A Clean Bill of Wealth with Galen Nuttall

What does it mean to live a truly fulfilling life as a physician, and how does money fit into that picture? In this week's episode of A Clean Bill of Wealth, I sat down with Dr. Yatin Chadha, radiologist and host of the Beyond MD podcast, to talk about the intersection of life and finances for physicians. Yatin has created over 100 episodes exploring what it means to thrive in and beyond medicine,...

When it comes to money, most physicians focus on the numbers: income, debt, investments, retirement savings. But what if the real driver of financial success is not the math at all? In this week’s episode of Clean Bill of Wealth, I sat down with Dr. Bonnie Koo, physician, certified life coach, and founder of Wealthy Mom MD, to talk about how mindset shapes your financial life, especially for women...

HOOPP here it is! Attention Ontario* Physicians!  You can now join HOOPP (Healthcare of Ontario Pension Plan)! That may sound exciting, but you might have lots of questions like... What makes HOOPP different from other retirement plans? How does HOOPP’s defined benefit pension work? How do HOOPP benefits impact your overall retirement planning? In this episode, we dive into the Healthcare of Ontar...

The clock is ticking for the changes to capital gains to take effect. The window is also closing to do anything proactively about it before the changes occur. I sat down with Hemal Balsara, Head of Tax, Retirement, and Estate Planning, Individual Insurance, Manulife for this episode to get to the bottom of the changes. Hemal was part of a group invited to a closed-door meeting for the first viewin...

The Budget! You've likely heard about the proposed tax changes in the 2024 federal budget and how they could impact your financial future, especially regarding capital gains within your corporation. Since I was fielding so many questions and clarifying misconceptions about the change, I decided to make this podcast episode and a whiteboard video where I delve deeper into these changes and offer in...

Are you collecting products or do you have a plan?  A lot of physicians I meet have picked up different financial things along the way: investment accounts, insurance products, corporate investment accounts, maybe income properties, and more. There's nothing wrong with this approach, but the two questions I commonly get from physicians after they have gathered a number of these components is:" "do...

I've recently had some lengthy conversations with physicians about whole life insurance. It dawned on me that for all the information out there about this sometimes polarizing product, many people are poised to make what I consider the most expensive mistake... buying something they don't need. Now, I'm not saying that no one needs whole life insurance, nor am I saying everyone needs it. What I co...

This episode is different. It's only my second solo episode, with many more to come. It's a topic close to my heart: helping people who are confused about their finances. Have you ever felt like everyone else has it all figured out when it comes to money? Do you feel like there must be something wrong with you if you haven't been able to make sense of your options? Do you struggle to find the time...

Dr. Vollrath saw a problem. No cohesive system for doctors to find or post jobs. He saw scattered conversations across forums, Facebook, and WhatsApp and figured he could do something about it.  So he co-founded Cherry Health, Canada's Medical Network where more than 2,000 monthly job seekers and over 1,300 employers post and look for their next job or locum opportunity.  Join me and listen in to...

"She's some sort of superhero." That's the first thing that popped into my head when I started following Dr. Pandya on social media.  She's an aquanaut, scientist-astronaut candidate, skydiver, and practices medicine in rural Alberta.  The cool thing is Shawna is eager to share what she's learned by pursuing her passions and the approach to resilience and building support structures that has allow...

It's top of mind for anyone with a mortgage or anyone about to get one: "What can I do about interest rates?" For a long time we saw rates dropping then staying fairly stable. Now rates have gone up quickly and don't show any sign of dropping.  Until I spoke with Carlin I figured there's nothing anyone can do about it, but I was wrong.  Carlin is a mortgage broker with access to over 50 lenders an...

I read a lot of books about finance and hands down, Dr. Akintade has written a must-read book, especially for female physicians.  Done with Broke: The Woman Physician's Guide to More Money and Less Hustle.  It's filled with anecdotes as well as research around successful paths to building wealth.  My copy is covered in highlighter because there are so many gems about topics that are top of mind fo...

