocation strategies do not assure profit or protect against loss. Examples in this episode are hypothetical and not representative of a specific individual.

    8 min
  4. Episode 95: Heart-Centered Wellness – Atomic Habits for Emotional Resilience in Physician Life

    FEB 13

    Episode 95: Heart-Centered Wellness – Atomic Habits for Emotional Resilience in Physician Life

    Episode 95 of Doctor’s Wealth and Wellness, hosted by Norm Wright, delivers a heart-centered wellness episode timed for Valentine's Day in mid-February 2026, extending the Atomic Habits series by emphasizing emotional resilience for physicians facing empathy fatigue, patient losses, and family strains. It references physician wellness challenges, aligning with Medscape's ongoing reports (such as the 2025 Physician Mental Health & Well-Being Report surveying over 5,700 doctors and showing persistent burnout around 47% in recent data, with emotional exhaustion as a key factor). The episode presents three practical "layers" to build resilience: (1) stacking short gratitude practices onto existing daily routines (like commutes or coffee breaks) to enhance mindset and connections, drawing from James Clear's habit-stacking principles; (2) tracking small daily empathy wins (e.g., kind interactions) via apps or journals to reinforce compassionate identity and combat fatigue; and (3) creating optimized "pause spaces" at work or home with calming elements for quick emotional resets. Illustrated with stories of physicians like Dr. Maria, Dr. Raj, and Dr. Sofia, these evidence-inspired techniques aim to sustain compassion, joy, and clarity in patient care, relationships, and even financial decision-making. The episode wraps with a seven-day challenge to implement one layer, journal outcomes, and share via email for personalized feedback, promoting self-love as essential for loving others better this Valentine's season. Examples in this episode are hypothetical and not representative of a specific individual.

    6 min
  5. Episode 94: Cultivating Legacy Wealth – Physician Estate Planning Essentials for 2026

    FEB 10

    Episode 94: Cultivating Legacy Wealth – Physician Estate Planning Essentials for 2026

    Episode 94 of Doctor’s Wealth and Wellness, hosted by Norm Wright, focuses on essential estate planning strategies for physicians in 2026, framed as "cultivating legacy wealth" to protect assets from taxes, probate, and disputes. It highlights that many doctors have outdated plans amid policy uncertainties and outlines three key strategies: (1) establishing or updating wills and revocable living trusts (with pour-over provisions and guardians) to avoid probate and reduce family conflicts; (2) optimizing beneficiary designations, annual gifting (up to $18,000 per person, though actually $19,000 in 2026), and tools like ILITs or SLATs for tax minimization; and (3) incorporating healthcare directives, powers of attorney, and HIPAA authorizations to handle incapacity without court intervention. Through physician examples and action steps, the episode urges proactive updates for peace of mind, legacy protection, and generational security, ending with a challenge to implement one strategy and offering free consults. Cambridge does not offer tax or legal advice.  Please see the advice of a qualified legal professional. Examples in this episode are hypothetical and not representative of a specific individual.

    8 min
  6. Episode 93: Breaking Through Plateaus – Advanced Atomic Habits for Sustained Physician Wellness in 2026

    FEB 6

    Episode 93: Breaking Through Plateaus – Advanced Atomic Habits for Sustained Physician Wellness in 2026

    In Episode 93 of Doctor’s Wealth and Wellness, a Friday wellness episode continuing the Atomic Habits series, host Norm Wright, a Certified Financial Planner with SKC Financial Group, addresses how physicians can break through inevitable plateaus in their 2026 health goals—whether caused by winter slumps, intense caseloads, or life chaos—when initial momentum fades and frustration sets in. Citing physician lifestyle reports showing a majority start strong but stall by mid-year, Norm draws on advanced techniques from James Clear to evolve small, compounding habits into durable identity-based changes that sustain energy, resilience, and joy. He outlines three accelerator strategies tailored for busy doctors: habit inversion to add friction to counterproductive behaviors (like hiding junk food or blocking distractions to protect good habits, boosting adherence significantly); environment upgrades to make positive actions effortless by redesigning spaces with dedicated wellness tools and setups (linked to research showing improved long-term success); and identity reinforcement via weekly Sunday reflections that shift focus from “doing” habits to “being” a resilient, energized physician, solidifying motivation through affirmations and tracking. These advanced layers prevent depletion, support superior patient care, family presence, and clearer financial decision-making, with Norm challenging listeners to apply one strategy to a stalled habit for seven days, journal the breakthroughs, and email support@skcfinancial.com for tailored feedback—urging sharing with colleagues facing similar walls before the next Tuesday finance episode. Live for today, plan for tomorrow. Examples in this episode are hypothetical and not representative of a specific individual.

