Personal Finance for PhDs

Emily Roberts
  • 5.0 (47)
  • SELF-IMPROVEMENT
  • UPDATED SEMIMONTHLY
Personal Finance for PhDs

As a PhD (in training), you face unique money challenges that stem from your low stipend/salary during your years of graduate school and postdoc training. Listen here for the hard-won financial wisdom of your fellow graduate students, postdocs, and PhDs with Real Jobs. From budgeting and frugality to investing and debt repayment, this podcast is your higher education in personal finance.

  1. This Former Prof Found True Flexibility and Profitability in Her Academic Editing Business

    3 DAYS AGO

    This Former Prof Found True Flexibility and Profitability in Her Academic Editing Business

    In this episode, Emily interviews Dr. Paulina Cossette, a former professor and the owner of Acadia Editing. Paulina followed the prescribed academic path, but found herself profoundly unhappy in her faculty position. After leaving academia, Paulina stumbled into academic editing and eventually started working under her own brand. As a business owner, Paulina earns more, works less, and has true flexibility, which has enabled her to design her lifestyle in a way that was not possible within academia.

    31 min
  2. Negotiation and Long-Term Thinking Effected Financial Success for This International PhD

    NOV 18

    Negotiation and Long-Term Thinking Effected Financial Success for This International PhD

    In this episode, Emily interviews Wen, who recently earned a PhD in plant pathology from the University of Wisconsin-Madison. Wen came to the US for her master’s degree immediately after finishing undergrad and started learning about the US financial system, even though she had an avoidant money mindset. After overdrafting her checking account, she realized she needed to take control of her finances, start thinking long-term, and work toward financial goals such as investing inside a Roth IRA. Alongside peers, Wen negotiated the research assistantship stipends in her department, they were ultimately given a 13% raise. She has started applying those negotiation skills in other arenas. Finally, Wen explains how she pursued a career in tech transfer, starting with professional development and an internship during grad school.

    46 min
  3. This Grad Student Channeled Her Financial Exuberance into Teaching and Coaching Her Peers (Part 2)

    NOV 4

    This Grad Student Channeled Her Financial Exuberance into Teaching and Coaching Her Peers (Part 2)

    In this episode, Emily interviews Elle Rathbun, a 5th-year PhD candidate at UCLA. This is a continuation of a conversation started in the last episode. Last year, Elle shifted her financial education efforts into an official position with the UCLA financial wellness office, through which she delivered presentations and provided one-on-one coaching. Having a 75% position with the university required her to adjust how she managed both her time and money. Elle and Emily conclude the interview by sharing ideas for how the listeners can start helping their peers at their own universities with respect to their finances.

    35 min
  4. This Grad Student Channeled Her Financial Exuberance into Teaching and Coaching Her Peers (Part 1)

    OCT 21

    This Grad Student Channeled Her Financial Exuberance into Teaching and Coaching Her Peers (Part 1)

    In this episode, Emily interviews Elle Rathbun, a 5th-year PhD candidate at UCLA. Elle shares her financial origin story of growing up in a low-income family, becoming a QuestBridge scholar during undergrad, and working for two years before matriculating at UCLA. During those years, Elle developed her financial acuity and prepared financially for grad school, including investing for retirement and saving up cash. This energy carried forward into grad school, where within her department Elle started a group to chat about money and created resources to help her peers navigate the financial aspects of their fellowship and UCLA's bureaucracy. Tune in to the next episode for part two of the conversation!

    45 min
  5. Navigating the Career and Financial Transition Out of Academia

    OCT 7

    Navigating the Career and Financial Transition Out of Academia

    In this episode, Emily interviews Dr. Jill Hoffman, a former assistant professor who left academia to become a stay-at-home parent and part-time business owner supporting academic entrepreneurs (including Emily!). Jill recounts how she decided that academia was no longer the best place for her and how she and her husband planned out how to swap roles as the stay-at-home parent and move cross-country to be closer to family. One of the major themes of this episode is how to prepare financially and in your career for transitions. At the end of the interview, Jill gives not only her best financial advice but also her best advice for someone looking to leave academia and someone starting a side business.

    45 min
  6. Your Side Hustle Really Is a Business and Other Tax Insights with Hannah Cole of Sunlight Tax

    SEP 23

    Your Side Hustle Really Is a Business and Other Tax Insights with Hannah Cole of Sunlight Tax

    In this episode, Emily interviews Hannah Cole, an artist and the founder of Sunlight Tax. Sunlight Tax primarily serves artists and creatives in their business tax needs, but there are many overlaps between artists and the academic community. Hannah and Emily discuss the best practices and insights that graduate students, postdocs, and PhDs with side businesses need to stay on the IRS's good side. Hannah clarifies exactly when a business starts, the first step you must take with your finances, and how to calculate and pay your additional tax liability.

    47 min
  7. This Grad Student Puts Half Her Stipend Paycheck into High-Yield Savings

    SEP 9

    This Grad Student Puts Half Her Stipend Paycheck into High-Yield Savings

    In this episode, Emily interviews Maggie Canady, a rising second-year grad student at the University of California at Irvine, on her budget breakdown. Maggie gives us a peek into her life via her top five expenses each month, which are rent, car insurance, groceries, utilities, and travel. Despite taking a pay cut when she started grad school, Maggie maintains close to a 50% savings rate on her stipend. Maggie and Emily end their conversation by discussing how Maggie can get started with passive investing.

    44 min
  8. Investing 101 for Your Post-PhD Job

    AUG 26

    Investing 101 for Your Post-PhD Job

    In this episode, Emily interviews Dr. Scott Grissom, a full professor of computer science at Grand Valley State University and Certified Financial Planner with Socrates Financial Planning. Scott and Emily talk through the health insurance and retirement benefits options that may be available to PhDs in their first post-PhD jobs. Scott explains the tax benefits of investing via an HSA and/or a 401(k) or 403(b) and the factors that affect the choice of a Roth or traditional option. He also helps the listener overcome potential analysis paralysis by detailing the benefits of a target date retirement account.

    42 min
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5
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47 Ratings

About

As a PhD (in training), you face unique money challenges that stem from your low stipend/salary during your years of graduate school and postdoc training. Listen here for the hard-won financial wisdom of your fellow graduate students, postdocs, and PhDs with Real Jobs. From budgeting and frugality to investing and debt repayment, this podcast is your higher education in personal finance.

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