A Physician’s Guide to Wealth - The Challenges and Lessons of Being a Stay-at-Home Dad in a Medical Family
Release Date: 05/04/2024
A Physician’s Guide to Wealth - Expert Reveals Critical Tips for Financial Success in Medical Practices
Financial Residency
Cindy Brown, an expert in transforming medical practices, shares valuable insights on optimizing revenue streams, personalized tax strategies, and achieving business success. She emphasizes the importance of having a strategic plan and understanding the business side of medicine. Cindy highlights common mistakes made by physicians, offers advice on surrounding yourself with a capable team, making hard decisions early, and being proactive in financial planning. Additionally, she discusses the importance of hiring professionals who are experts in their field and shares valuable tips for new...
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A Physician’s Guide to Wealth - 4 Key Money Habits of Physicians Winning Now
Financial Residency
This episode is brought to you by . Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at . Physician families who succeed with their finances in both good and bad times follow four key steps. First, they unsubscribe from generic financial rules and instead focus on their unique circumstances. Second, they define their values and use them as a guide for financial decisions. Third, they have a clear vision and mission for their family's future. Finally,...
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Coffee & Contracts - FP Doc and What We Learned
Financial Residency
This episode is brought to you by . Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at . Welcome to another insightful episode at Contract Diagnostics, where Jon dives into the complex world of physician contracts and the common pitfalls they face. Today, Jon reflects on a recent conversation with a physician who misunderstood crucial elements of his contract, leading to significant financial loss. He highlights the risks of outdated electronic health...
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Coffee & Contracts - A Ransomware Attack - Ascension
Financial Residency
This episode is brought to you by . Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at . In this episode Jon delves into the significant ransomware attack on Ascension, affecting its system and 35,000 affiliated providers. We explore the repercussions for healthcare providers, from reverting to paper notes to potential impacts on scheduling and income. The FBI and authorities are actively investigating the cause and next steps. Amidst uncertainty, we...
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Mortgage Minute - Locking Your Rate
Financial Residency
This episode is brought to you by . Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at . Welcome back to the Mortgage Minute with your host, Doug Crouse from BMO Bank. In this episode, we dive into the intricacies of interest rate locks. Learn the optimal timing to lock your rate post-preapproval and how this affects your mortgage application. Doug explains why securing your rate is crucial no later than 10 days before closing to ensure your loan gets...
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Grand Rounds - From salary to noncompetes with Kyle Claussen
Financial Residency
This episode is brought to you by . Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at . Kyle Claussen with Resolve joins us today to talk about contracts. In his experience, even non-negotiable contracts can usually be modified to some extent to give the physician better terms of employment. We touch briefly on the new FTC ruling about noncompete terminology in our contracts and how that may impact existing and new contracts after all the legal proceedings...
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Coffee & Contracts - Maximizing Your Earnings - Your Most Important Asset
Financial Residency
Jon from Contract Diagnostics emphasizes the critical importance of proactively managing one's financial future, especially for physicians. He highlights the significance of maintaining a strong income as the cornerstone for achieving financial independence, early retirement, and the ability to support charitable causes. Jon provides insights on the necessity of regular compensation reviews to ensure fair pay and discusses strategies for negotiating better terms in employment contracts. His advice extends beyond mere salary discussions, urging physicians to consider all aspects of their...
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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
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
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 ...
info_outlineIn 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 schedules and responsibilities with a partner who is deeply immersed in the medical field. His candid discussions about adapting to the role of a stay-at-home dad, the critical nature of self-care for the well-being of the entire family, and managing finances in a high-demand household are punctuated with wisdom and transparency. For any individual or family connected to the medical profession, this episode offers a treasure trove of relatable anecdotes and actionable advice, all while underscoring the value of cohesive partnership throughout the journey
| Timestamp | Summary |
| 0:02:44 | Todd and Amy's medical journey together |
| 0:06:11 | Challenges of being in a relationship with a physician |
| 0:09:03 | Balancing work and family life during residency |
| 0:10:20 | The challenges of breastfeeding and being a female surgeon |
| 0:12:20 | Importance of being intentional and thoughtful in a medical family |
| 0:13:53 | Being selfless and putting oneself in the other person's shoes |
| 0:19:24 | Todd's experience as a stay-at-home dad for six and a half years |
| 0:24:01 | Mental games and managing expectations as a stay-at-home dad |
| 0:27:37 | Importance of sleep, food, and self-care for executing the mission |
| 0:29:21 | Recognizing and diagnosing stress and burnout |
| 0:37:26 | Managing time and resources as a busy family |
| 0:39:04 | Managing conflicts in time and money resources |
| 0:43:35 | Setting aside dedicated time for financial discussions |
| 0:51:36 | Advice for young Todd and Amy: Recognize and manage stress and burnout |
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