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Financial Vitals: Avoiding COVID Forbearance Lifestyle Creep

Financial Residency

Release Date: 09/14/2022

Coffee & Contracts - Non-Compete Agreements: A Game-Changer and TIME to renew show art Coffee & Contracts - Non-Compete Agreements: A Game-Changer and TIME to renew

Financial Residency

Jon from Contract Diagnostics discusses the potential impacts of a new regulation banning non-compete agreements, particularly focusing on physicians and Wall Street professionals. He delves into the broader implications for 30 million U.S. employees currently bound by non-competes, emphasizing the opportunity for physicians to renegotiate their contracts. The conversation covers the urgent need for financial firms to restructure contracts, the unique challenges for low-income workers, and strategic advice for physicians to proactively address their contract terms in anticipation of...

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A Physician’s Guide to Wealth - Critical Physicians Home Buying Mistakes and Myths Debunked With Darlene Dresch show art A Physician’s Guide to Wealth - Critical Physicians Home Buying Mistakes and Myths Debunked With Darlene Dresch

Financial Residency

Real estate expert Darlene Dresch provides valuable insights on the home buying process for physicians. She emphasizes the importance of finding the right realtor and getting pre-approved quickly. Darlene debunks common myths and offers advice on physician loans, debt-to-income ratios, and building wealth through real estate. She highlights the significance of choosing the right community and understanding the local market. Listeners are encouraged to interview multiple real estate agents, ask about their experience with physician relocations, and inquire about their communication style....

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A Physician’s Guide to Wealth - Maximizing Time: Audit Your Life to Create More Joy show art A Physician’s Guide to Wealth - Maximizing Time: Audit Your Life to Create More Joy

Financial Residency

In this episode of "A Life Well Lived: A Physician's Guide to Wealth," James Nutter emphasizes the importance of time and how it is the most valuable resource we have. He shares an exercise he does every year to audit his time and evaluate how he spent it. By categorizing things to leave behind, people to leave behind, things to bring forward, and the best moments and people of the previous year, he is able to prioritize joy and fulfillment in his life. Nutter encourages listeners to schedule time to do this exercise and experience the rewards of intentional time management. Timestamp ...

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Mortgage Minute - Interest Rates and How They Are Quoted show art Mortgage Minute - Interest Rates and How They Are Quoted

Financial Residency

Welcome back to the Mortgage Minute with your host Doug Crouse from BMO Bank. In this episode, Doug demystifies interest rate quotes, explaining the basics of how rates are quoted, the concept of discount points, and how rates are typically broken down into eighths of a point.  He uses practical examples to illustrate the difference between paying for a lower rate and receiving rebates for a slightly higher rate, helping listeners make informed decisions in the current economic environment. Tune in for clear, actionable insights on navigating your mortgage options. If you have questions,...

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 Grand Rounds - Everything real estate with Zoe Cangas of Moving Medicine Partners show art Grand Rounds - Everything real estate with Zoe Cangas of Moving Medicine Partners

Financial Residency

Zoe Cangas is the founder of Moving Medicine Partners, which is a network of realtors who specialize in physician properties and who are also married to physicians. They understand the special needs that physicians face because they are part of physician families themselves. Zoe talks to us about finding the right realtor, how legislation may affect buying/selling in the future, and the advantages of having rental properties to offset high physician incomes.  You can learn more about Zoe or find a realtor who works with physicians at .

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A Physician’s Guide to Wealth - The Challenges and Lessons of Being a Stay-at-Home Dad in a Medical Family show art A Physician’s Guide to Wealth - The Challenges and Lessons of Being a Stay-at-Home Dad in a Medical Family

Financial Residency

In this heartfelt episode of "The Life Well Lived, the Physicians Guide to Wealth" podcast, host James Nutter invites Todd Spencer, a devoted husband to surgeon Amy Spencer, to share his deeply personal experiences and learnings from life as part of a medical family. Todd's engaging storytelling provides an intimate glimpse into the life of a physician's spouse, highlighting the joys, challenges, and profound lessons learned along the way. Todd Spencer delves into the importance of being intentional with time, the practice of grace within the relationship, and the nuances of navigating...

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A Physician’s Guide to Wealth - The Economic Worth of a Physician: Maximizing Your Hourly Rate show art A Physician’s Guide to Wealth - The Economic Worth of a Physician: Maximizing Your Hourly Rate

Financial Residency

Discover your economic worth as a physician in this episode of "The Life Well Lived: A Physician's Guide to Wealth" podcast. Host James Nutter breaks down the concept of your hourly rate as a physician and challenges you to consider the opportunity cost of spending time on tasks you're not a professional in. Learn how prioritizing rest, recovery, and leveraging your strengths can increase your worth and bring more joy to your life. Don't miss this insightful episode that will help you take control of your time and live a more meaningful life.     Timestamp Summary ...

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Coffee & Contracts - Group negotiations successes! show art Coffee & Contracts - Group negotiations successes!

Financial Residency

Jon from Contract Diagnostics emphasizes the effectiveness of group negotiations among physicians and announces the launch of the Group Negotiation Division. He shares a success story of a group of surgeons renegotiating their compensation and highlights the complexities involved in the process. Jon encourages physicians to seek assistance in navigating group negotiations to ensure fair market value for their services. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit

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Coffee & Contracts - Non Compete updates! show art Coffee & Contracts - Non Compete updates!

Financial Residency

Jon from Contract Diagnostics provides an update on non-compete agreements following a recent FTC vote. While the vote leaned towards a national ban on non-competes, challenges and lawsuits are expected. Jon advises physicians to stay informed and review their contracts. He suggests utilizing this time to renegotiate contracts and discuss compensation with employers. Contract Diagnostics is available to assist physicians in navigating these changes. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit

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Mortgage Minute - Rate Modification at BMO show art Mortgage Minute - Rate Modification at BMO

Financial Residency

Doug Crouse from BMO Bank introduces the Rate Modification Option, a convenient program for borrowers. This option allows borrowers to relock their closed loan to the current market rate without the need for refinancing, saving time and money for both parties. Doug explains the flat fee structure and highlights the differences between rate modification and refinancing. He emphasizes the benefits of the program, such as the opportunity to adjust rates based on changes in loan-to-value ratios. Doug invites listeners to reach out for more information or assistance with loan estimates. If you have...

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More Episodes

Are you struggling with the temptation related to student loan perks? What are the intended consequences of student loans and associated COVID forbearance programs?  

In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about saving money to avoid the COVID-19 forbearance lifestyle creep.

Topics Discussed:
• COVID Forbearance: No payments, no interest on student loans until Aug. 31

• Good news? Yes, for PSLF, but what are people doing with the money?

• Average American Person: Temptation is to spend all or more money in pocket

• Consumption Effect and Awareness: Student loan payments will begin again

LINKS:

www.WrenneFinancial.com