    7 min
  7. Episode 92: Safeguarding Your Income – Physician Disability Insurance Mastery in 2026

    FEB 3

    Episode 92: Safeguarding Your Income – Physician Disability Insurance Mastery in 2026

    In Episode 92 of Doctor’s Wealth and Wellness, a Tuesday financial episode, host Norm Wright, a Certified Financial Planner with SKC Financial Group, emphasizes the vital importance of disability insurance for physicians in 2026, framing it as essential "fences" protecting your financial farm from devastating storms like injury or illness that could halt income streams funding retirement, education, or lifestyle goals. Citing data showing many physicians remain underinsured—often relying on limited group policies—Norm highlights how proper coverage can replace 60–70% of income tax-free, and he details three actionable strategies: prioritizing true "own-occupation" policies with specialty-specific riders to ensure benefits if unable to practice your particular medical role (even if capable in another capacity, with examples from carriers like MassMutual or Principal and real physician success stories); layering inadequate employer group plans with individual policies supplemented by key riders such as cost-of-living adjustments (COLA) for inflation protection and future purchase options to increase coverage as earnings grow without new underwriting; and conducting annual policy reviews to adapt for life changes like marriage, children, or practice shifts while confirming full coverage for mental health conditions and residual disability benefits. These measures safeguard physicians' earning power—their greatest asset—against rising healthcare demands and burnout risks, enabling fearless investing and long-term wealth preservation, with Norm challenging listeners to review one policy aspect this week, share findings via email at support@skcfinancial.com for a free review and quotes, or book a consult, while encouraging sharing with potentially underinsured colleagues ahead of the Friday wellness episode. Live for today, plan for tomorrow. Examples in this episode are hypothetical and not representative of a specific individual.

    8 min
  8. Episode 91: Mid-Winter Motivation – Keeping Your 2026 Health Goals Alive When Resolutions Fade

    JAN 30

    Episode 91: Mid-Winter Motivation – Keeping Your 2026 Health Goals Alive When Resolutions Fade

    In Episode 91 of Doctor’s Wealth and Wellness, a Friday wellness episode set in mid-January 2026, host Norm Wright, a Certified Financial Planner with SKC Financial Group, tackles the widespread fade of New Year’s health resolutions among physicians as winter drags on and demanding schedules take their toll. Referencing physician lifestyle trends showing that many doctors launch the year with strong fitness, nutrition, or stress-management intentions but see over half slip by February, Norm emphasizes that these lapses are not failures but chances to refine goals for sustainability. Drawing from habit-building principles, he presents three effective strategies to maintain momentum: performing a mid-month goal audit to reassess and realistically adjust targets (such as shortening workouts during call weeks, with research indicating boosted adherence), building accountability through regular check-ins with a colleague, spouse, or group to transform setbacks into encouragement (linked to higher success rates), and incorporating meaningful non-food rewards for milestones to reinforce positive habits (shown to improve retention). These gentle adjustments help physicians combat seasonal burnout, enhance resilience for patient care, family life, and financial stability, and promote compounding small wins. Norm concludes with a seven-day challenge to implement one strategy, invites listeners to journal experiences and email support@skcfinancial.com for personalized tips, encourages sharing the episode with struggling colleagues, and teases the upcoming Tuesday finance topic—live for today, plan for tomorrow. Examples in this episode are hypothetical and not representative of a specific individual.

    6 min
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About

Doctor's Wealth and Wellness is a podcast designed to help busy attending physicians take control of their finances and personal health with straightforward, practical advice. Hosted by Norm Wright, this show empowers doctors to achieve financial freedom and wellness without the stress.Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser.  Cambridge and SKC Financial Group are not affiliated.

Information

  • Creator
    Norm Wright
  • Years Active
    2024 - 2026
  • Episodes
    98
  • Rating
    Explicit
  • Copyright
    © 2026 Doctor's Wealth and Wellness
  • Show Website
    Doctor's Wealth and Wellness