Finance for Physicians

Daniel Wrenne
Finance for Physicians

As a doctor, you begin your professional career as a high-income earner. But many people don’t talk about the cost of this achievement. As you know, medicine is a demanding field that requires a lengthy, expensive education and rigorous hours of training. When you spend that much time studying and working, you don’t have the time for side jobs to offset the cost, or the mental space to learn about anything else other than how to treat patients. This means most physicians, like you, end up having to take out huge loans to survive, without time to get a proper financial education. But by the time you start to earn income, you begin to feel trapped by “the system”. You start to feel behind in life - forcing you to continue to sacrifice your quality of life and your patient quality of care starts to decrease. This leads to poor health, stressed relationships, and a propensity for burnout from a vocation you worked so hard to achieve. We have a solution: we believe control of our finances leads to having control of our life. Welcome to “Finance for Physicians” a show where we teach and empower doctors, like you, to practice medicine the ways you always dreamed you would- free of financial worry to provide the best level of care for your patients, your family, and yourself. Don’t believe that “burn-out is a necessary myth.” You don’t have to sacrifice your health, relationships, and your career to live the life you want. If you want to learn how to have better control of your finances and more control over your life, this show is for you! “Finance for Physicians” is hosted by financial expert, Daniel Wrenne, of Wrenne Financial.

  1. FEB 20

    Making Medicine Work For YOU (Not The Other Way Around) - 2 Examples To Follow

    You’re going to die after listening to this. That’s a hard truth, but most of us don’t act that way. In this podcast, we talk to a couple of doctors that did. And in doing so, found a way to align their passions with their paychecks. They found a way to love what they do. So listen in as we talk to Doctors Jordan Grumet and Andy Berkowski whose brushes with death gave them the courage to take real action towards finding true fulfillment in their work. Dr. Jordan Grummet was a hospice doctor when he realized too many people waited until it was too late to live the life they truly wanted to live. This set him on a path to live his own life that way. He got his finances in order, reduced his workload for anything that didn’t fill his bucket, started leaning into things he was passionate about, and eventually became a full-time author, podcaster, and speaker with a side of medicine, not the other way around. Dr. Andy Berkowski was a sleep doctor working in a research facility when he had a brush with death himself, facing a serious cancer diagnosis. He too got his finances in order and took different opportunities in research until he figured out that starting a direct care practice was the thing that would bring him the most joy and create the most impact. You’ll see some recurring themes in these stories once they gain clarity-Getting their finances in orderTaking iterative steps toward their passions Finally, understanding they could make their medical careers be the thing that supports their passion, not the other way around. We hope by listening to this, we help you gain the clarity that proximity to death gave them. But don’t forget, you have limited time to act…. Enjoy! Transform your financial outlook today! Access our exclusive free resources for physicians and conquer financial stress. Access here.  P.S. We value your opinion! Share your thoughts and insights with us. Your feedback helps us improve and tailor our content to your needs. Click here to give us a piece of your mind. Links   Connect with me on my LinkedIn   Contact Finance for Physicians   Finance for Physicians   To schedule a call with one of our awesome planners, book HERE.

    54 min
  2. FEB 13

    Feeling Trapped? 3 Steps To Break The Golden Handcuffs Or Your Hospital Salary

    In speaking to hundreds of doctors a month, it's obvious that many feel trapped by their hospital salary, and that can lead to burnout, but it doesn't need to be this way!That's why we went back into our past episodes to give you 3 examples of physicians like you who have broken free of the golden handcuffs put on them by hospitals. You'll see that they each had 3 commonalities: There was an "AHA!" moment when their priorities shifted. For these 3 physicians, it coincided with the birth of a child (not always the first), but for you, it's important to validate that it's ok when your priorities shift. Needing to take action became apparent thanks to a 3rd party diagnosis. As a doctor, everyone counts on you to diagnose things for them, and it's ok to need that too. Whether it's a mentor, a good friend, a coach, or a financial advisor, find people who can give you perspective outside yourself. No one got there with one step, but they all got started. You'll see each of these physicians took multiple steps that eventually got them the freedom they desired. What is most important was that they got started. You'll hear from Dr. Mamta Kumar, Dr. Param Baladandapani, and Dr. Ronnie Shalev in this episode with a brief intro from Daniel in each one. Transform your financial outlook today! Access our exclusive free resources for physicians and conquer financial stress. Access here.  P.S. We value your opinion! Share your thoughts and insights with us. Your feedback helps us improve and tailor our content to your needs. Click here to give us a piece of your mind. Links   Connect with me on my LinkedIn   Contact Finance for Physicians   Finance for Physicians   To schedule a call with one of our awesome planners, book HERE.

