58 episodes

The Physicians Financial Checkup is a podcast for medical professionals who want to achieve financial freedom.  In each weekly episode, we cover a variety of financial topics that are important to physicians, dentists, nurses, and other healthcare professionals, such as:Budgets & Debt Management: Simplify your budget and get out of debt.Retirement Planning & Savings Strategies: How much should I be saving and how?  What are the best retirement accounts for medical professionals?Tax Planning: How to minimize your tax liabilityEstate Planning: How to protect your assets and your loved ones.And much much more...If you're a healthcare professional who wants to take control of your finances, then the Physicians Financial Checkup is the podcast for you.  Subscribe today and start your journey to financial freedom!For more information check out https://www.brentboden.com/

Physicians Financial Checkup Podcast Brent Boden

    • Business
    • 5.0 • 5 Ratings

The Physicians Financial Checkup is a podcast for medical professionals who want to achieve financial freedom.  In each weekly episode, we cover a variety of financial topics that are important to physicians, dentists, nurses, and other healthcare professionals, such as:Budgets & Debt Management: Simplify your budget and get out of debt.Retirement Planning & Savings Strategies: How much should I be saving and how?  What are the best retirement accounts for medical professionals?Tax Planning: How to minimize your tax liabilityEstate Planning: How to protect your assets and your loved ones.And much much more...If you're a healthcare professional who wants to take control of your finances, then the Physicians Financial Checkup is the podcast for you.  Subscribe today and start your journey to financial freedom!For more information check out https://www.brentboden.com/

    Episode 57: Mid-Year Financial Checkup

    Episode 57: Mid-Year Financial Checkup

    Welcome to Episode 57 of the Physicians Financial Checkup Podcast hosted by Brent Boden, Certified Financial Planner. In this episode, we dive deep into the essential mid-year financial checkup. This critical practice can help you track your progress, identify issues, and adjust your plans to ensure you're on the right path to achieving your financial goals for 2024 and beyond.
    Important Considerations for a Mid-Year Financial Checkup
    A mid-year financial checkup involves three crucial steps: tracking progress, identifying issues, and adjusting plans. By following these steps, you can stay on top of your financial health and make any necessary changes to stay on course.
    Steps for a Mid-Year Financial Checkup
    Review Your BudgetAssess your income and expenses over the past six months. Identify any areas where you may have overspent or underspent. Adjust your budget as needed to stay on track for the rest of the year.Assess Your SavingsEvaluate your progress towards your savings goals, whether it's for an emergency fund, retirement, or a big purchase. Ensure you're contributing enough to meet your targets by the end of the year.Debt ManagementReview your debt repayment strategy. Make sure you're on schedule with your payments and consider making extra payments if possible. Explore options to refinance or consolidate debt if it benefits your financial situation.Investment PortfolioExamine the performance of your investments. Determine if your portfolio needs rebalancing to maintain your desired asset allocation. Consider if any changes in your life or financial goals necessitate adjustments in your investment strategy.Insurance CoverageCheck if you have adequate coverage for health, life, disability, and property insurance. Make any necessary updates to your policies to ensure comprehensive protection.Tax SituationEstimate your tax liability for the year. Adjust your withholdings if necessary to avoid a large tax bill or refund. Consider tax-saving strategies to minimize your liability.
    Setting Goals for the Second Half of the Year
    Define Clear ObjectivesSet specific, measurable goals for what you want to achieve by the end of the year. Prioritize your goals to focus on what matters most.Create A PlanOutline actionable steps to reach your objectives. Break down your goals into smaller, manageable tasks to stay organized and motivated.Stay AccountableRegularly review your progress towards your goals. Schedule monthly check-ins to stay on track and make adjustments as needed.Celebrate MilestonesAcknowledge and reward yourself for achieving key milestones. Celebrating progress keeps you motivated and focused on your long-term goals.
    Preparing for 2025
    Start planning for the next year by evaluating your long-term financial goals. Consider any upcoming major expenses or life changes that may impact your financial situation. Set a strong foundation for 2025 by making any necessary adjustments now.
    Conclusion
    Join us for this informative episode as we guide you through the steps of a mid-year financial checkup. Taking these steps now will help you stay on track, make necessary adjustments, and set yourself up for success in 2025.
    For a complimentary consultation, visit BrentBoden.com.
    Don't forget to subscribe to the Physicians Financial Checkup Podcast and leave a comment with your personal finance questions or topics you'd like us to cover. Stay financially healthy and let’s crush those goals together!