Eve Rodsky wrote a book called 'Fair Play' that completely changed my life. After I read it, I realized I was not pulling my fair share of work around the house. It led me to make some serious changes to bring a balance to the workload in our household. As much as I hate to admit it, I also realized I didn't value my wife's time as much as mine. In this episode, I go into why I was unconsciously h...

Dr. Matt Poyner is a physician who empowered himself around his finances and is now doing the same for other physicians. He also took a year off with his wife and four children, travelled the world, and blogged about it, which is really amazing.  Part of how Dr. Poyner helps physicians is to help them clarify their financial path forward, one of the big questions he gets is "Should I become a DIY...

What relationship do you have with the longest ‘four letter word’ in financial planning? Of course, I’m talking about ‘budgeting’. I had never done an episode about cash flow, and when I met Sunny, I realized she is the perfect person for this episode, because she makes it fun. Sunny is a zero-judgement financial planner who rolls up her sleeves and digs deep into real money talk. In this episode...

When I first came across Dr. Mark Soth's website: https://www.looniedoctor.ca/ I was blown away by the amount of content created by just one guy.  In case you haven't heard of The Loonie Doctor, Dr. Soth is a mid-career academic ICU doctor. He has been helping Canadian physicians and other high-income professionals to not get hosed (nor be hosers, eh) with their time and money since 2017.  He's go...

Welcome to my first solo episode! I talk about why traditional financial planning does not work for Canadian physicians.  I have a private Facebook group specifically for Canadian Physicians and I opened up a poll in there asking which concepts people wanted me to cover.  The ones that rose to the top were - Paying off debt or investing - How to make the most of my corporation - Whole life versus...

I'll admit that often times get stuck in a trap around time. That I don't have enough for the things that matter most to me. But... I also wonder... "Well isn't that the way it has to be?" Thankfully Dr. Gallie is a masterful life coach and in this episode she'll help you start to crack the code on how to shift the story around time.  Annie is a practicing physician with a passion to help high ach...

Exactly one year ago a good friend of mine said "Galen it's great that you're creating all these resources for physicians, but what about the spouses and partners of physicians, how do you support us?" That conversation planted the seed in my brain that led to this podcast episode and the upcoming event on August 14th for physicians and their significant others.  Let me introduce Sara, who is a ma...

The Tyrant, the Artist, the Warrior, the Wizard... Which money archetype best describes you? Brenda St. Louis believes that every person has a money archetype that shapes the way they relate to money. She helps people discover theirs and then use that knowledge to empower them to make better money decisions. Brenda St. Louis is an Accredited Financial Counselor, Financial Therapist, Certified Mone...

One day Dr. Tran had a brutal wake up call around his finances. He took a look at his portfolio and saw it had been languishing for a decade, not even keeping up with inflation.  Done with the hands-off approach, he decided to educate himself around all things finance and dive deep into the reality of physician financial planning and corporations.  Out of this self-discovery he created the podcast...

I had a flat-out amazing conversation with Dr. Wing Lim about practice transformation, finances, and peer support all for physicians.  Dr. Wing Lim is a family physician based out of Western Canada and co-founder of Physician Empowerment, a group of physicians out to enhance the lives of doctors across Canada with their financial literacy, practice transformation, and coaching programs.  In this i...

The doctor so nice, I had to interview him twice.  Dr. Mailo is an emergency physician based out of Edmonton, Alberta, the founder of Physician Empowerment, and an all-around great guy.  In this episode we talk about key things Dr. Mailo has learned from working with physicians and providing them with a financial education for the past many years.  We talk about examples of 'million dollar convers...

This was an episode a long time in the making and just in time for our upcoming Webinar about Real Estate Investing for Busy Physicians, coming up on March 5th at 10am EST.  Click here to register: https://www.galenhelpsdocs.com/real-estate Join me and Dr. Mailo as we explore physician empowerment, financial literacy, real estate and sleeping better at night and providing better care to patients v...

Check out this amazing conversation with Dr. Stephanie Zhou where she shares loads of what she's learned about finance for physicians as well as much more.  In this episode we talk about:  - Financial literacy for physicians - Intergenerational wealth among immigrant families - Equity, Diversity, Inclusion, and Belonging research Dr. Zhou practices Addictions Medicine at Sunnybrook Hospital and is...