    54 min
  3. JAN 23

    Should You Switch Hospitals? Start Private Practice? Leave Medicine? - A DIY Exercise

    Embark on a transformative journey with Daniel Wrenne, the trusted financial advisor dedicated to physicians' financial well-being. In this compelling episode of Finance for Physicians, Daniel unravels the art of intentional living through values-centric decision-making. Clarifying Your Values: Daniel guides you through thought-provoking questions, helping you uncover and prioritize your core values. Understand why this step is pivotal in making informed decisions across both personal and financial aspects of your life. Putting Values into Action: Explore practical strategies to translate identified values into actionable behaviors. Daniel shares insights on ranking values, crafting meaningful descriptions, and aligning financial choices with your deepest convictions. Witness the impact of values-driven decisions through a real-life client success story.   Key Takeaways:   - Gain clarity on the role of values in shaping a fulfilling life. - Learn practical steps to prioritize and describe your core values. - Understand the profound influence of values on financial decision-making. - Be inspired by a client's journey to financial success through intentional living.   Tune in now for a holistic approach to financial well-being, where wealth aligns seamlessly with your most cherished values. Your journey to a purposeful and fulfilled life begins here! Transform your financial outlook today! Access our exclusive free resources for physicians and conquer financial stress. Access here.  P.S. We value your opinion! Share your thoughts and insights with us. Your feedback helps us improve and tailor our content to your needs. Click here to give us a piece of your mind. Links   Connect with me on my LinkedIn   Contact Finance for Physicians   Finance for Physicians   To schedule a call with one of our awesome planners, book HERE.

    37 min
  4. JAN 16

    Can Real Estate Income Replace Your Physician Salary with Daniel Wrenne

    Join Daniel Wrenne in this episode of Finance for Physicians as he tackles the common question among physicians - can real estate income replace your salary? Daniel provides a high-level overview of real estate investment options, from ultra-passive REITs to more hands-on approaches like owning single-family homes. Discover the pros and cons of each method, considering factors like time commitment, risk, and potential returns. Daniel also shares insights into the slow-yet-steady growth of ultra-passive investments like REITs and explores the more active side of real estate, where higher returns come with increased responsibilities. Whether you're a physician exploring wealth-building options or simply curious about real estate investment, this episode offers valuable insights. Tune in to find the balance that suits your goals and learn practical tips for navigating the real estate landscape. Transform your financial outlook today! Access our exclusive free resources for physicians and conquer financial stress. Access here.  P.S. We value your opinion! Share your thoughts and insights with us. Your feedback helps us improve and tailor our content to your needs. Click here to give us a piece of your mind. Links   Real Estate Investing That Won't Burn You Out with Gregg Cohen of JWB     Connect with me on my LinkedIn   Contact Finance for Physicians   Finance for Physicians   To schedule a call with one of our awesome planners, book HERE.

    14 min
  5. JAN 9

    Second Opinion On Insurance Producer with Daniel Wrenne

    Welcome back to Finance for Physicians. Today, Daniel Wrenne continues the discussion on crucial questions from physician families. In this episode, he delves into the realm of product-based advisors and the complex world of "jack of all trades" advisors. Daniel breaks down the product-based advisor model, emphasizing their focus on selling financial products like disability insurance and life insurance. He unravels the incentive structures, revealing how these advisors get compensated and why their advice might be swayed toward selling more products. But wait, there's more! Daniel also sheds light on the "jack of all trades" advisor, a hybrid model that combines product selling, investment management, and charging fees for planning services. He explains why this approach can lead to compounded conflicts of interest and recommends steering clear of such setups. Tune in for a comprehensive exploration of these advisor models, gain insights into potential pitfalls, and arm yourself with awareness in your financial journey. Transform your financial outlook today! Access our exclusive free resources for physicians and conquer financial stress. Access here.  P.S. We value your opinion! Share your thoughts and insights with us. Your feedback helps us improve and tailor our content to your needs. Click here to give us a piece of your mind. Links   Connect with me on my LinkedIn   Contact Finance for Physicians   Finance for Physicians   To schedule a call with one of our awesome planners, book HERE.

    14 min

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4.8
out of 5
37 Ratings

About

As a doctor, you begin your professional career as a high-income earner. But many people don’t talk about the cost of this achievement. As you know, medicine is a demanding field that requires a lengthy, expensive education and rigorous hours of training. When you spend that much time studying and working, you don’t have the time for side jobs to offset the cost, or the mental space to learn about anything else other than how to treat patients. This means most physicians, like you, end up having to take out huge loans to survive, without time to get a proper financial education. But by the time you start to earn income, you begin to feel trapped by “the system”. You start to feel behind in life - forcing you to continue to sacrifice your quality of life and your patient quality of care starts to decrease. This leads to poor health, stressed relationships, and a propensity for burnout from a vocation you worked so hard to achieve. We have a solution: we believe control of our finances leads to having control of our life. Welcome to “Finance for Physicians” a show where we teach and empower doctors, like you, to practice medicine the ways you always dreamed you would- free of financial worry to provide the best level of care for your patients, your family, and yourself. Don’t believe that “burn-out is a necessary myth.” You don’t have to sacrifice your health, relationships, and your career to live the life you want. If you want to learn how to have better control of your finances and more control over your life, this show is for you! “Finance for Physicians” is hosted by financial expert, Daniel Wrenne, of Wrenne Financial.

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