Financial Clarity for Doctors

Get your pen and paper ready!  In today’s episode of Financial Clarity for Doctors, Corey and Rachelle run through various tips for those of you getting by on a trainee’s salary (or maybe even student loans).  You may not be able to make huge strides toward your financial goals before you get that big bump in salary, but you can absolutely put yourself in a good position to hit the ground running...

In the previous episode of Financial Clarity for Doctors, Corey and Rachelle talked about stock performance year-to-date.  Today they unpack one potential part of that decline – the fear of a “recession”.  The dreaded “R” word.  In reality, the stock market and the economy are connected but not the same.  A recession is a measure of the growth (or lack thereof) in the economy, while the stock mark...

Stock market got you down?  In this episode of Financial Clarity for Doctors, Corey and Rachelle chat about how expectations of stock market performance stack up against the reality we deal with from year to year.  How we deal with our expectations can have an impact on how we react to volatility, and therefore how our investments perform long term. In this episode we’ll chat about: The average re...

In this episode of Financial Clarity for Doctors, Corey and Rachelle address one of the questions clients frequently ask them.  How much can we afford to spend on housing?  Whether you are renting or buying, housing costs have increased dramatically and that’s a big part of the overall inflation numbers.  If you locked in a mortgage at a low rate a couple of years ago, you may be sitting pretty, b...

Thanks for listening to Financial Clarity for Doctors everyone!  Everyone loves to talk about the important of diversifying their investments, but in this episode Rachelle and Corey dive into a different way to think about diversification.  Yes, it’s important to make sure we’re not putting all our eggs in one basket (let’s not go all in on one company folks!), but let’s take a minute to think abo...

Thanks for listening to Financial Clarity for Doctors everyone!  In today’s episode your favorite podcast hosts Rachelle Vanderzanden and Corey Janoff speak with Jennifer Wiggins of Aegis Malpractice solutions about all things malpractice insurance.  Don’t miss this one if you work with or own a private practice, you’re looking at new contracts, doing some moonlighting, or thinking about what it m...

Welcome back and thank you for listening to another episode of Financial Clarity for Doctors!  In this episode, Corey and Rachelle chat about one way you can improve your financial situation.  In general, you can either decrease your spending (difficult) or increase your income (maybe less difficult).  Let’s focus on increasing that income! Ways to make more money include: Negotiating – When you t...

Doctor Mortgages w/Casey McLaughlin Welcome back and thank you for listening to another episode of Financial Clarity for Doctors!  In this episode, we chat with Casey McLaughlin of US Bank about all things related to Physician Home Loans aka “Doctor Mortgages”. Including: Are they really any better than conventional loans? Do I pay a higher interest rate? Really important right now! How to shop fo...

In this episode of Financial Clarity for Doctors, Corey and Rachelle discuss what you can do with old retirement accounts! They cover what your options are, from taking a distribution, to rolling the money to your next employer’s retirement plan, or possibly rolling into an IRA, among others.  They’ll address the pros and cons of each choice, as well as your options if you are retiring! You don’t...

Welcome back and thank you for listening to another episode of Financial Clarity for Doctors!   Today we’re going to go against the grain and take a somewhat contrarian approach to the common themes you may see in typical headlines or blog posts.  These opinions may go against what you’ve been told before, or maybe they go under the radar.    In this episode we discuss: Budgets Are Overrated Detai...

Welcome back and thank you for listening to another episode of Financial Clarity for Doctors! Today's episode features special guest Jordan Frey, MD. Also known as, "The Prudent Plastic Surgeon."   In this episode we discuss: Tips to Get Started With Financial Wellbeing Giving Advice to Your Former Self Financial Mistakes to Avoid Expectations Vs Reality Getting Your Spouse Involved   https://thef...

Welcome back and thank you for listening to another episode of Financial Clarity for Doctors! Today we're going to talk about buying your first home.   The process of buying a home can be extremely overwhelming, especially for first time home buyers.  This episode will give you some tips to make the process a little less staggering.   In this episode Corey & Rachelle discuss: Timing Is Everything...

