Wealth Minded MD

Crushing nearly a million dollars in debt might sound impossible—but not for Drs. Nii and Renée Darko. In this episode, we dive into their journey from overwhelmed to financially empowered as they share exactly how they tackled over $660,000 in debt within 3 years. The hosts of Docs Outside the Box open up about the budgeting strategies that worked, how they prioritized debt repayment, and th...

Negotiation is a powerful skill that can help you get more from your career. In this episode, we sit down with Dr. Kayla Marshall to hear how she confidently negotiated a $15,000 salary increase and better work conditions after going through our Negotiate Like a Boss Accelerator program. Dr. Marshall talks about what it really took—getting clear on her value, preparing for the conversation, and sh...

Hiring your child might sound unconventional, but it can be a smart tax-saving strategy when done right. In this episode, we cover everything you need to know about hiring your child as an employee for your business—from the benefits of shifting income from a higher tax bracket to a lower one, and the tax deductions that come along with it to the detailed guidelines on age-appropriate tasks, indus...

Vetting financial advisors by evaluating their credentials, fees, and alignment with your goals helps you make an informed choice and find the right professional for your financial needs. In this episode, we discuss how to evaluate your financial advisor effectively, offering tips on asking the right questions to ensure your advisor is meeting expectations. Learn how to verify if your portfolio's...

Your contract is likely approaching its automatic renewal date, but that doesn’t mean you have to settle for the same terms. In this episode, we share practical, high-impact tips on how to renegotiate your work contract before it auto-renews. Learn how to determine your value, identify who has the authority to approve changes, compare your compensation to industry standards, and clearly define wha...

The economic headlines might feel overwhelming; stocks are going up, stocks are going down, and maybe you or people around you are starting to panic—but there are smart ways to protect your finances. In this episode, we address the recent fluctuations in the stock market, the impact of tariffs, and the financial uncertainty many are facing. We discuss the importance of maintaining a long-term inve...

What do you do with an old 401(k)? Should  single people buy life insurance? And how do you let yourself actually enjoy your money after years of frugal living? In this episode, we answer listener-submitted questions that touch on common financial challenges physicians face. We break down rollover options for a small 401(k), including pros and cons of using a Roth IRA or your new employer’s p...

If you have access to a 457(b) through your employer and you're trying to figure out whether it's a smart move for your financial future, we've got you covered. In this episode, we dive into the intricacies of the 457(b) retirement account, a powerful yet often overlooked option for high-income earners. We break down the key advantages, such as tax-saving benefits and investment growth, and walk y...

Taxes don’t have to be a headache, especially when you know how to work the system! In this episode, we’re diving into non-traditional tax-saving strategies for high-income earners. Learn how Dr. Brittne saved $25,000 on her taxes by investing in oil and gas. We’re breaking down the benefits, risks, and key steps to vetting these alternative investments, so you can decide if they’re the right fit...

Tax season is approaching, and while it might feel like a roller coaster, we’ve got your back! In this episode, we’re sharing practical strategies to navigate the chaos, reduce stress, and stay on top of your tax game. Discover how to make the most of tax professionals and strategists, manage the flood of tax documents, and uncover valuable deductions, even if you don’t have a mortgage or kids. We...

Juggling multiple retirement accounts can feel like a financial circus, but with the right strategy, you can make them work for you. In this episode, we dive deep into strategies for managing and maximizing multiple retirement accounts. Learn how to navigate various tax-protected accounts to your benefit, understand the differences between employee and employer contributions, and prioritize accoun...

If you have a side gig, there’s a powerful way to grow your wealth while protecting it from taxes. In this episode, we delve into the benefits and nuances of Solo 401ks and the advanced Mega Backdoor Roth IRA strategy. Discover how a Solo 401k lets you contribute as both an employee and employer, and how it can be an excellent option for self-employed professionals and those with side gigs. We als...