    • 13 min
    Episode 56: Maximize Your Cash - Savings Strategies for 2024

    Episode 56: Maximize Your Cash - Savings Strategies for 2024

    Welcome to Episode 56 of the Physicians Financial Checkup Podcast! I'm your host, Brent Boden, Certified Financial Planner. In this episode, we're tackling one of the most pressing financial issues of 2024: maximizing your cash savings. With interest rates on the rise, it's more important than ever to ensure your hard-earned money is working for you. Join us as we explore effective strategies to make the most of your cash.
    1. The Current Cash Conundrum
    We'll begin by discussing the current cash conundrum many people are facing. Despite rising interest rates, significant amounts of cash are still sitting in low-interest accounts. Understand the impact of this financial inertia and why it's crucial to take action now.
    2. Best Opportunities for Higher Interest Rates
    Next, we'll dive into the best opportunities for higher interest rates available in 2024. From online savings accounts to money market funds, discover where you can park your cash to earn more. We'll provide specific examples and compare the top options to help you make informed decisions.- Flourish Cash 5% with up to $10M FDIC Insurance (Schedule To Discuss More)-SoFI Savings 4.6%-CapitalOne 4.2%
    3. Ideal Uses for High-Yield Cash Accounts
    High-yield cash accounts are excellent tools for managing various financial goals. We'll discuss ideal uses for these accounts, including building emergency funds, saving for a home down payment, planning for vacations, and other short-term goals. Learn how to align your savings strategies with your financial objectives.
    4. Missed Cash Opportunities
    Many individuals miss out on potential earnings by keeping their money in traditional bank accounts. We'll illustrate the cost of these missed opportunities by comparing the difference in earnings between accounts paying 0% interest and those offering up to 5%. See how much you could be losing and why it's essential to make a change.
    5. FDIC Insurance and Accessibility
    Safety and accessibility are critical when choosing where to save your cash. We'll explain the importance of FDIC insurance and highlight accounts that offer both high interest rates and easy access to your money. Banks like Flourish Cash, SoFi, and Capital One Bank provide excellent options with robust protections and great rates.
    6. Alternative Safe Cash Vehicles
    In addition to traditional high-yield accounts, we'll explore alternative safe cash vehicles such as Treasury Bills, short-term bond funds, and certificates of deposit (CDs). These options can provide competitive returns while maintaining a low risk profile.
    SUBSCRIBE FOR MORE FINANCIAL INSIGHTS TODAY!
    Stop leaving your hard-earned cash on the sidelines. Tune in to Episode 56 of the Physicians Financial Checkup Podcast to learn how you can maximize your savings in 2024. Subscribe and leave a comment today! If you have questions about your personal finances or need tailored advice, schedule a complimentary consultation with Brent Boden and take the first step towards financial freedom.

    • 14 min
    Episode 55: Wealth Building Strategies for Every State of Your Medical Professional Career

    Episode 55: Wealth Building Strategies for Every State of Your Medical Professional Career