Welcome back and thank you for listening to another episode of Financial Clarity for Doctors! Today we want to talk about the mistakes you shouldn't make in financial planning.   People probably overestimate how badly they can mess up their financial planning.  If you are paying attention and putting resources toward your goals, then you are likely making some good progress.  The fact that you are...

Welcome back and thank you for listening to another episode of Financial Clarity for Doctors! Today we want to talk about trying to time the market and possible strategies for when and how to do it.    We often come across prospective clients who are sitting on cash. Not sure how to go about investing it.  Maybe waiting to invest because the market is at an all time high. Maybe they read an articl...

Welcome back and Happy New Year! Thank you for listening to another episode of Financial Clarity for Doctors!   Public Service Loan Forgiveness has been in the news quite a bit lately, and some of it has been good for a change!  In October of 2021 the Department of Education released new guidance designed to temporarily loosen some of the rules that have made it more difficult to qualify for forgi...

Welcome back and Happy New Year! Thank you for listening to another episode of Financial Clarity for Doctors!   Today we want to talk about simple solutions vs complex solutions.  Sometimes we can’t believe that the best strategy is a simple one.   In this episode Corey & Rachelle discuss: Real Life Examples Investing Examples The Power In Simplicity Using Complexity When Necessary   For more fina...

Welcome back and thank you for listening to another episode of Financial Clarity for Doctors!   Today we want talk about the concept of stealth wealth, i.e., flying under the wealth radar so people don’t realize how wealth you actually are.    In this episode Corey & Rachelle discuss: Stories of Stealth Wealth Keeping Up With The Joneses The Benefits of Stealth Wealth Financial Independence   For...

Welcome back  and thank you for listening to another episode of Financial Clarity for Doctors!   Expect to see a lot of headlines as we close out the year, particularly on the tax side of things with the upcoming changes to the tax code   In this episode Corey & Rachelle discuss: Social Security Headlines Is Social Security Going Bankrupt? Upcoming Tax Law Changes   For more financial planning tip...

Welcome back to another episode of Financial Clarity for Doctors!   Have you ever wondered what happens to your money when it goes into your plan at work if you do NOTHING?  Today we are going to talk about a type of mutual fund commonly referred to as a Target Date Fund or a Lifestyle fund.  They are almost always in your work plans, but you can use them in other accounts as well.   In this episo...

Welcome back to another episode of Financial Clarity for Doctors!   Disability insurance is a hot topic for young doctors.  The most common question we get – Do I need my own policy?  There is a ton of heavy-handed advertising which can make it seem like it’s just a sales ploy, when in reality it is a VERY important part of financial planning.   In this episode Corey & Rachelle discuss: Why You Ne...

Welcome to another episode of Financial Clarity for Doctors!   Today we want to discuss your happiness and satisfaction and how it is largely tied to your expectations.   As a little kid, if you got the present you asked for, you were elated.  If you didn’t, you were disappointed.  The best way to avoid disappointment is properly managing your expectations.   In this episode we will talk about: Do...

Welcome to another episode of Financial Clarity for Doctors!   We spend a lot of time talking about how to make sure you are in a good position to reach your long-term goals.  For most of our clients and listeners, you are in a good position with your career and income trajectory to be able to do that!  You’ve worked hard and you will very likely make a good income!   However, we do talk to a lot...

Welcome to another episode of Financial Clarity for Doctors!  In todays episode we will discuss arguably the most important factor in achieving your long-term financial goals: how much you save.    The more you save, the sooner you’ll get to where you want to go financially.  Basic math.  It will also give you more flexibility and cushion. In this episode we will dive deeper into: Client Success S...

Welcome to another episode of Financial Clarity for Doctors.   In todays episode we will discuss a topic regarding one of the most common requests we get...  Budgeting! Many people only consider their ability to meet their fixed expenses and that is what we want to avoid.  In this episode we will dive deeper into the following: Traditional Budgeting Backwards Budget The Importance of AWARENESS Hou...

Welcome to another episode of Financial Clarity for Doctors.  In today's episode we want to talk about investing.  Specifically, investing towards your specific financial goals.   What would most people say if you asked them, "Why are you invested the way you are?"  We also discuss: Risk Return Objectives Time Horizons Liquidity Needs Income VS Growth ESG Investing   For more financial planning ti...