Too many people leave money on the table simply by not optimizing their finances. In this episode, we discuss actionable ways to elevate your financial well-being in 2025,  from being mindful of where to keep your cash for the best returns to canceling unnecessary credit cards and consolidating retirement accounts for simplicity.  We also delve into the importance of having a clear stude...

Despite your best intentions, you’re probably wasting money without even realizing it. In this episode, we explore the hidden money leaks draining your budget and how to stop them. From bank and investment fees to whole life insurance and overlooked expenses like unused gym memberships, streaming services, and digital storage costs, we dive deep into the financial pitfalls that are easy to overloo...

A Backdoor Roth IRA is a powerful tool for building long-term, tax-free wealth, but navigating the process can be tricky. In this episode we  break down the basics and advanced strategies of the backdoor Roth IRA—what it is, who should use it, and how to do it right. Learn how to execute the process step-by-step, address common mistakes like over-contributing, and clarify when the backdoor Ro...

Index fund investing is a simple and effective way to build wealth through diversified, passive investments, but it can feel overwhelming at first. In this episode, we break down everything you need to know. From the benefits of index funds and how to choose them to why they’re an ideal option for you, we’ll also cover minimum investments, different types of index funds, diversification strategies...

Starting your investment journey can feel overwhelming, but it doesn't have to be complicated. In this episode, we walk you through five key steps to help you navigate the process with confidence, from taking inventory and clarifying your goals to prioritizing accounts, selecting investment types, and choosing the right asset allocation. Whether you are new to investing or looking to refine your a...

Building a strong financial foundation isn’t just about earning; it’s about protecting what you’ve built and spending wisely. In this episode, we break down essential money moves you should prioritize when creating a financial plan. From determining how much you need to cover monthly expenses to understanding the three levels of savings strategy for emergencies and future goals, we guide you step...

As we are still starting the year, it's the perfect time to plan, set goals, make adjustments, and set the tone for a successful 2025. In this episode, we’re diving into actionable strategies to create a rock-solid financial plan as we guide you through reflecting on 2024, learning from past experiences, and using those lessons to build a solid foundation for the year ahead. From updating your bud...

Discover how to elevate your financial game by tapping into multiple income streams and diversifying your investments. In this episode, we share our journey of building wealth through various avenues, from our primary careers as physicians to ventures like real estate investing, financial coaching, podcasting, and speaking engagements. We dive into the importance of balancing your primary income w...

New Year’s resolutions often fizzle out, but your financial goals don’t have to. In this episode, we explore actionable strategies to help you achieve your 2025 financial goals. From creating SMART goals and automating savings to pairing financial habits with existing routines to stay consistent through habit stacking, learn how you can set ambitious goals that truly align with your values. Plus,...

A new year means another year for growth and goals. With 2024 now behind us, we’re reflecting on the financial milestones we’ve hit and the ones we’re still working toward. In this episode, we share how we tackled our money goals last year, from maxing out retirement accounts and being more charitable to exploring credit card point hacking and ensuring our emergency funds stayed strong. We also di...

The holiday season is filled with magic and memories, but it also comes with the challenge of balancing time, money, and energy. In this Christmas episode, we dive into strategies for making the most of the holidays without stretching yourself too thin. From weighing productivity against salary to the importance of valuing different currencies like time and energy, we offer practical insights to h...

The gender pay gap and financial challenges are a reality for many women, but with the right strategies, you can take control and start building financial security. In this episode, Dr. Shikha Jain, founder of the Women in Medicine Summit, joins us to discuss how women physicians can overcome these barriers and build lasting wealth. From practical negotiation tips to the power of financial literac...

Turning your finances around and building wealth might feel overwhelming, but it’s absolutely possible—and Dr. Disha Spath is proof. In this episode, we explore how she embraced financial literacy, crafted a plan to tackle debt, and discovered her entrepreneurial spirit. Dr. Spath shares practical strategies for saving money without compromising quality, tips for leveraging tools like CamelCamelCa...