Finance for Physicians

Taxes! Nobody likes doing them, but it's a necessary evil. The good news? There are ways to minimize them. In fact, there are quite a few! We wanted to end this year's season of the Finance For Physicians podcast with a bang. That's why Daniel Wrenne, Founder of Wrenne Financial, covered tax minimization strategies for this show. If you're interested in learning how to: - How to legally minimize y...

Competent handling of finances is not easy, especially for doctors working 24/7 on the clock. But the truth is that we all have to get good at it. Whether because we have a debt to pay, a family to feed, or to survive the incoming recessions. Our guest today, Dr. Caroline Clerisme specializes in just that with her company Doctors Out Of Debt - helping doctors take a hold of their existing debt and...

In previous episodes, we established the importance of providing your kids good financial education as early as possible. In this episode, we'll talk about how to make it as enjoyable as possible for your children! Our guest today is Will Rainey. Will's story is remarkable because it ties back right into the topic of today's show - he went from working in the big corporate world, advising billion-...

Using finances as a tool to live a more fulfilling and balanced life as a physician IS possible. Today's episode of Finance for Physicians tackles the next level of owning your finances: Passing down good financial education to the next generation - your kids. The guest that'll help us guide you through this important and intimidating objective is David Delisle. David is a born and bred entreprene...

Today's episode is a tough one. We will tackle two of the most important topics in a person's life: Money and parenting. In this episode of "Finance for Physicians", Daniel Wrenne interviews Dr. Adam Broussard and Dr. David Weisenhorn, to dive deeper into the family and money matters that physicians often deal with. Dr. Adam is a practicing pediatric anesthesiologist, husband, father, certified li...

Money: The root of all evil, or at least most misfortune.  It can be easy to fall into this victimhood mindset and assume wealth is bad. But our guest begs to differ.  Jordan Grumet, MD is an ex-internal medicine physician turned podcaster and speaker who made it his mission to create as many purposeful, financially wealthy, and fulfilled medical professionals as possible. On this LIVE episode of...

If you're a medical professional that is struggling financially or trying to pay off student debt, this episode of "Finance for Physicians" is for you! Our guest is Dr. Disha Spath: A first-generation immigrant success story, Disha found herself alongside her husband in a precarious financial situation with a huge debt to pay out after medical school. After living on the fence for a while, Disha a...

If you're in medicine, chances are you have experienced toxic work environments. Toxic work environments are a big problem in any industry, but it's even worse in medicine. Very often, it's the work culture, not the work itself that burns you out. Or at least that was the case with Dr. Lara Hochman. Lara is a family physician who found herself burnt out and out of a job after a stint at an unhealt...

When people talk about marriage and finances, they tend to only focus on the positive and optimistic side of the conversation. However, we have found that studying the potential pitfalls can be just as valuable as narrowing down and focusing on the positive side effects of sharing finances with your significant other. On today's episode of the "Finance For Physicians" podcast, Daniel is joined by...

As physicians, it's easy to feel like there are too many people to help with not enough time. On top of that, most physicians have other responsibilities at home, plus passions they pursue to fill their own buckets. But just because you're extremely busy, doesn't mean you need to sacrifice your joy or risk burning out. That's why we're bringing on a physician with multiple businesses and hobbies t...

Burnout is tough, especially for physicians. But you don't have to be a victim of it. There are ways to combat burnout. It's not this unfixable or unmanageable thing. There are steps you can take. This is why, for this episode, we're interviewing Dr. Sapna Shah-Haque! Dr. Sapna Shah-Haque is a primary care physician who's had numerous battles with burnout, even losing a friend to it, which is part...

Physicians are often associated with burnout. And there's a reason why. There are arguably few professions that rival the stress a physician has to endure throughout their career. But the stress isn't always at the hospital or the private practice. Financial matters can cause distress for physicians, but they can also be the solution. On this episode of the Finance for Physicians podcast, we're go...

We went LIVE with our show, Finance for Physicians! We're over 100 episodes into our podcast, Finance for Physicians, and we've got the chance to learn great lessons together with our audience. But it's time to turn this audience into a community. That's why we did our first LIVE show! For this world premiere, Daniel Wrenne talked about: - What are the key lessons have been from the first 100 epis...

As a doctor, you begin your professional career as a high-income earner. But many people don’t talk about the cost of this achievement. As you know, medicine is a demanding field that requires a lengthy, expensive education and rigorous hours of training. When you spend that much time studying and working, you don’t have the time for side jobs to offset the cost, or the mental space to learn about...

The pandemic in America is starting to look like a memory of hard days gone by, but the effects can still be felt throughout our country. That reason is, probably, why the Biden Administration has decided to extend their Covid 19 Forberances to the end of this year. In this episode of the Finance For Physicians Podcast, Daniel Wrenne will go into detail with Jeff Wenger about the situation surroun...

Does it take you hours and hours to count and track every single expense, every single month? How can you monitor your spending without spending too much time that you do not have and cannot afford to waste?  In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how busy physicians can monitor spending without wasting hours by using a basic system that he developed to ke...

Have you maxed out your 401(k) or 403(b)? What should you do now? There are a lot of different options—what do those look like, what might be a good out, and what to pass on.  In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about  401(k)s and what to do after you max those out. Topics Discussed: Max Contribution Amount: $20,500 for an employed physician Financial Plan: A...

What are some of the behavioral tendencies we all can run into that affect our decision-making, and ultimately cause some big mistakes? What do big areas or behavioral tendencies look like? In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about investing behaviors that will wreck your financial plan. Knowledge and awareness are needed to avoid behavioral finance mistakes....

What do market downturns look like? Understanding what they look like or what they have looked like historically is helpful. We can't predict the future, but we do know what happened in the past in order to navigate better if and when history is repeated. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how market downturns look and feel based on market history and...

If you have been watching the markets lately, like I have, it's gotten a little dicey. It's been a while since we've had volatile downmarkets. What should you do when your investments get shaky? In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about what to do when your investments start tanking. Markets do go up and down. If you've been investing long enough, you realize...

There's a lot of crazy stuff in the news. If you're old enough, you've experienced these crazy times before. The investment markets' economies go up and down. These kinds of things happen. With all the craziness going on in the markets and the world, what news—financial or otherwise—are you concerned about? In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how to mak...

What are pros and cons of physician mortgage loans? What do you need to know before taking one out, especially during a crazy market and changing rates causing sticker shock? In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Doug Crouse, mortgage lender that specializes in physician loans and author of Hippocratic House: Do No Harm When Purchasing Your First Physician H...

Are you stressed out about inflation? There's no reason to worry. It's better to focus on what you have control over and apply it to your situation. If changes need to be made, start making some good changes. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about what you should do about inflation, your concerns, and your assets. Topics Discussed: Inflation: What is it, w...

What’s your perspective on money? Do you view it as a tool? Do you know how to use that tool? Is it like a hammer that you use to build a house, murder somebody, or that sits on the shelf and collects dust? In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about using money as a tool and what happens when people don't view money as a tool. Topics Discussed: Money Spectrum:...

What is one of the best opportunities you have to take back control of your professional life and avoid burnout from happening? Physician entrepreneurship. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Dr. Myrdalis Diaz-Ramirez about how to get started as a physician entrepreneur. Dr. Díaz-Ramírez is a fellowship-trained, board-certified pain medicine physician and...