Physician Family Finances Podcast

Episode Overview: In this engaging episode, we explore the multifaceted aspects of financial planning designed specifically for physician families. Hosts Nate Reineke and Ben Utley share insights on navigating topics like home building, real estate transactions, and investment strategies—each aimed at addressing the unique circumstances faced by medical professionals. From considering the challeng...

Episode Overview: In this episode of the Physician Family Financial Advisors podcast, hosts Nate Reineke and Ben Utley, both Certified Financial Planners, discuss financial strategies for physician families. They explore how to use extra cash effectively, looking at options like U.S. Treasuries, T-bills, ultra-short-term bond funds, ETFs, CDs, and high-yield savings accounts. The hosts also share...

Episode Overview: Join Nate Reineke and Ben Utley as they unveil insights into optimizing retirement and investment strategies tailored for self-employed physicians. This episode explores why a solo 401(k) might be more beneficial than a SEP IRA, particularly for those considering backdoor Roth conversions. Additionally, the hosts delve into the intricacies of contributing to 457(b) plans, highlig...

On today’s episode we answer more of your questions! Are we on track for retirement? My mom and dad need a little help with money - how much can I help? Is now the right time to upgrade in house? Another physician inheritance: what should I do with my extra money? I am looking at hiring a financial advisor, what questions should I ask them? I keep getting surprised with big tax bills, what am I do...

On today's episode we answer YOUR questions! Should I stop contributing to my taxable account and 529s if we are going to move in a year? How much can we contribute to our grandchildren's 529 accounts without going over the gift limit? How much does college cost? If I go with Physician Family and you manage my accounts, how will you invest my money? Is term life insurance really the only life insu...

How do I use my 529 to pay for college? Should I make regular 529 withdrawals or can I leave the 529 money in the account growing tax free as long as possible?   I received a large inheritance, should I pay off my 2.5% mortgage?   Should I count on merit based scholarships?   Should I let my 1-year CD rollover at Alliant or move it to a cash reserves account at Betterment?   Ho...

On today’s show…     Is it finally time to pay off my student loans?       I make $700,000 a year and I want my spouse to work..am I wrong?       Should I put my college money in cash or 529s?       Did my $2M home purchase derail my retirement?       Am I putting too much in my 529?       New city, new job. Can I...

On today’s show…  • How do I choose the right tax preparer?  • Why didn’t my automatic payment come out for my mortgage?  • Should we move closer to our parents?  • Should I count on hitting my RVUs?  • Should I buy into my surgery center?  • I am 10-years from retirement, should I cancel my life and DI insurance?  • How do we combine finances in my second marria...

You’ve been waiting for it all this time. So here we are, on our 67th episode - here comes the shameless self promotion.  Right? I mean what advisor doesnt think they are worth it. Well not only do we believe we are worth it, we can prove it. On today’s show, Nate and Ben share three ultra-simple moves that are so basic and so valuable that even super-smart physicians often miss out. And this...

Physician culture is a funny thing. Your colleagues may be thinking the same thing you’re thinking (about paying for college) but you would never know. Well, we do.   As our in house college planning specialist, Nate Reineke has written college plans to help the physician moms and dad we serve send more than 300 children to college.   So maybe your colleagues don’t talk to you about coll...

If something seems too good to be true, it probably is (not?) When physicians hear that they could save tens of thousands of dollars in taxes by utilizing a Defined Benefit Plan for retirement saving, it sounds like a pipe dream. Before you write this retirement savings tool off, think of it like this: If something seems too good to be true, it probably is for most. But if you are a high earning p...

Happy (somewhat belated) Valentine’s Day physician moms and dads. Did you remember to make a date or buy your sweetie flowers? If you failed it’s not too late, you can still buy them a vacation home! But should you?   Whether they are dreaming of a house in the mountains or a condo on the beach, your colleagues often cite three reasons to tie the knot on a second home and only one will end in...

“If you don’t make time for your health now, you will be forced to make time for your illness later.” You have heard quotes like this before but they don’t change the fact that it is difficult for physicians to make time for much of anything other than work and their family lives.   Listen in as Hannah Brandt - an expert in nutrition and helping busy physicians carve out time for a healthy li...

Money won’t buy you happiness. You have all heard this before and by and large everyone agrees with this statement, yet for many physicians your actions say otherwise.   Listen in as Nate lays out how working with hundreds of physician families has shaped his thinking on what living an abundant life really means and how you can shift your perspective about money to actually start living one....

Remember the good old days? I’m not talking about the days where teenagers consistently used words like “sir” and “ma’am”, I’m talking about when those teenagers could get away with paying for college with nothing but the income they earned from their summer jobs.    While those days are gone, the College Board just came out with some good news about the rising cost of college. Listen in...

Einstein famously said “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.” In today’s episode Nate and Ben discover that this compounding effect is not unique to your investments with money. It works the same way with your joy and ability to create memories early in your life. Listen in to find out how thinking about your physician inh...

Did you brush your teeth today? Of course you did. But did you actually think about what you were doing? Probably not.   Insurance open enrollment is like that. It’s something you do every year and you probably don’t think about it. In fact, you just might choose to do the same thing you did last year but that could cost you hundreds of thousands of dollars over the span of your career. &nbsp...

Imagine your physician Retirement Fund is one big pie. If you look closely, that pie will primarily be made of a physician 401k or 403b and the entire financial services industry wants a piece. If you’re not careful where the filling lands, you might cut them more than their fair share. Listen to Nate and Kyle discuss how to keep more 401k money for yourself on your journey to retirement.   &...

Investing is a strange thing: the less you pay, the more you get. And for physician investors, keeping more of what you earn means paying less taxes on your investments.   For the past three decades Exchange Traded Funds (ETFs) have made it easy for all investors to own a balanced, diversified, low cost, tax efficient portfolio.   But what are ETFs and how can you use them?   Listen...

Imagine a big sack of donuts. Now imagine a big stack of plywood. What do these have in common?   They are stories Ben and Nate share on today’s show.   While every physician wants to be responsible with money, most physicians come to realize that retirement planning simply sucks.   It’s laborious, time consuming and overwhelming.   So what do you do?   Listen in to find o...

Fake news. It’s everywhere and some people even believe it. Some unintentional fake news you have heard recently is that Public Service Loan Forgiveness is not real. In today's show, Ben and Nate share stories of real live physicians who have gotten real relief through the Public service loan forgiveness program.   We break down the must-know news about student loan forgiveness for doctors an...

Every physician wants to lower their tax bill. But, of all the best-known tax strategies for doctors that you may have heard about, which ones are both possible and worth your time? Tax loss harvesting just might be the winning answer for a mid-career physician.     Listen in as Kyle and Nate discuss tax loss harvesting and if it’s right for you       ARE YOU GETTING ALL T...

College is getting more and more expensive every year. For most people, the cost of college results in a six-figure ball and chain of student loan debt.     Have you ever wondered how your children can show up to their college graduation ceremony free from this financial burden?       Listen in on some LIVE college planning with Nate and Chelsea where they discuss setting...

Lets face it; you have WAY too much cash in the bank. Maybe you got a buy-out. Or an inheritance. Or maybe cash has been piling up in your bank account because you just haven’t had time to invest it.     Well, now is the time to think about all the things you can do with that extra money and maybe even start to take action.       Join Nate and Ben to learn how you can stop...

Good medicine requires a good treatment plan for each patient and the tools needed to implement it. But what do you do when your most efficient tool is broken?     Listen in as Nate asks Kyle what to do when you have a sound treatment plan for your investments - target date investing - but the target date funds in your 401(k) are busted.        ARE YOU GETTING ALL THE...