The Grow Your Wealthy Mindset Podcast

Welcome back to part two of our deep dive into Social Security! In episode 209, we covered the foundational basics of how the system works for individuals. Today, we are shifting the focus to couples. Coordinating your Social Security strategy as a married couple is one of the most powerful ways to secure your joint retirement, yet it is frequently misunderstood. In this episode, we break down exa...

In this replay episode, we're revisiting one of the most common investing questions: Should you invest in exchange-traded funds (ETFs) or mutual funds? Both ETFs and mutual funds can be excellent investment vehicles, especially when you're investing in low-cost index funds. In this episode, I break down the key similarities and differences between the two, including: How ETFs and mutual...

When do you shift from simply "doing fine" to truly feeling like you are reaping the financial rewards of your career? Inspired by a post from a physician with $370,000 household income, yet still feeling like they are constantly chasing, this episode dives deep into the psychology of wealth. We explore why high incomes don't automatically translate to financial security, what diffe...

Over the last 4 years, there have been several guests on the podcast. The guest who had the most downloads is Dr. Karen Leitner.  Listen in on a conversation that Karen Leitner and I had on what mindset really means and how it influences our lives. It’s a candid conversation between two coaches with a focus on money mindset and topics like negotiation, the gender wage gap, and reframing failure. ...

Following last week’s look back at where it all began, I’m fast-forwarding through the last four years to share what has changed, what has stayed the same, and what it really looks like to pursue an "ideal life." From the highs of checking off bucket-list travels to the unexpected pivots of the medical job market, this episode is an honest reflection on career resilience, lifestyle desig...

The Grow Your Wealthy Mindset Podcast published an original weekly episode for the last four years. For the first episode of the 5th year of The Grow Your Wealthy Mindset Podcast, we return back to the very first episode, where Elisa Chiang talks about her journey that lead her to creating this podcast and why someone would want to take the time to listen to The Grow Your Weathy Mindset Podcast. ...

This episode dive into the complex world of Social Security through the lens of a high-earning professional. We move past the "standard" advice of waiting until age 70 to explore the Real Math, including the impact of current 2.7% TIPS real yields and the looming 2032 Trust Fund cliff. If you are in deciding on a claim strategy, this episode provides a framework for political risk manage...

In the medical world, perfectionism saves lives. In the financial world, it can cost you a fortune. In this episode, we dive into the "A+ Student Syndrome" and why the traits that make you a world-class physician—attention to detail, risk aversion, and a desire for complexity—are the exact traits that lead to "Analysis Paralysis" in your portfolio. This episode breaks down why...

In this episode, we pull back the curtain on the U.S. tax system to explore how it specifically impacts high-earning professionals. Inspired by a recent Freakonomics episode and the research of Jessica Riedl (Brookings Institute), we dive into the data-driven reality of tax progressivity, the "Buffett Myth," and why being in the Top 5% of earners changes the way you should approach your...

This week's episode reviews the findings published in Medscape's Physician Compensation Report for 2026.  Key Points The Numbers: The average physician salary rose to $356K (+3%), with Specialists ($417K) continuing to outearn PCPs ($298K). Top Earners: Orthopedics leads the field at $611K, followed by Cardiology ($575K) and Radiology ($571K); Pediatrics remains at the bottom ($266K). Th...

Just as an annual physical catches "silent killers" like hypertension, a financial deep clean identifies "Efficiency Leaks" before they cost you hundreds of thousands in lost growth. This episode provides a 5-point audit to ensure your money and mindset are perfectly aligned while you focus on your practice. The 5-Point Financial Audit: 1. Financial Goals Review: Move beyond va...

If you’ve ever asked yourself, “Where should I open a brokerage account?”you’re not alone. This is a common question I see in personal finance groups, and it can feel overwhelming when you’re trying to make the “right” choice. In this episode, I break down how to choose a brokerage account for investing outside of retirement accounts, or where to open an IRA, without overcomplicating the decision....

