A Physician’s Guide to Wealth - Making Sense of Your Cents
Release Date: 04/13/2024
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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Grand Rounds: Group contract negotiations with Jon Appino
Financial Residency
Many of us are told that our employer has one contract for a group of physicians and it is nonnegotiable. But what if the entire group collectively negotiated for changes? Groups can negotiate for salary, of course, but they can also request improvements to staffing, equipment, time off or other things. Jon Appino with Contract Diagnostics talks about the impactfulness and success of collective negotiations. He has started an entire division to focus on this type of bargaining and has even hired folks who previously represented "the other side" to increase physicians' chances of...
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Mortgage Minute - Losing lenders because of the housing market changes
Financial Residency
Doug Kraus from BMO Harris Bank shares insights on the evolving mortgage market. With significant shifts in interest rates, he advises listeners to research their mortgage options thoroughly. Doug highlights potential challenges in the industry and encourages caution when selecting lenders or brokers. He emphasizes the importance of working with established professionals to navigate the changing landscape. If you have questions, Doug is available to assist and offers a free book on or .
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A Physician’s Guide to Wealth - Do you feel in control of your money? Or is it in control of you?
Financial Residency
On today’s episode of A Life Well Lived James Nutter is joined by his mentor, great friend, business partner, and founder of his company Jeff McPherson, CFP®. There’s a difference between taking action with your money and fully taking control of your money. In today’s episode James and Jeff talk from a high-level overview of common mistakes they see physicians make with their money. How to unsubscribe from rules of thumb like live like a resident. Student loan tips and tricks and Jeff’s personal experience having his wife Michaela in Medical School from the perspective of a financial...
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A Physician’s Guide to Wealth - Time is Money or Is Money Time?: How to Use Your Money to Buy Back Time
Financial Residency
In this episode, James Nutter explores the concept of time versus money and how it relates to physicians' lives. He discusses the common belief that time is money and how physicians often equate more time worked with more money earned. However, he also highlights the negative consequences of this mindset, such as burnout and a lack of work-life balance. James encourages physicians to reflect on how they are spending their time and to consider whether they can delegate tasks that don't bring them joy or hire a capable team to help them complete their mission in life. He emphasizes the...
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Coffee & Contracts - They Said No to Your Ask?
Financial Residency
Jon from Contract Diagnostics discusses the disparity in contract offers for physicians within the same organization but different divisions. He emphasizes the importance of clarifying decision-making processes and reasons behind rejections when negotiating compensation. Jon advises physicians to seek multiple offers, understand policies, and persist in negotiations to achieve favorable outcomes. He highlights Contract Diagnostics' role in providing data-driven guidance and support throughout the negotiation process. Jon invites individuals to contact Contract Diagnostics through phone,...
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Coffee & Contracts - FDA and AI
Financial Residency
Jon from Contract Diagnostics discusses the FDA's evolving role in regulating AI in healthcare. As AI-powered medical devices become more prevalent, the FDA must adapt its processes to ensure safety and efficacy. Jon highlights the potential impact of AI on physician workflows and suggests that employers will need to update policies accordingly. He emphasizes the importance of staying informed about AI advancements and encourages annual policy reviews. Jon is optimistic about AI's potential to enhance productivity in healthcare and invites further discussion on the topic. Jon invites...
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Grand Rounds - Real tips for physician wellness with Dr. Rebekah Bernard
Financial Residency
Dr. Bernard has literally written the book on physician wellness and shares her insights to help us find our love of medicine again while maintaining our own happiness and well-being. She advocates for physicians to have autonomy and control the things they can in their practice. She offers simple tips for running an efficient practice and setting limits on the time you allocate for work so that you have more time for yourself. She also promotes motivational interviewing to help patients become true partners in decision making and goal setting, which leads to more successful outcomes. You can...
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A Physician’s Guide to Wealth - Taking Extreme Ownership: The Key to Personal and Financial Success
Financial Residency
In this episode of the "Life Well Lived: A Physician's Guide to Wealth" podcast, host James Nutter discusses the importance of taking extreme ownership and full responsibility for one's life. He shares his personal journey of blaming others for his circumstances and how he learned to take control and liberate himself. James emphasizes that blaming external factors such as the government, the economy, or other people only hinders personal growth and financial success. He encourages listeners to reflect on their own lives and assess whether they are taking full responsibility for their outcomes....
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A Physician’s Guide to Wealth - Physician Employment Contract Hacks: The Most Critical Steps for Negotiating Your 2nd Contract as an Attending Physician
Financial Residency
Have you ever taken time to review your contract and negotiate terms that are favorable to both you and the team? Just like a pro athlete negotiates for the most favorable contract, you as a superstar physician can to. Every time you renew your contract, you have a chance to get a better deal, especially your 2nd contract as an attending after you’ve proven yourself as an invaluable asset to the team. In today’s episode, we are joined by Health Law Attorney Spencer Licktieg. You deserve to have the right tools and skills to get an equitable contract that aligns with your lifestyle, and...
info_outlineEver felt overwhelmed about not knowing what you don’t know as it relates to money?
Perhaps even a bit frustrated that of the hundreds of thousands of dollars you spent and countless hours in training, there was little to no real-world training about money? I have great news, if you’re reading this now, you’re here for a reason. And though your medical school or training program is unlikely to do anything about, we here at Financial Residency are here to help you make sense of your cents. Take the first step by tuning into this episode!
Trying to qualify for PSLF and unsure if you’re on track? Get James’s 100% Public Service Loan Forgiveness Checklist and Masterdashboard. Go to https://info.imwealth.com/pslf to learn more.