Financially Free Physicians

Sim Terwilliger, CFP®, CSLP®

Join host Sim Terwilliger, CFP®, CSLP®, on a transformative journey for physicians ready to take charge of their financial futures—no prescription needed! Each episode tackles the unique challenges and opportunities of a medical career, offering actionable strategies to boost your financial well-being, all while being mindful of student loans (which can feel like a bad case of indigestion). From navigating student loans to making smart investments, we explore everything from PSLF to practice management. Our mission is to empower you to achieve your financial goals in a relatable way—because financial health should feel like a walk in the park, not a marathon in scrubs. Whether you're a resident figuring out if ramen counts as food or a seasoned physician wondering where your paycheck went, our practical advice and light-hearted banter will guide you. Subscribe now and join us every other week for financial wisdom and a few good laughs—because your money should work as hard as you do!

  1. 06/05/2025

    Thank You — See You on Financially Free Era

    Tune in to the new show, Financially Free Era by SLP Wealth, discover the biggest misconceptions people have about being "financially free," the various forms of FIRE ("Financial Independence, Retire Early"), and more. We're excited to launch this new podcast and hope you subscribe on your favorite podcast app! Follow on Apple Podcasts, Spotify, Amazon Music, iHeart Radio, or Pocket Casts

    2 min

  2. 05/29/2025

    Whole Life or Whole Paycheck? When the Math Doesn't Add Up

    Most people don't expect their insurance advisor to also have an IMDb page. But Dennis Hornsby isn't your typical advisor. As Director of Insurance at Student Loan Planner, he helps high-income professionals navigate disability and life insurance to get the right policy. And when he's off the clock, he's been known to appear in films with folks like Jamie Foxx and Tommy Lee Jones. Listen in as Dennis shares what really matters when evaluating coverage, how to avoid common pitfalls, and how to choose the policy that actually fits your life. You'll come away with clarity on term vs. whole life insurance and the confidence to make smarter choices.   Key moments:   (03:16) Who actually needs life insurance, and how to tell if you're one of them (11:45) Save money with laddered life insurance policies (13:58) Why your employer's life insurance won't go with you, and what to do instead (17:18) When whole life insurance makes sense as part of a larger asset protection strategy (22:26) What it means to surrender a life insurance policy, and when it might be worth it   Doctors know best... about medicine. Book a free intro call to give your finances a second opinion. Just browsing? Learn more about us at SLP Wealth. Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify, or Amazon Music Leave an honest review on Apple Podcasts Follow us on YouTube at Financially Free Physicians

    25 min

  3. 05/22/2025

    DIS Is It - The DISability Insurance Guide You Need

    You've spent years building your career. What happens if you couldn't work tomorrow? This uncomfortable question highlights why disability insurance carries serious weight despite not being a flashy topic. Financial planner Jared Costigan, CFP®, CSLP®, joins us to talk about what it really means to protect your most valuable asset: your ability to earn an income. Learn what disability insurance actually covers, how short-term and long-term policies work, and why coverage tends to cost more for women. You'll hear why "own-occupation" coverage is worth looking for, how to compare what your employer offers versus buying your own policy, and which add-ons (called riders) are actually useful. Key moments: (04:26) Dual-physician households should still consider disability insurance (11:15) How private coverage stacks up against what your job offers (19:02) Not all riders are worth it — here's how to avoid paying for stuff you don't need (30:31) Why disability insurance costs more than life insurance Doctors know best... about medicine. Book a free intro call to give your finances a second opinion. Just browsing? Learn more about us at SLP Wealth. Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify, or Amazon Music Leave an honest review on Apple Podcasts Follow us on YouTube at Financially Free Physicians

    35 min

  4. 05/15/2025

    Married to Medicine

    Ever wonder what happens behind the scenes in a medical household? We're pulling back the curtain on physician family life and dishing the unfiltered truth about riding the med school rollercoaster together and juggling careers while supporting a doctor spouse. Listen in to hear about the late nights, the moved holidays, and the six-figure student loans as we share stories and wisdom you won't find in any textbook. Whether you're dating a med student or married to an attending, this conversation is like finding your people. You'll laugh, maybe tear up, and definitely feel less alone. Key moments: (05:08) Medical couples face tough but important conversations when ranking residency programs (12:26) "Who does what?" Rapid-fire household task division reveals medical family dynamics (19:59) Physician families need to acknowledge, "This is tough, but we're okay." (25:30) Crucial decision point: Pay student loan interest during residency or defer it? (33:03) Don't wait for retirement — bring elements of that dream life into your present Doctors know best... about medicine. Book a free intro call to give your finances a second opinion. Just browsing? Learn more about us at SLP Wealth. Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify, or Amazon Music Leave an honest review on Apple Podcasts Follow us on YouTube at Financially Free Physicians

