M Advisor Podcast: Financial Clarity for Physicians

Sometimes the simplest things are the most difficult. Being content in our lives is one of these simple, yet difficult things. Whether it be from gratitude or internal fulfillment, being content with yourself, your life, and your circumstances can be an advantage to your future, both from a happiness perspective as well as a financial standpoint.

Are we helping our kids too much, too little, or just right as they transition from teenager to adults. While we want our kids to become independent, productive adults, how we intervene teaches them to be dependent or independent. Helping too much can negatively shape their opinion on effort and hard work, but so can helping too little. Striking a balance of support and communicating expectations...

Is your spending frugal or wasteful? What's the difference, and how do you know? In this episode we explore the differences between frugal and wasteful spending and how it impacts your finances and the earth.

What's more impactful than sharing free time with your kids? Could discovering a hobby (together) be one of the most lasting gifts you give to your children? How do you go about finding a hobby? Let's chat about it!

With home-buying season approaching and tax season just ending, I thought it'd be appropriate to review what mortgage interest is deductible on your personal tax return. Understanding this concept can greatly impact your planning when shopping for home, preparing for your mortgage, or planning around your current mortgage. This should not be construed as tax advice. Please consult a qualified tax...

Referencing the book "Your Money" by Carl Richards, I discuss the four sources of capital (sketch #6), Money, Energy, Time, and Attention. I key in on attention, and chat about what that actually means. Who do we "pay" when we pay attention? And what's our attention worth? This is a cool book. I receive no commission for the book sales. Check it out: https://www.amazon.com/dp/1804091715/?bestForma...

A quick template on how to evaluate and move your finances to the next level. Know where you are: Create a Balance Sheet List your goals and priorities List your procrastinations - this is big Manage how you talk to yourself about money - this is bigger Resources: https://podcasts.apple.com/us/podcast/improve-your-finances-create-a-balance-sheet/id1613405436?i=1000743276123 https://www.m-advisor.c...

Roth vs Traditional retirement plan contributions is a great debate and should be considered carefully. There isn't a clear-cut answer that works for everyone, but there are benefits to both Roth and Traditional retirement plan contributions. Here is an article mentioned in this podcast that details a similar topic: https://www.m-advisor.com/blog/retirement-plan-contributions-traditional-vs-roth-u...

Finding the right financial advisor can be one of the most beneficial relationships you can make, as it can bring clarity and confidence to your financial life; however, selecting the wrong advisor can waste years of savings and put you behind on your financial goals. Here are a few tips before interviewing a financial advisor to make sure you find that right one. Be sure to download the checklist...

What is the most romantic gesture you can make to your spouse and family? Planning for their lives and livelihood beyond yourself, of course! That's called estate planning. Estate planning is not just a financial topic, it's a selfless action to ensure your loved one's future, even without you there.

Financial fraud is a multi-billion-dollar industry, and it is much bigger than we think because many fraudulent cases go unreported. Talking to your family about fraud and scams is an important conversation that can help you prepare for a potential attack. Fraudsters play on emotions, so think through what's going on if you get an unfamiliar call. The 2025 data is not yet released, but here is the...

Physical fitness and finances are interwoven in deeper patterns and occurrences than we ordinarily recognize. As the new year brings positive changes to our fitness routines, here's some motivation on the connections between our health and our wealth.

Making positive changes to our lives each New Year isn't anything new. If you're looking to positively change your finances, this is the first thing: Create a Balance Sheet and track your "Net Worth." This simple task may be the key to help make your finances improve year over year. Video referenced in the show: What is a Balance Sheet? https://youtu.be/-YxzJuyoFFU

Family financial meetings are a tool used by many high profile and high net worth families to make sure massive wealth doesn't erode family values. I think the family financial meeting translates to a much broader audience to intentionally verbalize and pass on family culture, stories, and values, as well as preserve open communication about how the family financial plan is structured.

Roth IRAs, due to their tax-free growth and tax-free distributions, can be useful accounts for any financial plan. The IRS has rules about who can fund Roth IRAs; however, there is a loophole that allows some high income earners to fund Roth IRAs indirectly. This loophole is commonly referred to a "Backdoor Roth" contribution. The IRS has a rule that makes it difficult to fund backdoor Roth IRAs i...

This is my conversation with Dr. Kevin Pho when I had the opportunity to speak on KevinMD. The conversation is based on this article: https://kevinmd.com/2025/08/physician-practice-ownership-risks-rewards-and-reality.html

Explore and review the most common benefits associated with hospital employees. I'll frame each benefit with how I help other physicians make benefit enrollment decisions. Remember to always enroll in your benefits with your current financial plan in mind! Here is a guide to hospital benefits enrollment, based on the information in this podcast: https://www.m-advisor.com/blog/a-guide-to-hospital-b...

What if you make a plan, and it doesn't work? There may be nothing spookier than that! The results of a plan not working can be catastrophic, leading to family division for generations. Don't let this happen to you! Learn how to avoid pitfalls in your financial plan. Here are three spooky reasons your plan won't work!

This episode explores a goal-setting exercise that's a great checkpoint for review and evaluation on the trajectory of our lives. You are currently the midpoint between the "past you" who wanted to achieve a career in medicine and a "future you" who is an ideal or refined version of this current you. Comparing these two people is a great way to explore your values, your accomplishments, and the di...

As parents, we are all willing to support our kids. As our kids grow up, they'll need some support, both emotionally and financially. Sometimes financial support for adult children can create a sort of financial enablement where the "child" is unable or unwilling to take care of their own responsibilities. This can put the parents' finances in a tough spot as well as create division in family rela...

So I was reading "Start with Why" by Simon Sinek, and there's a moment in the book where Simon gets to attend a conference with select business leaders, and the conference began with these two questions: "Raise your hand if you have reached many or all of your financial goals." "And Raise your hand if you feel successful." (and many of the hands went down). I wondered how this would apply to physi...

I ran across a thoughtful quote credited to Confucius, and it made me think about it from several different angles. The quote is this: "We have two lives, and the second begins when we realize we only have one." This podcast examines this quote from a financial planning perspective and a bit beyond. Enjoy this episode, and maybe you can examine it from different angles in your own life, too!

For most physicians, purchasing disability insurance is an easy decision; however, there is one investment that disability insurance companies do not support. Wait, do your investments and disability insurance policies coincide? To some degree, yes. Here I give an example and explore a potential blind spot in doctor's income protection: unearned income.

Some investment assets warrant the formation of a holding company, usually for liability purposes. Real estate, private equity, and franchise agreements are great examples of these assets. Learn how a physician may structure a holding company, and let's take a deep dive into how it works.

We leave a different kind of legacy in various aspects of our lives. We leave a legacy for our spouses, our kids, and our clinics, among others. We'll explore some of the conversations and experiences that impact our legacy.