    Wealth Building Strategies at Every Stage of Your Medical Professional Career
    Welcome to Episode 55 of the Physicians Financial Checkup Podcast! I'm your host, Brent Boden, Certified Financial Planner. In this episode, we're diving deep into wealth-building strategies tailored for every stage of your medical career, from residency to retirement. No matter where you are in your professional journey, this episode is packed with valuable insights to help you maximize your financial potential.
    1. Tips for the Early Hustle with Residents and Fellows
    Starting with the fundamentals, we’ll discuss practical financial tips for residents and fellows who are just beginning their medical careers. Learn how to manage student loans, create a budget, and start investing with limited resources. Discover how to make the most of your early earnings and set the foundation for long-term financial success.
    2. Building Momentum Strategies for Young Attendings
    As you transition from training to practicing, your financial landscape changes significantly. We’ll cover strategies for young attendings to build momentum in wealth accumulation. Topics include increasing savings, optimizing debt repayment, and making smart investment choices to leverage your growing income.
    3. Growing the Nest Egg for Mid-Career Doctors
    For mid-career doctors, it's crucial to grow and protect your wealth. We’ll explore advanced strategies for building your nest egg, such as maximizing retirement contributions, diversifying your investment portfolio, and planning for major life events like purchasing a home or funding your children’s education.
    4. Planning for Retirement and Beyond for Established Physicians and Retirees
    As you approach retirement, your focus shifts to preserving your wealth and planning for a comfortable future. We’ll discuss retirement planning strategies, including optimizing your retirement accounts, managing healthcare costs, and creating a sustainable withdrawal strategy. Learn how to ensure your financial security and leave a legacy for your loved ones.
    Join us for this comprehensive episode that provides tailored advice for each stage of your medical career. Whether you’re just starting out or enjoying your retirement, these wealth-building strategies will help you achieve your financial goals.
    Next Steps
    Be sure to check out this and other episodes of the Physicians Financial Checkup Podcast. Subscribe and leave a comment today! Have questions about your personal finances? Schedule a complimentary consultation with Brent Boden and take the first step towards financial freedom.
    Hashtags
    #WealthBuilding #FinancialPlanning #MedicalProfessionals #PhysiciansFinancialCheckup #ResidentLife #YoungAttendings #MidCareerDoctors #RetirementPlanning #FinancialFreedom

    • 18 min
    Episode 54: Roth and Other Tax Efficient Retirement Strategies

    Episode 54: Roth and Other Tax Efficient Retirement Strategies

    Welcome to Episode 54 of the Physicians Financial Checkup Podcast, hosted by Brent Boden, Certified Financial Planner. In this comprehensive episode, we delve into a variety of tax-efficient retirement strategies designed to help you maximize your savings and secure your financial future.
    Key Topics Covered:
    Roth IRA, Roth 401(k)/403(b), Backdoor Roth, and Mega Backdoor Roth StrategiesRoth IRA: Learn about the benefits of Roth IRAs, including tax-free growth and withdrawals, and how they can play a crucial role in your retirement planning.Roth 401(k) and 403(b): Understand how Roth 401(k) and 403(b) accounts offer tax-free withdrawals in retirement and the advantages they provide over traditional accounts.Backdoor Roth: Discover how high-income earners can use the backdoor Roth strategy to contribute to a Roth IRA despite income limits.Mega Backdoor Roth: Explore the powerful Mega Backdoor Roth strategy that allows for significant after-tax contributions to a 401(k), which can then be converted to a Roth IRA or Roth 401(k).Alternative Tax-Efficient Investment StrategiesETFs: Find out how Exchange-Traded Funds (ETFs) can be a tax-efficient investment option due to their low turnover rates and in-kind creation and redemption process.Municipal Bonds: Learn about the tax advantages of investing in municipal bonds, which offer tax-free interest income at the federal level, and often at the state and local levels.Tax Loss Harvesting: Understand the concept of tax loss harvesting in your non-qualified brokerage account to offset capital gains and reduce your taxable income.Health Savings Accounts (HSAs): Discover the triple tax benefits of Health Savings Accounts, where contributions are tax-deductible, growth is tax-free, and withdrawals for qualified medical expenses are tax-free.Life Insurance Retirement Plans (LIRPs): Explore Life Insurance Retirement Plans and how they can provide tax-free income in retirement while offering life insurance benefits.Business Investment Strategies to Grow WealthSIMPLE IRAs and SEP IRAs: Learn about the advantages of SIMPLE IRAs and SEP IRAs for small business owners and self-employed individuals, offering tax-deferred growth and high contribution limits.Solo 401(k)s: Understand the benefits of Solo 401(k) plans for solo entrepreneurs and small business owners, including high contribution limits and flexible investment options.Business Real Estate: Explore how investing in business real estate can provide tax benefits and long-term wealth accumulation.Other Business Ventures: Discover additional business investment opportunities that can help diversify your portfolio and grow your wealth.
    Join us for this enlightening episode as we cover these vital topics and provide actionable insights to enhance your retirement strategy. Be sure to check out this and other episodes of the Physicians Financial Checkup Podcast. Subscribe and leave a comment today!
    #TaxEfficientInvesting #RothIRA #FinancialPlanning #PhysiciansFinancialCheckup #RetirementStrategies #HighIncomeEarners #WealthManagement #InvestSmart #HealthSavingsAccounts #BusinessInvestments
    Tune in now to master the art of tax-efficient investing and secure your financial future!