    40 min

  5. 05/01/2025

    From Rounds to Receipts: The Complete Resident's Cashflow Guide

    Residency is a financial tightrope — you've got the education of a doctor but the paycheck of... well, not a doctor. You'll learn how to create a realistic cash flow plan without micromanaging every decision, how single residents navigate differently than couples, and when buying a house during residency makes sense (or doesn't). Listen in for practical advice without the judgment, shame, or complicated spreadsheets Key moments: (07:10) Start your cash flow plan by tracking regular bills first, then variable expenses (13:55) Borrowing extra during residency depends entirely on your repayment strategy (24:31) Credit card interest destroys wealth — always pay statements in full (34:35) Key questions residents should ask when comparing renting vs. buying a house (44:57) Should you save during residency — and if so, pretax or Roth? Doctors know best... about medicine. Book a free intro call to give your finances a second opinion. Just browsing? Learn more about us at SLP Wealth. Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify, or Amazon Music Leave an honest review on Apple Podcasts Follow us on YouTube at Financially Free Physicians

    51 min

  6. 04/17/2025

    Just Say No! Boundaries Without Burnout

    Work boundaries might not sound exciting, but they're the secret sauce to a happier, healthier career in medicine. Travis Hornsby of SLP Wealth joins us to share a unique perspective as both a multipreneur and the husband of a physician. You'll get practical tips for managing screen time, saying no without guilt, and protecting your energy in high-stress environments. This isn't just about getting through the workday — it's about reshaping your relationship with medicine so you can build a career that lasts for decades. After all, the best physicians aren't the ones working themselves to exhaustion. They're the ones who've figured out how to protect their time and their peace. Key moments: (03:30) Boundaries are fences — they're not mean, they're protective (09:10) Practical boundary tips any medical professional can start using right now (15:30) Boundaries should flex, not snap (20:34) Why boundaries hit differently when your bills are covered (25:37) You can't self-care your way out of a toxic situation Doctors know best... about medicine. Book a free intro call to give your finances a second opinion. Just browsing? Learn more about us at SLP Wealth. Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify, or Amazon Music Leave an honest review on Apple Podcasts Follow us on YouTube at Financially Free Physicians

    28 min

  7. 04/03/2025

    Negotiate Your Physician Contract With Confidence: Your Guide to Contract Negotiation Strategies

    Contracts might not be the most exciting part of starting a new job, but they're one of the most important. It's not just about salary — it's the full picture: benefits, time off, call schedules, and all the details that affect your day-to-day life. We're joined by financial planner Jared Costigan, CFP®, CSLP®, who's had a front-row seat to the physician career journey. His wife's about to be a fellow, and their circle of friends has been navigating these same conversations. Learn about the leverage you may not realize you have, the questions you should be asking, and how to look at an offer with your long-term well-being in mind. We also get into some surprising stats from Medscape that show how physicians across specialties think about money, benefits, and lifestyle. Whether you're signing your first contract or sizing up your next move, we're here to remind you: you're worth negotiating for. Key moments: (03:18) Money talk can feel awkward, but sharing compensation info with peers can give you major clarity and leverage (06:37) Medscape's physician compensation report helps you find average pay by specialty (11:32) These early negotiations give you a glimpse into how future conflict might be handled at your workplace (16:36) The two main types of malpractice insurance, and why occurrence-based is usually the safer bet (25:40) Negotiation strategies — your strongest leverage is knowing your value, and being ready to walk if the offer falls short Doctors know best... about medicine. Book a free intro call to give your finances a second opinion. Just browsing? Learn more about us at SLP Wealth. Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify, or Amazon Music Leave an honest review on Apple Podcasts Follow us on YouTube at Financially Free Physicians

    35 min

  8. 03/20/2025

    Childcare Costs Are Wild: Here's How to Manage Them

    Raising kids comes with love, joy — and a hefty price tag. We're peeling back the layers to reveal the often-overwhelming costs of childcare, breaking down what families need to know to stay ahead. Learn practical strategies to make expenses more manageable, from tax credits and dependent care FSAs to navigating nanny payroll and long-term planning. Tune in to learn how to keep more money in your pocket while giving your loved ones the best care possible. Key moments: (04:44) The child tax credit and child and dependent care credit have different age requirements — know the difference (07:34) Even with little income, filing taxes can unlock valuable credits (10:55) The child and dependent care credit isn't a set amount — here's how it's calculated (13:07) Your tax filing status impacts how you use a Dependent Care FSA (19:08) What to know about Schedule H when hiring a nanny (or other household help) Doctors know best... about medicine. Book a free intro call to give your finances a second opinion. Just browsing? Learn more about us at SLP Wealth. Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify, or Amazon Music Leave an honest review on Apple Podcasts Follow us on YouTube at Financially Free Physicians

    25 min
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Trailer

About

Join host Sim Terwilliger, CFP®, CSLP®, on a transformative journey for physicians ready to take charge of their financial futures—no prescription needed! Each episode tackles the unique challenges and opportunities of a medical career, offering actionable strategies to boost your financial well-being, all while being mindful of student loans (which can feel like a bad case of indigestion). From navigating student loans to making smart investments, we explore everything from PSLF to practice management. Our mission is to empower you to achieve your financial goals in a relatable way—because financial health should feel like a walk in the park, not a marathon in scrubs. Whether you're a resident figuring out if ramen counts as food or a seasoned physician wondering where your paycheck went, our practical advice and light-hearted banter will guide you. Subscribe now and join us every other week for financial wisdom and a few good laughs—because your money should work as hard as you do!

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