913 episodes

As a doctor, you spent decades in school to get to where you are. Unfortunately, during all those years in medical school and residency, you probably didn't receive a financial education. But, not to worry. That’s where I come in. Think of this podcast as your financial residency without the long hours and sleepless nights! I will guide you through a financial education resulting in money confidence and clarity in this critical aspect of your life. You’ll understand how you make money, how you spend money, how your hard-earned money can work for you, and how to protect yourself and your family. I have witnessed residents and fellows bombarded by life and disability insurance salesmen and other “investment” pitches that are not in their best interest. You didn’t receive any formal financial education in your decades of medical training, so how are you supposed to know the good financial advisors from the bad? This podcast will help with that. Remember, it’s ok to not know the difference between a ROTH IRA and a 403b or which 529 plan is best. This podcast will simplify highly complex concepts and translate industry jargon into plain English. Are you ready to take action and make smarter, more informed financial decisions? Great - let's do this! Let your financial residency begin.

Financial Residency Financial Residency Network

    • Business
    • 4.5 • 299 Ratings

As a doctor, you spent decades in school to get to where you are. Unfortunately, during all those years in medical school and residency, you probably didn't receive a financial education. But, not to worry. That’s where I come in. Think of this podcast as your financial residency without the long hours and sleepless nights! I will guide you through a financial education resulting in money confidence and clarity in this critical aspect of your life. You’ll understand how you make money, how you spend money, how your hard-earned money can work for you, and how to protect yourself and your family. I have witnessed residents and fellows bombarded by life and disability insurance salesmen and other “investment” pitches that are not in their best interest. You didn’t receive any formal financial education in your decades of medical training, so how are you supposed to know the good financial advisors from the bad? This podcast will help with that. Remember, it’s ok to not know the difference between a ROTH IRA and a 403b or which 529 plan is best. This podcast will simplify highly complex concepts and translate industry jargon into plain English. Are you ready to take action and make smarter, more informed financial decisions? Great - let's do this! Let your financial residency begin.

    Mortgage Minute - What If You Can't Be Present at Closing on Your New Home Purchase?

    Mortgage Minute - What If You Can't Be Present at Closing on Your New Home Purchase?

    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.
    You have a couple options if you cannot be present at the scheduled time for closing. Doug talks about ways to accomplish this and explains why you must plan ahead to utilize your options of using a power or attorney or getting a remote notary. To learn more about Doug, go to www.DougCrouse.com. 

    • 5 min
    A Physician’s Guide to Wealth - Financial Wellness 101: What's your money love language?

    A Physician’s Guide to Wealth - Financial Wellness 101: What's your money love language?

    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.
    James Nutter delves into the personal side of financial decision-making by exploring "money love languages" from the Gottman Institute, emphasizing the importance of understanding what money means to you and your partner. Drawing from his own experiences with security, freedom, and success, James highlights how childhood influences shape our monetary behaviors. 
    Listeners are encouraged to identify their top money love languages and consider how these can guide their financial decisions. Whether you're single or in a relationship, this episode provides valuable insights into aligning your finances with your personal values. Special mention to James' fiancée, Steph.
    Click here to access your free financial wellness 101 playbook
    Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.
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    Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

    • 13 min
    A Physician’s Guide to Wealth - Transition to Attending With Confidence

    A Physician’s Guide to Wealth - Transition to Attending With Confidence

    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.
    James Nutter dives into four essential financial habits for new physicians transitioning to attending status. Drawing from client success stories, James emphasizes the importance of a well-structured financial plan, setting personal life goals, and understanding cash flows. 
    Listeners receive practical advice on scheduling "money talks," creating a life plan, managing new income, and developing an action plan for free cash flows. Learn how to balance enjoying life now with future financial security during this pivotal career shift. Tune in for actionable steps tailored for medical professionals aiming to live a meaningful, financially confident life.
    Timestamp
    Summary
        0:03
    Four Critical Habits for Physicians Transitioning to Attending Hood
    4:26
    Debunking Financial Myths and Their Impact on Relationships
    6:42
    Effective Strategies for Scheduling and Discussing Financial Matters
    11:22
    Building Your Life Plan Before Your Career
    16:23
    Understanding Cash Flows for Financial Planning
    19:13
    Financial Planning for New Medical Attendees
    22:10
    Seven-Part Goal Setting for Financial Priorities and Investments
    24:49
    Financial Wellness Tips for Physicians Transitioning to Attending

    Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

    • 28 min
    Mortgage Minute - What is an impound (escrow) account?

    Mortgage Minute - What is an impound (escrow) account?

    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.
    Doug explains the goal and use of an impound/escrow account. Basically it builds a cushion for the bank to make payments on your behalf for taxes and insurance.
    He also highlights why your loan estimate may differ from your closing disclosure regarding this account. To learn more about Doug, go to www.DougCrouse.com. 

    • 6 min
    Grand Rounds - 5 Ways to Set Yourself Up for Success with Lisha Taylor

    Grand Rounds - 5 Ways to Set Yourself Up for Success with Lisha Taylor

    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.
    Dr. Lisha Taylor, podcast host of WealthMindedMD, joins us to talk about 5 important things to review either when taking a new job or annually when signing up for new benefits. 
    We talk about protecting yourself, reviewing benefits, maximizing retirement accounts, being strategic about time off and making sure you understand your schedule and expectations.
    You can learn more about Lisha or listen to her podcast at www.WealthMindedMD.com. 

    • 48 min
    Mortgage Minute - How might a declining market affect a new mortgage?

    Mortgage Minute - How might a declining market affect a new mortgage?

    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.
    Doug explains how a declining market might impact getting a mortgage on a new property. We have seen a rapid rise in home prices over the past few years, but several markets throughout the US are pulling back and appraisals are coming in short. 
    When this happens, a bank may not lend you the full offer price you initially made. To learn more about Doug, go to www.DougCrouse.com.

    • 4 min

Customer Reviews

4.5 out of 5
299 Ratings

299 Ratings

PaigeBPodcasting ,

Great Show!

Every episode they’ve got another interesting topic. I’ve learned so much from this podcast. It really is like going through a financial residency!

StuC1234567890 ,

Too sales-y, undercuts the sincerity

This podcast was sold out to a different podcaster who is only a financial adviser and not an MD, while keeping the branding and theme music. The result is a totally generic, bland, and useless podcast that is, at best a retread of what is already out there, and at worst a sales pitch for these financial planners to get your business. I just sat through my last episode, where I wasted 15 minutes while hearing an overly simplistic and frankly uninformed “calculation” on what my physician hourly rate is, only to be told that I should give my financial planning over to “the experts” (ie these podcasters) instead of learning enough to do it myself. Their argument is that, after all, they wouldn’t try to set their own broken femur or do their own appendectomy, so we physicians shouldn’t try to do our own financial planning or taxes. What a specious argument. If you are a physician who is trying to learn financial basics so that you don’t get hosed by predatory financial planners who describe your medical education as “sunk” cost (their word choice, not mine), I suggest you go elsewhere. You can’t even find the older basic episodes (by the prior podcaster) that were actually useful. I regret the time I’ve spent listening to this book. Go try the audiobook versions of some of the classic physician finance books (Google it, there’s like 4 of them that are commonly recced) and be respected for your intelligence and not taken for a sales job.

Jackie in GA ,

What happened?

Financial Residency was one of the best shows out there—especially because they periodically released shows where they went deep on a family’s finances and gave advice on what they did well (and where they needed to improve). Without warning, they took all of those episodes down and stopped running them. What they now run is generic, recycled, and often out-of-date. This went from a gem to a dud. What went wrong?

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