    • 18 min
    Episode 53 - Unveiling the World of Alternative Investments

    Episode 53 - Unveiling the World of Alternative Investments

    Welcome to Episode 53 of the Physicians Financial Checkup Podcast, hosted by Brent Boden, CFP. In this episode, we dive deep into the fascinating world of alternative investments, exploring how they can diversify your portfolio and potentially enhance your returns. Whether you're a seasoned investor or just starting out, this episode provides valuable insights tailored for high earners and medical professionals.
    Key Topics Covered:
    Beyond the Basics: What are Alternative Investments?Gain a clear understanding of what alternative investments are and how they differ from traditional assets like stocks and bonds. We break down the types of alternatives, including real estate, private equity, hedge funds, commodities, and more.Diversification Powerhouse: Why Consider Alternatives?Discover the benefits of incorporating alternative investments into your portfolio. Learn how these assets can reduce risk, improve returns, and provide a hedge against market volatility.Exploring the Alternatives LandscapeTake a tour of the alternative investment landscape. We explore various types of alternatives, their unique characteristics, and potential opportunities they offer to investors.Weighing the Risks and DrawbacksIt's essential to understand the risks involved with alternative investments. We discuss the potential downsides, including liquidity issues, higher fees, and regulatory concerns, to help you make informed decisions.Taking the Leap with CautionReady to dive into alternative investments? We provide practical tips on how to get started, from selecting the right assets to finding reputable investment managers. Learn how to approach these investments with caution and due diligence.
    Conclusion:As we wrap up this episode, we invite you to take advantage of a free complimentary financial assessment appointment with Brent Boden, CFP. Click the link in the description to schedule your session and start your journey towards a more diversified and resilient investment portfolio.
    Be sure to subscribe to the Physicians Financial Checkup Podcast and leave a comment with any personal finance questions you’d like us to address in future episodes. Your feedback helps us tailor our content to your needs.
    Tune in now to uncover the world of alternative investments and take your financial strategy to the next level!

    • 19 min
    Episode 52 - Investing Tips for High Earners

    Episode 52 - Investing Tips for High Earners

    Welcome to Episode 52 of the Physicians Financial Checkup Podcast, hosted by Brent Boden, CFP. In this insightful episode, we focus on providing high earners, especially medical professionals, with expert investing tips to maximize their financial potential. Ready to take charge of your financial future? 🎯 Get a 15-minute complimentary consultation with Brent! Whether it's about investments, retirement, or any personal finance questions, Brent is here to help. Schedule your session today and start your journey to financial wellness!Dive into these four essential topics:
    Building Your Investment Foundation:Learn the fundamental principles of investing, tailored for high earners. Understand how to create a strong investment base that aligns with your financial goals and risk tolerance.Wealth Accumulation Strategies:Explore advanced strategies for accumulating wealth. Discover how to leverage your high income to build substantial financial assets through diversified investments and smart financial planning.Optimizing Your Portfolio for Retirement:Find out how to optimize your investment portfolio to ensure a comfortable and secure retirement. Gain insights on asset allocation, risk management, and long-term planning to achieve your retirement goals.Taking Action and Getting Help:Learn the importance of taking proactive steps and seeking professional advice. Discover how to implement your investment strategies effectively and where to find the right financial help to guide you along the way.
    Tune in to Episode 52 for actionable investing tips and expert advice tailored specifically for high earners. Subscribe now to the Physicians Financial Checkup Podcast and take control of your financial future today!For more information visit BrentBoden.com
    #InvestingTips #HighEarners #WealthAccumulation #RetirementPlanning #FinancialAdvice #PhysiciansFinancialCheckup

    • 18 min

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