Money Meets Medicine

Have you ever thought about what legacy you’ll be leaving behind and how money plays a part in that? Lisha and I recently had a conversation with  Dr. Hala Sabry , emergency medicine physician and founder of Physician Moms Group , a private online physicians community made up of over 120,000 physicians. Hala is passionate about helping women physicians fulfill their professional goals and discover...

Recently Lisha and I sat down with Dr. Omar Nije to talk about his experience as a doctor in finance. Dr. Nije’s perspective is unique because he’s both a physician AND a principal, but not in public education. He’s a principal at a venture capitalist firm, which is a world that most physicians I know haven’t been exposed to. Up until about 6 months ago, it was something I didn’t know much about m...

As they say, the only constant in life is change. The same is true when it comes to the resuming of student loan payments this fall. Staying up-to-date on all the relevant information is key to effectively managing your student loans. But the student loan landscape is changing fast. So we’re here to help. Since we last spoke about student loans in July, more important updates to loan terms have be...

According to studies conducted by the American Psychological Association, the number one financial stressor for households is money - personal finance. That makes talking about money with your partner a really important topic for everybody to understand.  Why is talking about money with your partner important? For alignment with your partner  To ensure you’re working towards the same goals  Person...

Did you know that when it comes to investing, keeping it simple often leads to better returns? Keeping it simple is not just my or Lisha’s opinion - studies show that this is a more effective, sustainable way to go about investing. Why? Because it turns out that as humans, we don't like as many choices as we think we do. We take action less often when we feel overwhelmed with choices. Just think o...

For those who have no idea what to do with the upcoming student loan payments restarting, and the millions who will need to enroll in a student loan plan… are you overwhelmed yet? Understandably, a lot of physicians are anxious about how loan terms are going to roll out, what it means for their finances, and how it will affect their lives. As we know, keeping up with the recent loan changes is an...

Whether you’re planning to take a vacation this summer or in the near future, you may be looking for some financially savvy ways to prepare. Lucky for you, one of the secrets of life that I've learned is how to incorporate intentional planning when it comes to personal finances and summer vacation.  That’s what this week’s Money Meets Medicine podcast is all about. Just a few of the topics we’ll c...

We interview Will Flanary, who is perhaps better known by his comedic stage name: Dr. Glaucomflecken. Just a few of the awesome topics we cover in our conversation: Charitable giving Will’s battle with testicular cancer and the time he had a cardiac arrest His thoughts on physician side gigs and residents unionizing … he even shares his biggest personal finance mistake Click here to download the A...

July is the time of year when those in the medical field experience the most transition – whether to your next level of training, moving to a new institution for fellowship or residency, or taking your first job as an attending. It can be overwhelming. Make sure you’re equipped with the right questions to ask to make your job transition less intimidating and stressful. Here are a few financial con...

50% of doctors change jobs in the first 2-4 years of their career, but knowing how to properly handle a job transition is relevant to every physician at every stage of their career. Financial advice for doctors doesn’t often cover this topic, so we’re more than happy to dive into it with you here.  Maybe you’re coming out of your first job in training, maybe you’re an attending changing jobs, or y...

You may have already heard about President Biden’s student loan forgiveness plans, but what does that mean for you? We’re covering those qualifiers today, plus identifying three 2023 dates in particular that really matter for those managing student loan debt. Join us as we walk through those three important dates, what they mean, as well as the potential impact.  Plus: find out how to make sure yo...

Did you know that it's possible to make great financial progress while you spend money on things you enjoy? Yep, you read that right. It might be surprising to hear this in the financial space, but you worked hard to get to where you are. You deserve to enjoy some of the spoils and riches of all of that work that you put in to go through college, medical school, and residency. In the physician fin...

Did you know that as interest rates rise, the value of bonds falls? Should you even care about that? Are bonds a good investment for doctors?  In this episode, we’re tackling these questions and discussing the purpose of bonds in a doctor's portfolio, as well as the nuance of our current high interest environment. Looking for a comprehensive financial platform for doctors, by doctors that will hel...

Maybe you're starting your intern year and you're considering investing as one of your steps in that journey. As July approaches, maybe you’re transitioning as a trainee from an institution or to a new job, you might be asking yourself, “Should I be investing in pre-tax vs Roth?”  It’s a really interesting topic and an important question, especially as interest rates and inflation changes.  When s...

If you’ve ever needed to save up for a wedding, a car, or a home, yet you weren't quite sure about the best way to do it, this episode is for you. There are lots of reasons why you might be thinking about setting up short-term savings (savings you intend to need within 3-5 years).  But figuring out how to save money can be easier said than done. With so many options for investments and money manag...

It often pays to work smarter, not harder, yet many doctors put in more and more hours to make more money in medicine. But is working more always a good idea? I think there are pros and cons to working more shifts in medicine. Personal finance is personal, and you have to assess whether you feel you’re being compensated fairly for the time and energy you put into your work.  If you’re not, you mig...

With inflation and interest rates being what they are, one of the most common questions that we get nowadays is, “Should I invest or pay off debt? What should I be doing with my money?” Everywhere in medicine, inflation has an impact. One of the common areas where this naturally happens a lot is in regards to reimbursement rates and income. Doctors realize, “Hey, I haven't gotten a substantial rai...

Even though we’re self-proclaimed money nerds, it doesn't mean we don't make mistakes.  Physician finance isn’t your run-of-the-mill financial strategy. We have certain exceptions and special circumstances to watch out for. And sometimes even the most seasoned pro can make money mistakes. We’re still human, after all. So let’s normalize the idea that we’ll run into snags and learn new lessons as w...