PA the FI Way

Have you ever thought about monetizing your passions within medicine or without? Have you considered transitioning out of medicine altogether? Or have you ever thought about becoming a digital nomad and traveling the world? If you answered "yes" to any of these questions, you have to take a listen to this conversation with Chelsea!  Dr. Chelsea Turgeon  is an MD trained career coach, bes...

This episode covers red flags and green flags to look for in physician assistant / physician associate jobs. The red flags can help you identify which jobs to avoid or to transition away from, and the green flags can help you identify which jobs would be great to accept or identify when you're in a great PA role.      Questions or feedback? Email  pathefiway@gmail.com   Ar...

In this episode, we're tackling a common challenge that many face: impulsive spending. Whether it's that tempting impulsive online purchase or the spontaneous splurge at the mall, impulsive spending can wreak havoc on our financial goals and leave us feeling frustrated and stressed. But I've got you covered with 10 practical tips to help you reduce those impulse purchases and take control of...

Colleen Sloan, PA-C, RDN joins me on the show to share her wealth of knowledge that she has as a Registered Dietitian and PA. Colleen provides several wonderful tips to help you save both time and money as a busy  healthcare professional that is trying to make nutritious meals for yourself and your family. Join us as we discuss practical strategies, time-saving tips for me...

Do you earn a six-figure salary, but wonder where in the world your money is going because you're still living paycheck to paycheck? Here are 10 reasons why high earners are still often living paycheck to paycheck as well as some tips for what you can do to get out of that cycle.    If you need some guidance on your financial journey, reach out to me about coaching opportunities thr...

Are you married or in a serious relationship? Listen to learn the surprising benefits and drawbacks to both separate and joint bank accounts for married couples.  Interestingly, some studies (linked below) have shown that couples that have joint accounts may be happier in their marriages and have stronger relationships. However, this may not be the best option for every couple, and some may f...

In this episode, we cover the debated question of whether you should contribute to Roth retirement accounts (such as a Roth IRA or Roth 401K) or traditional retirement accounts (such as a traditional IRA or a traditional 401K)? You'll see that the answer to that question is both simple on the surface, yet more complex once you dive a bit deeper.    If you need some guidance on your...

Lauren is a physician associate, and she and her husband have been investing in real estate for a few years in addition to her continuing to practice clinically as a PA. They have long term rentals (LTRs) and recently started a short term rental (STR) . Their rental portfolio includes duplexes and single family homes. Lauren shares how the decisions they have made on their way to financial indepen...

In today's episode, my sister who works in the dental field as a LDA (licensed dental assistant) joins me on the show to share about our recent joint medical and dental mission trip to Honduras. It's important to think about how you will want to spend your time once you reach financial independence, and you should test those ideas out before you even get there. You may decide to try to give b...

A HELOC, aka Home Equity Line of Credit, might be a helpful financial tool for you. However, there are several pros and cons of HELOCs to consider prior to opening one. Take a listen to learn what a HELOC is, the pros and cons of opening a HELOC, and some ideas of what you could use a HELOC for, including some that could help you build wealth.    If you're ready to get started...

In today's PA the FI Way podcast episode, we will explore the 5 types of FIRE:  1. Traditional FIRE: This method is for you if you're pursuing financial independence (FI) with the option to retire early (RE) after  investing until you accumulate enough wealth to sustain your lifestyle without relying on traditional employment. Typically, this means reaching a savings goal of 25 time...

If you regularly tune into the PA the FI Way podcast, you likely have had the thought about becoming a business owner or starting a side hustle. In this episode, we're diving into the 25 benefits of becoming a business owner and taking the entrepreneurial leap. We will review how owning a business can offer the potential for independence, flexibility, autonomy, wealth-building opportunities,...

With student loan interest starting to accrue again this month and student loan payments resuming next month, this is the student loan podcast episode you’ve been waiting for! Andrew Paulson, CSLP, who is a student loan expert, is with Student Loan Advice, a trusted White Coat Investor company. Andrew joins me on the show to discuss the changes to student loans since the COVID pandemic, the new SA...

In this episode, Shayne Foley, PA-C and Jordan Fisher, PA-C from The PA Blueprint join as guests to discuss Ramit Sethi's 10 Money Rules. We share our thoughts and personal variations of the rules, and we discuss other money rules to consider. We also share what our future rich lives look like once we have reached financial independence as PAs, and some steps we're taking to try to live our rich l...

If you're a  self-employed  physician associate or other healthcare professional who is a  practice owner or an independent contractor (1099), you likely have several business expenses that you could use to help lower your taxes. In this episode, we'll review the common business expenses that you might have, and you'll learn why it's important that you work with a qualified tax...

The contribution limit for your 401K in 2023 is $22,500 for those of us under the age of 50, so you're assuming you for sure can contribute that whole amount to max out your 401K out for the year, right?? Unfortunately, that's not always the case! If you're considered a highly compensated employee (HCE), then if you try to max out your 401K, you could actually get a 401K refund due to your em...

Many physician associates and other health care providers are changing jobs due to burnout or negotiating better compensation and benefits in other roles. But what are you supposed to do with the money in your old 401K plan through your previous employer? What happens to it if you change jobs? What are your options?  You actually have 4 different options to consider for your investments...

More and more healthcare providers are experiencing burnout and considering leaving medicine altogether. Instead of leaving medicine completely, it's possible that working in a nonclinical role in medical industry could provide you with the work-life integration that you're looking for. Rachel Jurgenson is a fellow PA-C who transitioned into industry several years ago after working in cl...

Did you know that Harvard has been conducting a study for 85 years now? This study is called the Harvard Study of Adult Development, and it has shown some interesting things about health and happiness. Perhaps to your surprise (or not), happiness is not all about wealth and prestige. In this episode, some of the key findings are discussed, with an emphasis on the most important finding: the qualit...

You very likely either have seen or will see noncompete clauses come up when you're reviewing contracts throughout your career. What are noncompete agreements? Should you sign a contract with a noncompete clause in it? What does a detailed and well-defined noncompete clause look like? How do noncompetes impact patients and providers? Will noncompetes be banned? These are all the questions that are...

It doesn't matter if you're a new grad or an experienced healthcare provider, you very likely have some anxiety when you're preparing for an upcoming job interview. You may even feel more anxious when you're in the middle of the interview! Often, your heart can race, your body can shake, and your voice can crack. This isn't a fun experience at all! Besides potentially taking a beta-blocker, here a...

Women often feel intimidated and overwhelmed when learning about investing and financial literacy. I used to feel that way! However, studies have shown that women actually tend to be better investors compared to men. (This is after they find the confidence and courage to start investing). Listen to find out the 5 reasons why women usually are great investors.   If you're ready to get started...

My husband was finally able to join as a guest on the podcast for this episode! We share about how we were clueless when it came to finances early in our relationship, how we made financial mistakes, and how we are now trying to find the balance between enjoying life in the present while saving and investing for our future on our journey to financial independence. We also discuss how to...

While there are so many potential benefits to pursuing and reaching financial independence (hello, work being optional!), it is important to also consider the few potential drawbacks that may come with it. Learn what these types of drawbacks could be as well as the solutions that you can start doing now on your way to FI to help!   Are you just beginning your journey to financial independence...

As a PA student, there are different ways that you can begin your job search right now for your first PA role while you are still in PA school. In this episode, a few important things to search for in your first PA job are reviewed (and they aren't what you think!), as well as why it's important to apply to several jobs as a PA student or as a new grad PA. Additionally, yo...