Starting in 2026, new rules will change how charitable tax deductions work. In this episode, we break down key provisions from the One Big Beautiful Bill Act and what they mean for your charitable giving strategy. You’ll learn how the new $1,000 deduction for standard deduction filers ($2,000 for married couples) works, why itemized charitable deductions now have a 0.5% AGI floor, and how a new ca...

This podcast episode discusses a blog article from the White Coat Investor website written by Dr. Jim Dali, titled "Will Your Retirement Go As Planned.” The article highlighted unexpected challenges faced by retirees, such as early retirement due to job loss, health issues, and the death of a spouse.  Elisa shared insights from the article, emphasizing the importance of considering life expec...

Can you take money out of a retirement account early without paying penalties? Many people assume retirement accounts are locked until age 59½, which leads them to avoid maxing out contributions—especially if they’re planning early retirement. In this episode, we explain when early withdrawals from retirement accounts don’t trigger the 10% penalty, including common IRS exceptions and strategies li...

In this milestone 200th episode of The Grow Your Wealthy Mindset Podcast , we explore the difference between being rich and being wealthy and why the distinction matters more than most people realize. While being rich is often visible through income and lifestyle, true wealth is usually invisible. Drawing from real-life examples and insights from The Psychology of Money by Morgan Housel, this epis...

High-income professionals often find themselves locked out of direct Roth IRA contributions. The "Backdoor Roth" is the gold-standard workaround, but it is a strategy where small administrative errors can lead to big tax bills. In this episode, we break down the mechanics of the Pro-Rata Rule, why your Form 8606 is the most important document in your tax return, and the specific steps ph...

If you have children, you may have seen a prompt in TurboTax or other tax software about opening a Trump Account. But what exactly is a Trump Account, and is it right for your family?  In this episode, we break down everything you need to know: Who is eligible and how to open a Trump Account Contribution limits, employer contributions, and federal seed money How the accounts are invested and what...

What if money isn’t just money—but stored life energy? In this episode, I reflect on the core premise of Your Money or Your Life by Joseph R. Dominguez and Vicki Robin and how it’s showing up in my own life as a physician. From reviewing Medicare reimbursement rates to comparing insurance-based care with cash-pay work, I share why the trade between effort, responsibility, and compensation is start...

Long-term care is one of the biggest unknowns in retirement planning. While many physicians can estimate their retirement spending, it’s much harder to predict if, and for how long, long-term care will be needed. In this episode, Elisa breaks down the real costs of long-term care, how long most people actually need care, and whether long-term care insurance makes sense for physicians. Learn about:...

How much do physicians actually need to retire comfortably? If you’ve heard numbers like $4 million—or more—and felt overwhelmed, you’re not alone. In this episode, we break down where these retirement numbers come from, why physicians tend to think they need significantly more than the average American, and how to calculate a retirement target that actually fits your life. Using data from Medscap...

Why do physicians earning multiple six figures still feel financial pressure? In this episode, we talk about why a high income doesn’t automatically lead to financial ease—and why many doctors feel stressed about money despite “doing everything right.” This isn’t about budgeting harder or cutting out every joy. It’s about understanding the real reasons behind that stuck, anxious feeling. In this e...

Most physicians assume that every dollar in their employer-sponsored retirement account belongs to them. That assumption can be a very expensive mistake.  In this episode of The Grow Your Wealthy Mindset Podcast, we break down vesting—what it means, how it’s governed by federal law, and why it matters when physicians change jobs or negotiate contracts. I also share a personal early-career mistake...

If you’re a physician with 1099 income, locums work, or a small private practice, choosing between a Solo 401(k) and a SEP IRA can have a huge impact on how much you’re able to save for retirement. In this episode, we compare Solo 401(k)s and SEP IRAs in plain language and walk through real physician examples to show how contribution limits change based on income type, age, and whether a spouse wo...

In this episode of The Grow Your Wealthy Mindset, we take a practical look at the differences between working as a 1099 independent contractor and a W-2 employed physician — and how each option affects your income, taxes, autonomy, and long-term wealth. Whether you're thinking about locums, considering a new job offer, or re-evaluating your career path, this episode gives you a clear framewor...